Non-Volatile Memory Express (NVMe) Market Market Outlook:
The global Non-Volatile Memory Express (NVMe) Market was valued at USD 45,896.0 million in 2020 and is projected to reach USD 300,494.6 million by 2028, expanding at a CAGR of 27.5% during the 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.
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.
Scope of Non-Volatile Memory Express (NVMe) Market report:
The report on Non-Volatile Memory Express (NVMe) market includes an assessment of the market, size, share, trends, segments, and country markets. Overview and dynamics have been included in the report.
Non-Volatile Memory Express (NVMe) Market
2018 & 2019
Products (Solid-state Drives (SSDs), Adapters, All Flash Arrays, Servers, And Others), Communication Standard (Ethernet, Fibre Channel, and InfiniBand), Deployment Location (On Premise, Remote and Hybrid), Verticals (BFSI, Consumer Goods & Retail, Telecommunications & ITeS, Healthcare, Energy, Government, Education & Research, Media & Entertainment, Manufacturing, And Others)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered
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, Microchip Technology Inc.
Non-Volatile Memory Express (NVMe) Market Market Dynamics
Rise in usage of NVMe technologies in SSDs, servers, and storage appliances
Demand for NVMe is increasing in SSDs servers and storage appliances, which is expected to drive the market during the forecast period. This communication interface and driver provide a command set and feature set for PCIe-based SSDs with the objective of efficient performance and interoperability across a broad variety of corporate and client systems. NVMe was developed with SSDs in consideration.
It uses high-speed PCIe sockets for connect between the storage interface and the system CPU, irrespective of the storage form factor. NVMe is gradually becoming another industry standard for data centre servers and consumer devices such as laptops, desktop PCs, and next-generation gaming consoles due to its increased use in SSDs, servers, and storage appliances.
Growth in data generation and increase in demand for data storage and processing infrastructure
The confluence of Big Data and cloud technology is expected to drive current data-driven research and serve as the foundation for modern e-Science, which has benefitted from the wide availability of low-cost computing and storage resources available on demand. Modern e-Science infrastructures enable the targeting of previously intractable large-scale challenges. Relative value of a gigabyte for primary storage has greatly increased. Thus, rising data generation and demand for data storage and processing infrastructure is expected to drive the market during the forecast period
Noncompliance of older systems with NVMe
A computer must be able to boot the operating system from an NVMe SSD to get the most out of it. This needs BIOS support. Most old standard BIOSes do not support booting from NVMe. Users are less likely to opt for a system that has NVMe for playing PC games or utilizing extremely CPU-intensive applications such as editing 2160p (4K)/4320p(8K) videos. Thus, non-compliance of old systems with NVMe is expected to hinder the market during the forecast period.
Regulations Restraining the capability of NVMe
A storage framework is necessary to speed up external sort, as the complete dataset needs to be loaded and cleared a couple of times throughout the sorting process. By connecting each thread with a different storage device, most current frameworks have attempted to simplify the storage access pattern. This prevents random and concurrent I/O requests. Such regulations restrain the potential of NVMe-based SSDs, which provide high throughput and ample parallelism.
Rise in digitalization in various enterprises
IT and digital transformation have caused significant changes in data storage, and growing expectations for NVMe technology. New performance requirements for storage media are being driven by next-generation applications that include Big Data analytics, cloud-based platforms, and mobile computing.
Digitalization has led to data-driven workloads and ever-proliferating applications, which has exponentially increased the demand for accelerated data storage. Moreover, rise in digitalization in various enterprises is expected to create opportunities for non–volatile memory express market during the forecast period.
Non-Volatile Memory Express (NVMe) Market Segmental Outlook
The global Non-Volatile Memory Express (NVMe) market is segmented on the basis of products, communication standard, deployment location, verticals and regions.
Based on products, the global Non-Volatile Memory Express (NVMe) market is segmented into Solid-state Drives (SSDs), Adapters, All Flash Arrays, Servers, And Others. The solid-state drivers segment is expected to hold a significant share of the market and is anticipated to grow at a high pace in the coming years.
Solid-state drives (SSDs) are gaining prevalence in laptops, desktop computers, and servers. Users are upgrading hard disc drives (HDDs) to SSDs to speed up their old desktop PCs or laptops, as the latter is faster and more reliable than HDDs. SSDs are an excellent choice for new PC builds, servers, and system builders and are expected to drive the market during the forecast period.
The servers segment is estimated to grow at a rapid pace during the forecast period, due to highest storage throughput performance and application responsiveness. Factors such as optimization of servers for maximum capacity and highest throughput performance and storage enclosures available for easy capacity expansion are expected to drive the segment during the forecast period.
By Communication Standards
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.
By Deployment Location
Based on Deployment Location, the global Non-Volatile Memory Express (NVMe) market is segmented into On Premise, Remote and Hybrid. The on–premise segment is expected to hold a significant market share and is anticipated to grow at a high pace in the coming years. The deployment of NVMe is beneficial, as it does not need any specific hardware. NVMe/TCP, like iSCSI, uses any Ethernet NICs and switches, making deployment and maintenance easy and less expensive. It is utilized on-premises or in the cloud, as it is installed on any TCP network.
Based on Verticals, the global Non-Volatile Memory Express (NVMe) market is segmented into BFSI, Consumer Goods & Retail, Telecommunications & ITeS, Healthcare, Energy, Government, Education & Research, Media & Entertainment, Manufacturing, And Others. The telecommunications & ITeS segment is expected to register growth opportunities in the near future.
In comparison to SATA, which only has a single queue and a depth of 32 commands, NVMe has a queue depth of 64K commands with 64K independent queues. This advantage fueled enthusiasm for NVMe. IT managers acquainted with the technology are expecting it to replace traditional SAS- or SATA-connected flash storage, which is expected to drive the market over the forecast period.
The BFSI sector is mainly focused on providing services to customers. The use of digital platforms in this industry is increasing, which is expected to result in massive volumes of digital data. In addition, this sector requires a high level of security and must conform to regulatory requirements. In this vertical, NVMe-based products including SSDs, storage arrays, compatible servers, and other storage solutions are gaining traction.
Non-Volatile Memory Express (NVMe) Market Regional Outlook
Based on regions, the global Non-Volatile Memory Express (NVMe) is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. 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.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Non-Volatile Memory Express (NVMe) market
- Historical, Current and Projected Market Size in terms of Value and Volume
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Non-Volatile Memory Express (NVMe) Market Performance
- Solid-state Drives (SSDs)
- All Flash Arrays
By Communication Standard
- Fibre Channel
By Deployment Location
- Consumer Goods & Retail
- Telecommunications & ITeS
- Healthcare, Energy
- Education & Research
- Media & Entertainment
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key Market Players Profiled in the Report
- 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
- Microchip Technology Inc.
- Top players in the market 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. These companies are considered as key manufacturers of Non-volatile Memory Express (NVMe) based on their revenue, product offerings, regional presence, and supply chain management system.
- The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where potential opportunity for the Non-Volatile Memory Express (NVMe) market.