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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Non-Volatile Memory Express (NVMe) Market Outlook
The global non-volatile memory express (NVMe) market attained a value of around USD 49.01 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of almost 26% to reach USD 392.14 billion by 2032.
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The global non-volatile memory express industry is being driven by the growing digitalisation and the increased need to manage and store data efficiently. NVMe facilitates quick and efficient access to SSDs (solid-state drive/storage device) and, thus, has become the preferred interface for storage among enterprises.
Properties and Applications
Non-volatile memory express or NVMe refers to a host controller interface and storage protocol, developed in order to enhance data transfer service between client and enterprise systems and solid-state drives (SSDs), and accessing non-volatile storage media attached over a computer's high-speed Peripheral Component Interconnect Express (PCIe) bus.
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The global non-volatile memory express market can be divided based on segments like components, communication standards, OS, applications, and regions.
- Component:
- Hardware
- SSD
- AIC
- QAT
- Storage Server
- NVMeoF Cards
- PCIe Connections
- Others
- Software
- Hardware
- Communication Standard:
- Ethernet
- Fibre Channel
- InfiniBand Network
- OS:
- Chrome OS
- DragonFly BSD
- Free BSD
- Haiku
- Illumos
- iOS
- Linux
- Windows
- Open BSD
- Others
- Applications:
- OLTP
- OLAP
- Cloud Services
- Caching
- Primary Storage
- Data Virtualization
- Others
The EMR report looks into the regional non-volatile memory express markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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Global Non-Volatile Memory Express (NVMe) Market Analysis
The growing demand to facilitate high-speed data transmission, consistent modifications in the specifications, and the growing digitalisation in enterprises has resulted in the increased demand for non-volatile memory express, thus, aiding the growth of the industry. The increased adoption of cloud-hosting services is influencing manufacturers to further develop this technology to enhance data transmission, which is likely to aid the industry over the forecast period. The deployment of NVMe from niche to mainstream business has increased in the past few years, which is expected to boost the industry growth in the future.
The Asia Pacific is expected to witness the fastest growth rate over the forecast period due to the growing need for enterprises to optimise their business processes with rapid industrialisation in the region. Within the Asia Pacific, China and India have witnessed a massive growth in the number of smartphone users, which will aid the industry growth in the region over the forecast period.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global non-volatile memory express market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Samsung Electronics Co., Ltd.
- Western Digital Corporation
- Intel Corporation
- Broadcom Inc.
- Others
The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter's Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Communication Standard |
|
| Breakup by OS |
|
| Breakup by Applications |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global non-volatile memory express (NVMe) market attained a value of nearly USD 49.01 billion.
The market is projected to grow at a CAGR of 26% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach nearly USD 392.14 billion by 2032.
The increasing product demand across various industries, rising usage of cloud-hosting services, heightened demand for high-speed data transmission, and the increased adoption of NVMe across mainstream businesses are driving the market.
The key trends guiding the market are rapid digitisation and the increasing demand for efficient data storage solutions.
The major regions in the market are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
The significant components of the product include hardware and software.
The major communication standards of non-volatile memory express considered in the market report include ethernet, fibre channel, and InfiniBand network.
The major segments, on the basis of OS, in the market include Chrome OS, DragonFly BSD, Free BSD, Haiku, Illumos, iOS, Linux, Windows, and Open BSD, among others.
The different applications of non-volatile memory express include OLTP, OLAP, cloud services, caching, primary storage, and data virtualisation, among others.
The major market players include Samsung Electronics Co., Ltd., Western Digital Corporation, Intel Corporation, and Broadcom Inc., among others.
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