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.
Moreover, the pre-requisite to emerging deep-tech applications, such as edge computing, 5G and 6G communication, autonomous vehicles, and natural language processing is data storage infrastructure embedded with optimum data access interface, which ensures high data transfer bandwidth, lower power consumption, and minimal latency, among others. Hence, these features can be obtained with NVMe interface in place, thereby expecting its significant growth during the forecasted period 2020-2025.
The NVMe technology has garnered adoption in various business organizations, such as manufacturing, telecommunication, healthcare, transportation, banking and financial, government agencies, and educational institutions, among others to increase their operational productivity. As the commercial organizations, such as financial institutions and government agencies are majorly responsible for maintaining personal and financial records of citizens, therefore there is a need for NVMe interface in storage devices to maintain the organizational work efficiency. Catering to the manufacturing industry, the high demand for NVMe-enabled storage is attributed to the increased adoption of intelligent platform for connecting the devices and machines. Moreover, government initiatives for setting up a smart factory are also leading to high adoption rate of NVMe storage devices in this industry.
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.
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
Amazon Web Services, Inc.
Cisco Systems Inc.
Hewlett Packard Enterprise
Huawei Technologies Co., Ltd.
Marvell Technology Group Ltd.
Micron Technology, Inc
Samsung Electronics Co. Ltd.
Toshiba Memory Corporation
For more information about this report visit https://www.researchandmarkets.com/r/s5a7dq
View source version on businesswire.com: https://www.businesswire.com/news/home/20201026005475/en/
Laura Wood, Senior Press Manager
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