The global hyper-converged systems market is currently valued at around US$ 9.83 Bn, and is anticipated to surge at a CAGR of 27.1% to reach US$ 66.8 Bn by 2030.
COVID-19 Pandemic Impact Analysis
The rapid spread of COVID-19 has disrupted the world’s economy. IT service companies have also witnessed a significant slowdown in growth during this financial year. However, the demand for hyper-converged systems is on the rise, as organizations are adopting remote working and work from home during the COVID-19 pandemic. Organizations have started investing more in converged and hyper-converged systems, as these systems allow employees to work remotely with the inbuilt virtual desktop infrastructure (VDI) feature.
In terms of value, the hyper-converged systems market in South Asia & Pacific is estimated to record the highest growth during the forecast period. Increasing lockdown periods due to the pandemic in APAC countries are estimated to motivate IT companies to procure hyper-converged systems during the forecast period.
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“With business organizations expanding their business capabilities on an exponential basis, the need for big data consolidation and protection is the need of the hour. Market vendors are investing a significant portion of their revenue in developing robust hyper-converged systems to help business entities realize this objective,” says a leading analyst at FMI.
Hyper Converged Systems Market- Key Takeaways
- Hyper-converged infrastructure appliances remains the most preferred component, followed by server virtualization software;
- Increasing business volumes and critical data management boosts applications of hyper convergence systems in large and small and medium sized enterprises;
- Banking, Financial Services and Insurance (BFSI) acquires an edge over other industries; manufacturing gathers increased momentum;
- North America exhibits tremendous growth potential, attributed to the presence of prominent market players, South Asia & Pacific are set to emerge as the most lucrative markets in the coming years due to favorable business climate.
- The hyper converged systems market shall represent a US$ 50 Bn opportunity by the end of 2030.
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Hyper Converged Systems Market- Key Driving Factors
- Use of software-grade convergence systems to minimize data assimilation complexities and augment operational efficiencies provides fuel to the hyper converged systems market;
- The ever-impending risk of data loss due to unforeseen circumstances such as component failure, dearth of internet connectivity or destruction of equipment due to natural disasters drives adoption of hyper converged systems.
Hyper Converged Systems Market- Key Restraints
- High demand inelasticity generated due to high costs of procuring additional resources shall impede market growth;
Anticipated Impact of the Coronavirus Outbreak
The ongoing novel coronavirus disease pandemic has generated favorable trends for the hyper converged systems market. As physical interaction is being increasingly refrained from, attributed to mandatory social distancing guidelines, business entities have shifted to digital platforms to maintain operational continuity. Countries worldwide require employees engaged in non-essential services to work remotely for an indefinite time period. As a result, companies have invested in various hyper-converged systems allowing professionals to operate distantly with in-built virtual desktop infrastructure (VDI) features.
Vendors are making available some of their software and hardware technology for free to assist businesses, researchers and work from home users to enable unhindered business operations. For instance, Acronis has made its Cyber Files Cloud file technology free until the end of July making it possible for clients across the world to work with their content without constraints. Likewise, Arcserve, Eden Prairie is assisting businesses by providing direct-to-cloud backup and disaster recovery freely for an unspecified time period.
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Competitive Landscape
The hyper converged systems market is characterized by the presence of a multitude of players, which include but are not limited to Dell EMC, Hewlett Packard, VMware Inc., Pfizer Inc., Acronis, Arcserve Eden Prairie and Fujitsu Ltd. to name a few. Heavy investments in R&D to explore potential growth avenues and investments in product marketing strategies have provided a wide platform for these players to grab a foothold. Important partnerships such as Pfizer with Oracle for creating a cloud based repository titled Clinical Cloud to store clinical data are also characteristics of a successful hyper converged systems market.
More Valuable Insights on Hyper-Converged Systems Market
Future Market Insights offers an unbiased analysis of the global hyper-converged systems market, providing historical data of 2015-2021 and forecast statistics for the years 2022-2030. To understand the various opportunities present in the hyper-converged systems market, the market study has been segmented on the basis of component, enterprise size, application, and industry, across six major regions.
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