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Composable Infrastructure Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Composable Infrastructure Market
According to The Business Research Company's, The composable infrastructure market size has grown exponentially in recent years. It will grow from $5.56 billion in 2023 to $8.23 billion in 2024 at a compound annual growth rate (CAGR) of 48.1%. The growth in the historic period can be attributed to growth of data center modernization, increased infrastructure flexibility, increased virtualization and cloud adoption, it cost optimization, and software-defined infrastructure.
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Market Drivers and Trends:
The growing demand for cloud services is expected to drive the growth of the composable infrastructure market forward. Cloud services refer to a broad range of on-demand computing resources and applications that are delivered over the internet. These services are hosted on remote servers, often in data centers, and can be accessed and utilized by individuals, businesses, and organizations through the internet. Cloud services are increasingly used in composable infrastructure to enhance flexibility, scalability, and overall operational efficiency and create a highly adaptable, efficient, and agile IT environment that can rapidly respond to changing business demands. For instance, in September 2022, according to reports shared by the AAG IT Support Service, a US-based digital transformation service provider, in 2022, a global study of 753 technical and business professionals revealed that 63% of respondents reported heavy usage of cloud services. This marked an increase from 59% in 2021 to 53% in 2020. Therefore, the growing demand for cloud services is expected to propel the growth of the composable infrastructure market.
Major companies operating in the composable infrastructure market are developing innovative technological solutions, such as the XClarity One cloud software program, to simplify the management and improve the performance of Lenovo infrastructure. XClarity One is a cloud-based platform that provides a unified view and management of Lenovo's ThinkSystem and ThinkAgile infrastructure, regardless of its location. For instance, in October 2022, Lenovo Group Limited, a China-based technology company, launched the XClarity One cloud software program, which combines Infrastructure as a Service (IaaS) and Smarter Support Analytics. It combines Infrastructure as a Service (IaaS), Management as a Service (MaaS), and Smarter Support Analytics to help customers simplify management, reduce costs, improve performance, and increase reliability.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Lenovo Group Limited; One Stop Systems Inc.; Dolphin Interconnect Solutions; Liqid Inc.; Inspur Group Co. Ltd.; Hewlett Packard Enterprise Company; NetApp Inc.; Dell Inc.; Nutanix Inc.; Juniper Networks Inc.; Western Digital Corporation; TidalScale Inc.; Quanta Cloud Technology LLC; Cloudistics Inc.; HGST Inc.; DriveScale Inc.; Quanta Cloud Technology; Cisco Systems Inc.; Fungible Inc.; Pure Storage Inc.; Super Micro Computer Inc.; Fujitsu Limited; NEC Corporation; Huawei Technologies Co. Ltd.; Hitachi Ltd.; International Business Machines Corporation; Oracle Corporation; Microsoft Corporation; Amazon Web Services Inc.; Google LLC
Composable Infrastructure Market 2024 Key Insights:
• The composable infrastructure market size is expected to see exponential growth in the next few years. It will grow to $37.87 billion in 2028 at a compound annual growth rate (CAGR) of 46.5%.
• The Role Of Cloud Services In Driving Composable Infrastructure Growth
• Innovation In Composable Infrastructure Management: Lenovo's Xclarity One Cloud Software Program
• North America was the largest region in the composable infrastructure market in 2023.
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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