The global market for Non-Volatile Memory Express (NVMe) was valued at US$212 Billion in 2024 and is projected to reach US$888.9 Billion by 2030, growing at a CAGR of 27% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Global Non-Volatile Memory Express (NVMe) Market - Key Trends and Drivers Summarized
Why Is Non-Volatile Memory Express (NVMe) Transforming Data Storage?
Non-Volatile Memory Express (NVMe) has emerged as a groundbreaking protocol in data storage, designed to deliver faster and more efficient access to solid-state drives (SSDs). Unlike traditional storage protocols such as SATA and SAS, NVMe offers low latency and high throughput by directly interfacing with the CPU, enabling faster read and write operations. NVMe is used across various applications, including data centers, cloud computing, artificial intelligence (AI), and enterprise servers, where rapid data processing and real-time analytics are critical. With data-intensive workloads on the rise, NVMe is becoming an essential technology for enhancing storage performance, scalability, and reliability in modern IT infrastructures.What Are the Key Segments in the NVMe Market?
Key components include NVMe hardware, such as SSDs and adapters, and NVMe software, which provides management tools and driver support. In terms of deployment, the market covers on-premise, cloud, and hybrid models, with cloud and hybrid deployments witnessing significant growth due to their scalability and flexibility. Major end-users of NVMe technology include data centers, IT enterprises, financial services, healthcare, and telecommunications, all of which require high-speed storage solutions to handle large volumes of data and enable real-time analytics. The widespread adoption of AI, machine learning, and big data analytics has further expanded the use of NVMe across these sectors.How Is NVMe Being Adopted Across Various Industries?
Data centers are the largest adopters of NVMe technology, leveraging its high-speed capabilities to support virtual machines, cloud workloads, and databases. IT enterprises use NVMe to enhance application performance, enabling faster access to critical data in enterprise resource planning (ERP) systems, customer relationship management (CRM) software, and big data analytics platforms. In the financial services sector, NVMe is used to accelerate transaction processing, risk analysis, and trading operations, where speed and reliability are paramount. Healthcare organizations use NVMe to manage electronic health records (EHRs), imaging data, and AI-driven diagnostics. Additionally, telecommunications companies are adopting NVMe for faster data transfer in 5G networks and edge computing applications.What Factors Are Driving the Growth in the NVMe Market?
The growth in the Non-Volatile Memory Express (NVMe) market is driven by several factors, including the increasing demand for high-speed storage solutions to support data-intensive applications such as AI, big data, and cloud computing. The shift toward digital transformation, particularly in sectors like finance, healthcare, and telecommunications, has fueled the adoption of NVMe due to its ability to reduce latency and improve data processing speed. Technological advancements in NVMe architecture, such as PCIe 4 and PCIe 5 interfaces, have further enhanced performance, driving broader deployment across IT infrastructures. The growing focus on edge computing and 5G networks has also increased demand for NVMe-based storage solutions that offer faster access to real-time data. Additionally, the expansion of cloud services, combined with the increasing need for scalable and reliable storage, is contributing to the growth of the NVMe market.Report Scope
The report analyzes the Non-Volatile Memory Express (NVMe) market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.Segments
Product (Solid-State Drives, Adapters, All-Flash Arrays, Servers, Other Products); Deployment (On-Premise, Remote, Hybrid); Vertical (BFSI, IT & Telecom, Consumer Goods & Retail, Media & Entertainment, Healthcare, Energy, Other Verticals).Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Solid-State Drives segment, which is expected to reach US$429.5 Billion by 2030 with a CAGR of a 27.9%. The Adapters segment is also set to grow at 23.9% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $62.9 Billion in 2024, and China, forecasted to grow at an impressive 25.9% CAGR to reach $132.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Broadcom, Cisco, Dell Inc., Excelero, Kingston Technology Europe Co LLP, IBM Corporation and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Non-Volatile Memory Express (NVMe) Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Non-Volatile Memory Express (NVMe) Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Non-Volatile Memory Express (NVMe) Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 36 major companies featured in this Non-Volatile Memory Express (NVMe) market report include:
- Broadcom
- Cisco
- Dell Inc.
- Excelero, Kingston Technology Europe Co LLP
- IBM Corporation
- Intel Corporation
- Lenovo
- Marvell
- Micron Technology, Inc.
- Microsemi
- NetApp
- Oracle
- Pure Storage, Inc.
- Samsung
- Toshiba Memory Corporation
- Western Digital Corporation
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Broadcom
- Cisco
- Dell Inc.
- Excelero, Kingston Technology Europe Co LLP
- IBM Corporation
- Intel Corporation
- Lenovo
- Marvell
- Micron Technology, Inc.
- Microsemi
- NetApp
- Oracle
- Pure Storage, Inc.
- Samsung
- Toshiba Memory Corporation
- Western Digital Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 92 |
| Published | March 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 212 Billion |
| Forecasted Market Value ( USD | $ 888.9 Billion |
| Compound Annual Growth Rate | 27.0% |
| Regions Covered | Global |
