Rapid automation across IT, BFSI, government, and healthcare sector sectors is propelling the growth of the virtualization security market.

PORTLAND, PORTLAND, OR, UNITED STATES, November 10, 2023 /EINPresswire.com/ — As per the report, the global virtualization security industry was pegged at $1.62 billion in 2020, and is expected to reach $6.29 billion by 2030, growing at a CAGR of 14.6% from 2021 to 2030.

The global virtualization security market share is expected to witness considerable growth, owing to an increase in demand for cybersecurity, especially in Asia-Pacific and LAMEA, owing to the rise in the adoption of hybrid cloud and 5G network technologies across IT & telecommunication and government & defense sector in these regions.

Virtualization security is the collective procedure, measures, policy, and process intended to ensure the protection of a virtualized infrastructure and environment. Virtualization security is an extensive concept that includes various methods to implement, monitor, evaluate, and manage security within a virtualized environment.

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Further, virtualization security can centralize the tasks while advancing scalability and capability, lead to the consolidation of the network environment and ease of management. Likewise, virtualization security acts as a security barrier installed to ensure secure access to a network as it can provide security services and traffic isolation within a cloud infrastructure, along with a customized firewall. Moreover, rapid automation across IT, BFSI, government, and healthcare sector sectors are propelling the growth of the virtualization security market.

Surge in cybersecurity concerns, an increase in the adoption of bring your own device and internet of things, and rise in adoption of virtual applications across prime enterprises have boosted the growth of the global virtualization security market. However, lack of awareness of virtualization security and skilled professionals hinder market growth. On the contrary, surge in government regulations supporting virtualization security is expected to open lucrative opportunities in the future.

The growth of global virtualization security is majorly driven by surge in concerns related to cybersecurity solution across prime enterprises and rise in adoption of bring-your-own-device and Internet of Things trends. However, lack of awareness of virtualization security and skilled professionals is acting as a prime restraint of the global market. On the contrary, rise in the adoption of virtual applications across prime enterprises coupled with a surge in government regulation are anticipated to provide lucrative opportunities for the virtualization security industry during the forecast period.

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Region-wise, the market was dominated by North America in 2020, and is expected to retain its position during the forecast period. The adoption of cloud computing solutions at the healthcare& life science and BFSI is expected to propel the growth of the virtualization security industry in this region. However, Asia-Pacific is expected to witness a significant growth rate during the forecast period, to the growing penetration of mobility and early adoption of AI-driven analytics and rising virtualization security market application in business intelligence.

Based on the deployment model, the cloud segment is projected to portray the highest CAGR of 15.8% during the forecast period, due to benefits such as increased flexibility, scalability, and ease of administration. However, the on-premise segment dominated the global battery materials market in 2020, contributing to nearly three-fifths of the global virtualization security market, due to rise in the adoption of virtualization security solutions across on-premise platforms among strongly regulated industries.

Based on component, the solution segment held the largest share in 2020, accounting for more than three-fourths of the global virtualization security market, due to rise in AI-powered electronic applications and surge in trend toward data center applications in organizations. However, the service segment is expected to register the highest CAGR of 16.4% during the forecast period, owing to increase in trends toward cybersecurity.

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Covid-19 scenario:

• The Covid-19 pandemic positively affected the market due to rise in demand for virtualization security solutions among small and medium enterprises for protecting company’s data.

• Moreover, the global adoption of work-from-home increased the need to detect and block malware and reduce cyber-attacks and data theft issues.

• The rise in demand for AI and machine learning-powered solutions increased the need for the virtualization security market. However, the lack of skilled workforce hampered the market.

The key players profiled in the virtualization security market analysis are Trend Micro Incorporated, IBM Corporation, Juniper Networks, Inc., Dell EMC, Intel Corporation, Microsoft Corporation, VMware, Inc., Broadcom, Inc., Sophos Ltd and McAfee, LLC. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the virtualization security industry.

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