Global Virtualization Security Market - Segmented by Component (Hardware, Software), Solution (Critical System Protection, Data Loss Prevention, Web Gateway), Services (Planning & Designing, Deployment, Support & Maintenance), End-user Application (Cloud Service Provider, IT & Telecom), and Region - Growth, Trends, and Forecast (2018 - 2023)
The virtualization security services market is expected to register a CAGR of 15.1%, during the forecast period (2018 - 2023). The scope of the report is limited to the type of virtual security component, solution, and services used in various end-user applications. The regions considered in the scope of the report include - North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Increasing security concerns and increase in network virtualization are major factors driving the growth of the market, where as high costs of security solution is inhibiting its growth rate.
Increase in Network Virtualization
Network virtualization has gained popularity because of its scalability, which is way beyond vLAN. Moreover, deployment of network virtualization does not require any change in existing physical network, the main factor contributing to its popularity. Network virtualization is being adopted by companies as it offers a bunch of benefits, such as disaster recovery, easier migration to cloud, reduction in capital and operating expenditure and many more. The companies, which have deployed this technology are finding easier to manage files, images, and programs, among others. As the market of this technology is growing, more and more data will be on cloud, thus, boosting the demand of virtualization security market.
North America to Maintain its Dominance During the Forecast Period
Virtualization security market is growing at rapid rate in North America. Increased demand of identity and access management (IAM) is propelling the growth of virtualization security market in this region. Moreover, most of the cloud service providers are headquartered in this region, which requires virtualization security, thus, boosting the demand of this market.
Key Developments in the Market