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.
Hybrid deployments expected to grow at highest CAGR during forecast period
A hybrid system is a combination of both on-premise and remote deployments, where active data are stored in the on-premise system, and inactive data are shifted to remote location-based systems. This is also known as disaster recovery management. The adoption of hybrid deployment model is increasing as companies need to keep a backup of the crucial data in case any mishap happens on the premise. This type of deployment comprises the advantages and disadvantages of both on-premise and remote deployments. Hybrid NVMe servers and storage solutions are opted by enterprises that want to leverage the benefits provided by other deployment types while keeping the capital expenditure lesser than on-premise deployment.
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.
Samsung Electronics Co., Ltd. (Samsung) (South Korea), Western Digital Corporation (Western Digital) (US), Intel Corporation (Intel) (US), Dell EMC (US), Hewlett Packard Enterprise (HPE) (US), Broadcom Inc. (Broadcom) (US), Micron Technology, Inc. (Micron Technology) (US), Cisco Systems, Inc. (Cisco) (US), Toshiba Corporation (Toshiba) (Japan), and NetApp, Inc. (NetApp) (US) are the prominent players in the NVMe market.
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