Data Bridge Market Research have published an extensive report on the global mainframe market. Tracking the years 2022 – 2029, their report contains data points and analysis that will be vital to all professionals in the legacy space and beyond. Jubilant are summarizing their key findings in this article, while the full report can be downloaded here.
Size
The Global Mainframe Market was valued at 2.40 billion USD in 2021 and is forecasted to reach USD 3.18 billion USD by 2029. A CAGR of 3.56% is predicted over the course of 2022 – 2029.
The Asia-Pacific region is set to grow at the fastest rate over this period, due to the combination of an established IT industry coupled with an increasing number of small and medium size enterprises using mainframe technologies.
key Trends
- High Performance Computing (HPC) Organizations are seeking to prioritize faster processing, more data storage and lower latency. Cloud storage continues to be a popular way for organizations to ensure maximum performance and disaster recovery.
- Security Data breaches are rapidly increasing across all industries, leading organizations to heavily invest in centralized data safety and security solutions. Increased storage and simplified access to organizational data are also growing trends.
Further Opportunities
- Internet of Things integration with legacy technologies presents an opportunity for more data collection and ease in running analytics. Digitalization will allow more data processing activities.
Challenges
- Budget The deployment and upkeep of large data storage solutions can be costly, especially for the smaller organizations which are expected to be a driver of growth. Slow onboarding processes, data costs and the complicated nature of legacy technology are also challenges. Technical Skills The mainframe market is beset with problems of technical knowledge. As experienced generations retire and organizations search for replacements, the lack of COBOL knowledge or legacy system skills in younger generations, especially in developing economies, is an obstacle which may hamper growth.
Download the full report at Data Bridge Market Research