Surge in government regulations supporting virtualization security is expected to open lucrative opportunities in the future. Surge in cybersecurity concerns, increase in adoption of bring your own device and internet of things, and rise in adoption of virtual applications across prime enterprises have boosted the growth of the global virtualization security market.
Key industry players such as: Trend Micro Incorporated, IBM Corporation, Juniper Networks, Inc., Dell EMC, Intel Corporation, Microsoft Corporation, VMware, Inc., Broadcom, Inc., Sophos Ltd and McAfee, LLC.
The global virtualization security market was pegged at $1.62 billion in 2020, and is expected to reach $6.29 billion by 2030, growing at a CAGR of 14.6% from 2021 to 2030.
Based on component, the solution segment held the largest share in 2020, accounting for more than three-fourths of the global virtualization security market, due to rise in AI-powered electronic applications and surge in trend toward data center applications in organizations. However, the service segment is expected to register the highest CAGR of 16.4% during the forecast period, owing to increase in trends toward cybersecurity.
The global virtualization security market across North America held the lion’s share in 2020, accounting for nearly two-fifths of the market, as the region is the most dominant market for the virtualization security industry and home to major market players that offer advanced solutions. However, the market across Asia-Pacific is expected to register the highest CAGR of 16.5% during the forecast period, due to presence of prime players in the market and increase in penetration of AI-powered electronic equipment in the region.
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On the basis of deployment model, the cloud segment is projected to portray the highest CAGR of 15.8% during the forecast period, due to benefits such as increased flexibility, scalability, and ease of administration. However, the on-premise segment dominated the global battery materials market in 2020, contributing to nearly three-fifths of the global virtualization security market, due to rise in adoption of virtualization security solutions across on-premise platforms among strongly regulated industries.
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Covid-19 scenario:
- The Covid-19 pandemic positively affected the market due to rise in demand for virtualization security solutions among small and medium enterprises for protecting company’s data.
- Moreover, the global adoption of work from home increased the need to detect and block malware and reduce cyber-attacks and data theft issues.
- The rise in demand for AI and machine learning-powered solutions increased the need for the virtualization security market. However, the lack of skilled workforce hampered the market.
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Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
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