NVME over fabrics.. I guess, the general idea being to run NVME over FC, RCoE, or infiniband.
Given the existing install-base of FC, I'm guessing as people upgrade to the 32/128Gbit adapters they will start to purchase disk's that can support FC-NVME as well. Which will bootstrap the market there.
Although it could go to infiniband as well, if people buy into the converged infiniband/ethernet adapter route.
To soon to tell, but a lot of it will be dependent on which technology does a better job avoiding the "forklift" upgrade problem that FCoE required.
Hyperconverged Infrastructure is definitely eating a lot of the traditional storage vendors lunches. Using Ubuntu with JuJu/Ceph/OpenStack all on the same servers provides plenty of power while reducing costs.
Even VMWare has come on board with vSAN which pushes out vendors like EMC/NetApp because you no longer need them when you can just create it against your existing hypervisors. Sure you can run one or two less VM's on it, but you have less cost overall.
iSCSI off-load that is available on a variety of network cards, along with network policies that are similar to FCoE (never drop a packet) allow you to get the same speed/reliability as FCoE for a lot less.
FCoE requires that the networking gear drops only one packet in 10 million or something like it, if you can make the same guarantees for iSCSI, it is for all intents and purposes the same thing. With iSCSI off-load it is even better.
iSCSI also runs across your existing network stack, and doesn't require purchasing special equipment and is better supporter across a variety of different vendors, thereby making it easier to find the gear with the features you need, rather than settling for something that supports FCoE.
What's the replacement then? ISCSI, or going back to FC? Or is everything cloud something these days? :)