Market Research Report
Global Non-Volatile Memory Express (NVMe) Market: Focus on Device (SSD, All-Flash Array, Server, Adapter), End User (Enterprise, Client, Consumer), Communication Industry, Funding, Impact of COVID-19-Analysis & Forecast, 2020-2025
|Published by||BIS Research Inc.||Product code||962877|
|Published||Content info||249 Pages
Delivery time: 1-2 business days
|Global Non-Volatile Memory Express (NVMe) Market: Focus on Device (SSD, All-Flash Array, Server, Adapter), End User (Enterprise, Client, Consumer), Communication Industry, Funding, Impact of COVID-19-Analysis & Forecast, 2020-2025|
|Published: September 30, 2020||Content info: 249 Pages||
Global Non-Volatile Memory Express (NVMe) Market:
Focus on Device (SSD, All-Flash Array, Server, Adapter), End User (Enterprise, Client, Consumer), Communication (Ethernet, Fiber, InfiniBand) Industry (Manufacturing, Telecommunication, Transportation, Healthcare, Banking), Funding, Impact of COVID-19 - Analysis and Forecast, 2020-2025.
Global Non-Volatile Memory Express (NVMe) Market to Reach $115.35 Billion by 2025.
IBM Corporation, Cisco Systems, Amazon Web Services, Huawei Technologies, Intel Corporation, Western Digital, Toshiba Memory Corporation, Samsung Electronics, NetApp Inc., Micron Technology, Hewlett Packard Enterprise, Dell Technologies, Broadcom Inc., Marvell Technology Group, and Addonics Technologies
The global NVMe market is projected to grow from $19.52 billion in 2020 to $115.35 billion by 2025, at a CAGR of 42.66% from 2020 to 2025. The growth in the NVMe market is expected to be driven by the rise in the amount of data generation, need for efficient data storage systems, and increasing adoption of NVMe in data center. The benefits associated with the usage of NVMe, such as high bandwidth, low latency, and low power consumption, is expected to aid its increase in adoption.
Moreover, the pre-requisite to emerging deep-tech applications, such as edge computing, 5G and 6G communication, autonomous vehicles, and natural language processing is data storage infrastructure embedded with optimum data access interface, which ensures high data transfer bandwidth, lower power consumption, and minimal latency, among others. Hence, these features can be obtained with NVMe interface in place, thereby expecting its significant growth during the forecasted period 2020-2025.
The NVMe technology has garnered adoption in various business organizations, such as manufacturing, telecommunication, healthcare, transportation, banking and financial, government agencies, and educational institutions, among others to increase their operational productivity. As the commercial organizations, such as financial institutions and government agencies are majorly responsible for maintaining personal and financial records of citizens, therefore there is a need for NVMe interface in storage devices to maintain the organizational work efficiency. Catering to the manufacturing industry, the high demand for NVMe-enabled storage is attributed to the increased adoption of intelligent platform for connecting the devices and machines. Moreover, government initiatives for setting up a smart factory are also leading to high adoption rate of NVMe storage devices in this industry.
The banking industry generates huge amount of data on a daily basis starting from the individual transaction details to their customers information. Henceforth, with the existing storage system and data access procedure, the insights obtained from the real-time day-to-day financial data gets hindered. With the evolution of NVMe enabled storage infrastructure, the financial institutions can get real-time insights as the data gets stored in a structured manner with high data transfer speed and can easily be accessed with reduced latency.
Catering to the healthcare industry, the electronic devices used for health monitoring of patients are equipped with NVMe-enabled storage devices, such as all-flash arrays and solid state devices, which can be used to store the data related to the patient's health and can be easily accessed by the doctor treating remotely through the networking protocol. While conducting cardiac surgeries, there is a continuous requirement by the surgeons to track the patients past and present health parameters in order to execute successful treatment procedures. Therefore, NVMe-enabled storage devices ensure proper data access with optimum accuracy. The quick data access feature of NVMe will further help the hospital staff in reducing the patients queue time and maintain track record of the inventory consumption.
The global NVMe market is expected to experience a continuous healthy growth during the forecast period. However, during 2020, the growth of the NVMe market is expected to experience a dip due to the effect of COVID-19 pandemic, as there is delay and restriction in the purchase of the NVMe storage devices from the end-use organizations. The industries associated with the essential commodities have operated with basic production targets due to which their targeted sales and the business have impacted significantly, thereby retarding the adoption of advanced technologies within their operational facilities. Moreover, the suppliers of the NVMe storage devices have experienced hardware component shortage due to the fluctuating supply chain operations globally. Assembling and the installation of NVMe memory devices have been reduced. The growth of NVMe market is expected to revive sparsely during Q3 of 2020 with a healthy rate from 2021, once the operational activities return back to pre-lockdown circumstances, as the technology would allow the business organizations to access the data stored in the memory devices at a faster rate from remote locations as well.
The competitive landscape for the NVMe market demonstrates an inclination toward companies adopting strategies such as product launches and developments along with partnerships, collaborations, and joint ventures. The major established players in the market are focusing on product launches and developments to introduce new technologies or developing further on the existing product portfolio. For instance, in May 2020, Dell EMC launched Power Edge series data storage servers. These servers are integrated with NVMe interface for optimum data access for enterprise end users. Additionally, in February 2020, Cisco Systems launched hyperflex series flash and NVMe nodes, which are embedded with Xenon (Intel) processor for data storage applications catered to enterprise and client systems end use.
With the increasing growth in the global NVMe market, companies operating in this industry are compelled to come up with partnership and collaborative strategies in order to sustain in the intensely competitive market. For instance, in June 2020, NetApp entered a partnership with Fujitsu to integrate NVMe interface within the memory and storage devices, thereby improving latency and ensure minimum power consumption. Additionally, in October 2019, Gigabyte Technology entered a partnership with Silicon Motion Technology to provide NVMe-enabled solid-state drives for the data center applications.
The NVMe market holds a prominent share in various countries of North America, Europe, Asia-Pacific and Japan, and Middle East and Africa. North America is at the forefront of the global NVMe market, with high market penetration rate in the U.S., Canada, and others, which are expected to display robust market growth in the coming five years.
During the forecast period, the Asia-Pacific and Japan region is expected to flourish as one of the most lucrative markets for NVMe. Asia-Pacific and Japan is expected to exhibit significant growth opportunities for NVMe due to the increasing industrialization in countries, such as Japan, South Korea, and India, thereby increasing the adoption of NVMe across organizations. The countries in this region present immense scope for market development, owing to the increasing urban population size, growing market penetration of advance technologies, such as artificial intelligence (AI), Internet of Things (IoT), augmented reality (AR), and virtual reality (VR), favorable government investments on the adaptation of Industry 4.0 standards and policies for enhanced manufacturing and operational facilities across all business organizations.