According to a research report "Virtualization Security Market by
Component (Solution (Virtual Infrastructure & Lifecycle Protection) &
Services (Professional & Managed)), Deployment, Organization Size, End User
(Service Providers & Enterprises), and Region - Global Forecast to 2024",
published by MarketsandMarkets, the global virtualization security market is
expected to grow from USD 1.3 billion in 2019 to USD 2.7 billion by 2024, at a
Compound Annual Growth Rate (CAGR) of 15.6% during the forecast period. The
significant aspects of driving the virtualization security market include
increasing adoption of virtual applications across SMEs and large enterprises.
Driven by multiple factors, such as flexibility, cost-saving, and availability,
an increasing number of companies are transferring their data to the cloud
(though this is also exposing these companies to various risks associated with
virtualization). Some of the other drivers for this market are the rising
incidents of cyberattacks and increase in stringent regulations and compliance
requirements. The growth of the global virtualization security market is
attributed to the growing need for virtualization security to address privacy
requirements and compliance concern driven security spending.
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Virtual Infrastructure protection segment to
grow at the highest CAGR during the forecast period
Virtualization security
led to an increase in the reliability of virtual network environment and the
underlying infrastructure, which is essential for growing cloud services.
Virtualization security helps to improve business competitiveness by increasing
enterprise business efficiency and user productivity. Virtual Infrastructure
protection refers to the security configurations and hybrid appliances in a
virtualized environment. With the use of this solution, enterprises can lock
down configuration of the hypervisor to prevent access to any unused ports.
Moreover, this solution limits the potential risk of attack through the bypass
of the management console and direct connection to one of the hypervisors
control points. Furthermore, this type of solution provides a central control
point for authenticated access to all hypervisor and management control points,
and hence, organizations are deploying virtualization security solutions.
Managed services to grow 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 are rapidly evolving. Therefore, protecting
business-critical applications is getting tougher every day. This task becomes
even harder when an organization does not have a dedicated IT security team or
experts. However, due to high costs and resource constraints, organizations
often outsource this task to MSSPs. The MSSPs offer round-the-clock visibility
into the IT infrastructure and provide security assessment and monitoring of
applications, systems, and devices. The demand for managed services is on the
rise due to growth in large-scale networks and increase in IoT and cloud
applications in organizations.
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Asia Pacific to grow at the highest CAGR in
the market during the forecast period
The APAC region is expected to experience
extensive growth opportunities during the forecast period. With the increasing
adoption of cloud technologies, virtualization and the increasing amount of
business processes, there has been a significant rise in the adoption of
virtualization security solutions and services in this region. Increasing focus
and investments in areas such as virtualized environment, quality, and advanced
security techniques is set to drive the growth of the virtualization security
market. Increasing adoption of virtualization security for cloud-based
applications has created a demand for full-fledged virtualization security
solutions in the region. The APAC region demonstrates a combination of high
growth, developing economies, and mass adoption of BYOD and IoT trends. Thus,
this region is estimated to be growing at the fastest CAGR during the forecast
period.
Various growth strategies have been adopted
by the major players 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 are Trend 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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