According to a recent market study published by Growth Market Reports, titled, “Global Non-Volatile Memory Express (NVMe) Market – by product, by communication standard, by deployment location, by verticals and by regions: Size, Share, Trends and Opportunity Analysis, 2018-2028”, the market was valued at US$ 45,896.0 Million in 2020 and is expected to grow at a moderate growth rate of 27.5% by the year 2028. Rise in usage of NVMe technologies in SSDs, servers, and storage appliances and growth in data generation and increase in demand for data storage and processing infrastructure expected to act as a driving force for the market during forecast period.

Non-volatile memory express (NVMe), also known as non-volatile memory host controller interface (NVMHCI), is a device interface specification that allows a solid-state drive (SSD) to effectively use a high-speed PCIe link in a computer. Intel Corporation, Dell Inc., SAMSUNG, and Seagate Technology LLC are some companies working on this communications interface/protocol. NVMe is a modern server storage I/O access technique and protocol that allows for quick access to NVM-based storage and memory. NVM Express (NVMe) is an optimized, high-performance scalable host controller interface designed to address the needs of Enterprise and Client systems that utilize PCI Express-based solid-state storage. Designed to move beyond the dark ages of hard disk drive technology.

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At the Intel Developer Forum 2007, the initial details of a novel standard for accessing non-volatile memory were announced, with NVMHCI being presented as the host-side protocol of a proposed architectural design that included open NAND flash interface working group on the memory (flash) chips side. In the same year, an Intel-led NVMHCI working group was founded. The NVMHCI 1.0 standard was developed and published on Intel's website in April 2008.

Formerly, most SSDs interacted with the rest of a computer system through buses such as SATA, SAS, or fiber channel. SATA has become the most common means to connect SSDs in personal computers until they became widely accessible; however, SATA was built primarily for communicating with mechanical hard disc drives (HDDs), and has grown increasingly insufficient for SSDs. The adoption of NVMe interface is expected to rise as next-generation data-intensive applications utilize low-latency NVMe flash-based storage to meet growing customer demand.

The Non-Volatile Memory Express (NVMe) market is projected to witness a slight increase in year-on-year growth for 2020 as compared to for previous year 2019. Regulatory bodies anticipated to play a key role in boosting the market is supporting growth of the market in 2020. The Non-Volatile Memory Express (NVMe) market is growing at a significant pace due to growing telecom industry expected to fuel the market.

As per Growth Market Reports industry analyst Divyanka Sankhe, “The global Non-Volatile Memory Express (NVMe) market is anticipated to witness moderate growth during forecast period 2020-2027. The Non-Volatile Memory Express (NVMe) market is registering growth opportunities across the globe, government initiatives toward vhf and increasing demand for Non-Volatile Memory Express (NVMe)”.

The first quarter of 2020 was an unforeseen turning point for the Non-Volatile Memory Express (NVMe) market. Supply chains were disturbed by COVID-19 outbreaks in major regions, thus reducing the demand for various products, due to uncertainty in the global economy. Certain discrepancies in production and supply chain created mild disruptions across some areas in the supply chain of the Non-Volatile Memory Express (NVMe) market. However, after second quadrant due to increasing product demand for industries has boosted market growth in 2020. Increasing production process in semiconductor industry and boosted the Non-Volatile Memory Express (NVMe) market in 2020.

Key Takeaways from the Study

  • The players including include Samsung Electronics Co., Ltd., Western Digital Corporation, Intel Corporation, Dell Technologies Inc., Hewlett Packard Enterprise, Broadcom Inc., Micron Technology, Inc., Cisco Systems, Inc., Toshiba Corporation, NetApp, Inc., International Business Machines Corporation and Microchip Technology Inc. which hold significant share of Global Non-Volatile Memory Express (NVMe) market in year 2020.
  • The market in North America is expected to grow at a rapid pace, owing to the rising data volume across several sectors and increasing adoption of advanced storage technologies. The market in Europe is expected to hold a considerable share of the global market during the forecast period, owing to growing popularity of cloud computing and Internet of Things in this region.
  • Based on Communication Standards, the global Non-Volatile Memory Express (NVMe) market is segmented into Ethernet, Fibre Channel, and InfiniBand. The Ethernet segment is expected to hold a significant market share and is anticipated to grow at a high pace in the coming years. NVMe over TCP (Transport Control Protocol) uses NVMe-oF and the TCP transport protocol to transfer data across Ethernet networks. NVMe transports TCP datagrams over Ethernet as the physical transport. These factors are expected to drive the market over the forecast period for the ethernet segment. The Fibre Channel segment is expected to register growth opportunities in the near future. FC-NVMe, NVMe over FC, or NVMe/FC are all terms used to describe the use of NVMe over Fibre Channel (FC). Fibre Channel extends into SANs and systems are purpose-built to handle demanding workloads including big data, analytics, deep learning, and AI. Thus, the fibre channel segment is expected to boost the market over the forecast period.

Report Scope

Report Metric

Details

Market Value in 2020

US$ 45,896.0 Million

Market Growth Rate (from 2020 to 2028)

27.5%

Historical Data

2018, & 2019

Base Year

2020

Forecast Period

2021 - 2028

Units Considered

Value (US$ Million)

Market Segments

Product, Communication Standard, Deployment Location, Verticals and Regions

Regional Scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies Profiled

Samsung Electronics Co., Ltd., Western Digital Corporation, Intel Corporation, Dell Technologies Inc., Hewlett Packard Enterprise, Broadcom Inc., Micron Technology, Inc., Cisco Systems, Inc., Toshiba Corporation, NetApp, Inc., International Business Machines Corporation and Microchip Technology Inc.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

 Target Audience

  • Supply-side: Manufacturer, Developers and distributors.
  • Demand Side: BFSI, Consumer Goods & Retail, Telecommunications & ITeS, Healthcare, Energy, Government, Education & Research, Media & Entertainment, Manufacturing, And Others.
  • Regulatory Side: Concerned government authorities, and other regulatory bodies.
  • Associations and Industry Bodies: National Association of Software and Service Companies (NASSCOM), Data Protection Authorities (DPAs), Others.