Press release
Converged Infrastructure Market - Need to Cut Down IT Costs to Fuel Implementation
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According to TMR, the global converged infrastructure market will be worth US$76.26 bn by the end of 2025. It is anticipated that between 2017 and 2025 this Market will exhibit a cagr of 22.4%. on the basis of geography it is anticipated that by 2025 North America will account for 39.5% of the total Market. On the basis of end-users, the Telecommunications and IT sector will lead and exhibit a 34.2% of the total market.
Single Point of Storage Behind Demand for Converged Infrastructure
Growing investments by companies and organizations for the upgrading of the IT infrastructure will boost the growth of the converged infrastructure market. The demand for converged infrastructure is improving as it includes virtualization, networking, servers, storage as well as other resources which are managed holistically. The single point of storage will be a key reason for the demand of these systems. Organizations are increasingly opting for solutions which offers scalability, security, simplicity, and agility and this will positively influence the demand for converged infrastructure. It is anticipated that small and mid-sized organizations will develop an interest in adopting converged solutions in order to cut down IT operational cost.
Growing Demand for Cloud-based Data Centres Aiding Growth of Market
The growing demand cloud-based data centres on account of companies moving their financial systems to cloud, will push the growth of the global converged infrastructure market. Cloud-based data centres are also in demand on account of their operational features and its architecture which eliminates the need for convention data centres. The increasing need for the secure and safe IT infrastructure so as to prevent any risk of cyber-attacks is another important reason behind the demand for converged infrastructure.
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Decline in IT Budget within Organizations to Have Negative Impact on Converged Infrastructure Market
There are several factors that are expected to challenge the growth of the global converged infrastructure market. The drastic decline in the IT budget among companies and organizations worldwide will negatively impact the growth of the global converged infrastructure market. The reduction in the IT budget has led to consumers postponing new developments in condensing the scope of IT projects leading to major cost saving options, which is preventing the update of new solutions. This is negatively impacting the converged infrastructure market. The high cost of converged infrastructure upfront will also negatively impact the adoption rate.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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