Rapid development of IoT landscape and surge in demand for high-performance computing propel the growth of the global mainframe market.
PORTLAND, OREGON, UNITED STATES, October 20, 2020 /EINPresswire.com/ — Increase in demand for high-performance computing, development of IoT landscape, and surge in adoption of the mainframe as a service drive the growth of the global mainframe market. On the other hand, dearth in mainframe skilled professionals and high costs check the growth to some extent. However, incorporation of blockchain technology with mainframe and on-going mainframe modernization are expected to create a number of lucrative opportunities for the key players in the market.
The mainframe market was led by BFSI industry and is projected to maintain its dominance during the forecast period, owing to rise in adoption of upgraded mainframe solutions among financial organizations to tackle increasing financial transactions and workloads.
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The global mainframe market was estimated at $2.09 billion in 2017 and is expected to hit $2.90 billion by 2025, registering a CAGR of 4.3% from 2018–2025. The report provides a detailed analysis of the market, including top investment pockets, industry drivers and restraints, market size & forecast, market classification, and competitive scenario.
Based on the industry vertical, the BFSI segment is anticipated to continue its top status and garner more than one-quarter of the total market share during the estimated period. At the same time, the retail segment is projected to showcase the highest CAGR of 6.9% throughout 2018–2025.
Based on the component, the Z systems segment accounted for more than four-fifth of the total market share in 2017 and is expected to dominate through 2018–2025. The other segment, on the other hand, is expected to grow at the highest CAGR of 6.5% during the study period.
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Based on geography, North America generated more than two-fifth of the total revenue in 2017 and is predicted to lead the trail till 2025. Simultaneously, the Asia-Pacific region is assumed to garner the highest growth rate of 6.5% during the estimated period.
The key market players analyzed in the global mainframe market report include NEC Corporation, CA Technologies, Dell EMC, Unisys Corporation, Fujitsu Ltd., BMC Software, Inc., HCL, Hewlett-Packard, Compuware Corporation, and IBM Corporation. These market players have adopted several strategies including partnership, expansion, collaboration, joint ventures, and others to strengthen their foothold in the industry.
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Source: EIN Presswire