LONDON--(BUSINESS WIRE)--The global hyper converged infrastructure market is expected to post a CAGR of more than 38% during the period 2019-2023, according to the latest market research report by Technavio. However, the growth momentum will decelerate in the coming years because of the decrease in year-over-year growth.
A key factor driving the growth of the global hyper converged infrastructure market is enhanced data protection. Companies that store data on the cloud face multiple regulatory and compliance hurdles. Moreover, countries such as Turkey have regulations that require data to be stored locally. Hyper converged infrastructure (HCI) systems allow organizations to keep data safe in their on-premises 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 help 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 protection offered by HCI systems will boost their adoption during the forecast period.
As per Technavio, the 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 global hyper converged infrastructure market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global hyper converged infrastructure market: 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.
“HCI systems enable a high degree of automation when it comes to storage-related risks. They operate as a software-defined data center, which makes automation of daily operations possible using centralized management tools. In addition, HCI systems converge the storage and computation functionalities into a single highly virtualized solution. This reduces the number of components such as separate servers, storage, and networking devices that need to be managed by IT teams. Thus, the simplicity and automation brought about by HCI systems will drive the growth of the market during the forecast period,” says a senior research analyst at Technavio.
Global hyper converged infrastructure market: Segmentation analysis
This market research report segments the global 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 region.
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