DUBLIN, Oct. 29, 2020 /PRNewswire/ -- The "Global Non-Volatile Memory Express (NVMe) Market: Focus on Device, End User, Communication, Industry, Funding, Impact of COVID-19 - Analysis and Forecast, 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global NVMe market is projected to grow from $19.52 billion in 2020 to $115.35 billion by 2025, at a CAGR of 42.66% from 2020 to 2025.
The growth in the NVMe market is expected to be driven by the rise in the amount of data generation, need for efficient data storage systems, and increasing adoption of NVMe in data center. The benefits associated with the usage of NVMe, such as high bandwidth, low latency, and low power consumption, is expected to aid its increase in adoption.
Impact of COVID-19 on the Global Non-Volatile Memory Express Market
The global NVMe market is expected to experience a continuous healthy growth during the forecast period. However, during 2020, the growth of the NVMe market is expected to experience a dip due to the effect of COVID-19 pandemic, as there is delay and restriction in the purchase of the NVMe storage devices from the end-use organizations. The industries associated with the essential commodities have operated with basic production targets due to which their targeted sales and the business have impacted significantly, thereby retarding the adoption of advanced technologies within their operational facilities.
Moreover, the suppliers of the NVMe storage devices have experienced hardware component shortage due to the fluctuating supply chain operations globally. Assembling and the installation of NVMe memory devices have been reduced. The growth of NVMe market is expected to revive sparsely during Q3 of 2020 with a healthy rate from 2021, once the operational activities return back to pre-lockdown circumstances, as the technology would allow the business organizations to access the data stored in the memory devices at a faster rate from remote locations as well.
The competitive landscape for the NVMe market demonstrates an inclination toward companies adopting strategies such as product launches and developments along with partnerships, collaborations, and joint ventures. The major established players in the market are focusing on product launches and developments to introduce new technologies or developing further on the existing product portfolio. For instance, in May 2020, Dell EMC launched Power Edge series data storage servers. These servers are integrated with NVMe interface for optimum data access for enterprise end-users. Additionally, in February 2020, Cisco Systems launched hyperflex series flash and NVMe nodes, which are embedded with Xenon (Intel) processor for data storage applications catered to enterprise and client systems end use.
With the increasing growth in the global NVMe market, companies operating in this industry are compelled to come up with partnership and collaborative strategies in order to sustain in the intensely competitive market. For instance, in June 2020, NetApp entered a partnership with Fujitsu to integrate NVMe interface within the memory and storage devices, thereby improving latency and ensure minimum power consumption. Additionally, in October 2019, Gigabyte Technology entered a partnership with Silicon Motion Technology to provide NVMe-enabled solid-state drives for the data center applications.
Regional Market Dynamics
The NVMe market holds a prominent share in various countries of North America, Europe, Asia-Pacific and Japan, and the Middle East and Africa. North America is at the forefront of the global NVMe market, with high market penetration rate in the U.S., Canada, and others, which are expected to display robust market growth in the coming five years.
During the forecast period, the Asia-Pacific and Japan region is expected to flourish as one of the most lucrative markets for NVMe. Asia-Pacific and Japan is expected to exhibit significant growth opportunities for NVMe due to the increasing industrialization in countries, such as Japan, South Korea, and India, thereby increasing the adoption of NVMe across organizations.
The countries in this region present immense scope for market development, owing to the increasing urban population size, growing market penetration of advance technologies, such as artificial intelligence (AI), Internet of Things (IoT), augmented reality (AR), and virtual reality (VR), favorable government investments on the adaptation of Industry 4.0 standards and policies for enhanced manufacturing and operational facilities across all business organizations.
Key Topics Covered:
1 Market Dynamics
1.1 Market Drivers
1.1.1 Continuous Generation of Process Data and Subsequent Need for Data Storage Systems
1.1.2 Rising Demand for Improved Performance of Storage Devices
1.1.3 Increasing Adoption of NVMe in Data Center
1.2 Market Restraints
1.2.1 Increase in Data Security Risk
1.2.2 High NVMe Implementation Cost
1.3 Market Opportunities
1.3.1 Integration of Data Storage Devices in IoT Applications
1.3.2 Growth Opportunities in Big Data Analytics and Artificial Intelligence
1.3.3 Arising Scope of NVMe in Blockchain
2 Competitive Landscape
2.1 Key Market Developments and Strategies
2.1.1 Product Launches and Development
2.1.2 Partnerships, Collaborations, and Joint Ventures
2.1.3 Mergers and Acquisitions
2.1.4 Business Expansion and Contract
2.2 Competitive Benchmarking of Key Players in Global NVMe Market
3 Industry Analysis
3.1 Role of NVMe in Deep-Tech Applications
3.1.1 Edge Computing
3.1.2 Wireless Cellular Communication (5G, 6G)
3.1.3 Autonomous Vehicles
3.1.4 Natural Language Processing
3.2 Investment and Funding Landscape
3.3 Consortiums and Associations
3.4 Patents Analysis
3.4.1 Patent Analysis by Status
3.4.2 Patent Analysis by Company
3.4.3 Patent Analysis by Storage Device Type
4 Global Non-Volatile Memory Express (NVMe) Market (by Device)
4.1 Market Overview
4.2 Solid-State Drive (SSD)
4.3 All-Flash Array (AFA)
5 Global Non-Volatile Memory Express (NVMe) Market (by End User)
5.1 Market Overview
6 Global Non-Volatile Memory Express (NVMe) Market (by Communication Type)
6.1 Market Overview
6.3 Fiber Channel
7 Global Non-Volatile Memory Express (NVMe) Market (by Industry Vertical)
7.1 Market Overview
7.6 Banking and Finance
8 Global Non-Volatile Memory Express (NVMe) Market (by Region)
9 Company Profiles
- Addonics Technologies
- Amazon Web Services, Inc.
- Broadcom Inc.
- Cisco Systems Inc.
- Dell Technologies
- Hewlett Packard Enterprise
- Huawei Technologies Co., Ltd.
- IBM Corporation
- Intel Corporation
- Marvell Technology Group Ltd.
- Micron Technology, Inc
- Samsung Electronics Co. Ltd.
- Toshiba Memory Corporation
- Western Digital
For more information about this report visit https://www.researchandmarkets.com/r/tqml9x
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