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Global Non-Volatile Memory Express (NVMe) Market

Focus on Device (SSD, All-Flash Array, Server, Adapter), End User (Enterprise, Client, Consumer), Communication (Ethernet, Fiber, InfiniBand) Industry (Manufacturing, Telecommunication, Transportation, Healthcare, Banking), Funding, Impact of COVID-19 - Analysis and Forecast, 2020-2025

 
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Answer – The global non-volatile memory express (NVMe) market is projected to grow with a significant CAGR of 42.66% during 2020-2025 and is expected to generate $115.35 billion by the end of 2025.

Answer – The market growth is favored by factors such as the continuous generation of process data and subsequent need for data storage systems, rising demand for improved performance of storage devices, and increased adoption of NVMe in data centers.

Answer – Owing to the increase in the deployment of smart factoring solutions, the manufacturing market is expected to generate the highest revenue by the end of 2025. Apart from this, NVMe technology is also used in other sectors such as healthcare, transportation, banking and finance, government agencies, and educational institutes.

Answer – The NVMe market growth experienced a downfall due to the COVID-19 pandemic as it resulted in the delay and restriction in the purchase of the NVMe storage devices from the end-user organizations. However, the market is estimated to revive sparsely during 2020 Q3 with a healthy rate from 2021.

Answer – Due to the high market penetration rate, the North American region dominates the global NVMe market over the years 2019-2025. However, the Asia-Pacific and Japan region is expected to emerge as one of the most lucrative markets for NVMe.

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