Non-Volatile Memory Express (NVMe) Market: Global Industry Analysis by Size, Share, Growth, Sourcing Strategy, Scope, Demand and Forecast to 2028

The global Non-Volatile Memory Express (NVMe) market size is expected to reach USD 353.78 Billion at a steady CAGR of 29.5% in 2028, according to latest analysis by Emergen Research. Growth of NVMe market can be attributed to the rising demand for SSD amongst various consumers across the globe. NVMe supports low latency and operational performance in different applications, which is boost deployment, and in turn driving market revenue growth.

Surge in digitalization and rising need to manage and store data efficiently are other factors supporting growth of the market. NVMe facilitates efficient and quick access to SSDs and has evolved as a preferred interface for storage amongst enterprises. Increase in volumes of data generated and need for more efficient storage systems is another factor driving growth of NVMe market. Increased adoption of NVMe in data centers is also fueling growth of the market.

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Some Key Highlights From the Report

In May 2021, Kingston Technology announced the launch of NV1 NVMe PCIe SSD. NV1 is an ideal entry-level drive for first-time NVMe users with small form factor PCs and laptops. NV1 has substantial storage capacities of up to 2TB, consumes less power, emits less heat, and has quick load times, which makes it ideal for users requiring rapid responsiveness and ultra-fast data access, but having systems with limited storage space.

Hybrid deployment is a combination of remote and on-premises systems. Hybrid deployment is gaining traction as companies need to maintain backups of important files and data in case of any eventuality at the premises. Hybrid NVMe storage solutions are generally adopted by those enterprises seeking to reap the benefits of other deployment modes, while also keeping capital expenditure low in on-premises deployment.

BFSI segment accounted for largest revenue share in 2020 due to rising use of digital payments and online banking, which has created rising need for backup, data storage, and security for customer credentials. BFSI sector is adopting the technology owing to a surge in application of ML and AI in the industry, which generates large data volumes, which is then used for further analysis.

Asia Pacific market revenue is expected to register a rapid growth rate during the forecast period due to increase in number of Internet users in countries in the region. Surge in demand for connected devices such as tablets, smartphones, and laptops is expected to continue to propel growth of the market in the region. Increasing demand for data storage solutions across large as well as small & medium sized enterprises will continue to drive growth of the Asia Pacific NVMe market to a significant extent going ahead.

Key players in the market include Micron Technology, Samsung Electronics, Hewlett Packard Enterprise (HPE), Intel Corporation, Toshiba Corporation, Dell EMC, Microchip Technology, Cisco Systems, IBM Corporation, and Renesas Electronics.

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Product Outlook (Revenue, USD Billion; 2018–2028)

Solid-State Drives (SSDs)



All-Flash Arrays


Others (I/O Accelerator Blocks, Switches, and Controllers)

Communication Standard Outlook (Revenue, USD Billion; 2018–2028)



Fiber Channel

Deployment Location Outlook (Revenue, USD Billion; 2018–2028)




Vertical Outlook (Revenue, USD Billion; 2018–2028)


IT & Telecommunication



Consumer Goods & Retail

Media & Entertainment

Education & Research



Business & Consulting


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Key questions answered in the report

What will be the market size in terms of value and volume in the next five years?

Which segment is currently leading the market?

In which region will the market find its highest growth?

Which players will take the lead in the market?

What are the key drivers and restraints of the market’s growth?

The report segments the Non-Volatile Memory Express (NVMe) market on the basis of geography, end-user, end-use, product application, type, share, growth rate and size to reveal where the industry will be in the coming years. The researchers assessing the industry have included the details about the recent decisions and events such acquisition and mergers, collaborations, product launch and investments. Important decisions connected with such events come handy for business owners when positioning their brands in the global market and finalizing the marketing strategies.

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Table of Content

Chapter 1. Methodology & Sources

1.1. Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

1.4.1. Primary

1.4.2. Secondary

1.4.3. Paid Sources

1.5. Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2019-2027

Chapter 3. Key Insights

Chapter 4. Non-Volatile Memory Express (NVMe) Market Segmentation & Impact Analysis

4.1. Non-Volatile Memory Express (NVMe) Market Material Segmentation Analysis

4.2. Industrial Outlook

4.2.1. Market indicators analysis

4.2.2. Market drivers analysis Stringent environmental regulations Rising need to reduce bacterial or algal contamination in water systems Increasing demand for biocides for municipal water treatment

4.2.3. Market restraints analysis Fluctuating prices of raw material Present challenging economic conditions due to the pandemic

4.3. Technological Insights

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.6. Competitive Metric Space Analysis

4.7. Price trend Analysis

4.8. Covid-19 Impact Analysis

Chapter 5. Non-Volatile Memory Express (NVMe) Market By Application Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)

Chapter 6. Non-Volatile Memory Express (NVMe) Market By Product type Insights & Trends Revenue (USD Million), Volume (Kilo Tons)

Chapter 7. Non-Volatile Memory Express (NVMe) Market Regional Outlook

Chapter 8. Competitive Landscape


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