New York, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The global hyper-converged infrastructure market size is predicted to grow at a CAGR of over ~31.10% from 2023 to 2035. The market is projected to garner a revenue of USD 358.3 billion by the end of 2035, up from a revenue of ~USD 13.9 billion in the year 2022.This growth is set to be dominated by the rise in people working from home. For instance, as an indication of the increasing acceptance of remote work, about 11% of full-time workers are currently working from home. At the same time, a noteworthy close to 27% of workers have adjusted to a partially remote work arrangement. Consequently, the market demand for hyper-converged infrastructure is estimated to grow.
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While there are certainly many advantages to working remotely, there are drawbacks as well, including security concerns and managing IT facilities. For instance, in over 19% of organizations, security breaches have been triggered by remote workers. Hyperconvergence is capable of handling these challenges without impacting operating expenses, leading to a safe infrastructure that can enable the operation of dispersed applications. All applications within the infrastructure can access a single virtual pool comprising networking, storage, and processing resources thanks to the hyperconvergent architecture.
Rising Use of Internet to Boost the Growth of Global Hyper-Converged Infrastructure Market
Approximately 4 billion people used the internet globally as of October 2023, totaling up close to 64% of the world's population. Over the course of a little under a generation, the Internet has evolved from a cutting-edge tool to one that is revolutionizing communication and engagement between individuals, organizations, and governments. However, with the surge in the adoption of internet the risk of cyber-attack is also growing. Hence, the market revenue is predicted to grow.
Hyper-Converged Infrastructure Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Investment in AI to Drive the Market Expansion in North America
The hyper-converged infrastructure market in North America is predicted to gather the largest market revenue by the end of 2035. This growth is poised to be dominated by growing investment in AI. Companies in the United States expect to make investments over 66% more in generative AI in 2024 to boost productivity, experience, and growth. This is because, hyper-converged infrastructure may promote multi-cloud setups, expedite edge computing, and serve as a catalyst for the gathering of data needed for cloud-based artificial intelligence applications.
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Surge in Adoption of Smartphones to Influence the Market Growth in Europe
The market in Europe for hyper-converged infrastructure is also expected to have notable growth over the coming years. The main element to encourage the market expansion is the surge in the adoption of smartphones. There were approximately 458 million smartphone subscriptions in Western Europe as of the moment. At over 74 million, Germany leads all Western European countries in smartphone subscriptions.
Hyper-Converged Infrastructure, Segmentation by End-User
- Banking, Financial Services & Insurance (BFSI)
- IT & Telecom
- Manufacturing
- Government
- Healthcare
The banking, financial services & insurance (BFSI) segment is poised to gather the largest market revenue by the end of 2035. This growth is set to be influenced by rising risk of cyber attack on BFSI sector. As of December 2022, there had been over 565 breaches in the finance and insurance industries around the world, resulting in over 253 million records being exposed. Financial services were the target of close to 54% of ransomware attacks in 2022 and approximately 63% of them in 2023, almost twice as many as in 2021 (over 33%).
Hyper-Converged Infrastructure, Segmentation by Component
- Solutions
- Services
The services segment is predicted to have notable growth over the forecast period. This growth is set to be dominated by rising small and medium size organization. Global SME numbers for 2021 were projected to be around 331 million, an increase of slightly over the 327 million recorded in 2019.
Hyper-Converged Infrastructure, Segmentation by Application
- Remote Office/Branch Office
- Virtual Desktop Infrastructure
- Data Center Consolidation
- Data Protection & Disaster Recovery
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A few of the well-known indsutry leaders in the hyper-converged infrastructure market that are profiled by Research Nester are Dell Technologies, VMware Inc., Nutanix Inc., Cisco Systems Inc., Hewlett Packard Enterprise Company, StorMagic, Huawei Technologies Co., Ltd, IBM Corporation, Microsoft Corporation, Scale Computing, and others.
Recent Development in the Hyper-Converged Infrastructure Market
- Azure Stack HCI, a new hyper-converged infrastructure (HCI) solution that combines native Azure hybrid capabilities with the flexibility, scalability, and cost-performance advantages of hyper-converged infrastructure, was made publicly available by Microsoft Corporation in India. Businesses were expected to have easy access to Microsoft Azure for hybrid cloud scenarios spanning datacenters, remote offices, cloud, and edge locations with this Azure Stack portfolio component. It was expected that 15 partners will offer Azure Stack HCI solutions, backed by hardware that has been verified by Microsoft to ensure optimal performance and dependability. These strategies worked in virtual computers running Linux and Windows.
- The Smart World & Communication (SWC) business of L&T, a major Indian multinational engaged in EPC projects, hi-tech manufacturing, and services, and VMware Inc., a major global provider of multi-cloud services, announced their strategic partnership to accelerate the adoption of digital infrastructure solutions across industries through the establishment of a VMware Centre of Excellence.
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