Hyperconverged Integrated System Market Growing Government Support for Digitization
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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Healthcare Industry Likely to Attain Importance in Global Hyperconverged Integrated System Market
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.
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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%.
Growing Government Support for Digitization to Aid Hyperconverged Integrated System Market
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.
The rising complexity of data being generated due to the use of diverse electronic instruments such as gaming devices and smartphones has led to growing demand for data center consolidation services.
This is likely to remain a key driver for the global hyperconverged integrated system market in the coming years, as the growing urban demographic is likely to ensure consistent growth of the consumer electronics market and the booming telecommunications sector is likely to enable steady development of communication technology in order to make data sharing easier than ever.
The rising need for user demographic information in various industries is thus projected to entail a growing demand from the hyperconverged integrated systems market.
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TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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