The report "Non-volatile Memory Express (NVMe) Market by Product (SSDs, Servers, All-flash Arrays, Adapters), Deployment Location (On-premise, Remote, Hybrid), Communication Standard (Ethernet, Fibre Channel, InfiniBand), Vertical, and Region - Global Forecast to 2025", is projected to grow from USD 44.6 billion in 2020 to USD 163.5 billion by 2025; it is expected to grow at a CAGR of 29.7% from 2020 to 2025. The major factors driving the growth of the market include the increasing adoption of NVMe technologies in SSDs, servers, and storage appliances; exponential rise in data generation and evolving demand for data storage and processing infrastructure; and significant performance advancements offered by NVMe.
Key Market Players
Key players in the NVMe market include Samsung Electronics Co., Ltd. (Samsung) (South Korea), Western Digital Corporation (Western Digital) (US), Intel Corporation (Intel) (US), Dell EMC (US), and Hewlett Packard Enterprise (HPE) (US).
Intel is a leading player in the global NVMe market. It has adopted a virtuous cycle of growth, which enables the expansion of memory, cloud, data centers, and connected devices. The demand for data storage is increasing as a large number of components and devices are becoming increasingly connected to each other. This is being effectively addressed by the company’s advanced memory technologies and storage devices solutions. To be technologically competitive, the company invests mainly in R&D. For instance, in 2018, Intel invested approximately USD 13.5 billion in R&D. These R&D efforts help the company constantly upgrade and expand its portfolio of products and services, gain an edge over its competitors, and exploit new opportunities. In addition, Intel focuses on product launches as an effective strategy to expand its SSD business worldwide. For example, in February 2018, the company launched Intel SSD DC P4510 Series and P4511 Series for data center applications. In March 2018, the company launched the Intel Optane SSD 800P, which is available in the M.2 22890 form factor with NVMe PCIe 3.0 interface.
NVMe market in RoW projected to grow at highest CAGR from 2020 to 2025
The growth of the NVMe industry in Middle East & Africa is attributed to the increased investments by telecom operators and financial institutions in advanced storage solutions. The energy sector in the Middle East is growing at a steady pace, and the players in the sector have significant growth opportunities in this region. This region is one of the largest producers of oil and gas. The oil & gas sector requires advanced data computing, processing, and storage solutions to analyze a large amount of seismic data. This has led to an increased demand for advanced data storage solutions. Increased expenditure on IT infrastructure is also driving the growth of the NVMe market in RoW. The increase in demand for smart devices as a result of the introduction of IoT, along with massive development in social media channels, has raised the need for storage in this region.
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