Transparency Market Research (TMR) finds that the global non-volatile memory express market is taking shape of a highly competitive vendor landscape. Additionally, these players are focusing on the collaboration mainly for improving the areas such as marketing, sales, and production. These players are also focusing on the adoption of organic methods and investments in order to increase production capacity of the plants to meet rising demand from customers. Some of the key players in the global non-volatile memory express (NVMe) market include Broadcom Inc., Cisco, IBM, Dell, Intel Corporation, Micron Technology, Inc., Marvell, Microsemi, Oracle, NetApp, Samsung, Western Digital Corporation, and Toshiba Corporation.
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Asia Pacific to Remain Dominant in the Coming Years
Regionally, the market is dominated by the Asia Pacific region and is estimated to remain dominant in the coming years owing to rising penetration of SSDs (solid state drives) in the region. Further, the rising demand for the cloud-based technologies as well as hyperscale technology in the region benefits the market growth. The developed countries are mature markets for the technology; thus, the key players are increasingly focusing to expand their business across developing regions including South America, the Middle East & Africa, and Asia Pacific by knowing potential opportunities in the global non-volatile memory express (NVMe) market.
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Non-volatile memory express (NVMe) is an interface between the host as well as data storage, which creates a command set for SSDs. The PCIe (peripheral component interconnect express) based SSDs are aimed to enhance performance and interoperability of a broad range of enterprises and clients. Additionally, the NVMe has low power consumption by offering high output that results in improved performance for command handling. This improved performance of devices is boosting market growth and is likely to be key factor driving growth of the global non-volatile memory express (NVMe) market.
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Rising Digitalization Boosts the Market Growth
According to analysts at TMR, the global non-volatile memory express (NVMe) market is estimated to expand at a CAGR of 28% during the forecast period. Additionally, rising usage of SSDs are creating robust opportunities so that the market is likely to grab a value of US$159 bn by 2027 from a value accumulated in 2018 of US$19 billion. Further, with high population density, a surge in penetration of smartphones and other electrics devices globally, and especially in developing countries is boosting non-volatile memory express (NVMe) market. Additionally, reliance on digitalization to achieve business growth globally and in developing countries is propelling growth of the global non-volatile memory express (NVMe) market.
Moreover, the concerns over high cost of software and hardware, which are adopted by enterprises along with high cost of technological innovations, are restraining growth of the global non-volatile memory express (NVMe) market to a certain extent. Nevertheless, the efficiency, productivity, flexibility, and comfort of using the software with cloud computing will witness growth opportunities in coming years. Further, the enterprises are increasingly availing cloud services issues such as cyber security, quality control, and handling big data, which has boosted the uptake of cloud service providers to key end users of NVMe. This could offer robust opportunities for growth in coming years. Further, the key players are trying to get leverage from the advancements occurring in non-volatile memory express (NVMe) and is likely to fuel market growth in coming years.
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This information is encompassed in the report by TMR, titled, "Non-volatile Memory Express (NVMe) Market (Component: Hardware (SSD, AIC, QAT, Storage Server, NVMeoF Cards, PCIe Connections, and Others) and Software; Communication Standard: Ethernet, Fiber Channel, and InfiniBand Network; Deployment Location: On-premise, Public Cloud, Private Cloud, and Co-lo Datacenters; Application: OLTP, OLAP, Cloud Services, Caching, Primary Storage, Data Virtualization, and Others; and End User: Hyperscale (Facebook, Amazon, Microsoft, Google, Tencent, Alibaba, and Baidu), Cloud Service Providers, and Enterprise/Traditional On-premises Datacenters) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027."
For the study, the non-volatile memory express (NVMe) market has been segmented as follows:
-- Fiber Channel
-- Infiniband Network
-- Public Cloud
-- Private Cloud
-- Co-lo Datacenters
-- Cloud Services
-- Primary Storage
-- Data Virtualization
-- Cloud Service Providers
-- Enterprises/ Traditional On-premises Datacenters
-- North America
-- Rest of North America
-- Rest of Europe
-- Asia Pacific
-- Rest of Asia Pacific
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