Capacity management market is expected to attain a CAGR rate of growth of 19.3% keeping in mind the capacity management trends. This expectation is for the ongoing forecast period of 2017-2023. The global market was valued at a global market sum of USD 597.5 million during the period that had ended in 2017 followed by the current forecast that accounts for USD 1568.48 million. The rise of the major factors for the same is being considered to be the rise in the growth are the opportunities in the way for cloud solutions as well as digitization.
Capacity management solutions that are being offered by the target market players empower enterprises and enable them to plan their IT infrastructure and resource capacity efficiently to avoid outages and optimize the costs incurred toward under-utilized resources. These marketing solutions enable enterprises to collect the data from different processes and infrastructure units for providing a holistic view of the entire IT resource and infrastructure on a single platform. This market service is been designed for the delivery of IT-related services to businesses, and further, cater to the need of the consumers. The capacity management market is quite set to the experience of a major boost that is widening its operation owing to the increased number of employees making use of the IT devices and services at their workplace.
The outbreak of the coronavirus global pandemic of 2017 was unexpected and also, many businesses around the globe had to shift to remote workspaces instead of the traditional ones. However, many businesses, as well as IT organizations, were seen as largely driven along with sustaining owing to the rising demand of the same during the outbreak followed by the period.
Since the outbreak of the pandemic has taken a toll on the global business functioning, the efforts of the capacity management market are applauded for their tremendous contribution and corporation. However, owing to the pandemic, there are many questions related to the budget, salaries, and efforts that are being poured in to overcome the losses that have been imposed owing to the sudden outbreak. The government along with the key market players is gearing up for providing opportunities, investments, enhancing the sum of funding and support of a similar kind to the companies providing capacities and management.
The faster pace of technological developments in the global functioning of the capacity management market has led to the higher adoption of new technologies among ICT enterprises. The adoption of new technologies by the global market premises, in turn, has smoothened the enterprises’ business processes. This further leads to a major rise in the capacity issues in IT services, thereby hampering the organizations’ productivity and resource utilization. To avoid this, the global capacity management market organizations are deploying effective capacity management solutions for effectively allocating and utilizing their IT resources, depending on the demand and projected optimizations costs.
Globally, SMEs are being considered as the backbone of a country’s economy, contributing significantly to the Gross Domestic Product (GDP). SMEs are growing substantially in most of the developing economies, are emerging as early technology adopters. However, the adoption rate of capacity management solutions among SMEs is estimated to be slower during the forecast period ending in 2023, due to the lack of awareness, and fewer IT infrastructure complexities. These enterprises have the capacity management solutions and services expensive enough to manage their limited IT infrastructures and resources and prefer managing their capacity requirements traditionally.
The technological evolution in the ICT space as a part of the mushrooming capacity management market share has empowered enterprises to improve their business processes and productivity. Following the evolution, global organizations have adopted and integrated new technologies into their existing infrastructure. The global integration of legacy systems with new technologies and their employment has further increased the complexities of IT infrastructures. Furthermore, the market enterprises also find it difficult to effectively manage their infrastructures while also focusing on their core competencies. These rising complexities make it difficult for functional enterprises to collect data for planning and managing their IT capacity to efficiently match the trends regarding the demand and supply-side requirements and optimize resource allocation and utilization. Therefore, the global capacity management market enterprises require capacity management solutions and services to improve their operational efficiency and optimize the costs and IT infrastructures to avoid outages and overspending.
Owing to the different sizes of the firms like small, medium, and large enterprises, that are a part of the market, the global market size has been segmented. The capacity management market has been segmented based on the understated factors:
By Organization Size
By Deployment Type
There has been a rapid degree of deployment of capacity management solutions by SMEs to maximize investments in infrastructure is one of the major reasons that are expected to drive the capacity management market growth for SMEs during the forecast period that ends in 2023.
The cloud deployment type of the global market is expected to grow at a higher CAGR during the forecast period of 2017-2023. Enhanced security features, interactive dashboards, ease of flexibility, and better scalability are some of the major prominent market factors encouraging enterprises across the globe to adopt the cloud deployment type.
The North American region of the capacity management market share is expected to hold the largest market share while the Asian Pacific region is expected to register the highest CAGR during the ongoing forecast period. The quick pace of the product and technology development in the telecom and IT verticals is expected to increase the deployment of capacity management solutions across all regions.
The key market players dominating the capacity management market are as follows:
Capacity Management Market Recent Developments
Capacity Management Market Report Overview
The capacity management market report talks about the dynamics of the market and the trends that follow to help the market grow during the forecast period ending in 2023. The COVID 19 pandemic has changed the way of working and providing IT solutions and the report helps in analyzing the same. The way companies are finding their way back with the boost is discussed and mentioned for investment purposes as well.
The technology investors, capacity providers, research and consultancy firms, government bodies, as well as, technology solution providers are the intended audience.
The market is expected to grow at a global CAGR of 19.3% during the forecast period of 2017-2023.
The North American market is likely to attain domination in the international market scale during the ongoing period that ends in 2023.