Hyperconverged Integrated System Market: Overview of Key Market Forces Propelling and Restraining Market Growth
Albany, NY -- (SBWire) -- 12/12/2018 --Key players in the global hyperconverged integrated systems market include Nutanix, Pivot3, Hewlett Packard Enterprise, Scale Computing, VMware, Inc., Simplivity Corporation, Cisco Systems, Inc., Oracle Corporation, NetApp Inc., Fujitsu Limited, and Huawei Technologies Co., Ltd. The global hyperconverged integrated system market is highly fragmented due to the rapid rise of the sector and is likely to witness steady entry of numerous new players in the near future. The competition in the market is thus likely to escalate steadily over the coming years.
According to Transparency Market Research (TMR), the global hyperconverged integrated system market is likely to rise to a valuation of close to US$31 bn by 2025. The market was valued at US$1.5 bn in 2016 and is expected to exhibit a robust 37.3% CAGR between 2017 and 2025.
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The global hyperconverged integrated system market is divided by application into the healthcare sector, the government sector, education, entertainment and gaming, BFSI, hospitality, and cloud service providers. The healthcare sector's contribution to the hyperconverged integrated system market is likely to exhibit a rapid 41.7% CAGR between 2017 and 2025, due primarily to the growing adoption of digital information storage mechanisms in the healthcare sector in developed countries. Growing use of smartphone-based technology for patient interaction is likely to be a key driver for the global hyperconverged integrated system market in the coming years.
Regionally, North America is the leading contributor to the global hyperconverged integrated system market. The regional market accounted for US$1.3 bn in 2017 and is likely to rise to more than US$13 bn over the 2017-2025 forecast period. However, Europe and Asia Pacific are both likely to outpace the North America market for hyperconverged integrated systems, with the Europe market expected to exhibit a robust 43.8% CAGR in the given period and the Asia Pacific hyperconverged integrated system market expected to exhibit 42.9%.
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One of the key drivers for the global hyperconverged integrated system market, particularly in developing regions, is the rising support provided by government agencies for the use of digitized data storage and monitoring mechanisms. Realizing the importance of digital information storage technology for steady economic growth, countries such as India, China, Brazil, and Argentina have lent generous support to the use of digitization in various sectors. This is likely to remain a consistent driver for the hyperconverged integrated system market in the coming years due to the steady pace of urbanization exhibited in these countries.
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