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. However, lack of awareness of virtualization security and skilled professionals hinder the market growth. On the contrary, surge in government regulations supporting virtualization security is expected to open lucrative opportunities in the future.
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The global virtualization security market is segmented into type, organizational size, deployment model and industry vertical. On the basis of type, the market is bifurcated into solution and service. The organization size covered in the study includes small & medium enterprises and large enterprises. As per deployment model the, market is bifurcated into on-premise and cloud. By industry vertical, the market is categorized into BFSI, government & defense, IT & telecommunication, healthcare & life sciences, retail, manufacturing, education, and others.
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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.
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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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.
The key players profiled in the virtualization security market analysis are Trend Micro Incorporated, IBM Corporation, Juniper Networks, Inc., Dell EMC, Intel Corporation, Microsoft Corporation, VMware, Inc., Broadcom, Inc., Sophos Ltd and McAfee, LLC. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the virtualization security industry.
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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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