HP Z4 workstation product revamped
HP Inc. (HPQ) believes that there is still room for it to garner a larger share of the workstation market, allowing it to drive revenue growth. In February, the company launched a revamped version of its bestselling workstation product, the HP Z4, as part of its push for more revenues in the product developer market.
“The revamped Z4 workstation, along with our latest HP Windows Mixed Reality Headset and new customer-friendly VR solutions and services, will transform the way products across industries are developed,” said HPQ’s head of workstations, Xavier Garcia.
Workstation market to expand 9.8% per year over the next decade
With the revamped HP Z4 workstation, HPQ is particularly targeting simulation-based design and VR (virtual reality) content creation markets.
The global workstation market is projected to expand at an average annual rate of 9.8% from 2016 to 2026, according to Future Market Insights. The growth is expected to be driven by factors such as growing demand for 3D animation software and digital content creation.
VR content creation market to cross $41 billion by 2024
In the digital content creation market, VR content creation market is expected to grow at a rapid rate of 89.8% per year from 2016 to 2024, according to Transparency Market Research. The global VR content creation market is forecast to cross $41.0 billion by 2024 from an estimated $147.5 million in 2015, as illustrated in the chart above.
HPQ is hoping to ride the robust growth of the VR content creation market with its HP Z4 workstation product, which sells for $1,499.
HPQ registered a 14.2% YoY (year-over-year) increase in revenues in fiscal 1Q18.[1. fiscal 1Q18 ended January 2018] Its sibling Hewlett Packard Enterprise (HPE) recorded a 1.3% YoY increase in revenues in the same period.