Exploring the Various Applications of Non-volatile Memory Express (NVMe) Market


The Non-volatile Memory Express (NVMe) Market is expected to grow from USD 9.9 billion in 2020 to USD 43.5 billion by 2025, at a CAGR of 34.3% from 2020 to 2025.

The Non-volatile Memory Express (NVMe) Market is anticipated to expand rapidly over the next years. The SSDs, servers, all-flash arrays, and adapters categories are expected to rise over the next years, according to the report, which evaluates the market in terms of product, deployment location, communication standard, vertical, and geography. The report also emphasises the expanding significance of NVMe in a number of sectors, such as healthcare, finance, and retail, and it foresees a rise in the use of NVMe-based solutions in on-premise, remote, and hybrid deployment settings. Ethernet, Fibre Channel, and InfiniBand are also mentioned in the research as the principal communication standards promoting market expansion. Due to the rising need for data storage and the uptake of modern technologies in nations like China and India, the Asia Pacific region is anticipated to dominate the market. In general, the study predicts that the Non-volatile Memory Express market would expand throughout the forecast period because to rising demand for quicker and more effective data storage solutions and technical advances.

According to a market research analysis, the Non-volatile Memory Express (NVMe) market in the Asia Pacific area is driven by the significant performance improvements provided by NVMe and the growing implementation of NVMe technologies in servers, SSDs, and storage appliances. The adoption of end-to-end NVMe over fabrics (NVMe-Of) and its use in blockchain, big data, IoT, and artificial intelligence are also highlighted in the paper. According to the report, the adoption of NVMe-based solutions is being driven by the rising demand for faster and more effective data storage solutions in the Asia Pacific region, notably in sectors like healthcare, banking, and retail. Ethernet, Fibre Channel, and InfiniBand are also mentioned in the research as the principal communication standards promoting market expansion. Overall, the report predicts that the Asia Pacific region's Non-volatile Memory Express market will continue to expand significantly in the years to come, propelled by factors like rising consumer demand for quicker and more effective data storage solutions, technological advancements, and expanding use of NVMe-based solutions across a range of industries.

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Key Players in the Market

The key players operating in the Asia Pacific non-volatile memory express (NVMe) market are Kioxia Corporation (Japan), SK Hynix, Inc. (South Korea), Renesas Electronics Corporation (Japan), SAMSUNG (South Korea), Intel Corporation (US), and Western Digital Corporation (US), among others.

  • In October 2022, Western Digital Corporation (US) launched its new gaming PCIe Gen-4 SSD based on NVMe technology. The new SSD offers data transfer speed up to 7,300 MB/s and this SSD is targeted for launch in the Indian market.
  • In March 2021, SAMSUNG (South Korea) launched new 980 NVMe SSD. The new SSD offers sequential read and write speeds at up to 3,500 and 3,000 MB/s, respectively. The new SSD is suitable for applications for everyday PC users and gamers. 

By product, all-flash arrays segment is projected to grow at high rate in the Asia Pacific NVMe market during the forecast period

According to a market research report, the Asia Pacific NVMe market's all-flash arrays sector is anticipated to expand rapidly throughout the forecast period. According to the report, the Asia Pacific region's growing use of all-flash arrays by businesses and data centres is to blame for this high growth rate. Flash memory is used by NVMe-based all-flash arrays, which offer high-end connectivity from drivers like vSphere, the Linux kernel, and Windows. These NVMe-based all-flash arrays have a number of advantages, including quick input/output operations (IOPS), quick read/write operations, and low latency. All-flash arrays require less upkeep, produce less heat, and use less electricity because they don't have any moving parts. Over the course of the forecast period, all-flash arrays' market acceptance is anticipated to be fueled by these premium characteristics. Overall, the report predicts that the Asia Pacific NVMe market for all-flash arrays will continue to grow significantly, driven by factors like rising need for quicker and more effective data storage solutions and developments in technology.

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By vertical, the healthcare segment in Asia Pacific NVMe Market is stipulated to witness a high growth rate

A market research analysis predicts that the healthcare sector of the Asia Pacific NVMe market would expand rapidly. According to the report, developments in telemedicine, healthcare robotics, and cutting-edge medical research are to blame for the rapid increase rate. Around Asia Pacific, a lot of healthcare firms have begun to enhance their data management and storage for analytics. Any patient's medical records can be easily recorded, analysed, and tracked with enough data storage. According to the survey, new healthcare goods and storage solutions that offer sophisticated data storage are made possible by new services including collaborative mobile solutions, video conferencing, and built-in applications. This will encourage the use of NVMe-based solutions throughout the Asia Pacific region's healthcare industry in the next years. Overall, the study predicts that the Asia Pacific NVMe market for the healthcare sector will continue to grow significantly, driven by factors like rising demand for sophisticated data storage solutions, technical advancements in the sector, and expanding use of NVMe-based healthcare solutions.

Japan is projected to witness a high market share in the APAC market from 2020 to 2025

Japan is anticipated to hold a significant market position in the Asia Pacific non-volatile memory express (NVMe) market from 2020 to 2025, according to a market research analysis. According to the report, one of the main factors influencing Japan's cloud infrastructure is the increasing adoption rate of cloud services by small and medium-sized businesses (SMEs), which in turn drives demand for NVMe for high-performance computing needs of cloud services. The research also cites effective regional financing programmes and government initiatives as factors in the expansion of the NVMe industry in Japan. As an illustration, the Japanese government announced a USD 320 million subsidy to promote the US-based chipmaker Micron Technology, Inc.'s intention to manufacture sophisticated memory chipsets at the Hiroshima factory in Japan.

News Covered:

https://www.prnewswire.com/news-releases/non-volatile-memory-express-nvme-market-worth-163-5-billion-by-2025--exclusive-report-by-marketsandmarkets-301000188.html 

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