The rise in the adoption of virtual applications across prime enterprises has boosted the growth of the global virtualization security market.
PORTLAND, PORTLAND, OR, UNITED STATES, November 21, 2023 /EINPresswire.com/ — In a recent report by Allied Market Research titled “Virtualization Security Market,” the global market size for virtualization security was $1.62 billion in 2020 and is projected to reach $6.29 billion by 2030, with a CAGR of 14.6% from 2021 to 2030.
Virtualization security encompasses procedures, policies, and processes aimed at safeguarding virtualized infrastructures. It includes various methods for implementing, monitoring, evaluating, and managing security within virtual environments. The concept enhances scalability, centralizes tasks, and simplifies management, acting as a security barrier to ensure secure network access. It provides security services, traffic isolation, and customized firewalls in cloud infrastructures. The market’s growth is propelled by increased automation in IT, BFSI, government, and healthcare sectors.
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What are the driving forces behind the increasing demand for virtualization security?
The increasing volume of server loads poses a significant challenge for businesses. The introduction of virtualization provides a solution by streamlining server load management, resulting in cost and time savings for the company. Virtualization leads to a reduction in hardware, thereby improving security measures with fewer devices and, consequently, fewer data centers. Organizations are shifting their focus from infrastructure to technology, emphasizing cost-effective business functions and prioritizing expenditure considerations.
Global virtualization security growth is driven by cybersecurity concerns in enterprises and the adoption of trends like bring your own device and Internet of Things. Challenges include a lack of awareness about virtualization security and a shortage of skilled professionals. However, opportunities arise from the rising adoption of virtual applications in enterprises and increased government regulations.
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Covid-19 scenario:
• The Covid-19 pandemic positively affected the market due to rise in demand for virtualization security solutions among small and medium enterprises for protecting company’s data.
• Moreover, the global adoption of work-from-home increased the need to detect and block malware and reduce cyber-attacks and data theft issues.
• The rise in demand for AI and machine learning-powered solutions increased the need for the virtualization security market. However, the lack of skilled workforce hampered the market.
In 2020, the solution segment claimed the largest market share in the global virtualization security market, constituting over three-fourths of the total, driven by the proliferation of AI-driven electronic applications and a growing trend toward data center applications in organizations. Nevertheless, the service segment is anticipated to exhibit the highest Compound Annual Growth Rate (CAGR) of 16.4% throughout the forecast period, attributed to the rising emphasis on cybersecurity trends.
Regarding the deployment model, the cloud segment is expected to demonstrate the highest CAGR of 15.8% in the forecast period, owing to advantages such as enhanced flexibility, scalability, and simplified administration. Conversely, the on-premise segment dominated the global virtualization security market in 2020, contributing to almost three-fifths of the market share. This dominance is attributed to the increased adoption of virtualization security solutions on on-premise platforms, particularly in strongly regulated industries.
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North America secured the majority share of the global virtualization security market in 2020, accounting for nearly two-fifths of the total market. This is primarily due to the region’s prominence as the leading market for the virtualization security industry and its status as the headquarters for major market players offering advanced solutions. On the other hand, the Asia-Pacific market is poised to register the highest CAGR of 16.5% during the forecast period, driven by the presence of key players and the growing penetration of AI-powered electronic equipment in the region.
North America dominated the market in 2020, driven by the adoption of cloud computing solutions in healthcare, life sciences, and BFSI. The region is expected to maintain its leading position. Asia-Pacific is poised for significant growth due to the penetration of mobility, early adoption of AI-driven analytics, and increased virtualization security applications in business intelligence.
Prominent participants in the virtualization security market include NetIQ (Micro Focus, The Attachmate Group), Apani Networks, VMware (Dell Technologies), Shavlik (Ivanti), LogLogic (TIBCO Software), Trend Micro, McAfee, Centrify (Delinea), Stonesoft (Forcepoint), Configuresoft (Dell EMC), Red Cannon, Altor, Lancope (Cisco Systems), Catbird (BC Partners and Medina Capital), Check Point Software Technologies, Tripwire (HelpSystems), and Reflex Systems (StrataCloud). These companies are employing strategic initiatives such as product launches, acquisitions, collaborations, and business expansions to strengthen their market presence.
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