With anticipated revenues rising from USD 44.6 billion in 2020 to USD 163.5 billion by 2025, the Non-volatile Memory Express (NVMe) Market is anticipated to witness significant growth. Between 2020 and 2025, this translates into a compound annual growth rate (CAGR) of 29.7%.

The Asia Pacific region's non-volatile memory express (NVMe) industry is expanding significantly, primarily as a result of the huge performance gains made possible by NVMe technology. With its quicker data transfer speeds, lower latency, and enhanced storage performance compared to conventional storage interfaces, NVMe has revolutionised storage systems. Another important element driving the market's expansion in the Asia Pacific region is the growing use of NVMe technologies in servers, SSDs, and storage appliances. The advantages of NVMe in terms of better storage efficiency and quicker data access, which results in increased overall system performance, are being recognised by businesses across a variety of industries.

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Driver: Growing Digitalization Across Various Industry Verticals Creating High Demand for High-end Data Storage and Processing Infrastructure

The demand for high-end data processing and storage infrastructure is being driven by the rapid digitization across numerous industrial sectors. Companies' production of digital data has dramatically increased over the past few years, which makes it difficult to efficiently manage and analyse such vast volumes of data. The growing digitization of business processes and the production of various content types are largely to blame for this data boom. The generation of information, such as documents, photographs, and audio/video files, has significantly increased as more firms adopt digital transformation. This has led to an enormous volume of unstructured data and material that needs to be efficiently handled, stored, and analysed. This influx of data frequently overwhelms conventional storage and processing systems, forcing the investigation of more sophisticated and scalable solutions.

Challenge: Data integrity and data protection concerns

The storage market has considerable issues with regard to data integrity and data protection, particularly when it comes to solid-state drives (SSDs). One SSD technique, called "wear levelling," entails wiping blocks before storing new data and using recently erased blocks to store modified data. However, because the old data is still present in the old block after this process, data integrity issues may arise. Individual cells within a block of cells are changed when an SSD operates, and each cell has a maximum amount of writes it can withstand before losing functionality and causing data loss. The integrity of the data may be at risk due to its short-lived endurance, sometimes referred to as write endurance or program-erase cycles. When an SSD approaches its write endurance limit, it may start to experience data loss or corruption.

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By product, all-flash arrays segment is projected to grow at high rate in the Asia Pacific NVMe market during the forecast period

In the Asia Pacific NVMe market, the all-flash arrays category is anticipated to expand significantly and at a rapid compound annual growth rate (CAGR) throughout the course of the forecast period. This development can be ascribed to the region's businesses and data centres adopting more all-flash arrays. Flash memory is used by NVMe-based all-flash arrays, which also provide sophisticated connectivity via Linux kernel, Windows, and vSphere drivers. Faster read/write operations, more input/output operations per second (IOPS), and low latency are just a few advantages that these arrays offer. All-flash arrays contain no moving parts in comparison to conventional storage options, which reduces the need for maintenance, lowers heat generation, and increases energy efficiency.

All-flash arrays are a top option for businesses in need of high-performance storage solutions due to their premium features. The usage of all-flash arrays is anticipated to rise in the Asia Pacific region as a result of the exponential expansion in data and the need for faster data processing and retrieval. All-flash arrays play a critical role in helping businesses and data centres satisfy their storage needs and achieve superior performance. The advantages of better data access, reduced latency, and energy efficiency are driving an increase in the use of all-flash arrays across a variety of industries.

By vertical, the healthcare segment in Asia Pacific NVMe Market is stipulated to witness a high growth rate

Healthcare is expected to experience rapid growth in the Asia Pacific NVMe market due to a number of factors. The rising use of NVMe technology in the healthcare sector is being facilitated by developments in telemedicine, healthcare robotics, and cutting-edge medical research. Healthcare institutions in the Asia Pacific area are realising how crucial it is to enhance their data management and storage capacities for analytics. Having a sufficient storage infrastructure is essential for efficiently capturing, analysing, and tracking medical records due to the growing volume of patient data. Healthcare organisations may easily manage massive datasets thanks to the superior data storage capabilities provided by NVMe-based products and storage systems.

The adoption of NVMe-based solutions is being accelerated by the rise of collaborative healthcare solutions made possible by mobile devices, video conferencing, and built-in applications. In addition to enhancing patient care and simplifying data sharing and analysis, these technologies offer seamless communication and collaboration amongst healthcare personnel.

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Japan is projected to witness a high market share in the APAC market from 2020 to 2025

From 2020 to 2025, Japan is anticipated to hold a sizable market share in the Asia Pacific non-volatile memory express (NVMe) market. The high rate of cloud service adoption in Japan, particularly among SMEs, is a major factor in the growth of the NVMe market there. The Japanese cloud infrastructure market is mature and still has room for expansion for service providers. The desire for high-performance computing in cloud services is what is driving NVMe demand in Japan. In order to accommodate the rising workloads and data volumes, there is a larger need for effective and quick storage solutions like NVMe.

Additionally, the Japanese government has put in place supportive programmes and funded efforts to aid in the development of the NVMe market. The government announced in September 2022 that Micron Technology, Inc., a US-based chipmaker, would get a USD 320 million subsidy to support its ambition to manufacture sophisticated memory chipsets at a factory in Hiroshima, Japan. Such activities not only boost the regional NVMe market but also aid in the expansion of the nation's technology industry as a whole.

Key Players in the Market

The key players operating in the Asia Pacific non-volatile memory express (NVMe) market are Kioxia Corporation (Japan), SK Hynix, Inc. (South Korea), Renesas Electronics Corporation (Japan), SAMSUNG (South Korea), Intel Corporation (US), and Western Digital Corporation (US), among others.

In October 2022, Western Digital Corporation (US) launched its new gaming PCIe Gen-4 SSD based on NVMe technology. The new SSD offers data transfer speed upto 7,300 MB/s and this SSD is targeted for launch in the Indian market.

In March 2021, SAMSUNG (South Korea) launched new 980 NVMe SSD. The new SSD offers sequential read and write speeds at up to 3,500 and 3,000 MB/s, respectively. The new SSD is suitable for applications for everyday PC users and gamers.

News Covered:

https://www.prnewswire.com/news-releases/non-volatile-memory-express-nvme-market-worth-163-5-billion-by-2025--exclusive-report-by-marketsandmarkets-301000188.html

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