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.
Download PDF Brochure:-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=30458978
All-flash arrays segment of NVMe market projected to grow at highest CAGR during forecast period
This growth is because of the increasing applications of NVMe-based all-flash arrays in enterprises and data centers. NVMe-based storage arrays use flash memory and get seamless support from drivers such as Windows 8, Linux kernel, and vSphere. These storage arrays also provide all the benefits of the NVMe interface, such as low latency, faster IOPS, faster read/write operations, etc.
InfiniBand expected to grow at second-highest CAGR during forecast period
InfiniBand is known for the rapid rate at which it performs. It is scalable and supports quality of service (QoS) and failover. It is majorly used as a server interconnect in high-performance computing (HPC) environments. The growing number of HPC applications and the use of IPv6, which enables unlimited expansions, drive the growth of InfiniBand as a communication standard. Therefore, this segment is projected to grow at the second-highest CAGR.
Healthcare vertical of NVMe market to grow at highest CAGR during forecast period
The need for NVMe-based data storage and solutions in the healthcare vertical is mostly due to the improvements in data analytics, adoption of wearable technology for health monitoring, and scientific research. Researchers in the healthcare industry need to analyze huge amounts of data. Storing, managing, and accessing a large amount of information requires high-speed data storage solutions. Similarly, data from patient records, including emails, back office, and tracking records, among others, require reliable, high-capacity data storage. NVMe-based storage, especially all-flash arrays, is expected to be adopted at a high rate because of their benefits such as enhanced performance with increased IOPS and low latency. The reduction in the average selling price of NVMe-based all-flash arrays is also driving its adoption.
North America held 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.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments:
Post a Comment