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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