The global non-volatile dual in-line memory module market size is estimated to reach USD 11.2 billion by 2027, registering a CAGR of 39.7% from 2020 to 2027, according to a new study by Grand View Research, Inc. The significantly growing number of data centers across the globe is the key driving factor. NVDIMM is a persistence memory module. The demand for non-volatile dual in-line memory module (NVDIMM) in enterprise storage application to prevent data from losses in a service outage is anticipated to bode well for the market growth. Additionally, high demand to reduce latency in storage and servers for data processing is further expected to propel the market growth.
To sustain the highly competitive environment and to minimize the overall infrastructure costs, several businesses across the globe are migrating their operations over the cloud. This has increased the installation of data centers globally in order to suffice the need for storage of these companies’ data. In addition, NVDIMM plays an essential role in preserving these crucial data in the event of system or power failure in data centers. Therefore, the surging demand for cloud-computing across enterprises is anticipated to see a remarkable need for non-volatile dual In-line memory module over the forecast period.
Moreover, with the emergence of 5G technology, key network providers such as Huawei Technologies Co., Ltd., Ericsson, and Nokia Corporation, in partnership with telecom operators, are rapidly deploying 5G network infrastructures globally. Also, the deployment of high-speed 5G network has boosted the demand for edge computing solutions. This factor is anticipated to drive the demand for small data centers nearby customer premises. Thus, it is estimated to fuel the market growth from 2020 to 2027.
The rising need for high-performance computing with more extensive data storing capacity memory across several enterprises has stimulated the adoption of high-end workstations across the globe. Also, to increase the performance of high-end workstations by improving their latency and protect data from unexpected power loss, the demand for non-volatile dual in-line memory module is expected to showcase a remarkable growth.
The significant focus by key market players such as Intel Corporation and Netlist, Inc. on developing advanced memory modules, i.e., NVDIMM-P, is further anticipated to fuel the overall market growth. Currently, the ongoing pandemic of COVID-19 is majorly impacting the production and exports of NVDIMM products across the globe. Additionally, the escalating trade tension between China and U.S. is anticipated to impact the overall market growth from 2020 to 2027.
Further key findings from the report suggest:
- The NVDIMM-N segment accounted for the largest market size of USD 661.9 million in 2019, attributed to the increasing requirement of delivering enhanced processing speed with lower latency to prevent data during a power outage.
- North America attained the highest market share of 37.6% in 2019, attributed to the presence of a massive number of large hyper-scale data centers and key market players such as Micron Technology Inc.; AgigA Tech, Inc.; and Viking Technology Inc.
- Growing demand for NVDIMM to increase the server’s performance and to eliminate the data losses during an electricity outage helped the enterprise storage and server segment to attain a significant market share in 2019
- Key players such as Micron Technology Inc.; Viking Technology Inc.; and Smart Modular Technologies, Inc. are focused on developing new products with high capacity memory. This strategy helps these players to expand their overall product portfolios and increase their customer base