Converged Infrastructure Market is expected to surge at a CAGR of 22.4% between 2017 and 2025,The end users in the global converged infrastructure market are industries such as BFSI, telecommunication and IT, manufacturing, healthcare and others.
Albany, NY -- (SBWIRE) -- 10/05/2017 -- Global Converged Infrastructure Market: Snapshot
Across the globe, rising demand of lowering of costs, IT simplification, business acceleration and risk minimization among others are the important aspects driving the development of the global converged infrastructure market. This converged infrastructure is a common platform where all the components of data center including storage, servers, networking, software and services are present. In addition, the converged infrastructure solutions are undergoing a significant demand in the market in order to meet the need for cloud, mobility as well as big data by various enterprises. Owing to these factors the global converged infrastructure market is expected to surge at a CAGR of 22.4% between 2017 and 2025. With this rate of progress the market is anticipated to be worth US$76.26 bn by the end of 2025 from US$11.78 bn in 2016.
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Healthcare and Telecommunication and IT Promise to Lead Global Converge red Infrastructure Market
The end users in the global converged infrastructure market are industries such as BFSI, telecommunication and IT, manufacturing, healthcare and others. Of these, the telecommunication and IT held the largest market share in 2016, followed by the manufacturing segment. The report anticipates that the telecommunications and IT segment will account for a share of 34.2% in the global market by the end of 2025. Telecommunication and IT segment transfers an enormous quantity of data and needs high storage volume which further rises the requirement of converged infrastructure systems in their systems. This industry has been facing transformation from recent years with more demand for sophisticated and customized storage services.
Furthermore, the healthcare industry is also anticipated to exhibit a stunning growth rate in the global converged infrastructure market. Thus, it has been identified as the prime sector in triggering the growth prospect of converged infrastructure market globally. This growth will be supported by the penetration of automated products and electronics in healthcare industry, which need proper IT infrastructure for linear operation of healthcare industry. Additionally, ease of operation and minimum operating cost of maintenance are the primary factors behind this segment's huge demand. On the flip side, increase in price based competition is expected to negatively influence the growth of global converged infrastructure market.
Asia Pacific Emerges as Key Regional Market due to Changing IT Infrastructure in Developing Economies
Geographically, the converged infrastructure market has been segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. In 2016, North America held the most dominant marketshare in terms of revenue and is anticipated to maintain its leading position during the forecast period from 2017- 2025, followed by Asia Pacific. During the forecast period, Asia Pacific would be a major region driving the demand for converged infrastructure for various end use industry which includes manufacturing, telecommunication and IT and manufacturing among others.
As converged infrastructure market is experiencing considerable progression from last few years, the number of vendors providing these solutions and services have also grown. China, Japan and South Korea is leading the market for telecommunication and IT, followed by Thailand, Indonesia and India across Asia Pacific. This regional market is slated to surge at a CAGR of 23.8% over the forecast years.
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Some of the major players operating in the converged infrastructure market are Nutanix, Inc., Hitachi Data Systems, Oracle Corporation, IBM Corporation, Hewlett-Packard Enterprise, Cisco System, Inc., VMware Inc., Dell EMC., Scale Computing, and NetApp, Inc. among others.