Description
The Global Composable Network Market size was USD 3.2 billion in 2023 and is projected to reach USD 120.2 billion by 2031, with a CAGR of 50.4% during the forecast period.
Global Composable Network Market: Overview
The composable network market is increasing in popularity as businesses seek flexible and adaptable IT infrastructure solutions. Composable architecture is comprised of parts that are modular – composable software, hardware, and API-driven automation – that can be quickly combined and modified according to changing requirements. This provides significant advantages such as resource effectiveness, scalability, and flexibility, which are ideal for the needs of cloud-based computing and digital change programmes. Companies such as Dell EMC, Nutanix, and Juniper Networks are in the lead of providing composable networking solutions. While North America presently leads the industry, the global environment is anticipated to shift rapidly as organisations throughout the world realise the revolutionary possibilities of composable architecture for their computer systems.
Global Composable Network Market: Covid-19 Impact
The COVID-19 epidemic has encouraged the deployment of composable networks. The move towards remote work and unexpected demands on resources emphasised the importance of agile and adaptable IT systems. Composable systems enabled businesses quickly modify their networks to accommodate workers who work remotely and changing loads. Increased demand is likely to drive bigger developments in the composable network the workplace.
Global Composable Network Market: Growth Drivers
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Rising Demand for Cloud and Edge Computing:
The increasing adoption of cloud computing and edge computing necessitates flexible and scalable network infrastructure. Composable networks, with their modular design, are ideally suited to meet these demands, fueling market growth.
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Focus on Digital Transformation:
Organizations are undergoing digital transformation initiatives, requiring IT infrastructure that can adapt to changing business needs. Composable networks offer the agility and scalability required for successful digital transformation, driving market adoption.
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Growing Need for Agile IT Infrastructure:
Businesses are increasingly operating in dynamic environments, requiring IT infrastructure that can rapidly adapt to new requirements. Composable networks, with their modular design and automation capabilities, cater to this need for agility, propelling market growth.
Global Composable Network Market: Restraining Factors
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Lack of Standardization:
The composable network market is still evolving, and a lack of standardized components and protocols can hinder interoperability between different vendors’ solutions. Standardization efforts are crucial for wider adoption.
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Security Concerns:
Integrating and managing a composable network with its modular components can introduce new security challenges. Robust security measures and best practices are essential to address these concerns.
Global Composable Network Market: Opportunity Factors
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Advancements in Automation Technologies:
The integration of automation technologies like artificial intelligence (AI) and machine learning (ML) with composable networks can further enhance their agility, efficiency, and self-management capabilities. This presents exciting growth opportunities.
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Growing Adoption in New Application Areas:
Composable networks are finding applications beyond traditional data centers, such as in Internet of Things (IoT) deployments and edge computing environments. This diversification opens new avenues for market growth.
Global Composable Network Market: Challenges
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Skilled Workforce Shortage:
Managing and maintaining composable networks requires a skilled workforce with expertise in automation, orchestration, and the specific composable network solutions being deployed. Addressing this skill gap is crucial for wider adoption.
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Initial Investment Costs:
Implementing a composable network can involve higher upfront costs compared to traditional network infrastructure. Developing cost-effective solutions and demonstrating the return on investment (ROI) will be essential for broader market acceptance.
Global Composable Network Market: Segmentation
Based on component: The market is segmented into Hardware and Software.
Based on End Use: The market is segmented into BFSI, IT & Telecommunication, Retail & Consumer Goods, Healthcare, Manufacturing, Others (Energy & Utilities, Government, and Media & Entertainment, among others)
Global Composable Network Market: Regional Insights
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North America:
The North American market is leading in the development of composable networks, due to a strong emphasis on the cloud, digital transformation, and a need for agile IT infrastructure. This market is divided into parts (hardware, software, automation tools), applications (data centres, cloud deployments, edge computing), industries (financial, healthcare, IT & telecom), and region. Dell EMC, Nutanix, and Juniper Networks belong to the industry leaders. An important trend is growing demand for automation of networks and programming. The market provides customisation possibilities for a thorough examination of individual economies, players, as well as goods on offer. The integration of AI approaches establishes intriguing growth opportunities, with the possibility to alter how the network is managed and optimised. Overall, North America’s composable network market is vibrant and ready for major growth.
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Asia Pacific:
The Asia Pacific area is fertile terrain to grow the composable network market, which is being pushed by several factors. Asia Pacific will likely expand rapidly due to reasons such as rising cloud use, an emphasis on digitization, and government efforts pushing IT infrastructure improvements. The increased demand for automation of networks and programmability is driving the market forward. Key firms such as Dell EMC and Nutanix are spearheading the drive, but further research into local businesses would provide a more complete picture. The use of AI technology opens up fresh development potential, especially in the automation and managing one’s emotions of composable networks.
Global Composable Network Market: Competitive Landscape
DriveScale, Inc.; HGST, Inc.; Liqid; NetApp.; Nutanix; TidalScale, Inc.; Dell; Western Digital; Hewlett Packard Enterprise; Cloudistics.
Global Composable Network Market: Recent Developments
- On May 21, 2024 Nutanix, a leader in hybrid multi-cloud computing, has unveiled new functionality for its Nutanix GPT-in-a-Box. This includes integrations with NVIDIA NIM inference microservices and the Hugging Face Large Language Models (LLMs) library.
- On March 24, 2020 DriveScale, Inc., the leading innovator of elastic bare-metal cloud infrastructure, announced support for Intel Optane Solid State Drives (SSDs). This enhancement provides secure, elastic storage and compute node configuration for high-performance, low-latency infrastructure. The solution is composed over a standard Ethernet network using NVMe-oF, allowing users to expand, reduce, or replace storage on-the-fly.