The global virtualization security market size will touch USD 8 billion at a 12% CAGR during the forecast period 2020- 2027, states the latest Market Research Future’s (MRFR) virtualization security market forecast. Virtualization security, put simply, is a collection of procedures, device management techniques, and controls that ensure utmost security to counter cyber-attacks.
Various factors are fueling the global virtualization security market growth. As per the recent MRFR
market estimates, such factors include the growing need for managed security services among various organizations and businesses, rapid rise in cyber-attacks, the growth of digital and software industry, increasing awareness about the various benefits of virtualization security, and different virtualization security policies, and favorable virtualization security solutions. Besides, the inclination towards virtualized infrastructure among enterprises is amongst the latest virtualization security market upcoming trends.
On the contrary, complexities associated with installation and management, drawbacks of virtualization, shortage of trained professionals, and lack of familiarity of the virtual security, may impede the global virtualization security industry growth over the forecast period.
COVID-19 Impact on the Virtualization Security Market
Fortunately, the global virtualization security market has not faced the brunt of the COVID-19 pandemic. The key factors boosting the market growth is the burgeoning need for cloud computing technology particularly in the healthcare domain for analyzing patients’ data. Besides, virtualization security applications are helping to make remote work more manageable and thus ensuring the security of the network and data.
The MRFR report throws light on an inclusive segmental analysis of the global virtualization security market based on type, services, end users, and infrastructure.
By type, the global virtualization security market is segmented into software and hardware. The hardware segment is again segmented into networking. The software segment is again segmented into virtual client computing software, operating system, security management, and system and networking management.
By services, the global virtualization security market is segmented into support and maintenance, consulting, integration and design, and others.
By end users, the global virtualization security market is segmented into large enterprises, government (BFSI), healthcare and retail, telecommunication, IT, cloud service provider, and others.
By infrastructure, the global virtualization security market is segmented into virtual machine, web server, hypervisor, and virtual switch.
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By region, the global virtualization security market covers the recent trends and growth opportunity across Europe, North America, the Asia Pacific (APAC), and Rest of the World (RoW). Of these, North America will remain domineer in the market over the forecast period. Increased quantum of demand to management areas of identity and access, growing need for security solutions by American companies, growing cloud computing market, highest cyber-attacks that demand high end security solutions, and rapid technological changes in the US are adding to the global virtualization security market share in the region.
In Europe, the global virtualization security market is predicted to have the second-largest share over the forecast period. Rising cases of cyber-attacks, rich IT and automotive industry, increasing adoption of virtualization security services and solutions, progressive growth in the implementation of virtualization security services and solutions owing to influential technical experts & substantial IT budgets, proficient technology background, strong proliferation of cloud, and the presence of higher number of virtualization security providers are adding to the global virtualization security market growth in the region.
In the APAC region, the global virtualization security market is predicted to have healthy growth over the forecast period for the growth of Asian countries like Japan, India, and China and the region being the hub to a large IT industry.
The prominent players profiled in the global virtualization security market report include Oracle Corporation (U.S.), CA Technologies (U.S.), Intel Security Group (U.S.), Ericsson Networks (Sweden), Dell Inc. (U.S.), Hewlett-Packard (U.S.), Fortinet Inc. (U.S.), VMware Inc. (U.S.), Symantec Corp. (U.S.), Trend Micro Inc. (Japan), and Altor Networks (U.S.). Partnerships, mergers and acquisitions, new product launch, geographic expansions, among others are some of the virtualization security strategies adopted by key players.
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Virtualization Security Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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