NVMe over Fiber Channel Market Snapshot
The demand for NVMe over fiber channel is expected to top US$ 30.36 Bn in 2021. As per Future Market Insights (FMI) analysis, the market will register impressive growth at 23.7% CAGR between 2021 and 2031, as enterprises around the world exhibit higher demand for NVMe over fiber channel.
Newly released data on NVMe over fiber channel market indicates a 22% y-o-y growth in 2021. NVMe SSD will continue to have the largest market share among product types. Growth in the segment is expected to unfold at a little below 30% CAGR over the course of the assessment period.
Key Points Covered in NVMe over Fiber Channel End-user Survey
- Market Estimates and Forecast 2016-2031
- Key Drivers and Restraints Impacting Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on NVMe over Fiber Channel and How to Navigate
- Recommendation on Key Winning Strategies
2016-2020 NVMe over Fiber Channel Demand Outlook Compared to 2021-2031 Forecast
The global NVMe over fiber channel market size is expected to rise at a CAGR of 23.7% during the forecast period 2021-2031, in comparison to 20.8% CAGR registered between 2021 and 2031.
Initially, traditional SSDs were used more commonly across various applications. However, with the introduction of NVMe SSD, there has been a huge rise in switch towards NVMe SSDs. One of the major differences between SSDs and NVMe SSDs is that traditional SSDs store data with the help of integrated circuits whereas, NVMe is an interface used to access the data which is stored, at a much higher speed.
NVMe is more progressive than SSDs. It is therefore better encrypted and faster than the traditional SSDs. Consequently, the high demand for NVMe SSD are expected to drive the growth of the market on a global scale. The global market valuation is anticipated to reach over US$ 255.64 Bn by 2031.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
How is Exponential Data Generation across Enterprises Affecting NVMe over Fiber Channel Sales Outlook?
In 2020, the amount of data created and replicated has touched a new high. With a huge rise in the data-generating devices such as wearable electronics, smartphones, connected devices, and others, there has been an exponential rise in data generation.
Moreover with the growing popularity of cloud computing and Internet of things, there has been a massive rise in the overall volumes of data captured, created, copied, and consumed globally. Furthermore, the volume of digital data generated over the next five years is anticipated to be much greater than the volume of data generated since the advent of digital storage.
With such massive rise in data generation, there arises a need for efficient data processing and storage tools and technologies. NVMe over fiber channel offers highly optimized storage solution while reducing the latencies. Owing to this, NVMe technologies are increasingly being used in SSDs, servers, and storage appliances, thereby driving the market growth.
Which Growth Strategies are Highly Sought-after among NVMe over Fiber Channel Providers?
Companies operating in the market are delivering NVMe compatible products and solutions proactively, to help end users maneuver through the ever-changing requirements.
With the technological advancements in NVMe, there has been a rise in use of NVMe technologies in SSDs, servers, and storage appliances. Companies have been working with software development teams to cater to their demand for customization, aimed at meeting their frequently-changing industry specific requirements.
Why is the Demand for NVMe over Fiber Channel Surging in the U.S.?
According to the Future Market Insights analysis, the overall NVMe over fiber channel spending in the U.S. alone is likely to increase at a rate of 21.8% between 2021 and 2031, with a market value of US$ 5.19 Bn in 2021.
The U.S. will emerge as the largest market for the NVMe over fiber channel in North America, due to the strong presence of providers such as Intel Corporation, Cisco Systems, and IBM Corporation.
The growth in the region is majorly attributed to the early acceptance of advanced and upcoming technologies in the region. Furthermore, growing adoption of NVMe for Big Data, IoT, Artificial Intelligence, and Blockchain across data-driven organizations has led to a huge rise in demand for NVMe over fiber channel. Thereby driving the growth in the region.
Furthermore, the rising penetration of smartphones and internet in the country also contributed to the rise in data generation. With such massive rise in data generation, there arises a need for efficient data processing and storage tools and technologies. Thereby driving the market growth.
Is Germany a Lucrative Market for NVMe over Fiber Channel?
The market in Germany is anticipated to be valued around US$ 17.5 Bn by 2031. In recent years, many SMEs in European countries including the U.K., France, and Germany are deploying NVMe over fiber channel products owing to the growing demand for reduced latencies and improved response times as compared to the traditional SSDs.
Germany, UK, and other countries in Europe are projected to observe significant amount of growth in the market for NVMe over fiber channel due to the changing dynamics of computing for the developers of tablets, notebooks, and laptops. Moreover, there has been a rise in emphasis on saving the time of consumers by speeding up data transfer. Owing to this, the demand for NVMe over fiber channel in the Europe market is anticipated to rise significantly in the coming years.
What is Driving Demand for NVMe over Fiber Channels and Services in China?
According to the Future Market Insights analysis, the market for NVMe over Fiber Channel in China is likely to grow at a CAGR of 25.3% from 2021 and 2031, with a market value of around US$ 2,211.7 Mn in 2021.
China, Japan and South Korea are offering growth opportunities for NVMe over fiber channels owing to the rising number of internet users coupled with growing popularity of digitization across East Asia.
In the wake of this pandemic, there has been an increase in demand for digitization to run businesses across the globe. Growing need for prompt communication for efficient functioning of businesses has resulted in generation of huge volumes of data which is further responsible for driving the growth of NVMe over fiber channel deployment.
Moreover, the companies operating across China are focused on implementing advanced digital technologies and products in order to cope up with rising data generation and reducing latencies, in order to improve the business efficiency.
How are NVMe over Fiber Channel Sales Faring across India?
The market in India is anticipated to witness growth in revenue from around US$ 882.3 Mn in 2020 to US$ 12.81 Bn by 2031. The demand for NVMe over fiber channel has increased rapidly across various industry verticals in major economies of South Asia and Pacific including India, Singapore, Malaysia, Indonesia, and Australia and New Zealand, which has created growth opportunities for the market.
Moreover, in India, there has been a significant growth in the adoption of NVMe over fiber channel in the fields of IT & telecom, BFSI, and healthcare, among other industries. The growth can be attributed to the increasing number of internet users due to the rise in digitalization in the region.
The demand for NVMe over fiber channel is projected to exponentially grow as small and large enterprises seek efficient storage and processing of data. Furthermore, rapid growth in the enterprises end-user segment is further expected to drive the market.
What is the Market Share of NVMe SSD over Fiber Channel?
On the basis of product, the market is segmented into NVMe all-flash storage arrays, NVMe switch adapters, NVMe SSD, and others. Out of which, the NVMe all-flash storage arrays segment is anticipated to grow at the highest CAGR of 25.9% over the forecast period. This widespread adoption is mainly due to the advantages provided by NVMe all-flash storage arrays.
However, NVMe SSDs are anticipated to hold the largest share of the market and were presented into the market as a storage device that provides reduced latency and faster read/write operations as compared to the HDDs. NVMe is an interface that was designed specifically for SSDs, and NVMe SSDs were introduced to provide better data storage and processing operations, and the lowest latency possible when compared with HDDs and traditional SSDs
NVME over fiber channel has registered 58% higher IOPS speed and 34% lower latency, which clearly states the advantages of the NVME over fiber channel application. The NVMe SSD also provides improvement in CPU performance, faster data movement, and increased operational efficiency of the complete system. These benefits of solid-state drives are providing more traction to the segment in the market.
What is Pushing Demand across Large Enterprises?
In terms of enterprise size, the market is segmented into small and medium enterprises (SMEs) and large enterprises. The large enterprises segment is expected to hold the largest share of the market accounting for a US$ 15,429.3 Mn in 2020, while growing at a considerable CAGR of 23% between 2021 and 2031.
The growth of the segment can be primarily attributed to the growing demand for efficient data processing solutions from enterprises, data center vendors, and telecom service providers. However, small and medium enterprises segment is expected to grow at the highest CAGR of 24.9% over the forecast period.
Why is the Demand for NVMe over Fiber Channel Rising across Enterprises?
In terms of end user, the market is segmented as data centers vendors, networking vendors, telecom service providers, government, enterprises, and others. With the growing popularity of internet and automation across all industries, there has been rise in demand for NVMe over fiber channel in data centers and enterprises.
The data center vendor’s end user segment is dominating the global NVMe over fiber channel and it is estimated to account for 37.4% of the total market value share by the end of 2021. With the growing popularity of high speed data transfer and increasing implementation of advanced technologies across the globe, there has been a simultaneous rise in demand for NVMe over fiber channel as well.
Companies offering NVMe over fiber channel are aiming at innovation and strategic partnerships with other software vendors in order to expand their portfolios while addressing the demand of an expanding customer pool.
Introduction of new solutions and services and strategic partnerships are key strategies adopted by the top players in the NVMe over fiber channel landscape. Solid investments are being made in research and development segment by the global players in the market which is expected to provide substantial market developments.
- For instance, in 2020, Intel Corporation has invested 13.6 Bn on the research and development initiatives accounting for 17.4% of the total revenue. The research and development investments are focused on process technology, PC and data-centric businesses, and advancements in 5G technology.
The inclination of established players in the market happens to be towards the development of advanced memory technologies to fulfill specific requirements of the customers, cultivating the demand for innovative and advanced products in the market.
- In February 2018, Intel Corporation announced the launch of Intel SSD DC P4510 Series and P4511 Series for data center applications.
- In March 2018, Intel Corporation announced the launch of Intel Optane SSD 800P, which is available in the M.2 22890 form factor with NVMe PCIe 3.0 interface.
NVMe over fiber channel providers are also focusing on entering into partnerships with technology and digital solution providers to target new innovations within the market. The strategy helps companies to broaden their geographic reach with additional service portfolios.
Scope of Report
Historical Data Available for
USD Million for Value
Key Countries Covered
US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Singapore, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, North Africa, and South Africa
Key Segments Covered
Product, Enterprise Size, End-user, and Region
Key Companies Profiled
Market Forecasts, Vendor Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Key Questions Answered in the Report
What is the global market size of NVMe over Fiber Channel?
The overall market for NVMe over fiber channel is expected to surpass US$ 30.36 Bn in 2021.
At what rate did the demand for NVMe over Fiber Channel grow in the last five years?
Demand for NVMe over fiber channel has increased at 20.8% CAGR between 2016 and 2020.
What are the key market trends shaping the demand for NVMe over Fiber Channel?
Market players are focusing on the introduction of technological advancements and offering efficient NVMe over fiber channel products to help enterprises improve their productivity and reduce latencies involved in the data processing and storage transactions.
Which countries are key producers of NVMe over Fiber Channel?
According to the Future Market Insights analysis, the U.S., the U.K., China, Japan, and South Korea are the key countries offering NVMe over fiber channel.
What is the global NVMe over Fiber Channel market growth outlook between 2020 and 2021?
The global market growth is projected at 23.7% between 2020 and 2021.
What is the North America growth outlook for NVMe over Fiber Channel adoption?
North America is dominating the global market for NVMe over fiber channel and will account for estimated 30% of the global market in 2021 with a 22.1% CAGR.
Who are the top NVMe over Fiber Channel providers and what is their market share?
Intel Corporation, Samsung Electronics Co., Ltd., Western Digital Corporation, Dell EMC, Hewlett Packard Enterprise, and IBM, are the top NVMe over fiber channel vendors. They are likely to account for over 60% of the global market.
At what rate will the demand for NVMe over Fiber Channel rise in the Europe market?
The Europe market for NVMe over Fiber Channel is expected to rise at a CAGR of 24.3% between 2021 and 2031.
Which are the top five countries driving NVMe over Fiber Channel demand?
Leading countries driving demand for the NVMe over Fiber Channel are U.S., Canada, UK, China, and Japan.
What are the key statistics for NVMe over Fiber Channel in Japan and South Korea?
The demand for NVMe over Fiber Channel in Japan and South Korea is expected to rise at 26.8% CAGR and 23.3% CAGR, accounting for 33.5% and 25.2% value share in 2021 respectively, in East Asia region.
Market Segmentation by Category
- NVMe All-Flash Storage Arrays
- NVMe Switch Adapters
- NVMe SSD
- Small & Medium Enterprises (SMEs)
- Large Enterprises
- Data Centers Vendors
- Networking Vendors
- Telecom Service Providers
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)