The Increasing Adoption of Non-volatile Memory Express (NVMe) Market in Data Centers
The Non-volatile Memory Express (NVMe) Market is anticipated to increase significantly. The market for NVMe is anticipated to grow from USD 44.6 billion in 2020 to USD 163.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 29.7% over the forecast period, according to a report by MarketsandMarkets.
In the Asia Pacific area, the non-volatile memory express (NVMe) industry is expanding significantly due to a number of causes. The performance improvements provided by NVMe technology, which have expanded usage of NVMe in servers, SSDs, and storage appliances, are one of the main causes fueling this expansion.
The region's NVMe market is expanding as a result of the adoption of end-to-end NVMe over fabrics (NVMe-Of). In order to access NVMe devices across a network and provide quicker and more effective data transfer rates, NVMe-Of is a communication protocol. New market opportunities are being created for the NVMe market in the Asia Pacific area as a result of the growing adoption of NVMe technology for blockchain, big data, IoT, artificial intelligence, and other applications.
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Growing Digitalization Across Various Industry Verticals Creating High Demand for High-end Data Storage and Processing Infrastructure
High-end data processing and storage infrastructure is in high demand as digitalization spreads across many economic sectors. The enormous increase in digital data that businesses are producing has made it challenging to manage vast amounts of data. Over 80% of data is in the form of documents, photos, and audio/video files, which has contributed to the profusion of unstructured data and content across industries. Businesses now need to investigate effective database applications and put in place scalable content management and storage systems.
For sectors like healthcare, banking, retail, and manufacturing where a huge amount of digital data is generated, a high-end data processing and storage infrastructure is essential. For instance, the healthcare sector produces a significant volume of unstructured data in the form of electronic health records, medical photographs, and other papers. Additionally, the financial sector generates enormous amounts of client and transactional data.
By product, all-flash arrays segment is projected to grow at high rate in the Asia Pacific NVMe market during the forecast period
In the Asia Pacific NVMe market, the all-flash arrays category is anticipated to expand rapidly throughout the course of the projection. The region's growing adoption of all-flash arrays by businesses and data centres is thought to be the cause of the high growth rate. Flash memory is used by NVMe-based all-flash arrays, which provide high-end connection through drivers like vSphere, the Linux kernel, and Windows. Other advantages of these all-flash arrays include low latency, faster input/output operations per second (IOPS), and faster read/write operations.
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The expansion of the all-flash arrays market in the Asia Pacific NVMe region is also being driven by the rising need for high-performance computing and data storage solutions in developing nations like China and India. This market is promising for all-flash arrays since it is anticipated to develop at the highest rate during the forecast period.
By vertical, the healthcare segment in Asia Pacific NVMe Market is stipulated to witness a high growth rate
During the forecast period, the healthcare vertical in the Asia Pacific NVMe market is anticipated to rise rapidly with a sizable CAGR. Advances in telemedicine, healthcare robotics, and cutting-edge medical research are what are fueling the rise. In order to analyse patient data for better healthcare outcomes, healthcare organisations around the Asia Pacific region are constantly improving their data storage and management systems.
Easy record-keeping, analysis, and tracking of patient medical records are made possible by effective data storage. The adoption of NVMe-based goods and storage solutions that offer improved data storage has been made possible by the development of collaborative solutions via mobile devices, video conferencing, and built-in applications. In consequence, this is anticipated to accelerate the adoption of NVMe-based solutions throughout the Asia Pacific region's healthcare industry.
The digitalization of the healthcare industry is accelerating, which has increased need for effective data storage solutions. Healthcare organisations should consider NVMe-based storage solutions because they provide quicker read/write operations, faster input/output operations per second (IOPS), and reduced latency. The healthcare vertical in the NVMe market is anticipated to increase over the course of the forecast period as a result of the growing usage of NVMe-based products and storage solutions in the healthcare industry in the Asia Pacific region.
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Japan is projected to witness a high market share in the APAC market from 2020 to 2025
From 2020 to 2025, Japan is anticipated to hold a significant market share in the Asia Pacific non-volatile memory express (NVMe) market, primarily because to the high rate of cloud adoption by SMEs there. As a result of Japan's developed cloud services sector, NVMe is increasingly in demand to meet the high-performance computing needs of cloud services. Additionally, supportive government programmes and financial efforts will aid in the expansion of the NVMe market in Japan. For instance, the Japanese government has stated that it will provide Micron Technology, Inc. a subsidy of USD 320 million to support its ambition to manufacture sophisticated memory chipsets at the Hiroshima factory. Such encouraging steps will accelerate the expansion of the NVMe market in the area.
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 upto 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.
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