Newark, NJ, March 04, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global data centre security market is expected to grow from USD 7.19 billion in 2018 to USD 19.58 billion by 2026 at a CAGR of 15.61% during the forecast period from 2019-2026.
With the increasing cyber-attacks on the data centers, the demand for data centre security has been increased from past few years. Every year, data centres are incurring significant losses – they are losing money, customers and their reputation – due to cyber-attacks. Data and IT infrastructure security have always been a huge concern for all data centre businesses and now with IT systems moving to cloud platforms it has taken center stage on all IT agendas. Thus, with the increasing cyber-attacks threat, the demand for data centre security has been increased in the recent years.
The data centre includes networked computers and stores information that is used to run the businesses as well as organize and operate for centralizing IT operation process. The data centers act as the source of critical data and are the essential assets of organizations including customer information, intellectual property, and transaction records and this information must be secured. The increasing need for implementing security measures has become a critical need for organizations. Due to this, the security provider companies are frequently evolving their product offerings with new technologies, which will enhance the security of the data centres.
Global data centre security market is expected to witness rapid growth over the forecast period, owing to increasing data traffic, need for secured connectivity, and rise in cyber threats across the data centers. In addition to this, growing adoption of virtualization and cloud technology is one of the key driving factors for the data centre security market. The limited IT budgets, keeping IT personnel up to date with the unknown variables, piracy, and lack of awareness may limit the growth of market, over the forecast period. However, rising number of new data centers, joint initiatives undertaken by several regional governments and key players, and technological advancement is expected to boost the data centre security market in upcoming years.
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Key players operating in the global data centre security market include CheckPoint Software Technologies Limited, Hewlett Packard Enterprises, Citrix Systems, Fortinet, Inc., Dell EMC, Honeywell International Inc., FutureNet Solutions, Inc., IBM Corporation, McAfee, LLC, Juniper Networks, Inc., Schneider Electric, Robert Bosch GmbH, Trend Micro Incorporated, Symantec Corporation, Allegion, Arecont Vision, Assa Abloy, Axis communications, BOON Edam, FutureNet Security Solutions, and Hangzhou Hikvision Digital Technology among others. To enhance their market position in the global data centre security market, the key players are now focusing on adopting the strategies such as recent developments, mergers & acquisitions, product innovation, joint venture, collaborations, and partnership. Major players are continuously focused on new product developments and venture capital investments to obtain market share.
- For instance, in July 2019, Check Point Software Technologies Ltd. announced the two new high-end appliances, 16000 model and 26000 turbo security gateways, optimized for data center and Telco environments.
- In December 2019, Fortinet announced extended integration of its cloud security portfolio with Google Cloud to offer customers migrating to Google Cloud Platform (GCP) advanced security for their workloads and applications.
- In July 2017, IBM announced the expansion of its global cloud data center presence with four new facilities including two in London, England; one in San Jose, California; and one in Sydney, Australia.
The solution segment accounted for the major market share and valued around USD 3.98 billion in 2018
Component segment is divided into solution and services. The solution segment is further divided into physical security and logical security. The logical security segment is further segmented into compliance management, data protection, access control, threat and application security, and others. The physical security segment is further segmented into monitoring solution, access control, surveillance solution, and others. The solution segment is further divided into integration and deployment, consulting, and managed services. The solution segment valued around USD 3.98 billion in 2018, due to growing need for data center security solutions and development of virtualized data centre security solutions.
The IT and telecom segment is anticipated to grow at the highest CAGR of 16.48% over the forecast period
Application segment includes IT and telecom, aerospace and defense, financial services, government, healthcare, media & entertainment, and education. The IT and telecom segment is anticipated to grow at the highest CAGR of 16.48% over the forecast period. The increasing amount of awareness about the emergence of new threats, the sophistication of attacks, and the next generation technology is motivating the demand in the IT and telecom segment.
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Regional Segment Analysis of the Data Centre Security Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global data centre security market with market size around USD 2.82 billion in 2018. Adoption of virtualization and cloud deployments, presence of major players, and rapid technological advancements are some of the factors that led to the growth of data centre security market in North America region. Asia Pacific is the fastest growing region, due to increasing adoption of cloud in small and medium enterprises and the growing IT spending in the region.
About the report:
The global data centre security market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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