The composable infrastructure market size is estimated to be USD 616 million in 2018 and is expected to reach USD 5,102 million by 2023, at a Compound Annual Growth Rate (CAGR) of 52.6%
LONDON, Nov. 14, 2018 /PRNewswire/ -- The growing need for scalability and agility of data center infrastructure is expected to drive the growth of the composable infrastructure market
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The composable infrastructure market size is estimated to be USD 616 million in 2018 and is expected to reach USD 5,102 million by 2023, at a Compound Annual Growth Rate (CAGR) of 52.6% during the forecast period. The major factors driving the growth of the composable infrastructure market include the growing need to bridge the gap between traditional and new infrastructure and high scalability and agility of composable infrastructure. The major factors that are expected to hinder market growth are vendor lock-in and single point of failure.
Composable infrastructure hardware segment is expected to grow at a higher CAGR during the forecast period
The scope of this report covers the analysis of the composable infrastructure market by type, vertical, and region.Composable infrastructure hardware is expected to account for the largest market share in the global composable infrastructure market by type during the forecast period.
The growing demand for composable infrastructure hardware is mainly due to the increasing number of enterprise applications and demand for dynamic hardware requirements to make IT infrastructure more agile and scalable.
BFSI segment is expected to implement composable infrastructure at highest pace among the other verticals, to avoid billion-dollar losses due to disruptions while processing significant quantities of data
The BFSI segment is expected to implement composable infrastructure solutions at the highest CAGR during the forecast period.This infrastructure is expected to help financial institutions and financial service providers improve their operational efficiency and productivity.
Some of the key advantages of deploying composable infrastructure solutions include seamless scalability, low operational expenditure, and reduced management overheads. However, the BFSI sector is more likely to deploy composable infrastructure, as these solutions help increase the speed of data processing and alleviate business risks by unifying the control of all operations from a single point.
The market in the Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period
By region, the composable infrastructure market in the Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period.The major countries that are expected to witness high growth rates in this region include China, India, Japan, Singapore, and others.
The market in APAC is majorly driven by the focus of enterprises on in-house data centers.Companies in this region are bringing about changes in their strategies from customer acquisition to customer experience.
These companies are transforming their core business applications and are making them agile to respond to business changes.Thus, organizations require more agile and scalable infrastructure that can withstand the workload requirements of their new applications.
Moreover, this region comprises some the fastest-growing economies investing significantly on their IT infrastructure to promote digitalization.
The break-up profiles of the primary discussion participants are given below:
• By Company Type: Tier 1 (40%), Tier 2 (35%), and Tier 3 (25%)
• By Designation: C-Level (45%), Director Level (30%), and Manager Level (25%)
• By Region: North America (35%), APAC (20%), Europe (30%), and RoW (15%)
The key market players profiled in this report include HGST (US), HPE (US), Dell EMC (US), Lenovo (China), DriveScale (US), TidalScale (US), Liqid (US), One Stop Systems (US), Cloudistics (US), and QCT (Taiwan).
Research Coverage
The global composable infrastructure market has been segmented by type, vertical, and region.A detailed analysis of the regions has been done to provide insights into the potential future business opportunities across major regions.
In addition to this, the strength of the service portfolio and business strategy excellence are some of the other MarketsandMarkets analyses included in the report.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall composable infrastructure market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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