With a particular focus on Asia Pacific, the Non-volatile Memory Express (NVMe) Market is expected to experience significant growth. As per the report "Non-volatile Memory Express (NVMe) Market by Product, Deployment Location, Communication Standard, Vertical, and Region," it is projected that the NVMe market in Asia Pacific will witness a noteworthy growth, rising from USD 44.6 billion in 2019 to an approximate USD 163.5 billion by 2025. The strong Compound Annual Growth Rate (CAGR) of 29.7% from 2020 to 2025 is shown in this expected growth. Asia Pacific is a key hub for the adoption and development of non-volatile memory express technologies, which are essential to a wide range of products, deployment scenarios, and communication standards in a variety of vertical industries. This is demonstrated by the growth of the NVMe market in the area.

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The Non-volatile Memory Express (NVMe) Market in the Asia Pacific area is expanding significantly due to the significant performance improvements provided by NVMe technology. This rise is mostly being driven by the use of NVMe technology in vital components such as storage systems, SSDs, and servers. There are considerable market prospects for NVMe in the Asia Pacific region due to the adoption of end-to-end NVMe over fabrics (NVMe-OF) and the growing use of NVMe in emerging technologies including big data, blockchain, Internet of Things (IoT), and artificial intelligence (AI). This pattern demonstrates the area's dedication to adopting cutting-edge technology and using NVMe to improve the performance and capabilities of numerous applications in a range of industries.

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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

Over the course of the forecast period, the Asia Pacific NVMe market is expected to witness a strong Compound Annual Growth Rate (CAGR) from the all-flash arrays sector. The rising adoption of all-flash arrays in regional data centres and businesses is responsible for this growth. NVMe-based all-flash arrays use Linux kernel, Windows, and vSphere drivers to use flash memory and offer improved connectivity. Notable benefits from these arrays include lower latency, increased input/output operations per second (IOPS), and faster read/write operations. All-flash arrays are an appealing option for organisations since they require less maintenance, produce less heat, and use less power because they don't have any moving parts.

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

The Asia Pacific NVMe market's healthcare vertical is expected to increase at a large rate over the course of the forecast period, with a high Compound Annual Growth Rate (CAGR). Technological developments in advanced medical research, healthcare robotics, and telemedicine are driving this rise. Many healthcare organisations in Asia Pacific are improving their data management and storage capacities, especially for analytical uses. Enough data storage makes it easier to record, analyse, and track patient medical records effectively. The use of NVMe-based products and storage solutions with superior data storage capabilities is being driven by the advent of innovative healthcare solutions, such as integrated software, video conferencing, and collaborative applications through mobile devices.

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

It is projected that Japan will have a significant portion of the Asia Pacific non-volatile memory express (NVMe) market over the projection period. The primary cause of this expansion has been the noteworthy uptake of cloud services by Japan's Small and Medium-sized Enterprises (SMEs), which has added significantly to the nation's strong cloud infrastructure. Although Japan is a well-established market for cloud services, there is still a lot of room for growth for providers. The need for NVMe to address high-performance computing requirements is being driven by the spike in demand for cloud services, particularly in the context of cloud services. Furthermore, encouraging government programmes and financial initiatives assist the expansion of the NVMe market in Japan. For example, in September 2022, Micron Technology, Inc. (US), a well-known chipmaker, received a sizeable subsidy of USD 320 million from the Japanese government to support its ambition to produce sophisticated memory chipsets at the Hiroshima factory in Japan. The region's NVMe industry is expected to grow at a faster rate thanks to the proactive backing from the government.

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 up to 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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