Data Center Virtualization Market Size Worth $23.14 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Oct. 31, 2022 /PRNewswire/ -- The global data center virtualization market size is expected to reach USD 23.14 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 16.0% from 2022 to 2030. The necessity for centralized and unified management of data centers and the growing need to lower operating costs for businesses and increase business agility are major drivers of the market.

Key Industry Insights & Findings from the report:

• By component, the software segment accounted for the largest revenue share of over 70.0% in 2021 and is anticipated to maintain its dominance over the forecast period. Surged use of virtualization software owing to its benefits such as better disaster recovery solutions, reduced hardware costs, enhanced performance, increased IT agility, and quick availability of resources is contributing to the market growth.
• The service segment is expected to register the highest growth rate of 16.8% during the forecast period as these services provide organizations with an understanding of the transformation roadmap.
• In terms of organization size, the large enterprise segment dominated the market and captured a revenue share of over 70.0% in 2021. Early and rapid adoption of data center virtualization software and services by large enterprises to handle large volumes of data is propelling segment growth. The small and medium-sized enterprise segment is expected to exhibit the highest growth rate of 16.5% during the forecast period.
• In terms of the end-use industry, the IT & telecommunication segment accounted for the largest revenue share of over 60.0% in 2021 and is anticipated to maintain its dominance over the estimated timeframe. The rapidly growing IT and telecom industry across the globe is creating more demand for virtual data centers.
• North America held the largest revenue share of over 40.0% in 2021 and is expected to retain its position over the forecast period. The presence of various leading market players in the region is a major factor contributing to the market growth.
• Asia Pacific is expected to grow at the highest rate of 17.3% during the forecast period owing to the growth of end-use industries and a rise in investments in cloud technologies.

Read 100-page full market research report, "Data Center Virtualization Market Size, Share & Trends Analysis Report By Component (Software, Service), By Organization Size (SMEs, Large Enterprises), By End Use Industry, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Data Center Virtualization Market Growth & Trends

It is anticipated that factors including the growing demand to reduce data center complexity, rising spending on data center technology, growing demand for improved network security, and adoption of optimization services will also contribute to the market growth.

Furthermore, COVID-19 has increased the penetration of digital transformation. Increasing adoption of digital transactions, smart devices, and IoT, rising automation scope in manufacturing industries via industry 4.0 technologies, and potential for huge data generation by the sectors such as BFSI, education, healthcare, IT & telecom, and media & entertainment will boost the growth of data centers, thereby driving the market for data center virtualization.

Data Center Virtualization Market Segmentation

Grand View Research has segmented the global data center virtualization market based on component, organization size, end-use industry, and region:

Data Center Virtualization Market - Component Outlook (Revenue, USD Million, 2017 - 2030)

• Software
• Service

Data Center Virtualization Market - Organization Size Outlook (Revenue, USD Million, 2017 - 2030)

• Small & Medium-sized Enterprises (SMEs)
• Large Enterprises

Data Center Virtualization Market - End-use Industry Outlook (Revenue, USD Million, 2017 - 2030)

• BFSI
• IT & Telecommunication
• Manufacturing & Automotive
• Government
• Healthcare
• Education
• Retail & SCM
• Media & Entertainment
• Others

Data Center Virtualization Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Italy
• France
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA

List of Key Players of Data Center Virtualization Market

• VMware, Inc.
• Microsoft Corporation
• Citrix Systems, Inc.
• Cisco Systems, Inc.
• Fujitsu
• Radiant Communications Corp.
• Hewlett Packard Enterprise Development LP
• AT&T
• Huawei Technologies Co., Ltd.
• HCL Technologies Limited
• IBM

Check out more related studies published by Grand View Research:

• Service Virtualization Market - The global service virtualization market size is expected to reach USD 1.69 billion by 2025, according to a new study by Grand View Research, Inc., progressing at a CAGR of 17.6% during the forecast period. Increasing adoption of digitization by enterprises to automate business processes is one of the key trends stimulating market growth.
• Virtual Reality Market - The global virtual reality market size is expected to reach USD 87.0 billion by 2030, according to the latest report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.0% from 2022 to 2030. The rapid penetration of Head-Mounted Display (HMD) in various industries, particularly in entertainment and gaming, has led to significant market growth.
• Virtual Prototype Market - The global virtual prototype market size is estimated to reach USD 861.7 million by 2025, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 19.4% over the forecast period. Virtual prototyping tools enable faster product development, cost savings, and reduction in time to market.

Browse through Grand View Research's  Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc