ALBANY, New York, June 11, 2019 /PRNewswire/ -- A report by Transparency Market Research (TMR) states that the global converged infrastructure market is dominated by a handful of large organizations. In order to stay on the top of the market, businesses are focusing on strategic collaborations, mergers, and acquisition as a part of their expansion strategy. Furthermore, the businesses are also persistently focusing on various research and development activities in order to gain a competitive edge over their competitors in the global converged infrastructure market. Since the global converged infrastructure market has a handful of players at present, it offers tremendous opportunities for the new players to establish themselves.
Some of the prominent players that influences the dynamics of the global converged infrastructure market are Hewlett-Packard, Dell EMC, VM Ware Inc., Hitachi Data Systems, Cisco Systems, and Nutanix Inc.
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According to the experts at TMR, the global converged infrastructure market is expected to exhibit an exceptional 22.4% CAGR in the forecast period of 2017 to 2025. The market is predicted to be worth around US$76.26 bn by the end of the projected tenure, says the experts at Transparency Market Research. It is noticeable that by the end of 2016, the global converged infrastructure market stood at US$11.78 bn. This means that the market has ample opportunities for the players who are willing to enter global converged infrastructure market.
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The healthcare and telecom segment under end-users parameter leads the global converged infrastructure market. The growth of these segment shall be attributed to the penetration of automated products in various application such as surgeries, and other healthcare operations. This encourages the need for optimal infrastructure for smooth operation. Secondly, the IT and Telecom sector dominates the global converged market on the basis of the huge amount of data transferring technologies arrived in the market. Finally, ease of operation and reduction of operational and maintenance cost in both sectors are yet another reason promoting the growth of healthcare and telecom segment to dominate the global converged market during the forecast period.
Looking at the technological advancements in various countries such as the U.S. and Canada, the leading region of the converged infrastructure market during the forecast period will be North America. The region shall be followed by Asia Pacific which is exhibiting the growth as a result of penetration of major companies into the IT and Telecom sector in countries like China and India.
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Need for Efficient Data Management to Boost the Growth of the Market
The migration of businesses from traditional self-owned as well as self-managed hardware models to a flexible services model is the prime reason that is driving the growth of global converged infrastructure market. The adoption of techniques such as the utilization of resources as per the requirement is another factor that is driving the growth of global converged infrastructure market during the forecast period. Also as a result of building hardware components to utilize as IT assets in the future is another growth supporting factor for the global converged infrastructure market from 2017 to 2025. Finally, the ease of development and deployment also helps the global converged market to grow substantially over the period of time.
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Costly Licensing Can Hamper the Market's Growth in the Forecast Period
Converging infrastructure structure on the basis of proprietorship can be quite costly for businesses. Lack of proper resources can also lead to major data loss for the businesses. Such factors may hamper the growth of global converged infrastructure in the forecast period. However, constant actions by manufacturers and other associated business to promote their products shall keep the momentum for the growth of the global converged infrastructure market going forward.
The benefits of converged infrastructure are making the business to remodel their data center strategies and move towards cloud-based services for storing their data shall also help the global converged infrastructure market to grow exponentially in the forecast period.
The study presented here is based on a report by Transparency Market Research (TMR), titled, "Converged Infrastructure Market (Components - Server, Storage, Networking, Software, and Services; Architecture Type - Pre-configured and Customized; End-use Industry - BFSI, Telecommunication and IT, Manufacturing, and Healthcare) - Global Industry Analysis Size Share Growth Trends and Forecast 2017 - 2025."
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