Global Hyper Converged Infrastructure Market 2019-2023 | Emergence of HCI as an
Posted by Loise Williams on March 27th, 2020
The global hyper converged infrastructure (HCI) market is expected to grow by USD 24.56 billion during the period 2019-2023, according to the latest market research report by Technavio.
Companies storing data on the cloud face multiple regulatory and compliance hurdles. In addition, economies such as Turkey have regulations that require data to be stored locally, in turn, boosting the demand for HCI systems across the globe. Hyper converged infrastructure (HCI) systems allow organizations to keep data safe in their on-premise data centers, and provide multiple data protection features such as snapshots, replication, and encryption. These systems also include features such as redundant array of independent disks (RAID) and erasure coding, which helps to keep multiple copies of data in different systems. Some systems also come with built-in disaster recovery features, which aid in preventing business downtime. Such enhanced data protection offered by HCI systems will boost their adoption during the forecast period.
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As per Technavio, emergence of HCI as an alternative to public cloud will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Hyper Converged Infrastructure Market: Emergence of HCI as an Alternative to Public Cloud
Several businesses across the world are migrating their entire IT infrastructure to the cloud as it offers a high level of flexibility. However, there are risks associated with storing an organization's data on the public cloud. Some financial institutions have faced regulatory hurdles or compliance issues with respect to storing their data on the cloud. This has encouraged enterprises to look at the hybrid cloud model, while some are finding a suitable on-premises alternative. HCI solutions are increasingly emerging as the ideal alternative to public cloud platforms such as Azure or AWS as these systems are simple to manage and help reduce the costs associated with traditional data center systems. HCI brings cloud-like flexibility to on-premises data centers, which is prompting many cloud service providers to implement HCI systems in their cloud.
“Simplicity in management, reduction in TCO, enhanced data protection are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
Global Hyper Converged Infrastructure Market: Segmentation Analysis
This market report segments the hyper converged infrastructure market by end-user (financial services, healthcare, education, government, and others) and geographic regions (North America, Europe, APAC, South America, and MEA).
North America led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. The market growth in North America can be attributed to the favorable climate for data center innovations, availability of infrastructure, regulatory policies for data security, and the presence of established vendors in the advanced economies of the region.
Some of the key topics covered in the report include:
Five Forces Analysis
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About the AuthorLoise Williams
Joined: August 7th, 2019
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