Composable Infrastructure Market Including Growth Factors, Applications
Posted by Sakshi Mishra on April 22nd, 2021
The global composable infrastructure market is estimated to reach a market value of USD 5.80 billion by 2024. It is predicted to grow at a 58.10% CAGR during the forecast period. The approach by small, medium, and large organizations to downsize resources to improve overall efficiency can drive the market demand exponentially. The change in network architecture and a single API for the computing and storage of resources on the basis of applications can bode well for the market.
The availability of cloud and development of cloud-native applications which can be reconfigured according to the changing needs of enterprises can spur the market growth. Low complications and operational downtime can lead to integration of composable infrastructure across organizations. Seamless updates of software, lowered over provisioning and under utilization of resources, and rapid development of applications can bolster the market till 2024.
However, lack of skilled personnel, concerns over single vendor lock-in, and complications of compatibility with composable infrastructure with traditional infrastructure are challenges faced by the market.
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The market for global composable infrastructure is estimated by keeping under consideration the regions of North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America holds the largest market share owing to the presence of key market players such as Dell EMC, Hewlett Packard Enterprise Company, HGST Inc., and Cisco Systems Inc. investing in development of composable infrastructure for data centers driving the market growth. Growing demand for enterprise applications, adoption of new network architecture for reduction in operational expenses, and scaling of businesses can foster the market growth in this region.
Europe accounted for the second-largest market share owing to growing adoption of composable infrastructure in countries of Spain, the U.K., Germany, France, Italy, and other European countries. The data-centric nature of applications and need for control over hybrid network architecture while adhering to data governance laws is likely to drive the market demand over the forecast period. The adoption is dominated by IT and telecom sector and followed by the BFSI sector in the region.
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About the AuthorSakshi Mishra
Joined: September 30th, 2020
Articles Posted: 512
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