USD 5941.3 million
Report ID:
SQMIG45C2066 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
153 |
Figures:
78
Hyper Converged Infrastructure Market size was valued at USD 5941.3 million in 2019 and is poised to grow from USD 6721.7 million in 2023 to USD 14520 million by 2031, growing at a CAGR of 13.2% in the forecast period (2024-2031).
Hyper-convergence Infrastructure has recently acquired interest among organisations owing to its ability to speed the deployment of new workloads, simplify infrastructure administration, and minimise infrastructure costs. During the projection period, this has aided the expansion of the hyper-converged infrastructure market. HCI architecture is built for a pay-as-you-go pricing strategy and the capacity to scale gradually, which has aided industry growth. Because it provides integrated stack systems, integrated infrastructure systems, and integrated reference designs, business-critical applications that are now deployed on three-tier IT infrastructure will migrate to hyper converged infrastructure.
The growing desire for upgrading data centres using HCI systems to drive corporate growth benefits the Hyper Converged Infrastructure industry. It is a software-defined infrastructure approach that is used for data centre consolidations to save money and improve operational efficiencies. Increasing desktop virtualization adoption as a result of increased work-from-home scenarios during the COVID-19 pandemic might boost market expansion. In addition, increased demand for data security and disaster recovery in the IT and telecommunications sectors has fueled market expansion. Several end-user firms have embraced these HCI software solutions to reach their distant employees. According to the 2020 Environmental, Social, and Governance (ESG) Research Global Survey, roughly 87% of IT managers have implemented HCI solutions to make their organisations more agile. Microsoft Corporation announced Azure Stack HCI, a hybrid cloud-focused solution, in India in February 2021. With the release of this enhanced solution, users will be able to effortlessly adopt a multi-cloud, multi-edge hybrid strategy.
US Hyper Converged Infrastructure Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 5941.3 million
Largest Segment
Solutions
Fastest Growth
Solutions
Growth Rate
13.2% CAGR
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Global Hyper Converged Infrastructure Market is segmented based on the Component, Application, Organization Site, End-User, Enterprise, and region. Based on Component, the Hyper Converged Infrastructure Market is segmented Solutions and Services. Based Application, the Hyper Converged Infrastructure Market is segmented into Remote Office/Branch Office, Virtual Desktop Infrastructure, Data Center Consolidation, Data Protection and Disaster Recovery, and Others (Server Virtualizations, Cloud Management). Based on Organization Site, the Hyper Converged Infrastructure Market is categorized into Large enterprises, Small and Medium-Sized Enterprises. Based on End-User, the Hyper Converged Infrastructure Market is segmented into Cloud providers, Colocation Providers, and Enterprises. Based on Enterprise, the market is segmented into Banking, Financial Services and Insurance (BFSI), IT and Telecom, Manufacturing, Government, Healthcare, and Others (Education). By region, the Hyper Converged Infrastructure Market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Hyper Converged Infrastructure Market Analysis by Application
The virtual desktop infrastructure sector is predicted to have a substantial Global Hyper Converged Infrastructure Market share over the forecast period. This is partly due to growing trends such as Bring Your Own Device (BYOD) and a rise in remote work from home. According to a Cisco Systems report, 59% of US IT professionals employed BYOD during the COVID-19 outbreak. Virtual desk infrastructure refers to the centralised system used to manage the devices of remote employees.
The utilization of remote office/branch office, virtual desktop infrastructure, data centre consolidation, data security, disaster recovery, and other related services is also expanding. Because of the increasing number of data breaches, the data protection and disaster recovery applications category is expected to grow at the fastest CAGR throughout the forecast timeframe. Data breaches damaged an estimated 98.2 million individuals in the United States in the first quarter of 2021, according to the US Department of Health and Human Services. Data breaches are increasing the demand for data protection and disaster recovery software.
Hyper Converged Infrastructure Market Analysis by Component
The solutions sector is expected to have the biggest market share. This is partly due to the market's top manufacturers' increased development of small hardware systems. As an example, Dell Technologies will introduce managed storage, server, and Hyper Converged Infrastructure hardware solutions in May 2021. It can be used for data centre consolidation at the edge. It is used to store cloud services and streamline management.
During the projection period, the services category is predicted to develop at the fastest CAGR. This is mostly due to growing enterprises' digital transformations all around the world. According to a 2020 McKinsey & Company report, during the COVID-19 pandemic, worldwide digital technology use climbed from 36% to 58%. This would increase service adoption in forecast period.
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Global Hyper Converged Infrastructure Market is divided into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA).
North America dominated the global market. This is largely because industry titans like as Dell Technologies, Cisco Systems Inc., Hewlett Packard Enterprise Company, IBM Corporation, Microsoft Corporation, and others are present. Furthermore, rising investment in the establishment and modernization of data centre infrastructure in this sector contributes to market growth. The construction of data centre infrastructure across North America has supported market growth.
Throughout the forecast period, Asia Pacific is predicted to grow at the fastest CAGR. This is mostly due to increasing investment by significant regional companies. Microsoft Corporation, for example, intended to invest roughly USD 1 billion in Malaysia in April 2021 to establish a new data centre in collaboration with local enterprises and government agencies. Such data centre development initiatives are projected to provide a number of chances for industry growth.
During the projection period, Europe will increase at a steady CAGR. Rising digital transformation activities by industry leaders, together with increased expenditures in data centre construction, fuel market growth. For example, in November 2021, the European Commission introduced the Digital Europe Programme, which includes USD 2.24 billion in support for enterprise digital transformation. The Digital Europe Programme aims to increase digital technology adoption in Europe's public agencies and small and medium-sized businesses.
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Hyper Converged Infrastructure Market Driver
Rapid Digital Transformation to Drive Market Growth
Hyper Converged Infrastructure Market Restraint
Need for High Power to Hamper Market Growth
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Various businesses are focusing on organic growth strategies such as product launches, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. These activities have paved the way for market participants to expand their business and customer base. With rising global demand, market players in the hyper-converged infrastructure market are expected to benefit from lucrative growth opportunities in the future.
Hyper Converged Infrastructure Market Top Player's Company Profiles
Hyper Converged Infrastructure Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Hyper Converged Infrastructure market analysis, there is an increasing number of digital business transformation initiatives. Promotes market growth. Rising demand for data centre consolidation, along with an increase in digital transformations, drives growth. Market growth is hampered by compatibility issues and high power requirements. Compact hardware solutions advancement to strengthen market growth because of the 'work from home' and 'bring your own device' trends, virtual desktop infrastructure is expected to have a significant share. Increasing data protection demand in the banking industry to drive market growth. Product launch and expansion strategy will increase competition among key market players.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 5941.3 million |
Market size value in 2031 | USD 14520 million |
Growth Rate | 13.2% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Hyper Converged Infrastructure Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hyper Converged Infrastructure Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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REQUEST FREE CUSTOMIZATIONHyper Converged Infrastructure Market size was valued at USD 5941.3 million in 2019 and is poised to grow from USD 6721.7 million in 2023 to USD 14520 million by 2031, growing at a CAGR of 13.2% in the forecast period (2024-2031).
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Product ID: SQMIG45C2066