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.
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North America held the largest size of NVMe market in 2019
North America, being an early adopter of advanced data storage technologies, captures the largest share of the NVMe market, followed by Europe and APAC. Every industry in North America is being digitized and demands advanced data storage solutions. North America is a key market for notebooks, laptops, and tablets. The dynamics of computing have changed for the developers of notebooks, tablets, and laptops in this region, with more emphasis on saving the time of consumers by speeding up data transfer. Hence, there has been a strong push for using NVMe SSDs in these devices to save time, speed up data transfer, and achieve high performance levels. Moreover, the US is home to leading data storage companies such as Dell, NetApp, HPE, Hitachi, Western Digital, and Intel.
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.
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