Non-Volatile Memory Express (NVME) Market will Reach USD 120.44 Billion by 2027

Non-Volatile Memory Express (NVME) Market Definition + Overview:

NVMe (non-volatile memory express) is a set of interface requirements for accessing non-volatile storage media through peripheral component interconnect express (PCIe). This protocol is intended to improve the transfer speed between the enterprise and the customer. This specification contains a large number of elements, all of which are intended to promote the output features and operations.

The global non-volatile memory express (NVMe) demand is expected to expand at a CAGR of 8.7% from 2020 to 2027, rising from USD 52.3 billion in 2020 to USD 120.44 billion in 2027.

A group of vendors is working on a non-volatile memory networking interface/protocol. NVMe is a modern server storage I/O access system and protocol that allows for quick access to NVM-based storage and memory. Increasing digitalization and the increased need to handle and store data effectively are driving the global non-volatile memory express market

Non-Volatile Memory Express (NVME) Market DORC+ Recent News

Driver:

• SSD demand is expected to rise rapidly among a variety of customers, boosting the market's growth.
• Integration of this technology improves operating efficiency and reduces latency in a variety of applications, which will help the industry expand.
• Significant changes in the different technology available in the industries; this aspect is expected to aid the market's expansion.

Restraints:

• High financial costs associated with technology and its integration; this aspect is likely to stifle business expansion.
• Consumer demand for HDDs is expected to change as a result of the high costs associated with SSDs; this factor is expected to stifle business growth.

Recent News in Non-Volatile Memory Express (NVME) Industry:

1. In August 2019, with the release of the "Ultrastar DC SN640" and "Ultrastar DC SN340," Western Digital Corporation announced the availability of a "96-layer 3D flash NVMe SSD" series of devices. Both of these products were created to handle a variety of workloads as well as read-only applications. These drives were created to satisfy the increasing workload demands of data centers.
2. In March 2019, Toshiba Memory Corporation's U.S. subsidiary has announced the release of the "XD5 Series NVMe SSD" chassis, which is built in a 2.5-inch 7-mm low-profile form factor and optimizes the drives' low latency and efficiency in read-intensive workload applications. The platform works well in data centers and cloud environments, and it also works well in open compute project applications

Non-Volatile Memory Express (NVME) Market Segmentation+ Geographical Overview

As they are commonly used as a storage solution in most verticals, NVMe SSDs have the highest market share. The benefits offered by NVMe SSDs are largely responsible for this widespread acceptance. In comparison to HDDs, SSDs were launched to the market as a storage system that allows for quicker read/write operations and lower latency.

 A hybrid system is one that combines on-premise and centralized installations, with active data being processed on-premise and inactive data being moved to remote location-based networks. Enterprises who wish to take advantage of the advantages of other deployment models while avoiding the high capital costs of on-premise deployment choose hybrid NVMe servers and storage solutions.NVMe-oF is a network fabric that connects servers and storage systems and extends the high-performance and low-latency advantages of NVMe through network fabrics such as Fiber Channel (FC), Ethernet, and InfiniBand. To connect between the host machine and the target storage unit, NVMe over Fabrics uses a message-based mechanism which results in Fabric channel holding major share in the NVMe  market

The NVMe market is dominated by North America, which was an early adopter of modern data management technology, followed by Europe and APAC. Any business in North America is becoming more digital, necessitating the use of specialized data storage solutions. Notebooks, laptops, and tablets are common in North America. For the developers of notebooks, tablets, and laptops in this area, the fundamentals of computing have shifted, with a greater focus on saving customers' time by speeding up data transfer. As a result, there has been a significant push for NVMe SSDs to be used in these devices in order to save time, speed up data processing, and reach high performance levels.

Competitive Intelligence

The global non-volatile memory express market is extremely fragmented, and major players have used a variety of tactics to expand their footprints in this market, including new product releases, extensions, alliances, joint ventures, collaborations, acquisitions, and others. Broadcom, Cisco, Dell Inc., IBM Corporation, Lenovo, Intel Corporation, Marvell; Micron Technology, Inc.; Microsemi; Pure Storage, Inc.; NetApp; Oracle; SAMSUNG; Toshiba Memory Corporation; Western Digital Corporation; Excelero, Kingston Technology Europe Co LLP are only a few of the Key players currently operating in the global non-volatile memory express industry