Dublin, Sept. 25, 2024 (GLOBE NEWSWIRE) -- The "Data Center Logical Security Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The data centre logical security market is expected to grow at a CAGR of 7.04%, reaching a market size of US$6.649 billion in 2029 from US$4.684 billion in 2024.
The data center's logical security includes password access, user identification, access rights, authenticating, etc., which safeguards software for an organization's system. Additionally, the growing adoption of cloud computing and visualization solutions worldwide drives the global data centre logical security market's growth in the forecast period. Furthermore, government and industry regulations, along with an increasing number of data centres, are fueling the market demand. 
Increasing economic growth in emerging economies is further impetus for the market to grow during the forecast period. To optimize the efficiency of business processes, many IT organizations are focused on consolidating and restructuring data centres to increase data storage capacity and provide high-end security. Furthermore, growing initiatives to prevent accidental or intentional data manipulation in data centres are further driving the market demand for data centre logical security.
Hence, this is increasing IT investments in the development of IT security infrastructure to meet the growing demand from various end-user industry verticals. Moreover, the global data centre logical security market's ability to deal with security breaches and protect sensitive data from unauthorized users is leading to drastic market growth in the forecast period and the upcoming years.
Growing data security concerns are driving the demand for data centre logical security solutions, fueling the market growth in the forecast period.
As in the cloud, there is a multi-tenant environment and a shared network infrastructure. This calls for the potential to access a customer's data, which is a risky procedure. However, there are safe harbor and privacy laws to protect the data, but it is still accessible to a malicious hacker attack or an accident that would lead to data leakage. Significant efforts have been made to send data in an encrypted format, but one has to make sure before leaving its premises. Hence, data privacy and security concerns drive the demand for the data centre logical security market in the forecast period and the upcoming years.
Moreover, the IT network, employee morale, and the company's reputation can all suffer greatly from an identity management cybersecurity breach brought on by organized crime, state-sponsored militaries, or other entities. Identity and access management solutions need to advance in response to these threats.
The growing adoption of a cloud-based solution propels the data center logical security market growth in the forecast period.
There has been a continuous evolution in the era of information technology. These days executives are looking for more ways to explore cloud technology to strategize their business goals. The evolution of cloud-based services started from providing personal storage systems to an organization's storage systems, thus providing large organizations with an opportunity to connect better. Moreover, more than fifty percent of organizations are adopting platforms, applications, and services enabled by the cloud, pushing the digital revolution ahead.
The growth in cloud computing spending, which is also expected to be six times more than IT spending through the forecast period, is further poised to drive market growth. In addition, key players like Google Apps, SalesForce, and other companies are gearing up to enter the competition, influencing the massive growth in cloud-based solutions.
Hence, with the extensive use of a cloud-based solution, robust cloud security is necessary. This is because of the constant security threats risking cloud computing and making it vulnerable to malicious attacks. Thus, this has created a strong need for the logical security market to enter for data protection while on the cloud, further fueling the global data center logical security market growth in the forecast period.
Increasing number of cyber attacks
The market's growth rate is being slowed by increased attacks brought on by many organizations' ignorance of cyber hazards. Additionally, the frequency of ransomware attacks is alarmingly rising, posing a new threat to security companies. Because of several factors, the threat grows along with the number of data centers. However, a lack of knowledge about security features like data center logical security is expected to impede the market's growth.
North America is expected to hold a significant share during the forecast period
The rapid expansion of data centers drives demand for data center logical security in North America. The North American data center market is driving growth across the entire data center industry thanks to early access to and adoption of cutting-edge technology and investments from colocation service providers, hyperscale data center operators, corporations, and government agencies. This area, which serves as an incumbent, is the first to receive any new technological developments related to data centres.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $4.68 Billion |
| Forecasted Market Value (USD) by 2029 | $6.64 Billion |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
Companies Featured
- Bosch Sicherheitssysteme GmbH
- Check Point Software Technologies Ltd.
- Trend Micro Incorporated
- Telecom Italia (Italtel S.p.A.)
- Hewlett Packard Enterprise (Juniper Networks, Inc.)
- VMware, Inc
- Fortinet, Inc.
- Intel Corporation
- IBM
- Cisco Systems, Inc.
Data Centre Type
- Small
- Medium
- Large
Service Type
- Security Consulting Services
- Managed Security Services
Solution Type
- Threat and Service Type Security Solutions
- Access Control and Compliance
- Data Protection Solutions
End-User
- BFSI
- Healthcare
- Government
- Energy
- Retail
- Others
Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Italy
- Others
- Middle East and Africa
- UAE
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
For more information about this report visit https://www.researchandmarkets.com/r/6zx0ag
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