Press release
Converged Infrastructure Solutions and Services Market: Increasing Use of Cloud Platforms Implies Greater Demand
As stated in a recent publication by Transparency Market Research, the global market for converged infrastructure solutions and services holds a highly competitive scenario as player vie for a greater market share amid a constantly evolving scope of utility in various end-user industries.
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The top tier players in the converged infrastructure solutions and services market are currently focusing heavily on market consolidation through mergers and acquisitions. This also helps them maintain and/or raise the level of competition among other top tier companies.
The global market for converged infrastructure solutions and services is projected at a whopping CAGR of 28.9% within a forecast period from 2015 to 2022. The market has been relatively small till now and is expected to reach US$11.78 bn in value by the end of 2016. By the end of 2022, this market value is expected to reach US$50.56 bn.
North America to Remain in Lead in Demand for Converged Infrastructure Solutions and Services
North America has dominated the usage rate of converged infrastructure solutions and services so far and is expected to continue doing so till 2022, at which point this region’s market is expected to reach US$20.98 bn. The North American dominance over converged infrastructure solutions and services is attributed to the fast adoption rates of cloud platforms and a high rate of virtualization of assets.
The future of the converged infrastructure solutions and services can be expected to be derived from Asia Pacific, a region whose demand for these solutions and services is projected at a CAGR of 32.9% from 2015 to 2022.
All key regions concerned with converged infrastructure solutions and services are expected to generate a lot of this demand from the IT and telecom sectors. As a collective end-user, IT and telecom are expected to generate US$16.63 bn for converged infrastructure solutions and services by 2022.
Great Bandwidth Usage to Boost Demand for Converged Infrastructure Solutions and Services
“The incoming wave of high-level cloud-based applications is an implication towards the growing need for better bandwidth across the world. Cloud platforms are expected to offer services such as multi-point access, high level privacy, and easy mobility of data. Various companies are beginning to realize the many advantages of implementing cloud solutions and have this begun migrating their financial system data to cloud servers. All in all, this massive demand for greater bandwidth will certainly propel the demand for converged infrastructure solutions and services proportionately,” states a TMR analyst.
At the same time, converged infrastructure solutions and services offer unique advantages such as the simplification of IT infrastructure, cost reduction in operations, and the minimization of risks. These advantages are expected to create a high level of appeal for infrastructure convergence services over the coming years.
Global Economic Volatility Hampers Implementation Rate of Converged Infrastructure Solutions and Services
As with a lot of IT solutions and services, converged infrastructure is also subject to the impact of a constantly changing global economy. The application of converged infrastructure solutions and services in multiple industries implies a highly dynamic demand for it, and a large aspect to consider in this context is budgetary restrictions.
Although the global economy is on a path of recovery, there are several companies that are applying budget restrictions to curb overspending of assets. This could prevent the growth in usage of converged infrastructure solutions and services.
“The future lies in the implementation of hyperconverged infrastructure solutions. These allow a greater scale of modernization of data centers and further improve the simplicity in IT wherever needed,” states the analyst.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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