Hyper Converged Infrastructure Market Size, Share, Growth Analysis, By Component(Solutions, Services), By Application(Web-based software, Cloud-based software), By End User(Cloud Providers, Colocation Providers, Enterprises), By Organization Size(Large enterprises, and Small & Medium-sized Enterprises (SMEs)), By Enterprise(BFSI, IT & telecom, Government, Healthcare), By Region - Industry Forecast 2024-2031

Global Hyper Converged Infrastructure Market size was valued at around USD 12.3 billion in 2022 and is expected to rise from USD 16.9 billion in 2023 to reach a value of USD 115 billion by 2031, at a CAGR of 27.1% over the forecast period (2024–2031).

Due to its ability to simplify infrastructure administration, optimize infrastructure costs, and expedite the deployment of new workloads, hyper-convergence architecture has recently garnered significant traction among companies. Throughout the projected period, this has further bolstered the hyper converged infrastructure market's expansion. The global hyper converged infrastructure market growth can be attributed to the pay-as-you-go pricing structure that is enabled by the architecture of the hyper converged infrastructure and its ability for incrementally scaling. Business critical applications, which are currently deployed on a three tier IT architecture will migrate to hyper converged infrastructure owing to its integrated stack system, integrated infrastructure system, and integrated reference architectures. 

The rising number of remote workers and the increasing use of cloud-oriented services have presented businesses with new challenges on security. In this regard, hyper converged infrastructure provides infrastructure for services that is secure and scalable, helping organizations to fortify data protection as well as minimize the risk of cyber threats. All in all, the global hyper converged infrastructure market is on the rise mainly due to the increasing concerns of data protection. The market is also expected to keep on growing in the next few years as long as organizations maintain their priority on data security. As a result, these hyper converged infrastructure related variables have improved the market's compound annual growth rate (CAGR) globally in recent years.

US Hyper Converged Infrastructure Market is poised to grow at a sustainable CAGR for the next forecast year.