Dublin, July 28, 2023 (GLOBE NEWSWIRE) -- The "Data Center Logical Security Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The global data center logical security market is poised for significant growth, with a projected Compound Annual Growth Rate of 9.5% during the forecast period. The increasing demand for data center security solutions is fueled by rising data traffic, a surge in cyber threats, and the rapid adoption of virtualized data centers.
Key Highlights:
Data center security plays a crucial role in safeguarding organizational data against unauthorized access and security breaches. As internet traffic continues to escalate, data centers have become pivotal in meeting the surging demands during the COVID-19 pandemic.
Costs for data center security have soared as large companies and service providers upgrade their facilities to handle escalating data volumes and a deluge of cyberattacks. Over the past few years, data center security solutions have witnessed a surge in popularity and rapid growth.
The data center security market is primarily driven by advancements in technology, the increase in data traffic, the rise of virtualized data centers, and the growing cyber threats. However, challenges such as high costs of alternative solutions, limited awareness, and an abundance of options are hampering its growth.
Manufacturers and vendors are increasingly exploring emerging economies, where cloud computing solutions, new technologies, and data center construction are on a rapid upward trajectory, presenting abundant opportunities in the market.
Global Data Center Logical Security Market Trends:
Increasing Demand for Access Control and Identification Solutions
Companies are investing significantly in Identity and Access Management (IAM) solutions to address tasks beyond human capabilities, especially due to the risk of cyberattacks from unknown hackers and malicious employees.
Identity management cybersecurity breaches, orchestrated by organized crime, state-sponsored militaries, or other groups, can have detrimental effects on staff productivity, IT networks, and a company's reputation. The need for new levels of identity and access management solutions is evident.
The expansion of data in the cloud, coupled with a mobile and agile workforce, has driven businesses to seek data center logical security solutions to protect their cloud-stored data. AI and machine learning algorithms are increasingly being adopted in these solutions to bolster security measures.
The adoption of machine learning technology in IAM is anticipated to enhance authentication processes, particularly when combined with physical and behavioral biometrics for geolocation data.
European Market Witnessing High Adoption
Europe, led by countries like Germany, the UK, and the Netherlands, holds a significant share in the global data center logical security market. Despite economic uncertainties, demand for data centers remains robust in the region, driving expansion and construction.
In response to the growing demand for data centers, companies are investing and expanding in Europe, leading to an increased need for logical security solutions.
Recent developments in the region include TikTok establishing a data center in Dublin, Ireland, to serve UK and EEA users, reinforcing data protection measures through various safeguards.
Data Center Logical Security Industry Overview:
The data center logical security market exhibits a medium level of concentration, with multiple players vying for prominence. Key strategies employed by these players include product launches, geographical expansion, acquisitions, and research and development activities.
Prominent players in the market include Cisco, IBM, HP, Dell, McAfee, Inc., and Juniper Networks, among others.
Noteworthy expansion initiatives include Microsoft's new data center in Qatar, providing consumers and organizations access to cloud services, and IBM's announcement of version 11.5.8 of Db2 to be released first in the cloud, featuring improvements in performance and backup and restoration capabilities.
The global data center logical security market is expected to experience robust growth in the coming years, driven by escalating data volumes and an increasing number of cyber threats worldwide. As companies prioritize data protection and adopt cloud services, the demand for secure and reliable data center logical security solutions is set to soar.
A selection of companies mentioned in this report includes
- IBM Corporation
- Cisco Systems Inc.
- Hewlett-Packard Enterprise Co.
- Trend Micro Inc.
- McAfee Inc.
- Fortinet Inc.
- VMware Inc.
- Checkpoint Software Technologies Ltd.
- Juniper Networks Inc.
- Dell
For more information about this report visit https://www.researchandmarkets.com/r/cbdh2o
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