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Hyper Converged Infrastructure Market Report 2024 - Trends & Opportunities
Hyper Converged Infrastructure Market Report
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According to The Business Research Company's, The hyper converged infrastructure market size has grown exponentially in recent years. It will grow from $14.16 billion in 2023 to $18.07 billion in 2024 at a compound annual growth rate (CAGR) of 27.7%. The growth in the historic period can be attributed to data center modernization, cost efficiency, simplified management, scalability requirements, streamlined deployment, increased workload demands, performance improvements, hyper-convergence awareness.
The hyper converged infrastructure market size is expected to see exponential growth in the next few years. It will grow to $49.43 billion in 2028 at a compound annual growth rate (CAGR) of 28.6%. The growth in the forecast period can be attributed to enhanced security features, data analytics requirements, green it initiatives, automation and orchestration trends, adoption in various industries, vendor ecosystem development. Major trends in the forecast period include enhanced disaster recovery and business continuity, composable infrastructure concepts, integrated networking solutions, containerization and kubernetes support, focus on hci security, software-defined storage innovations, partnerships and ecosystem expansion.
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Market Drivers and Trends:
An increase in cloud adoption is expected to propel the growth of the hyper converged infrastructure market going forward. The term 'cloud,' in the context of computing and technology, refers to a network of remote servers that are hosted on the internet to store, manage, and process data rather than on a local, personal computer or a local server. Hyper-converged infrastructure (HCI) plays a critical role in facilitating cloud adoption. HCI integrates computing, storage, networking, and virtualization resources into a single, unified platform, simplifying data center management and scalability. This technology enables organizations to build private clouds or connect seamlessly to public cloud services. By providing a robust foundation for cloud deployments, HCI accelerates the migration of workloads to the cloud, enhances resource allocation, and streamlines hybrid or multi-cloud management. For instance, in January 2023, Google, a US-based multinational technology company published an article that said 26% of people reported using multiple public clouds in 2022, which has increased from 21% in 2021. The use of Hybrid cloud also increased from 25% to 42.5% in 2022. Therefore, an increase in cloud adoption is driving the hyper converged infrastructure market.
Technological advancement is the key trend gaining popularity in the hyper-converged infrastructure market. Major companies operating in the hyper-converged infrastructure market are focused on developing technologically advanced products to strengthen their market position. For instance, in April 2021, Mavenir, a US-based software company, launched a AI-on-5G Hyper Converged Edge solution. It uses AI and 5G technology together for applications in various promising verticals such as manufacturing, mining, and healthcare that cover Industry 4.0 applications. The Edge AI solution offers industry vertical use-cases and helps enterprises benefit from the confluence of 5G and AI. 5G enables an architecture for the smart connected factories and farms, cities, and logistics operations in which wireless sensors, machinery, robots, and people can collaborate flexibly on the same system. Enterprises can also deploy private networks using this completely automated, dynamically scalable technology as a managed service. The computing power of AI and the security and low latency of 5G are poised to revolutionize entire industries and boost global productivity.
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Major Key Players of the Market:
Dell Technologies Inc., Nutanix Inc., Pivot3 Inc., Hewlett Packard Enterprise Co., Cisco Systems Inc., VMware Inc., Microsoft Corporation, NetApp Inc., Scale Computing Inc., StorMagic Ltd., Huawei Technologies Co. Ltd., HiveIO Inc., Super Micro Computer Inc., Hitachi Vantara Corporation, Diamanti Inc., Lenovo Group Limited, NEC Corporation, Riverbed Technology LLC, StarWind Software Inc., Fujitsu Ltd., DataCore Software UK Ltd., IBM Technology Corp., Sangfor Technologies Inc., Maxta Inc., Startoscale Ltd., Simplivity Ltd., Atlantis Computing Inc., Stratoscale Ltd., DataDirect Networks Inc., Red Hat Inc., Gridstore Ltd., Cloudistics Inc., Nyriad Ltd., Sunlight Inc.
Hyper Converged Infrastructure Market 2024 Key Insights:
• The hyper converged infrastructure market size is expected to see exponential growth in the next few years. It will grow to $49.43 billion in 2028 at a compound annual growth rate (CAGR) of 28.6%.
• Development Of It Infrastructure Is Driving The Hyper-Converged Infrastructure Growth
• The Role Of Technological Advancements In The Hyper-Converged Infrastructure Market
• North America was the largest region in the hyper converged infrastructure market in 2023
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