The global NVMe market size is projected to grow from USD 44.6 billion in 2019 to USD 163.5 billion by 2025; it is expected to grow at a CAGR of 29.7% from 2020 to 2025. The major factors driving the growth of the market include the increasing adoption of NVMe technologies in SSDs, servers, and storage appliances; exponential rise in data generation and evolving demand for data storage and processing infrastructure; and significant performance advancements offered by NVMe.
Samsung Electronics Co., Ltd. (Samsung) (South Korea), Western Digital Corporation (Western Digital) (US), Intel Corporation (Intel) (US), Dell EMC (US), Hewlett Packard Enterprise (HPE) (US), Broadcom Inc. (Broadcom) (US), Micron Technology, Inc. (Micron Technology) (US), Cisco Systems, Inc. (Cisco) (US), Toshiba Corporation (Toshiba) (Japan), and NetApp, Inc. (NetApp) (US) are the prominent players in the global NVMe market.
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Top 2 players in the NVMe market are:
As part of its core strategy, Intel has adopted a virtuous cycle of growth, enabling the expansion of memory, cloud, data centers, and connected devices. The demand for data storage is increasing as a large number of components and devices are becoming increasingly connected to each other. This is being effectively addressed by the company’s advanced memory technologies and storage devices solutions. To be technologically competitive, the company invests mainly in R&D. In 2018, Intel invested approximately USD 13.5 billion in R&D. These R&D efforts help the company constantly upgrade and expand its portfolio of products and services, gain an edge over its competitors, and exploit new opportunities. In addition, Intel focuses on product launches as an effective strategy to expand its SSD business worldwide.
Western Digital (US)
Western Digital has its presence in more than 50 countries and caters to the major revenue generating sectors, such as government, business, education, and transportation. The company mainly focuses on the development of its models and designs to make them suitable and easy-to-use solutions to improve sales. It focuses on data storage solutions and is always innovating and expanding its portfolio to address different memory requirement needs across various end-user markets. For instance, the Ultrastar NVMe Series and the WD NVMe Black PCIe SSDs are used for content streaming and distribution in the media & entertainment market. The company has adopted the inorganic growth strategy of acquiring other storage and networking companies to enhance its product portfolio.
Non-volatile Memory Express (NVMe) Market by Product (SSDs, Servers, All-flash Arrays, Adapters), Deployment Location (On-premise, Remote, Hybrid), Communication Standard (Ethernet, Fibre Channel, InfiniBand), Vertical, and Region - Global Forecast to 2025
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