New York, United States, May 31, 2023 (GLOBE NEWSWIRE) -- The Global Data Center Virtualization Market Size is to Grow from USD 11.23 billion in 2022 to USD 38.37 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 13.07% during the projected period. The rising adoption of virtualization services for various services such as advisory & implementation services, optimization services, managed services, technical support services, and others in several industries including BFSI, education, government, IT & telecommunication, healthcare, media & entertainment, retail & SCM, manufacturing & automotive, and others is expected to boost the demand for the data center virtualization market during the forecast period.
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Data center virtualization transforms current data centers into virtual data centers that use a cloud-based computing system to provide enterprises with access to data and applications from anywhere. Data center virtualization has several advantages, including better resource allocation, lower energy consumption, and lower costs. Furthermore, by allowing IT resources to be provisioned and deployed as needed, data center virtualization can improve dependability and efficiency. Data center virtualization has several advantages, including better resource allocation, lower energy consumption, and lower costs. Furthermore, by allowing IT resources to be provisioned and deployed as needed, data center virtualization can improve dependability and efficiency. However, a lack of knowledge of virtualization technology among enterprises will be a major impediment to the data center virtualization market over the forecast period.
Browse key industry insights spread across 200 pages with 115 market data tables and figures & charts from the report on "Global Data Center Virtualization Market Size, Share, and COVID-19 Impact Analysis, By Offering (Software, Service), By Type (Advisory & Implementation Services, Optimization Services, Managed Services, Technical Support Services), By Industry Verticals (BFSI, Education, Government, IT & Telecommunication, Healthcare, Media & Entertainment, Retail & SCM, Manufacturing & Automotive, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The IT & telecommunication segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of industry verticals, the global data center virtualization market is segmented into BFSI, education, government, IT & telecommunication, healthcare, media & entertainment, retail & SCM (Supply Chain Management), manufacturing & automotive, and others. Among these, IT & telecommunication are dominating the market with the largest revenue share of 57.2% over the forecast period. The advent of developing technologies such as 5G, NFC, and others is causing a revolutionary shift in the IT and telecom industries. Furthermore, data center virtualization has the potential to improve service levels while decreasing costs.
The advisory & implementation services segment is witnessing significant CAGR growth over the forecast period.
On the basis of type, the global data center virtualization market is segmented into advisory & implementation services, optimization services, managed services, and technical support services. Among these, advisory & implementation services are witnessing significant CAGR growth over the forecast period. Advisory and implementation services the technique of abstracting applications and workloads from the underlying physical infrastructure is known as data center virtualization.
The software segment is dominating the market with the largest revenue share over the forecast period.
On the basis of offering, the global data center virtualization market is segmented into the software and services. Among these, the software segment is dominating the market with the largest revenue share of 58.6% over the forecast period. The market is growing as the use of virtualization software in data centers, such as server, network, and storage virtualization, grows.
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North America dominates the market with the largest market share over the forecast period.
North America will dominate the market with a market share of more than 38.7% during the projected period, owing to increased industrialization and widespread usage of cloud-based solutions in this region. This region also has a high level of cloud adoption, with cloud service providers strengthening and expanding their infrastructure through the integration of virtualization applications and services. On the contrary, Asia Pacific is predicted to grow the fastest during the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Data Center Virtualization Market include Adobe Systems, VMware, Cisco Systems, Microsoft, HCL, AT&T, Citrix Systems, Fujitsu, Dell Inc., Nutanix, HPE, IBM, Huawei, Radiant Communications, Amazon Web Services, and among others.
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Recent Developments
On May 2023, Juniper Networks, Inc. announced the availability of a cloud-based Access Assurance Service to assist network managers, simplify IT operations, and assure a better user experience through automation and increased network resiliency. The AI-powered automation solution streamlines network access by allowing for quick and easy device provisioning. It eliminates manual settings with a one-click setup. Its distinct microservices-based cloud architecture increases resiliency and scalability while ensuring dependable and low latency access control.
In August 2022, Verge.io, formerly known as Yottabyte, has added GPU virtualization to its virtual data-center software, making it possible to partition out GPU-based processing tasks the same way a hypervisor divides up a CPU. Hyperconverged infrastructure (HCI) builds a tightly integrated and configured IT data center setup from standard server, storage, and networking servers with everything virtualized.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Data Center Virtualization Market based on the below-mentioned segments:
Data Center Virtualization Market, Industry Verticals Analysis
- BFSI
- Education
- Government
- IT & Telecommunication
- Healthcare
- Media & Entertainment
- Retail & SCM
- Manufacturing & Automotive
- Others
Data Center Virtualization Market, Type Analysis
- Advisory & Implementation Services
- Optimization Services
- Managed Services
- Technical Support Services
- Others
Data Center Virtualization Market, Offering Analysis
- Software
- Services
Data Center Virtualization Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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