According to a new report published by Allied Market Research, the global virtualization security market size was valued at $1.62 billion in 2020, and is projected to reach $6.29 billion by 2030, registering a CAGR of 14.6% from 2021 to 2030.
Virtualization security is the collective procedure, measures, policy, and process intended to ensure the protection of a virtualized infrastructure and environment. Virtualization security is an extensive concept that includes various methods to implement, monitor, evaluate, and manage security within a virtualized environment. Further, virtualization security can centralize the tasks while advancing scalability and capability, lead to the consolidation of the network environment and ease of management.
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Likewise, virtualization security acts as a security barrier installed to ensure secure access to a network as it can provide security services and traffic isolation within a cloud infrastructure, along with a customized firewall. Moreover, rapid automation across IT, BFSI, government, and healthcare sector sectors are propelling the growth of the virtualization security market.
The growth of the global virtualization security is majorly driven by surge in concerns related to cybersecurity solution across prime enterprises and rise in adoption of bring your own device and Internet of Things trends. However, lack of awareness of virtualization security and skilled professional is acting as a prime restraint of the global market. On the contrary, rise in adoption of virtual application across prime enterprises coupled with surge in government regulation are anticipated to provide lucrative opportunities for the virtualization security industry during the forecast period.
Virtualization Security Market Segmentation Review:
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.
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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Region-wise, the market was dominated by North America in 2020, and is expected to retain its position during the forecast period. The adoption of cloud computing solution at the healthcare& life science and BFSI is expected to propel the growth of the virtualization security industry in this region. However, Asia-Pacific is expected to witness significant growth rate during the forecast period, to the growing penetration of mobility and early adoption of AI-driven analytics and rising virtualization security market application in business intelligence.
Emergence of COVID-19 has significantly increased growth of the cybersecurity market, subsequently increasing demand for virtualization security technology across the globe. However, partial, or complete lockdown in various regions has significantly impacted growth of the virtualization security market, owing to lack of availability of a skilled workforce during the pandemic. Moreover, rise in investments from various prime industries is expected to hamper market growth in the coming years. Besides, the IT & telecommunication sector has witnessed prominent growth during and post-pandemic for the virtualization security market.
KEY FINDINGS OF THE STUDY:
- By component, the solution segment accounted for the largest virtualization security market share in 2020.
- By deployment model, the on-premise segment accounted for the largest virtualization security market size in 2020.
- Region wise, North America generated highest revenue in 2020
Major Virtualization Security Market Players
- Trend Micro Incorporated
- Juniper Networks, Inc.
- IBM Corporation
- Intel Corporation
- Dell EMC
- VMware, Inc.
- Microsoft Corporation
- Sophos Ltd.
- Broadcom, Inc.
- McAfee, LLC.
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