The report studies the factors influencing the growth of the industry in the global Non-Volatile Memory Express Market and offers accurate predictions about the growth pattern. The report pays special attention to the key elements of the Non-Volatile Memory Express Market, such as drivers, restraints, opportunities, threats, risks, limitations, and other aspects. The report covers a comprehensive analysis of the competitive landscape with a detailed analysis of the company profiles, product portfolio, and business expansion strategies.
The global Non-Volatile Memory Express (NVMe) market size is expected to reach USD 353.78 Billion at a steady CAGR of 29.5% in 2028, according to latest analysis by Emergen Research. Growth of NVMe market can be attributed to the rising demand for SSD amongst various consumers across the globe. NVMe supports low latency and operational performance in different applications, which is boost deployment, and in turn driving market revenue growth. Surge in digitalization and rising need to manage and store data efficiently are other factors supporting growth of the market. NVMe facilitates efficient and quick access to SSDs and has evolved as a preferred interface for storage amongst enterprises. Increase in volumes of data generated and need for more efficient storage systems is another factor driving growth of NVMe market. Increased adoption of NVMe in data centers is also fueling growth of the market.
Increasing adoption of NVMe in Internet of Things (IoT), big data, blockchain, and Artificial Intelligence (AI) is opening up major growth opportunities for various players operating in the market. However, performance-related issues associated with storage software is a key factor restricting adoption, and in turn, expected to hamper market growth to a certain extent over the forecast period. Additionally, issues related to data protection and data integrity are other factors expected to hamper growth of the market going ahead.
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The complete regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Competitive Landscape:
The latest report encases an in-depth summary of the intensely competitive landscape of the global Non-Volatile Memory Express (NVMe) Systems market, with systematic profiling of the companies operating across this industry. In this section of the report, experts have listed down the strategic initiatives undertaken by these market rivals for proposed business expansion. Additionally, it highlights the key developments and financial positions of these companies to explain the overall market scenario. The company profiles of the established and new players have also been assessed in the report through effective analytical tools like SWOT analysis.
Key players in the market include Micron Technology, Samsung Electronics, Hewlett Packard Enterprise (HPE), Intel Corporation, Toshiba Corporation, Dell EMC, Microchip Technology, Cisco Systems, IBM Corporation, and Renesas Electronics.
Emergen Research has segmented the global Non-Volatile Memory Express (NVMe) market on the basis of product, communication standard, deployment location, vertical, and region:
Product Outlook (Revenue, USD Billion; 2018–2028)
- Solid-State Drives (SSDs)
- Adapters
- Servers
- All-Flash Arrays
- Adapters
- Others (I/O Accelerator Blocks, Switches, and Controllers)
Communication Standard Outlook (Revenue, USD Billion; 2018–2028)
- Ethernet
- Infiniband
- Fiber Channel
Deployment Location Outlook (Revenue, USD Billion; 2018–2028)
- On-Premises
- Remote
- Hybrid
Vertical Outlook (Revenue, USD Billion; 2018–2028)
- BFSI
- IT Telecommunication
- Government
- Healthcare
- Consumer Goods Retail
- Media Entertainment
- Education Research
- Energy
- Manufacturing
- Business Consulting
- Others
Highlights from the Report
- In May 2021, Kingston Technology announced the launch of NV1 NVMe PCIe SSD. NV1 is an ideal entry-level drive for first-time NVMe users with small form factor PCs and laptops. NV1 has substantial storage capacities of up to 2TB, consumes less power, emits less heat, and has quick load times, which makes it ideal for users requiring rapid responsiveness and ultra-fast data access, but having systems with limited storage space.
- Hybrid deployment is a combination of remote and on-premises systems. Hybrid deployment is gaining traction as companies need to maintain backups of important files and data in case of any eventuality at the premises. Hybrid NVMe storage solutions are generally adopted by those enterprises seeking to reap the benefits of other deployment modes, while also keeping capital expenditure low in on-premises deployment.
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