Non-Volatile Memory Express (NVMe) Market Report 2026

The non-volatile memory express (nvme) market size has grown exponentially in recent years. It will grow from $114.52 billion in 2025 to $147.75 billion in 2026 at a compound annual growth rate (CAGR) of 29%. The growth in the historic period can be attributed to initial adoption in enterprise storage, use in cloud services, reliance on conventional storage interfaces, early deployment in consumer systems, integration in data center solutions.

The non-volatile memory express (nvme) market size is expected to see exponential growth in the next few years. It will grow to $404.9 billion in 2030 at a compound annual growth rate (CAGR) of 28.7%. The growth in the forecast period can be attributed to expansion in hyperscale data centers, integration with AI and IoT workloads, growth in energy-efficient NVMe solutions, development of scalable storage architectures, adoption in high-performance computing and BFSI sectors. Major trends in the forecast period include adoption of high-performance nvme ssds, integration of nvme in all-flash arrays, development of nvme-enabled servers, expansion of nvme-based adapters, implementation of AI-optimized storage systems.

The non-volatile memory express (NVMe) market is anticipated to experience growth driven by the increased adoption of cloud-hosting services. Cloud hosting allows applications and websites to access cloud resources, offering a more distributed approach compared to traditional hosting on a single server. This shift towards cloud-hosting services is expected to generate heightened demand for NVMe, given its crucial role in enhancing the performance and interoperability of various enterprise-level services. For example, in May 2024, Gartner, Inc., a US-based consulting firm, reported that global end-user spending on public cloud services was projected to grow by 20.4%, reaching $675.4 billion in 2024, up from $561 billion in 2023. Therefore, the increasing adoption of cloud-hosting services is expected to boost demand for non-volatile memory express (NVMe) during the forecast period.

Companies operating in the non-volatile memory express (NVMe) market are focusing on computational storage, such as NVMe Computational Storage, to gain a competitive advantage. Computational storage refers to the integration of processing capabilities directly into storage devices so that data processing occurs within the storage media rather than being transferred to a separate host processor. For example, in January 2024, NVM Express, Inc., a U.S.-based industry standards organization, introduced the NVMe® Computational Storage feature, which includes a host-driven Computational Programs command set, a Subsystem Local Memory command set, and modular offloading of compute tasks to storage devices. This trend enables lower latency, higher throughput, and reduced data movement in enterprise, cloud, and edge applications, while also introducing greater firmware complexity and requiring stronger ecosystem interoperability.

In July 2025, Synopsys, Inc., a U.S.-based provider of electronic design automation (EDA) software, semiconductor IP, and system-verification solutions, acquired Ansys, Inc. for approximately $35 billion. Through this acquisition, Synopsys sought to strengthen its “silicon-to-systems” design platform by incorporating Ansys’ advanced simulation and multiphysics analysis capabilities, thereby expanding its technological reach and customer base across the semiconductor, automotive, aerospace, and industrial sectors. Ansys is a U.S.-based provider of engineering simulation and analysis software for electronics, structures, fluids, and thermal systems.

Major companies operating in the non-volatile memory express (nvme) market are Intel Corporation., Toshiba Corporation, Samsung Electronics Co. Ltd., Adesto Technologies Corporation, Viking Technology, Crossbar Inc., Kilopass Technology Inc., Sidense Corporation, Sandisk Corporation, Micron Technology Inc., Honeywell Corporation., STMicroelectronics NV, Avalanche Technology's, Cypress Semiconductor Corporation, Everspin Technologies Inc., Western Digital Technologies Inc., KIOXIA Holdings Corporation., SK hynix Inc., Microchip Technology Inc., ROHM Co. Ltd., Renesas Electronics Corporation, Infineon Technologies AG., Nantero Inc., Winbond Electronics Corporation., Pure Storage Inc.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are impacting the NVM Express market by increasing costs for imported NVMe controllers, SSDs, and associated electronic components. Data centers, cloud services, and enterprise storage providers in Asia-Pacific, North America, and Europe are most affected due to reliance on imported components. However, tariffs are promoting domestic manufacturing, regional sourcing, and innovations in NVMe technology, enhancing storage performance, reliability, and overall market resilience.

The non-volatile memory express (NVMe) market research report is one of a series of new reports that provides non-volatile memory express (NVMe) market statistics, including non-volatile memory express (NVMe) industry global market size, regional shares, competitors with a non-volatile memory express (NVMe) market share, detailed non-volatile memory express (NVMe) market segments, market trends and opportunities, and any further data you may need to thrive in the non-volatile memory express (NVMe) industry. This non-volatile memory express (NVMe) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Non-Volatile Memory Express (NVMe) refers to a scalable and high-performing controller interface with a streamlined command set, designed for efficient utilization of storage based on non-volatile memory in systems, enterprises, and data centers. NVMe is particularly geared towards meeting the performance demands of non-volatile memory storage in businesses, cloud services operations, and data centers.

The primary products associated with non-volatile memory express (NVMe) include solid-state drives (SSD), adapters, all-flash arrays, servers, and various other products. SSDs, or solid-state drives, function as a type of computer storage device that stores persistent data on solid-state flash memory, a non-volatile storage medium. SSDs replace traditional hard disc drives (HDDs) in computers while performing the same basic functions as a hard drive. Communication standards used in NVMe include ethernet, fiber channel, and infiniband. Non-volatile memory express products find applications across a wide range of industries, including banking, financial services, and insurance (BFSI), consumer goods and retail, telecommunications and information technology-enabled services (ITeS), healthcare, energy, government, education and research, media and entertainment, manufacturing, and other verticals.North America was the largest region in the non-volatile memory express (NVMe) market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the non-volatile memory express (nvme) market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the non-volatile memory express (nvme) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The non-volatile memory express market consists of revenues earned by entities by providing solutions and services for memory storage in an organization such as simple access control, data at rest protection, and purge-level erase to improve the performance of storage devices to accelerate the transfer speed of data between enterprise and client systems. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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