Non-Volatile Memory Express (NVMe) Market Size Worth USD 353.78 Billion in 2028

IoT Analytics Market
IoT Analytics Market

According to the most recent report by Emergen Research, the size of the global Non-Volatile Memory Express (NVMe) market is anticipated to reach USD 353.78 billion in 2028 at a consistent CAGR of 29.5%. The expansion of the NVMe industry can be linked to the increasing demand for SSD among customers all over the world. NVMe supports operational performance and reduced latency in a variety of applications, which promotes deployment and, in turn, propels market revenue development.

Other factors promoting market expansion include the rise in digitization and the increasing demand for effective data management and storage. NVMe has become a preferred storage interface for businesses because it enables effective and speedy access to SSDs.

The preferred storage interface is becoming non-volatile memory express, commonly known as NVM express (NVMe), which enables quicker and more effective access to SSDs. Since large, mid-sized, and some smaller businesses depend on cloud hosting services to provide access to data globally, cloud service providers step up their efforts to take advantage of NVM express’s strengths to enable high-speed data transmission.

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Some Key Highlights from the Report

  • Due to the growing popularity of digital payments and online banking, which has increased the demand for backup, data storage, and customer credential protection, the BFSI segment had the greatest revenue share in 2020.
  • The BFSI sector is using the technology as a result of an increase in the use of ML and AI in the sector, which produces massive volumes of data that are then used for additional analysis.
  • Due to an increase in Internet users across the area, the Asia Pacific market’s revenue is anticipated to develop quickly over the projected period. Increased demand for connected devices like tablets, smartphones, and laptops is anticipated to fuel market expansion in the region.
  • Key players in the market include Micron Technology, Samsung Electronics, Hewlett Packard Enterprise (HPE), Intel Corporation, Toshiba Corporation, Dell EMC, Microchip Technology, Cisco Systems, IBM Corporation, and Renesas Electronics.

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Emergen Research has segmented the global Non-Volatile Memory Express (NVMe) market on the basis of product, communication standard, deployment location, vertical, and region:

Product Outlook (Revenue, USD Billion; 2018–2028)

  • Solid-State Drives (SSDs)
  • Adapters
  • Servers
  • All-Flash Arrays
  • Adapters
  • Others (I/O Accelerator Blocks, Switches, and Controllers)

Communication Standard Outlook (Revenue, USD Billion; 2018–2028)

  • Ethernet
  • Infiniband
  • Fiber Channel

Deployment Location Outlook (Revenue, USD Billion; 2018–2028)

  • On-Premises
  • Remote
  • Hybrid

Vertical Outlook (Revenue, USD Billion; 2018–2028)

  • BFSI
  • IT & Telecommunication
  • Government
  • Healthcare
  • Consumer Goods & Retail
  • Media & Entertainment
  • Education & Research
  • Energy
  • Manufacturing
  • Business & Consulting
  • Others

Regional Outlook (Revenue, USD Billion; 2018–2028)

  • North America
    1. S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. K.
    3. France
    4. Spain
    5. BENELUX
    6. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Israel
    4. Rest Of MEA

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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