The global hyperconverged integrated system market is reported to exhibit a stellar growth in coming years, according to a Transparency Market Research (TMR) report. The hyperconverged integrated system market features a fragmented competitive landscape, with entry of new market players in the coming years. This is expected to raise the bar for existing vendors, amplifying the competition in the market. This will lead to vendor investing in several organic and inorganic strategies in order to capture a footprint in the global hyperconverged integrated system market.
Vendors in the global hyperconverged integrated system market are currently primarily players in the server, storage, and networking solutions. These vendors are expected to expand their functions and offerings to hyperconverged integrated systems. A key focus are of the vendors in this market is expected to be datacenter consolidation.
Prominent vendors in the global hyperconverged integrated system market are VMware, Inc., Cisco Systems, Inc., Hewlett Packard Enterprise, Oracle Corporation, and Fujitsu Limited.
TMR analysts report that the global hyperconverged integrated system market was worth US$1.5 bn. The market is predicted to reach US$31 bn by 2025, and exhibit a robust 37.3% CAGR over the forecast period 2017 to 2025.
The banking, financial and services (BFSI) sector is expected to emerge as the leading industry vertical segment in this market over the coming years. This could be due to the sector being an early adopter of technological innovations. In terms of geographical segmentation, Europe is expected to account for a lion’s share of the global market revenue, and exhibit a vigorous 43.8% CAGR over the forecast period.
Increasing Digitization to Stoke Growth
Due to the pervasiveness of digital methods in an increasing number of fields of life, hyperconverged integrated (HCI) systems has become an essential requirement for various sectors in recent years. Driven by its comprehensive control over several arms of a modern digitalized operating system, the global hyperconverged integrated systems market sees high demand. The overall cost reduction enabled by the use of hyperconverged integrated systems will likely spur market development in the coming years.
A constant growth of the consumer electronics market will probably be ensured with the growing urban demographic, and the booming telecoms sector is likely to make the continuous development of communication technology easier than ever. This is projected to lead to increased demand from the hyperconverged integrated systems market for user demographic information in different industries.
Dire Need for Data Safety to Bolster Market
A failure of a data center can lead to heavy losses for organizations. Disaster recovery typically forms part of a broader company continuity strategy. To ensure continuity, organizations increasingly switch from traditional backups to an application's virtualized backups. They deploy HCI backup or disaster recovery solutions. The process or recovery or backup is carried out on using hyperconverged integrated systems with replicated backup servers of each module. This advantage presented by HCI systems is likely to amplify sales in the global hyperconverged integrated systems market in the coming years.
Healthcare Sector to Provide Ample Opportunity
Due to increasing adoption of digital information storage mechanisms in the healthcare sector in the developed countries, the health sector's contribution to the hyperconverged integrated system is forecasted to exhibit 42.7 percent CAGR between 2017 and 2025.
Thus, the healthcare industry is expected to offer lucrative opportunity for growth of the global market over the forecast period.
This review is based on TMR’s report titled, “Smart Baggage Handling System Market (Type of Transport - Airport and Railway Station; Technology-Barcode system and Radio Frequency Identification; Solution - Sorting, Conveying, Tracking and Tracing, and Diverting) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025”
The Global Smart Baggage Handling System Market is Segmented As Follows: Top of Form
By Mode of Transportation
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