According to Future Market Insights (FMI), the global NVMe over fiber channel market is predicted to grow at a CAGR of 23.7 percent over the forecast period (2021-2031). The increase is due to increased demand for cutting-edge data handling and capacity arrangements, with market valuations expected to surpass US$ 30.36 billion by 2021.
Aside from that, the market is fueled by the explosive growth of the information age across industries, as well as the expanding number of web users. The growing popularity of NVMe technologies for servers, SSDs, and capacity devices, as well as the substantial performance improvements provided by NVMe over fiber channel, are driving market expansion in the NVMe over fiber channel industry.
The Impact of COVID-19 on the NVMe over Fiber Channel Market
The COVID-19 outbreak has inflicted havoc on a variety of industries, including the NVMe over fiber network industry and government institutions. As a result of mobility and travel restrictions for general health concerns, as well as other social removal measures, various sector verticals have experienced large losses. Interruptions in administrations have an impact on economies and exchange because of their role in producing inputs, connecting supply chains, and working with exchange. The amount of the exchange effect varies according to the mode of supply and geographic location.
Who will emerge victorious?
Players in the barely established NVMe over fiber channel market are increasingly focusing on the creation of new item contributions while also completing essential topographical development efforts. Furthermore, the NVMe over fiber channel market is expected to increase in response to rising need for cutting-edge information storage and handling foundations, as well as expanding digitalization apparatuses.
In the NVMe over fiber channel business, significant rivals include Intel Corporation, Samsung Electronics Co., Ltd., Western Digital Corporation, Dell EMC, Hewlett Packard Enterprise, IBM, Cisco Systems Inc., Microchip Technology Inc., Broadcom Inc., and Marvell Technology Group.