Non-volatile Memory Express (NVMe) Market in ASIA Pacific Region is growing at a CAGR of 34.3%

The non-volatile memory express (NVMe) market is Asia Pacific is projected to grow from USD 9.9 billion in 2020 to USD 43.5 Billion by 2025; it is expected to grow at a CAGR of 34.3% from 2020 to 2025.

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The growth of the non-volatile memory express (NVMe) market in Asia Pacific is driven by significant performance advancements offered by NVMe, and increasing adoption of NVMe technologies in servers, SSDs, and storage appliances. End-to-end NVMe over fabrics (NVMe-Of), and growing adoption of NVMe for artificial intelligence, IoT, big data, and blockchain are creating market opportunities for non-volatile memory express (NVMe) across the Asia Pacific.

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

The all-flash arrays segment is expected to grow at a high CAGR across Asia Pacific NVMe market during the forecast timeframe. The high growth rate is credited to the increasing adoption of all-flash arrays across enterprises and data centers in the Asia Pacific region. NVMe-based all-flash arrays use flash memory and provide high-end connectivity from drivers such as vSphere, Linux kernel, and Windows. These NVMe-based all-flash arrays also offer several benefits, such as faster read/write operations, faster input/output operations per second (IOPS), and low latency. Since all-flash arrays have no moving parts, it requires less maintenance, generates less heat, and utilizes less power. These high-end features offered by the all-flash arrays is expected to fuel its adoption in the market over the forecast period.

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

The healthcare vertical in Asia Pacific NVMe market is projected to grow at a high CAGR during the forecast timeline. Advancements drive the high growth rate in telemedicine, healthcare robotics, and advanced medical research. Many healthcare organizations across Asia Pacific have started improving their data storage and management for analytics purposes. With adequate data storage, it is easy to record, analyze, and track any patient's medical records. New offerings in healthcare, such as collaborative solutions through mobile devices, video conferencing, and built-in applications, enable the adoption of NVMe-based products and storage solutions that offer advanced data storage. This in turn, will fuel the adoption of NVMe-based solutions across the healthcare sector in the Asia Pacific region in coming years.

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

During the forecast period, Japan is expected to witness high market share in the Asia Pacific non-volatile memory express (NVMe) market. In recent years, the adoption rate of cloud by SMEs in Japan has been very high, primarily driving the country's cloud infrastructure. The market for cloud services in Japan is matured. The country is one of the most developed markets for cloud services while maintaining substantial growth potential for providers. This further drives the demand for NVMe for high-performance computing requirements of cloud services over the forecast period. Adding to this, favorable government initiatives and funding activities by the regional government will further support the NVMe market growth across Japan. For instance, in September 2022, the Japanese Government announced to provide a subsidy of USD 320 million to US-based chipmakers Micron Technology, Inc. (US) to support its plan to produce advanced memory chipsets at the Hiroshima factory in Japan. Such supportive initiatives will further boost the NVMe market growth across the region.

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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.

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This release was published on openPR.