According to a new market research report "Virtualization Security Market by Component (Solution (Virtual Infrastructure & LifecycleProtection) & Services (Professional & Managed)), Deployment,Organization Size, End User (Service Providers & Enterprises), and Region -Global Forecast to 2024", published by MarketsandMarkets, the global VirtualizationSecurity Market is expected to grow from USD 1.3 billion in 2019 to USD 2.7billion by 2024, at a Compound Annual Growth Rate (CAGR) of 15.6% during theforecast period.
The significant aspects of driving the VirtualizationSecurity Market include increasing adoption of virtual applications across SMEsand large enterprises. Driven by multiple factors, such as flexibility,cost-saving, and availability, an increasing number of companies aretransferring their data to the cloud (though this is also exposing thesecompanies to various risks associated with virtualization). Some of the otherdrivers for this market are the rising incidents of cyberattacks and increasein stringent regulations and compliance requirements. The growth of the global VirtualizationSecurity Market is attributed to the growing need for virtualization securityto address privacy requirements and compliance concern driven securityspending.
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Virtual Infrastructureprotection segment to grow at the highest CAGR during the forecast period
Virtualization security led to an increase in the reliabilityof virtual network environment and the underlying infrastructure, which isessential for growing cloud services. Virtualization security helps to improvebusiness competitiveness by increasing enterprise business efficiency and userproductivity. Virtual Infrastructure protection refers to the securityconfigurations and hybrid appliances in a virtualized environment. With the useof this solution, enterprises can lock down configuration of the hypervisor toprevent access to any unused ports. Moreover, this solution limits thepotential risk of attack through the bypass of the management console and directconnection to one of the hypervisors control points. Furthermore, this type ofsolution provides a central control point for authenticated access to allhypervisor and management control points, and hence, organizations aredeploying virtualization security solutions.
Managed services togrow at a higher CAGR during the forecast period
Managed services mostly revolve around the term“outsourcing.” Technologies such as big data analytics, blockchain, and AI arerapidly evolving. Therefore, protecting business-critical applications isgetting tougher every day. This task becomes even harder when an organizationdoes not have a dedicated IT security team or experts. However, due to highcosts and resource constraints, organizations often outsource this task toMSSPs. The MSSPs offer round-the-clock visibility into the IT infrastructureand provide security assessment and monitoring of applications, systems, anddevices. The demand for managed services is on the rise due to growth inlarge-scale networks and increase in IoT and cloud applications inorganizations.
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Asia Pacific to grow atthe highest CAGR in the market during the forecast period
The APAC region is expected to experience extensive growthopportunities during the forecast period. With the increasing adoption of cloudtechnologies, virtualization and the increasing amount of business processes,there has been a significant rise in the adoption of virtualization securitysolutions and services in this region. Increasing focus and investments inareas such as virtualized environment, quality, and advanced securitytechniques is set to drive the growth of the Virtualization Security Market.Increasing adoption of virtualization security for cloud-based applications hascreated a demand for full-fledged virtualization security solutions in theregion. The APAC region demonstrates a combination of high growth, developingeconomies, and mass adoption of BYOD and IoT trends. Thus, this region isestimated to be growing at the fastest CAGR during the forecast period.
Various growth strategies have been adopted by the majorplayers to increase their market presence, such as mergers and acquisitions,partnerships and collaborations, business expansions, and product developments.Some of the major technology vendors in the Virtualization Security Market areTrend Micro (Japan), VMware (US), Juniper Networks (US), Fortinet (US), Sophos(UK), Cisco (US), IBM (US), Centrify (US), HyTrust (US), Check Point (srael),Tripwire (US), HPE (US), Dell EMC (US), Intel (US), CA Technologies (US),Symantec (US), StrataCloud (US), ESET (Slovakia), McAfee (US), and Huawei(China).
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