The global data center security market was valued at around $6.15 billion in 2016 and is expected to reach approximately $14.11 billion in 2022, according to a new report published by Zion Market Research. The data center security market size is growing at a CAGR of 14.85% between 2017 and 2022.
Increasing safety concerns for business and personal data and an increasing demand for cloud computing and data virtualization solutions are the factors that make the data center security market to grow lucratively over the forecast period.
The exponential growth of technologies like virtualization and cloud-based solutions enabled companies to deploy more data-heavy applications, while increasingly storing and handling confidential information and critical data. Several IT companies would be trying to consolidate their collection of server rooms and data centers into centralized regional states. The key concern would be the security of the data and hence there is a rising demand for the data center security market.
Software-Defined Data Center
One of the major trends that will gain traction to data center security market in Europe is increasing implementation of the software-defined data center (SDDC). SDDC is delivered as a service through virtualization of the physical infrastructure and would help in improving efficiency and reducing operational costs. It would also offer higher availability and better security and facilitate the delivery of workloads through the cloud.
Due to the need for better control over their operations, enterprises in Europe will start implementing SDDCs, which will, in turn, help to grow this market over the forecast period, according to the Zion Market Research report. Asia Pacific will be expected to be growing at the highest CAGR in the coming years due to development of data centers in economically emerging countries. The steadily growing demand for advanced security solutions in the emerging countries has propelled the market for data center security solutions in the Asia Pacific.
Cisco, Juniper Networks, EMC
North America is the biggest market for data center security solutions followed by the Asia Pacific. Prominent data center security vendors are eyeing on emerging economies, on account of the high adoption of cloud computing solutions, high technology adoption rates and increasing numbers of new data centers. Latin America and Middle East & Africa are expected considerable growth over the forecast period. Growth in new data center builds and service partnerships in the UAE and Saudi Arabia are driving the growth of the data center security market in the Middle East & Africa region.
Major players operating in the data center security market would include Symantec Corporation, Juniper Networks, IBM, Cisco Systems, Fortinet, CheckPoint Software Technologies, Dell, Trend Micro, Honeywell International, Citrix Systems, EMC, McAfee, and Hewlett-Packard Enterprise, among others.
The report “Data Center Security Market by Component (Solutions and Services) for Financial Services, IT and Telecom, Government, Education, Healthcare, Media & Entertainment and Other Application: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022” includes 13 tables & 23 figures spread over 110 pages. More info on the report can be found here.