New York, USA, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global virtualization security market. According to the report, the global market is projected to surpass $6,986.3 million and grow with a CAGR of 13.6% in the estimated period, 2021–2028. This all-inclusive report delivers a comprehensive overview of the current and future situation of the global market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of the COVID-19 Pandemic on the Virtualization Security Market
The outbreak of the COVID-19 pandemic in 2020 has had a positive impact on the growth of the global virtualization security market. The execution of lockdown restrictions resulted in the closure of several industries across the world. Hence, many businesses shifted to a remote working model and adopted digital technologies to enable the smooth functioning of business processes. However, the growing digitalization of businesses gave rise to increasing cases of cyber-attacks. As a result, the demand for virtualization security solutions to safeguard network perimeter access surged greatly during the crisis period, which boosted the market growth.
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Factors Impacting the Virtualization Security Market Growth
The key factor boosting the growth of the global virtualization security market is a significant rise in the implementation of virtual applications by several small as well as large businesses to access business software from remote locations. In addition, the rising need for network security in enterprises and at the individual level is motivating businesses to invest in virtual security solutions to offer trustworthy data transformation and security services; this is expected to open doors to lucrative opportunities for the growth of the market. However, absence of skilled professionals in the virtualization security sector is anticipated to hamper the market’s growth.
The report segments the global virtualization security market into components, deployment, enterprise size, end use, and region.
Solution Sub-Segment to Grab a Foremost Share of the Market
The solution sub-segment of the components segment is anticipated to grow enormously by surpassing $4,955.9 million in the forecast period. This growth is mainly owed to the increasing implementation of virtualization technology by several businesses, which is boosting the demand for virtualizations.
Cloud Sub-Segment to Grab a Foremost Share of the Market
The cloud sub-segment of the deployment segment is anticipated to grow enormously by surpassing $4,332.0 million in the forecast period. This growth is mainly owed to the increasing popularity of virtualization as a technique of enhancing system security and enabling on-promise cloud computing technologies.
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Large Enterprises Sub-Segment to Grow Remarkably
The large enterprises sub-segment of the enterprise size segment is expected to hit $4,384.2 million in the forecast period. This is primarily due to the rising adoption of cloud-based technologies by large enterprises which eventually need effective virtual security solutions.
IT & Telecommunication Sub-Segment to Grab a Foremost Share of the Market
The IT & telecommunication sub-segment of the end-use segment is anticipated to grow enormously by surpassing $1291.5 million in the forecast period. This growth is mainly owed to the increasing demand for virtualization security solutions owing to the rising adoption of cloud-native 5G technology, growing data traffic owing to the COVID-19 pandemic, rising demand for broadband services, and rising need for network security solutions.
Asia-Pacific Region to Perceive Speedy Growth
The report analyzes the global virtualization security market across several regions such as Asia-Pacific, North America, Europe, and LAMEA. Among these, the Asia-Pacific market is anticipated to garner $2,353.7 million in the estimated period. This growth is mostly due to the growing demand for virtualization security solutions due to emerging IT infrastructure in nations like China and Japan in this region.
Top Players of the Global Virtualization Security Market
The report states some of the foremost players operating in the global virtualization security market including
- Sophos Ltd
- Fortinet Inc.
- Cisco Systems, Inc.
- Broadcom Corporation
- Citrix Systems, Inc.
- Trend Micro
- VMware
- Juniper Networks, Inc.
- Check Point Software Technologies, Ltd.
- IBM, and others.
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market. – Inquire here to grab full report
For instance, in February 2021, Elliptic Labs, a leading AI software firm, introduced a novel Virtual Security Sensor™, a presence-detection solution used to increase the security of data stored on laptops.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about Virtualization Security Market:
- Global Virtualization Security Market to Surpass $6,986.3 Million by 2028, Owing to the Increasing Requirement for Managing Security Services Within Organizations
- Virtualization Security: A Defining Solution for a Safer World
