The Global Mainframe Migration Market is expected to exhibit strong growth, reaching USD 70.2 billion by 2030. As per the report titled “Mainframe migration Market Size, Share & COVID-19 Impact Analysis, By Type (Z systems, GS series and Others), By Industry Vertical (Agriculture & Forestry, Delivery & Logistics, Media & Entertainment, Construction & Mining, Oil & Gas, Security & Law Enforcement, Recreational Activity and Others), and Regional Forecasts, 2023-2030” observes that the market size in 2022 stood at USD 23.1 billion and USD 70.2 billion in 2030. The market is expected to exhibit a CAGR of 17.20% during the forecast period.
BMC Software, Inc and Key Resources, Inc. Signed An Agreement To Collaborate On Licensing And Marketing Mainframe Security Solutions
In July 2020, BMC Software, Inc. and Key Resources, Inc. collaborated to license and sell mainframe security solutions jointly. As a result of their collaboration, Key Resources will overtake BMC as its top mainframe security and vulnerability management provider. As a result, BMC Software Inc. will be able to expand its regional reach.
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Blockchain And Mainframe Migration Integration Will Promote Market Growth
With more than $94 billion in cryptocurrencies, blockchain has been one of the technologies with the quickest growth. Blockchain technology has recently developed several new uses, and it has the potential to be utilized to improve the security of business mainframes. A blockchain keeps track of digital transactions through a network of computers, verifies the user's identity after a transaction is entered, and then generates an immutable “block” of data in the ledger. It is more secure than other transaction types since no central authority or another party may tamper with the record. Consequently, enterprises can achieve data security and reliability through blockchain integration with mainframes. Additionally, by hosting a blockchain on a mainframe, businesses can benefit from the enormous computing capacity provided by mainframe systems. This computer capacity is essential in the context of blockchain technology and computationally intensive operations like cryptographic hashing. Furthermore, mainframes can help businesses focus on creating their blockchains to fill infrastructure gaps. These elements present growth potential for the global mainframe market.
Budgetary Issues And Problems Could Impede Market Expansion
The installation of systems and solutions for data storage is very expensive. Budgetary constraints in small businesses can slow the market's rate of expansion. The lengthy onboarding process, expensive data maintenance expenses, and complexity of legacy data will also hamper the market growth rate. A lack of data privacy, openness, and real-time vulnerability visibility will make the situation worse.
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Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the mainframe migration market plan acquisitions to improve their brand recognition globally. For instance, in January 2021, the extension of global strategic cooperation between Atos Syntel Inc. and IBM is intended to support businesses in streamlining business operations and accelerating their digital transformation.
List of Key Players Profiled in the Report
- BMC SOFTWARE, INC
- CA TECHNOLOGIES (BROADCOM)
- COMPUWARE CORPORATION
- DELL EMC (DELL TECHNOLOGIES)
- FUJITSU LIMITED
- HEWLETT PACKARD ENTERPRISE (HPE)
- HCL TECHNOLOGIES LIMITED
- INTERNATIONAL BUSINESS MACHINES CORPORATION (IBM)
- NEC CORPORATION
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Further Report Findings
- The market in North America is expected to gain a huge portion of the global mainframe migration market share in the coming years due to the increasing demand for mainframe migration solutions across several business verticals, including banking, insurance, governmental organizations, and other Fortune 500 companies in the region.
- Cloud-based solutions are widely used by the region's enterprises, accelerating income growth.
- In the Asia Pacific, the growth in this region is primarily driven by growth in IT expenditures by governmental and financial organizations in developing countries, including China, Japan, India, Singapore, and South Korea.
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