Product Code: GVR-4-68040-792-8
Non-Volatile Memory Express Market Summary
The global non-volatile memory express market size was estimated at USD 128.96 billion in 2024 and is projected to reach USD 876.53 billion by 2033, growing at a CAGR of 23.83% from 2025 to 2033. The non-volatile memory express (NVMe) market is driven by the increasing demand for high-performance storage solutions across enterprise data centers, cloud environments, and AI/ML workloads.
The rapid growth of data traffic requires scalable and low-latency storage infrastructure, driving NVMe adoption for faster data access and processing. NVMe market expansion is driven by the escalating demand for high-speed, low-latency data storage solutions across diverse sectors. Enterprises and cloud service providers increasingly adopt NVMe SSDs to support data-intensive applications, such as artificial intelligence, machine learning, and big data analytics, which require rapid data processing and high throughput for optimized performance. This demand catalyzes the shift from traditional storage interfaces to NVMe due to its superior efficiency in handling simultaneous input/output operations.
Advancements in NVMe technology, including the development of NVMe over Fabrics (NVMe-oF), extend the benefits of high-speed storage across networks, enabling scalable and efficient shared storage environments. This progression supports distributed and cloud data centers by enhancing resource utilization and lowering latency in large-scale data processing. The integration of NVMe solutions in telecommunications, particularly fueled by 5G deployment, further accelerates demand as these networks necessitate enhanced storage capabilities to manage vast data volumes generated by connected devices.
Moreover, the continuous improvement in NAND flash memory technology underpins the cost-effectiveness and performance of NVMe SSDs. Innovations in 3D NAND and controller designs increase data density while reducing production costs, making NVMe storage more accessible to enterprises and consumers. These technological upgrades contribute to lowering the total cost of ownership and foster widespread adoption of NVMe storage, including in consumer electronics, automotive infotainment, and advanced driver-assistance systems.
Global Non-Volatile Memory Express Market Report Segmentation
This report forecasts revenue growth on global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global non-volatile memory express market report based on the communication standard, deployment, application, and region.
- Communication Standard Outlook (Revenue, USD Billion, 2021 - 2033)
- Ethernet
- Fiber Channel
- InfiniBand
- Deployment Outlook (Revenue, USD Billion, 2021 - 2033)
- Cloud
- On-Premises
- Hybrid
- Application Outlook (Revenue, USD Billion, 2021 - 2033)
- Media & Entertainment
- Consumer Goods & Retail
- IT & Telecommunications
- Healthcare
- BFSI
- Education
- Manufacturing
- Others
- Regional Outlook (Revenue, USD Billion, 2021 - 2033)
- North America
- Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Middle East and Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.2.1. Information Procurement
- 1.3. Information or Data Analysis
- 1.4. Methodology
- 1.5. Research Scope and Assumptions
- 1.6. Market Formulation & Validation
- 1.7. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Non-Volatile Memory Express (NVMe) Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Industry Challenge
- 3.3. Non-Volatile Memory Express (NVMe) Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic and Social landscape
- 3.3.2.3. Technological landscape
Chapter 4. Non-Volatile Memory Express (NVMe) Market: Communication Standard Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Non-Volatile Memory Express (NVMe) Market: Communication Standard Movement Analysis, 2024 & 2033 (USD Billion)
- 4.3. Ethernet
- 4.3.1. Ethernet Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 4.4. Fiber Channel
- 4.4.1. Fiber Channel Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 4.5. InfiniBand
- 4.5.1. InfiniBand Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Billion)
Chapter 5. Non-Volatile Memory Express (NVMe) Market: Deployment Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Non-Volatile Memory Express (NVMe) Market: Deployment Movement Analysis, 2024 & 2033 (USD Billion)
- 5.3. Cloud
- 5.3.1. Cloud Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 5.4. On-Premises
- 5.4.1. On-Premises Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 5.5. Hybrid
- 5.5.1. Hybrid Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Billion)
Chapter 6. Non-Volatile Memory Express (NVMe) Market: Application Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Non-Volatile Memory Express (NVMe) Market: Application Movement Analysis, 2024 & 2033 (USD Billion)
- 6.3. Media & Entertainment
- 6.3.1. Media & Entertainment Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 6.4. Consumer Goods & Retail
- 6.4.1. Consumer Goods & Retail Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 6.5. IT & Telecommunications
- 6.5.1. IT & Telecommunications Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 6.6. Healthcare
- 6.6.1. Healthcare Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 6.7. BFSI
- 6.7.1. BFSI Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 6.8. Education
- 6.8.1. Education Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 6.9. Manufacturing
- 6.9.1. Manufacturing Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Billion)
- 6.10. Others
- 6.10.1. Others Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Billion)
Chapter 7. Non-Volatile Memory Express (NVMe) Market: Regional Estimates & Trend Analysis
- 7.1. Non-Volatile Memory Express (NVMe) Market Share, By Region, 2024 & 2033 (USD Billion)
- 7.2. North America
- 7.2.1. North America Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, 2024 - 2033 (USD Billion)
- 7.2.1.1. North America Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Country, 2024 - 2033 (USD Billion)
- 7.2.1.2. North America Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.2.1.3. North America Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.2.1.4. North America Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.2.2. U.S.
- 7.2.2.1. U.S. Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.2.2.2. U.S. Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.2.2.3. U.S. Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.2.3. Canada
- 7.2.3.1. Canada Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.2.3.2. Canada Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.2.3.3. Canada Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.2.4. Mexico
- 7.2.4.1. Mexico Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.2.4.2. Mexico Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.2.4.3. Mexico Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.3. Europe
- 7.3.1. Europe Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, 2024 - 2033 (USD Billion)
- 7.3.1.1. Europe Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Country, 2024 - 2033 (USD Billion)
- 7.3.1.2. Europe Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.3.1.3. Europe Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.3.1.4. Europe Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.3.2. UK
- 7.3.2.1. UK Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.3.2.2. UK Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.3.2.3. UK Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.3.3. Germany
- 7.3.3.1. Germany Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.3.3.2. Germany Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.3.3.3. Germany Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.3.4. France
- 7.3.4.1. France Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.3.4.2. France Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.3.4.3. France Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, 2024 - 2033 (USD Billion)
- 7.4.1.1. Asia Pacific Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.4.1.2. Asia Pacific Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.4.1.3. Asia Pacific Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.4.2. China
- 7.4.2.1. China Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.4.2.2. China Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.4.2.3. China Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.4.3. Japan
- 7.4.3.1. Japan Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.4.3.2. Japan Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.4.3.3. Japan Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.4.4. India
- 7.4.4.1. India Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.4.4.2. India Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.4.4.3. India Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.4.5. South Korea
- 7.4.5.1. South Korea Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.4.5.2. South Korea Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.4.5.3. South Korea Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.4.6. Australia
- 7.4.6.1. Australia Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.4.6.2. Australia Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.4.6.3. Australia Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.5. Latin America
- 7.5.1. Latin America Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, 2024 - 2033 (USD Billion)
- 7.5.1.1. Latin America Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Country, 2024 - 2033 (USD Billion)
- 7.5.1.2. Latin America Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.5.1.3. Latin America Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.5.1.4. Latin America Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.5.2. Brazil
- 7.5.2.1. Brazil Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.5.2.2. Brazil Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.5.2.3. Brazil Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.6. Middle East and Africa
- 7.6.1. Middle East and Africa Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, 2024 - 2033 (USD Billion)
- 7.6.1.1. Middle East and Africa Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.6.1.2. Middle East and Africa Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.6.1.3. Middle East and Africa Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.6.2. UAE
- 7.6.2.1. UAE Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.6.2.2. UAE Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.6.2.3. UAE Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.6.3. KSA
- 7.6.3.1. KSA Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.6.3.2. KSA Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.6.3.3. KSA Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
- 7.6.4. South Africa
- 7.6.4.1. South Africa Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Communication Standard, 2024 - 2033 (USD Billion)
- 7.6.4.2. South Africa Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Deployment, 2024 - 2033 (USD Billion)
- 7.6.4.3. South Africa Non-Volatile Memory Express (NVMe) Market Estimates and Forecasts, by Application, 2024 - 2033 (USD Billion)
Chapter 8. Competitive Landscape
- 8.1. Company Categorization
- 8.2. Company Market Positioning
- 8.3. Participant's Overview
- 8.4. Financial Performance
- 8.5. Product Benchmarking
- 8.6. Company Heat Map Analysis
- 8.7. Strategy Mapping
- 8.8. Company Profiles
- 8.8.1. Broadcom
- 8.8.1.1. Participant's Overview
- 8.8.1.2. Financial Performance
- 8.8.1.3. Product Benchmarking
- 8.8.1.4. Recent Developments
- 8.8.2. Cisco Systems, Inc.
- 8.8.2.1. Participant's Overview
- 8.8.2.2. Financial Performance
- 8.8.2.3. Product Benchmarking
- 8.8.2.4. Recent Developments
- 8.8.3. Dell Inc.
- 8.8.3.1. Participant's Overview
- 8.8.3.2. Financial Performance
- 8.8.3.3. Product Benchmarking
- 8.8.3.4. Recent Developments
- 8.8.4. IBM
- 8.8.4.1. Participant's Overview
- 8.8.4.2. Financial Performance
- 8.8.4.3. Product Benchmarking
- 8.8.4.4. Recent Developments
- 8.8.5. Intel Corporation
- 8.8.5.1. Participant's Overview
- 8.8.5.2. Financial Performance
- 8.8.5.3. Product Benchmarking
- 8.8.5.4. Recent Developments
- 8.8.6. Marvell
- 8.8.6.1. Participant's Overview
- 8.8.6.2. Financial Performance
- 8.8.6.3. Product Benchmarking
- 8.8.6.4. Recent Developments
- 8.8.7. Micron Technology, Inc.
- 8.8.7.1. Participant's Overview
- 8.8.7.2. Financial Performance
- 8.8.7.3. Product Benchmarking
- 8.8.7.4. Recent Developments
- 8.8.8. SAMSUNG
- 8.8.8.1. Participant's Overview
- 8.8.8.2. Financial Performance
- 8.8.8.3. Product Benchmarking
- 8.8.8.4. Recent Developments
- 8.8.9. TOSHIBA CORPORATION
- 8.8.9.1. Participant's Overview
- 8.8.9.2. Financial Performance
- 8.8.9.3. Product Benchmarking
- 8.8.9.4. Recent Developments
- 8.8.10. Western Digital Corporation
- 8.8.10.1. Participant's Overview
- 8.8.10.2. Financial Performance
- 8.8.10.3. Product Benchmarking
- 8.8.10.4. Recent Developments