The global NVMe market size is projected to grow from USD 44.6 billion in 2020 to USD 163.5 billion by 2025; it is expected to grow at a CAGR of 29.7% from 2020 to 2025.
Growing adoption of NVMe in big data, IoT, artificial intelligence, blockchain, and end-to-end NVMe-over-Fabrics present growth opportunities for the NVMe industry. However, performance problems associated with storage software inhibit the growth of the market. Furthermore, issues related to data integrity and data protection, and the high cost of NVMe act as challenges for the growth of the market.
The SSDs segment is expected to account for the largest size of the NVMe industry during the forecast period
NVMe SSDs hold the largest market because they are widely adopted as a storage solution in most of the verticals. This widespread adoption is mainly due to the benefits provided by NVMe SSDs. SSDs were introduced into the market as a storage device that provides faster read/write operations and reduced latency compared with HDDs.
NVMe is an interface that was specifically designed for SSDs, and NVMe SSDs were introduced to provide better data storage and processing operations, and the lowest latency possible when compared with HDDs and traditional SSDs (SATA and SAS). Due to these benefits, SSDs hold the largest market share in the NVMe market.
The Ethernet segment of the market is projected to grow at the highest CAGR from 2020 to 2025
Ethernet is widely accepted because it is a popular communication standard and is made available by several enterprise storage vendors. Enterprise and data centers that use applications involving systems and storage in a network to communicate and exchange data prefer Ethernet for the benefits it provides. Therefore, this segment will grow at the highest rate.
The BFSI segment held the largest size of the NVMe market in 2019
The BFSI vertical mainly offer customer-centric services. The adoption of digital platforms in this vertical is growing, which is expected to create huge amounts of digital data. Also, this vertical requires high security and should adhere to regulatory compliances.
NVMe-based products such as SSDs, storage arrays, compatible servers, and other storage solutions are gaining traction in this vertical. This is majorly due to the reliable performance and features such as rapid data processing in terms of storage and retrieval with very low latency. Such features and benefits are increasing the adoption of NVMe in BFSI.
Reasons to Buy the Report
This report includes statistics pertaining to the NVMe market based on the product, communication standard, deployment location, vertical, and region.
This report includes detailed information on major drivers, restraints, opportunities, and challenges pertaining to the NVMe market.
The report includes illustrative segmentation, analysis, and forecast for the NVMe market based on its segments and subsegments.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Opportunities in NVMe Market 4.2 NVMe Market for SSDS, By Vertical, 2017-2025 (USD Million) 4.3 APAC NVMe Market, By Vertical and Country 4.4 NVMe Market for BFSI, By Region, 2017-2025 (USD Billion) 4.5 APAC NVMe Market, By Country
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 184.108.40.206 Increasing Adoption of NVMe Technologies in SSDS, Servers, and Storage Appliances 220.127.116.11 Exponential Rise in Data Generation and Evolving Demand for Data Storage and Processing Infrastructure 18.104.22.168 Significant Performance Advancements Offered by NVMe 5.2.2 Restraints 22.214.171.124 Performance Problems Associated With Storage Software 5.2.3 Opportunities 126.96.36.199 Growing Adoption of NVMe for Big Data, IoT, Artificial Intelligence, and Blockchain 188.8.131.52 End-To-End NVMe Over Fabrics (NVMe-Of) 5.2.4 Challenges 184.108.40.206 Issues Related to Data Integrity and Data Protection 220.127.116.11 High Cost of NVMe 5.3 Value Chain Analysis
6 NVM Express Market, By Product 6.1 Introduction 6.2 Solid-State Drives (SSDS) 6.2.1 NVMe SSDS Projected to Hold Largest Share in NVMe Market 18.104.22.168 2.5 22.214.171.124 M.2 126.96.36.199 U.2 (SFF 8639) 188.8.131.52 FHHL and HHHL 6.3 Adapters 6.3.1 Growth of Hyper-Converged Infrastructure is Expected to Lead to Increase in Adoption of NVMe Adapters 6.4 All-Flash Arrays 6.4.1 All-Flash Arrays to Grow at Highest CAGR During Forecast Period 6.5 Servers 6.5.1 Increased Enterprise, Data Center, and Hci Applications of NVMe Servers to Drive Growth of Servers Segment 6.6 Others (I/O Accelerator Blocks, Switches, and Controllers) 6.6.1 Other Products Segment to Grow Steadily Due to Increased Adoption of NVMe-Based Servers and Storage Solutions
7 NVM Express Market, By Communication Standard 7.1 Introduction 7.2 Ethernet 7.2.1 Ethernet to Hold Largest Market Size During Forecast Period 7.3 Fibre Channel 7.3.1 NVMe Over Fibre Channel Expected to Grow Steadily During Forecast Period 7.4 Infiniband 7.4.1 Infiniband Expected to Grow at Second-Highest CAGR
8 NVM Express Market, By Deployment Location 8.1 Introduction 8.2 On-Premise 8.2.1 On-Premise Deployment to Hold Largest Share of NVMe Market During Forecast Period 8.3 Remote 8.3.1 Remote NVMe Deployments are Expected to Grow Steadily During Forecast Period 8.4 Hybrid 8.4.1 Hybrid Deployments are Expected to Grow at Highest CAGR During Forecast Period
9 NVM Express Market, By Vertical 9.1 Introduction 9.2 Banking, Financial Services, and Insurance (BFSI) 9.2.1 BFSI Held Largest Share in NVMe Market in 2019 9.3 Consumer Goods & Retail 9.3.1 Emergence of E-Commerce and Online Retail is Leading to Increasing Adoption of NVMe Solutions 9.4 Telecommunications & ITES 9.4.1 Emerging Opportunities in Data Science and Analytics Leading to Growth of NVMe in the Telecommunications & ITES Vertical 9.5 Healthcare 9.5.1 Healthcare Vertical to Grow at Highest CAGR During Forecast Period 9.6 Energy 9.6.1 Increasing Adoption of Real-Time Analytics Leading to NVMe Market Growth in Energy Vertical 9.7 Government 9.7.1 Increasing Investments to Adopt Digitization and Analytics are Driving Adoption of NVMe 9.8 Education & Research 9.8.1 E-Learning is Driving NVMe Market Growth in Education & Research Vertical 9.9 Media & Entertainment 9.9.1 Increasing Adoption of NVMe Solutions By Media & Entertainment Firms Drives NVMe Market Growth in This Vertical 9.10 Manufacturing 9.10.1 Emergence of IIoT and Industry 4.0 Driving NVMe Market Growth in Manufacturing Vertical 9.11 Business & Consulting 9.11.1 Need for Efficient Data Management and High-Performance Computing to Drive NVMe Market in Business & Consulting Vertical 9.12 Others
10 Geographic Analysis 10.1 Introduction 10.2 North America 10.2.1 US 10.2.1.1 US Projected to Account for Largest Size of NVMe Market in North America 10.2.2 Canada 10.2.2.1 NVMe Market in Canada Projected to Grow Due to Increasing Need for Efficient Data Management 10.2.3 Mexico 10.2.3.1 NVMe Market in Mexico Projected to Grow at Highest CAGR During Forecast Period 10.3 Europe 10.3.1 UK 10.3.1.1 UK Held Largest Share of European NVMe Market in 2019 10.3.2 Germany 10.3.2.1 Increasing Use of Connected Devices and Requirement of Managing Large Datasets to Drive NVMe Demand in Germany 10.3.3 France 10.3.3.1 France Expected to Be the Fastest-Growing NVMe Market in Europe 10.3.4 Rest of Europe 10.4 APAC 10.4.1 China 10.4.1.1 China LED NVMe Market in APAC in 2019 10.4.2 Australia 10.4.2.1 Australian NVMe Market Expected to Grow at Highest Rate Among APAC Countries During Forecast Period 10.4.3 Japan 10.4.3.1 Increased Adoption of Next-Generation Technologies Expected to Contribute to Growth of NVMe Market in Japan 10.4.4 South Korea 10.4.4.1 Flourishing Consumer Electronics Industry and Presence of Key Manufacturers of NVMe Fuel NVMe Market Growth in South Korea 10.4.5 India 10.4.5.1 Big Data, IoT, and Other Digital and Virtualized Platforms to Trigger Adoption of NVMe in India 10.4.6 Rest of APAC 10.5 RoW 10.5.1 Middle East & Africa 10.5.1.1 Established Market of Advanced Storage in UAE Drives NVMe Demand in Middle East & Africa 10.5.2 South America