CHICAGO, November 6, 2018
CHICAGO, November 6, 2018 /PRNewswire/ --
According to the new market research report "Composable Infrastructure Market by Type (Software and Hardware), Vertical (BFSI, Healthcare, IT and Telecom, Government, Manufacturing), and Region (North America, Europe, Asia Pacific, and RoW) - Global Forecast to 2023", published by MarketsandMarkets™, the Composable Infrastructure Market is expected to grow from USD 616 million in 2018 to USD 5,102 million by 2023, at a Compound Annual Growth Rate (CAGR) of 52.6% during the forecast period.
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The major factors driving the Composable Infrastructure Market include the ever-growing need for data storage and highly scalable data storage solutions, such as composable infrastructure, low CapEx and opex of composable infrastructure, and growing adoption of virtualization.
Composable infrastructure hardware is expected to account for the larger market share during the forecast period
Composable infrastructure software is expected to account for the larger market share in the global Composable Infrastructure Market by type during the forecast period. The composable infrastructure hardware segment includes appliances/platforms and general-purpose servers (enabled by composable software). The segment is expected to witness growth primarily due to vendors, such as HPE, Liqid, and DriveScale with existing products in this market, and newer entrants, such as Dell EMC, whose newly announced products are expected to be introduced in the market in 2019.
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BFSI segment is expected to grow at a higher CAGR during the forecast period
Composable infrastructure solutions are out-of-the-box solutions that consolidate major functions of the data center, which include storage, compute, data recovery, and network support. These solutions help banks, and other financial institutions, and financial service providers improve their operational efficiency and productivity. The growing adoption of virtualization and the ever-growing data and data storage needs within the vertical is expected to drive market growth during the forecast period.
North America is expected to account for the largest market share during the forecast period
In the Composable Infrastructure Market by region, North America is expected to account for the largest market share. The well-developed digital economy in North America and the expansion of the data center industry are key factors contributing to the growth of the Composable Infrastructure Market in this region. Surging demand for scalability in solutions, reduction in operational expenditure, tax exemptions, and low total ownership cost on IT infrastructure are the prime factors driving the growth of the Composable Infrastructure Market in this region.
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Major vendors in the Composable Infrastructure Market include HGST (US), HPE (US), Dell EMC (US), Lenovo (China), DriveScale (US), TidalScale (US), Liqid (US), OSS (US), Cloudistics (US), and QCT (Taiwan).
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