The virtualization security market is projected to grow at a Compound Annual Growth Rate (CAGR) of 15.6%
NEW YORK, Oct. 23, 2019 /PRNewswire/ --
The virtualization security market is projected to grow at a Compound Annual Growth Rate (CAGR) of 15.6% during the forecast period
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The global virtualization security market size 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. 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). However, lack of awareness about virtualization security and compatibility issues with legacy systems restrain the market growth.
Anti-malware solution segment is expected to have a significant market share during the forecast period
Malware is becoming an increasing concern in the virtual infrastructure.With the advent of worms, such as DejaBlue and IoT Linux, which attacks target users' devices, anti-malware in the guest OS is insufficient.
IDS/IPS solutions can detect and block some malware at the network level during and after infection.However, to fully back up guest OS anti-malware, virtualization security solutions must perform online and offline scanning and remediation of files and VMs.
Furthermore, unlike physical machines, there would are likely to be several many more dormant VMs than existing ones. Unless these dormant VMs are also scanned and remediated, they can introduce infections when booted.
Consulting services in the service segment is expected to grow at a significant CAGR during the forecast period
Consulting services provide knowledge and advice, in-depth product description, and solutions for critical issues.These services are provided by highly qualified industry experts, domain experts, and security professionals.
These professionals help organizations formulate virtualization security strategies, prevent revenue losses, minimize risks, understand the maturity of their security solutions, and enhance security in the existing IT systems. Consulting service providers guide companies in setting up advanced virtualization security policies to address their specific security requirements in a way feasible for them and understand new technologies that secure their enterprise business.
North America is expected to have the largest market size, and Asia Pacific is projected to grow at the highest rate during the forecast period
North America is expected to be the most significant contributor to the virtualization security market, with approximately 40% of the revenue generated from this region as of 2018.North America is expected to be the most mature region in the virtualization security market, as most of the vendors are located in the is region.
Various factors are expected to be driving the adoption of virtualization security solutions and services in this region.The factors include the rise of cybersecurity threats and the shift of focus from the traditional cloud security to virtualization security.
More than 60% of the revenue is said to be generated from large enterprises, whereas SMEs are estimated to be growing at a higher faster CAGR during the forecast period.The market has been steadily showing positive trends in the region, as several companies and industries are adopting virtualization security solutions and services to secure their applications virtually.
The key countries taken for analysis in North America include the US and Canada. The presence of key virtualization security market players in this region is expected to be the significant factor for behind the market growth. Some of the major vendors operating in this region include VMware, Juniper Networks, Symantec, Cisco, Fortinet, and IBM.
In the process of determining and verifying the market size of several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of the profiles of the primary participants is as follows:
• By Company: Tier 1 – 20%, Tier 2 – 55%, and Tier 3 – 25%
• By Designation: C-Level – 50%, Director Level – 25%, and Others – 25%
• By Region: North America – 45%, Europe – 25%, APAC – 20%, Latin America – 5%, Middle East and Africa – 5%
The virtualization security market includes various major vendors, such as Trend Micro (Japan), VMware (US), Juniper Networks (US), Fortinet (US), Sophos (UK), Cisco (US), IBM (US), Centrify (US), HyTrust (US), Check Point (Israel), Tripwire (US), HPE (US), Dell EMC (US), Intel (US), CA Technologies (US), Symantec (US), StrataCloud (US), ESET (Slovakia), McAfee (US), and Huawei (China).
Research Coverage
The report includes an in-depth competitive analysis of the key players in the virtualization security market along with their company profiles, recent developments, and key market strategies. The report segments the virtualization security market by component (solution and services), deployment, organization size, end user (service providers and enterprises), and region.
Key Benefits of Buying the Report:
The virtualization security market is segmented based on component (solution and services), deployment, organization size, end-user (service providers and enterprises), and region.
The report is expected to help the market leaders/new entrants in the virtualization security market in the following ways:
1. The virtualization security market revenue stream has been estimated based on the revenues generated by vendors, offering virtualization security solutions and associated services, inclusive of professional services (consulting, integration and design, support and maintenance, and training and education services), and managed services. The report provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers are further divided into deployment, organization size, end-user, and regions.
2. The report helps the stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
3. The report is expected to help the stakeholders understand the competitors and gain more insights to improve their market position. The competitive landscape section includes the competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.
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