The global mainframe market is projected to witness a substantial growth, growing at a CAGR of 3.2% during the forecast period from 2021 to 2029, according to a new report added to ResearchAndMarkets.com website.
According to the "Mainframe Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report, based on geography, North America led the overall mainframe market accounting for the largest market share in 2020. The region is likely to remain foremost throughout the forecast period from 2021 to 2029.
The presence of some major players, such as IBM, BMC Software, Inc., Dell Inc., and Hitachi Vantara Corp., also supports the market growth and is expected to provide lucrative opportunities in the years to come, the report said. In North America, the U.S. dominated the regional mainframe market in 2020, and is projected to reign throughout the forecast period from 2021 to 2029, the report noted.
In terms of industry, the report noted that mainframes continue to occupy a desirable place in various fields such as healthcare, banking, insurance, finance, government, and other public as well as private enterprises. In 2020, BFSI (banking, financial services, and insurance) sector accounted for the largest market share in the global mainframe market. Many financial institutions and major banks have mainframes at the center of their technological strategies. More than 70% of banking corporate data still resides on the mainframe. Mainframes alone have reliable, robust and rapid processing power that is required by financial institutions to do all major computing functions in one place.
For more information about this report visit www.researchandmarkets.com/r/gk00nj.