New York, USA, Nov. 23, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global virtualization security market is anticipated to garner $6,986.3 million and a CAGR of 13.6% over the estimated period from 2021-2028.
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Covid-19 Impact on the Global Virtualization Security Market
Though the outbreak of the Covid-19 pandemic has devastated several industries, however, it has had a positive impact on the virtualization security market. Due to stringent lockdowns and strict government guidelines, many IT companies have adopted work from the home culture which enhanced the reliance on virtualized platforms and cloud-based environments. This has surged the demand for the usage of virtualization security to protect network perimeter access. Moreover, the increasing demand for cloud computing technology especially in the healthcare industry to analyze patients’ data has further propelled the growth of the market during the period of crisis.
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As per our analysts, the rapid adoption of virtual applications across small and medium businesses and large corporations globally is expected to bolster the growth of the market during the forecast period. Moreover, the utilization of cloud computing to manage a remote workforce, eliminate hardware requirements, and reduce maintenance and operational costs is further expected to upsurge the growth of the market throughout the estimated timeframe. Besides, the rising demand for virtualization security solutions across small and large organization across small and large organizations is expected to fortify the growth of the virtualization security market throughout the analysis period. However, a lack of skilled IT experts in virtualization security may impede the growth of the market during the forecast timeframe.
Segments of the Global Virtualization Security Market
Component: Solution Sub-Segment to be Most Lucrative
The solution sub-segment is expected to garner a revenue of $4,955.9 million and is predicted to continue a steady growth during the analysis period. This is mainly due to the rising threat of cyber-attacks all across the globe. In addition, the rapid growth of cloud computing and expanding use of virtualization technology is predicted to upsurge the growth of the virtualization security market sub-segment during the analysis period.
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Deployment: Cloud Sub-Segment to be Most Profitable
The cloud sub-segment is predicted to generate a revenue of $4,332.0 million during the forecast period. This is mainly because of the improving efficiency, flexibility of using cloud computing across businesses. Moreover, the emerging way of improving system security by cloud computing and increasing utilization of cloud computing across businesses to avoid platform’s vulnerability is expected to fortify the growth of the market sub-segment over the estimated timeframe.
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Enterprise Size: Large Enterprises Sub-Segment to be Most Beneficial
The large enterprises sub-segment is predicted to generate a revenue of $4,384.2 million over the analysis period. This is wide because of the increased flexibility, robustness, and network security of enterprise cloud computing. In addition, the organizations can access security tools such as access management, cloud security monitoring and can implement network-wide identity with enterprise cloud. This factor is expected to boost the growth of the virtualization security market sub-segment over the analysis period.
End-User: IT & Telecommunication Sub-Segment to be Most Productive
The IT & telecommunication sub-segment is anticipated to generate a revenue of $1291.5 million over the forecast period. This is due to the significant impact of cloud computing on the IT, technology, and business sectors. Furthermore, the unexpected jump in data traffic due to the global pandemic, the rise of cloud-native 5G technology, rising usage of broadband services, and increasing customer demands for security solutions, are the factors expected to fuel the growth of the virtualization security market sub-segment throughout the analysis timeframe.
Region: North America Region Expected to Have the Maximum Market Share
The North America region is expected to generate a revenue of $2,430.5 million and is predicted to dominate the market during the forecast period. This is major because of the strong presence of the technical professionals and substantial IT firms in this region. Moreover, the growing transformation of a traditional network, security workloads into computation with the help of virtualization of security and network activities is predicted to amplify the growth of the market-sub-segment during the analysis period.
Key Players of the Global Virtualization Security Market
1. IBM
2. Fortinet Inc.
3. Cisco Systems, Inc.
4. Citrix Systems, Inc.
5. Trend Micro
6. VMware
7. Sophos Ltd
8. Juniper Networks, Inc.
9. Broadcom Corporation
10. Check Point Software Technologies, Ltd
These players are widely working on the development of new business strategies such as mergers and acquisitions, product development to acquire leading positions in the global industry.
For instance, in August 2020, Intel, a leading American multinational corporation and technology company, has announced its collaboration with VMware, a renowned cloud computing and virtualization technology company. This collaboration has taken place on an integrated software platform virtualized Radio Access Networks (RAN). With this collaboration, the companies aimed to accelerate the rollout of LTE and future 5G networks.
Further, the report also presents important aspects including SWOT analysis, product portfolio, latest strategic developments, and the financial performance of the key players. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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