Global Hyper-Converged Infrastructure Market Report 2022-2027: Shifting Workload Towards Cloud, Data Center Consolidation, & Growing HCI Adoption Rate by Emerging Countries
DUBLIN, Aug. 17, 2022 /PRNewswire/ -- The 'Global Hyper-Converged Infrastructure Market: Analysis By Component, By Application, By End-User, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2027' report has been added to ResearchAndMarkets.com's offering.
The global hyper-converged infrastructure market in 2021 was valued at US$8.98 billion. The market is expected to reach US$38.58 billion by 2027. The market is expected to grow at a CAGR of 27.50% during the forecast period of 2022-2027.
Hyper-converged infrastructure (HCI) is referred to as an information technology that is a combination of various elements namely storage, computing, and networking which are virtualized to provide a single system for users and decrease the complexities related to the data center and upturn scalability. HCI is composed of virtualized computing (hypervisor), software-defined storage, and virtualized networking.
Due to the requirement for increased simplicity, agility, and hybrid deployments, businesses are abandoning traditional storage, server, and networking solutions in favor of hyper-converged infrastructure (HCI), which is changing the modern data center and technology updates.
Growth Drivers: One of the most important factors impacting the hyper-converged infrastructure market is the need for enhanced data protection and disaster recovery solutions. To reduce complexity in both hardware and virtualized settings, organizations are turning to HCI.
Furthermore, the market has been growing over the past few years, due to factors such as shifting workload towards the cloud, growing HCI adoption rate by emerging countries, optimistic organization behavior for HCI installation, data center consolidation, and increasing demand from the healthcare industry and SMEs, etc.
Challenges: However, the market has been confronted with some challenges specifically, limitations due to dual-socket servers, challenges of HCI implementation, etc.
Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as the shift to subscription-based contracts, benefits from HCI adoption, the transition towards a multi-cloud environment, and moving toward edge computing, HCI automation, etc.
The majority of the market-share leaders in multi-cloud deployments and hybrid cloud services are adoptng hyper-converged infrastructure. For instance, the Dell Technologies Cloud platform, which is based on VxRail, the leading hyper-converged technology in the industry, is Dell Technologies' most aggressive cloud investment in years.
Market Segmentation Analysis:
In 2021, Hardware held a major share of 69% in the market as organizations are increasingly turning to hyper-converged infrastructure to simplify complexity for both hardware and virtualized environments. On the other hand, the software segment is expected to grow at the highest CAGR in the forthcoming years.
The data center consolidation segment held the major of 25.4% in the market, Whereas, the backup recovery or disaster recovery is expected to grow at a significant rate owing to the rising number of data breaching cases.
The BFSI held the one-fourth share in the market. Hyper-converged systems tick all critical boxes in the banking, financial services, and insurance (BFSI) industry, such as reducing time in managing infrastructure, as well as ensuring scalability of infrastructure, availability of critical workloads, and disaster recovery (DR). In addition, these systems solve the issue of single-vendor networking infrastructure. Thus, the adoption of HCI in BFSI is expected to grow in the coming years.
North America held the major share of 38% in the market as the growing number of connected devices and video services are expected to broaden the reach of the hyper-converged industry in North America. Asia Pacific is expected to grow at the highest CAGR of 30.1% in the forthcoming years.
The rise in ICT infrastructure investments by government bodies and private companies has enhanced the need to modernize data center structures. Moreover, this is mainly owing to the increase in service requirements among the ever-increasing population base in various Asia Pacific countries. In Europe, Germany occupied the major share of approx. 23% in the market.
Impact Analysis of COVID-19 and Way Forward:
During the pandemic, the use of hyper-converged infrastructure increased since activities in the IT business were often carried out through a 'work from home' framework. As a result, hyper-converged infrastructure was in high demand in the IT industry all over the world.
Furthermore, due to the pandemic, the new hyper-converged infrastructure installation has been postponed. On the contrary, the advent of hyper-converged infrastructure as a viable alternative to public cloud computing would have a beneficial impact on the market and considerably contribute to its growth in the forthcoming years.
In 2021, Vmware Inc., announced the acquisition of Octarine Inc., in order to expand the company's security abilities for containers and kubernetes. The application running on Kubernets and would integrate security capabilities into the fabric of the present IT and DevOps environments.
The global hyper-converged infrastructure market is considerably dominated.
The key players of global hyper-converged infrastructure market are:
For more information about this report visit https://www.researchandmarkets.com/r/ojbc3d
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