How Has The Non-Volatile Memory Express (NVMe) Market Size Evolved Historically?
The non-volatile memory express (nvme) market has seen considerable growth due to a variety of factors.
• The growth of the non-volatile memory express (NVMe) market has been significant in the past few years. Its size is projected to increase from $87.99 billion in 2024 to $116.24 billion in 2025, marking a 32.1% compound annual growth rate (CAGR).
Factors contributing to this growth in the historical period include the adoption of data centers, increasing data volumes, a growing emphasis on energy efficiency, expansion in the healthcare and life sciences sectors, and growth in emerging markets.
What Will Be The Non-Volatile Memory Express (NVMe) Market Size In The Future?
The non-volatile memory express (nvme) market is expected to maintain its strong growth trajectory in upcoming years.
• The market for non-volatile memory express (NVMe) is predicted to undergo significant expansion in the coming years. Forecasts project it to reach a worth of $328.69 billion by 2029, at a compound annual growth rate (CAGR) of 29.7%.
The surge within this period is linked to the escalation of IT infrastructure, increasing digitalization, the burgeoning gaming industry, and rising disposable income. Noteworthy trends forecasted for this period encompass the integration of edge computing, the rise of NVMe over fabrics (NVMe-oF), acceleration in AI and machine learning, security improvements, along with customization and integration.
What Are The Primary Growth Drivers In The Non-Volatile Memory Express (NVMe) Market?
The surge in the uptake of cloud-hosting services is anticipated to propel the non-volatile memory express (NVMe) market. Cloud hosting facilitates the use of cloud resources by websites and applications. This is not the case with traditional hosting where solutions are not implemented on a singular server. The heightened adoption of cloud-hosting services could potentially fuel the demand for NVMe, given their key role in enhancing the performance and interoperability of a range of enterprise-level services. As per Gartner Inc., a consulting organization based in the US, cloud services are slated to supersede conventional solutions, accounting for more than 45% of IT expenditure on system infrastructure, infrastructure software, application software, and business process outsourcing by 2024. Hence, the growth in the adoption of cloud-hosting services is likely to spur the demand for non-volatile memory express (NVMe) throughout the projection period.
What Is The Segmentation Of The Global Non-Volatile Memory Express (NVMe) Market?
The non-volatile memory express (NVMe) market covered in this report is segmented –
1) By Product: Solid-state Drives (SSDs), Adapters, All-flash Arrays, Servers, Other Products
2) By Communication Standard: Ethernet, Fiber Channel, InfiniBand
3) By Vertical: Banking, Financial Services, and Insurance (BFSI), Consumer Goods & Retail, Telecommunications & Information Technology enabled Services (ITeS), Healthcare, Energy, Government, Education & Research, Media & Entertainment, Manufacturing, Other Verticals
Subsegments:
1) By Solid-State Drives (SSDs): NVMe SSDs (Consumer), NVMe SSDs (Enterprise), M.2 NVMe SSDs, U.2 NVMe SSDs, PCIe NVMe SSDs
2) By Adapters: NVMe to SATA Adapters, NVMe to PCIe Adapters, M.2 to PCIe Adapters
3) By All-Flash Arrays: Hybrid All-Flash Arrays, Pure Flash Arrays
4) By Servers: NVMe-Enabled Servers, Hyper-Converged Infrastructure (HCI) Servers
5) By Other Products: NVMe Storage Switches, NVMe Fabrics, Other NVMe-Enabled Devices
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What Emerging Trends Are Shaping The Non-Volatile Memory Express (NVMe) Market Landscape?
There is a rising trend of technology innovations in the non-volatile memory express (NVMe) sector. Corporations majoring in NVMe are launching novel products and technologies, ensuring their dominant presence in the market. A case in point is Kingston Digital, an American commercial technology firm that specializes in creating, producing, marketing, and supporting flash memory items and additional computer memory-related products. They introduced the NV2 PCIe 4.0 NVMe SSD in October 2022. This state-of-the-art storage device, driven by a Gen 4x4 NVMe controller, caters to consumers needing robust Gen 4x4 NVMe PCIe execution in a compact design. It is the perfect fit for slender notebooks, mini systems, and DIY motherboards.
Who Are the Key Players in the Non-Volatile Memory Express (NVMe) Market?
Major companies operating in the non-volatile memory express (NVMe) market include:
• Intel Corporation.
• Toshiba Corporation
• Samsung Electronics Co. Ltd.
• Adesto Technologies Corporation
• Viking Technology
• Crossbar Inc.
• Kilopass Technology Inc.
• Sidense Corporation
• Sandisk Corporation
• Micron Technology Inc.
• Honeywell Corporation.
• STMicroelectronics NV
• Avalanche Technology's
• Cypress Semiconductor Corporation
• Everspin Technologies Inc.
• Western Digital Technologies Inc.
• KIOXIA Holdings Corporation.
• SK hynix Inc.
• Microchip Technology Inc.
• ROHM Co. Ltd.
• Renesas Electronics Corporation
• Infineon Technologies AG.
• Nantero Inc.
• Winbond Electronics Corporation.
• Pure Storage Inc.
What are the Regional Insights into the Non-Volatile Memory Express (NVMe) Market?
North America was the largest region in the non-volatile memory express (NVMe) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the non-volatile memory express (NVMe) market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
