Global Forecast 2025: NVMe Market Size, Share, and Growth Trends

The Non-volatile Memory Express (NVMe) Market by Product, Deployment Location, Communication Standard, Vertical, and Region - Global Forecast to 2025" highlights the market's extraordinary growth trajectory. Forecasts show that by 2025, it will have grown significantly from USD 44.6 billion in 2020 to USD 163.5 billion, or a strong compound annual growth rate (CAGR) of 29.7%.

The growing use of NVMe devices across a range of industries, including servers, adapters, SSDs, and all-flash arrays, is one of the main drivers of this exponential expansion. Further driving market expansion is the move towards on-premise, remote, and hybrid deployment models as well as the advancement of communication protocols like Ethernet, Fibre Channel, and InfiniBand. Over the course of the projection period, NVMe technology's widespread use is anticipated to fuel significant market growth, ushering in a new era of high-performance, low-latency storage solutions. NVMe technology is becoming progressively integrated into modern computer infrastructure.

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The NVMe industry is expanding due to a number of important causes. The most notable of them is the broad use of NVMe technologies in a variety of devices, including servers, storage appliances, and solid state drives (SSDs). The demand for quicker and more effective data processing and storage solutions is what is driving this adoption. The market is also growing as a result of the exponential rise in data generation across all industries and the changing needs for reliable storage infrastructure. Another important factor contributing to NVMe's growing market share is its capacity to provide notable performance improvements over conventional storage interfaces, such as reduced latency and increased throughput. All of these elements together highlight how crucial NVMe technology is to satisfying the changing storage needs of contemporary computing environments, which is fueling the technology's ongoing development and industry adoption.

All-flash arrays segment of NVMe market projected to grow at highest CAGR during forecast period

The growing use of NVMe-based all-flash arrays in data centres and enterprise environments is responsible for the NVMe market's explosive expansion. Utilising flash memory, these storage arrays are seamlessly supported by popular platforms and operating systems like vSphere, Windows 8, and Linux kernel. In addition, NVMe-based storage arrays provide a host of benefits that come with the NVMe interface, such as exceptionally low latency, faster read/write operations, and faster input/output operations per second (IOPS). The market's growth trajectory is being driven by the combination of advanced features and extensive compatibility that make NVMe-based all-flash arrays extremely desired solutions for organisations looking to optimise their storage infrastructure for increased performance and efficiency.

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InfiniBand expected to grow at second-highest CAGR during forecast period

Because of its remarkable speed and scalability, InfiniBand is the recommended option for high-performance computing (HPC) settings. In demanding computing environments, InfiniBand is a dependable and effective server interconnect due to its capacity to handle quality of service (QoS) and failover. InfiniBand's popularity as a communication standard is further propelled by the rising prevalence of HPC applications and the implementation of IPv6 which allows for infinite extensions. As a result, this market sector is anticipated to experience the second-highest compound annual growth rate (CAGR). InfiniBand is a key element promoting innovation and expansion in the data communications market as businesses continue to depend on dependable, high-speed communication solutions to meet their growing computing demands.

Healthcare vertical of NVMe market to grow at highest CAGR during forecast period

The need for NVMe-based data storage solutions in the healthcare industry is fueled by a number of causes, chief among them being the development of data analytics, the spread of wearable health monitoring equipment, and the continuous pursuit of scientific research. High-speed storage solutions are essential as healthcare researchers deal with ever-increasing volumes of data. Robust, high-capacity storage infrastructure is necessary for managing and accessing large datasets, especially when it comes to patient records that include communications, back-office functions, and tracking records. In this context, NVMe-based storage solutions—most notably, all-flash arrays—are expected to be widely adopted because of their many benefits, which include improved performance measured in terms of Input/Output Operations Per Second (IOPS) and low latency. NVMe-based all-flash arrays are also becoming more and more popular in the healthcare industry as businesses look to improve data management effectiveness and boost research and analytics capabilities. This is due in part to their declining average selling price.

NVMe market in RoW projected to grow at highest CAGR from 2020 to 2025

The Middle East and Africa (MEA) region's NVMe market is expanding significantly, driven by increased investments in state-of-the-art storage solutions by financial institutions and telecom carriers. With the Middle East being a major producer of gas and oil, the energy sector's constant expansion offers enormous growth opportunities. The oil and gas industry needs complex data storage infrastructure because it needs powerful computing, processing, and storage technologies to analyse large amounts of seismic data. Furthermore, growing spending on IT infrastructure in the Middle East and Africa (MEA) region supports the expansion of the NVMe market in the Rest of the World (RoW). The continuing growth of the NVMe sector in the MEA market is supported by the proliferation of smart devices brought about by the Internet of Things (IoT) and the significant rise in social media platforms, which further increase the demand for storage solutions in the area.

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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