Virtualization Security Market Size
Rise in adoption of hybrid cloud and 5G network technologies across IT & telecommunication and government & defense sector in these regions.
PORTLAND, PORTLAND, OR, UNITED STATES, March 6, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Virtualization Security Market by Type, Organization Size, Deployment Model and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global virtualization security market size was valued at $1.62 billion in 2020, and is projected to reach $6.29 billion by 2030, registering a CAGR of 14.6% from 2021 to 2030.
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Virtualization security is the collective procedure, measures, policy, and process intended to ensure the protection of a virtualized infrastructure and environment. Virtualization security is an extensive concept that includes various methods to implement, monitor, evaluate, and manage security within a virtualized environment. Further, virtualization security can centralize the tasks while advancing scalability and capability, lead to the consolidation of the network environment and ease of management.
Likewise, virtualization security acts as a security barrier installed to ensure secure access to a network as it can provide security services and traffic isolation within a cloud infrastructure, along with a customized firewall. Moreover, rapid automation across IT, BFSI, government, and healthcare sector sectors are propelling the growth of the virtualization security market.
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The growth of global virtualization security is majorly driven by a surge in concerns related to cybersecurity solutions across prime enterprises and rise in the adoption of bring-your-own-device and Internet of Things trends. However, a lack of awareness of virtualization security and skilled professionals is acting as a prime restraint of the global market. On the contrary, a rise in the adoption of virtual applications across prime enterprises coupled with a surge in government regulation is anticipated to provide lucrative opportunities for the virtualization security industry during the forecast period.
Based on the deployment model, the cloud segment is projected to portray the highest CAGR of 15.8% during the forecast period, due to benefits such as increased flexibility, scalability, and ease of administration. However, the on-premise segment dominated the global battery materials market in 2020, contributing to nearly three-fifths of the global virtualization security market, due to the rise in the adoption of virtualization security solutions across on-premise platforms among strongly regulated industries.
The global virtualization security market across North America held the lion’s share in 2020, accounting for nearly two-fifths of the market, as the region is the most dominant market for the virtualization security industry and home to major market players that offer advanced solutions. However, the market across Asia-Pacific is expected to register the highest CAGR of 16.5% during the forecast period, due to the presence of prime players in the market and increase in penetration of AI-powered electronic equipment in the region.
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Region-wise, the market was dominated by North America in 2020, and is expected to retain its position during the forecast period. The adoption of cloud computing solutions in healthcare& life science and BFSI is expected to propel the growth of the virtualization security industry in this region. However, Asia-Pacific is expected to witness a significant growth rate during the forecast period, to the growing penetration of mobility and early adoption of AI-driven analytics and rising virtualization security market application in business intelligence.
The key players profiled in the virtualization security market analysis are Trend Micro Incorporated, IBM Corporation, Juniper Networks, Inc., Dell EMC, Intel Corporation, Microsoft Corporation, VMware, Inc., Broadcom, Inc., Sophos Ltd and McAfee, LLC. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the virtualization security industry.
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 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.
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