New York, USA, May 04, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), "Data Center Security Market: By Component, By Data Center Type, By Vertical – Forecast to 2030”, the market is predicted to thrive substantially during the assessment era from 2022 to 2030 at a healthy CAGR of approximately 11.40% to attain a valuation of around USD 36.1 Billion by the end of 2030.
Data Center Security Market Key Players
Eminent industry players profiled in the global data center security market report include
- Hewlett Packard (U.S.)
- International Business Machines (IBM) Corporation (U.S.)
- Fortinet Inc. (U.S.)
- Honeywell International Inc. (U.S.)
- Schneider Electric SE (France)
- McAfee, Inc. (U.S.)
- Dell Inc. (U.S.)
- Robert Bosch GmbH (Germany)
- Check Point Software Technologies Ltd. (Israel)
- Cisco Systems, Inc. (U.S.)
- Intel Corporation (U.S.)
- Siemens AG (Germany)
- Trend Micro, Inc. (Japan)
- Tyco International (Ireland)
- Symantec Corporation (U.S.)
- Juniper Networks, Inc. (U.S.)
- Citrix Systems, Inc. (U.S.)
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Data Center Security Market Report Scope:
| Report Metrics | Details |
| Data Center Security Market Size by 2030 | USD 36.1 Billion (2030) |
| Data Center Security Market CAGR during 2022-2030 | 11.40% |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Drivers | The region also has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growing implementation cloud based technologies is another major factor driving the growth of Data Center Security market in the region. |
Adoption of Cloud Deployments and Virtualization to Boost Market Growth
The amount of data has significantly increased thanks to the adoption of virtualization & cloud deployments. Without adequate security measures, this data is susceptible to external attacks and can result in the loss or breach of personal information. Virtual machine escape, session riding, and weak encryption are the main cloud risks for data centers. The market for data centre security is predicted to develop as a result of increased need for better security solutions to lower the risk of various data breaches in the data centers.
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Opportunities
Increasing Adoption by Government and Defense Sectors to offer Robust Opportunities
Globally, public sectors and governments are placing a high priority on data center security & data privacy. To improve the effectiveness and dependability of data stored on servers, these industries use and rely heavily on IT and telecommunications infrastructures. Governments and other public institutions are utilizing data centre security measures more and more to safeguard data from hacker and intruder assaults as well as to increase their flexibility against unanticipated dangers like equipment failures and user mistake.
Restraints and Challenges
Piracy Issues to act as Market Restraint
Piracy issues, limited IT budgets, lack of awareness, lack of advanced infrastructure especially in underdeveloped economies, and availability of low cost substitutes may act as market restraints over the forecast period.
Market Segmentation
The global data center security market is bifurcated based on component, type, and vertical.
By vertical, BFSI will lead the market over the forecast period.
By data center type, large data center will domineer the market over the forecast period.
By components, solutions will spearhead the market over the forecast period.
COVID-19 Analysis
The value of security has grown dramatically during the coronavirus epidemic because there are unanticipated risks on the horizon that might destroy the corporate infrastructure and its system. Security is vital in normal times since it protects the firms from a cyber threat. Because of the Covid-19 outbreak, data usage increased since there were more users, which raised the need for bandwidth & storage space. Students, the government, & the corporate sector have all started adopting digital tools to run their businesses or pursue their careers. The Indian government is implementing programs like Digital India, stressing self-reliance and data safety through data localization, which is anticipated to increase the quantity of data within the nation and thus raise demand for cloud services and data centers. In addition, the Indian government intends to implement a data centre policy that will allow the establishment of data centre parks by the private sector, complete with incentive programs.
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Regional Analysis
North America to Command Data Center Security Market
The major shareholder in the data centre security sector has proven to be North America. The biggest market potential for data centre security exists in North America, which contributes to the region's continued growth. The APAC region comes next. Due to some of the recent technical developments and improvements, the US and Canada currently control the majority of the North American market. A growing number of businesses in this region are also in need of data centre security solutions and services. People are paying closer attention, and awareness is being raised about how crucial data is, particularly in business. All of the cutting-edge technologies that are currently available worldwide can be implemented faster in the region because to its well-established infrastructure. Also, the main driver of the expansion of data centre security market trends within this region is the expanding use of cloud-based technologies. Due to the widespread use of the cloud computing solutions & the increasing number of data centers in the region, North America now has the greatest market share and is predicted to expand at a respectable CAGR. Data protection is essential for businesses since cyber threats & data breaches can cause significant financial loss. As a result, strong regulations governing data breaches have been enacted, which is one of the major drivers boosting the market for data centre security. Also, the market for data centre security is expanding due to an increase in investment, the availability of data centre security solutions, & the development of new data centers.
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APAC to Have Admirable Growth in Data Center Security Market
The demand for data centers has increased dramatically in recent years, both in terms of the total capacity of data centre real estate as well as in the 4 major Asian Pacific nations. The leading Tier 1 data centre markets in the Asia Pacific area are Singapore, Sydney (Australia), Tokyo (Japan), and Hong Kong Special Administrative Region. India has a huge potential to become a data centre hub for the APAC and the whole world because of its quickly growing economy and high data needs. The Asia Pacific is becoming a preferred place for MNCs as Google, Microsoft, Amazon, and Equinix to locate its data centers. More companies and brands are moving into the Asia-Pacific market. As a result, this area needs data centre suppliers. The server market, IT infrastructure, and uninterruptible power supply industries are the three main sectors that today make Southeast Asia such an appealing market for data centre relocation.
Industry Updates
March 2023- Cisco has invested in a new data centre recently in Chennai to provide security over the cloud. Further to expanding data centers, Cisco is expanding its security portfolio with new risk-based capabilities for hybrid and multi-cloud settings in India.
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