Pune, India, September 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Data Center Virtualization Market.
The global data center virtualization market could reach approx. value of USD 10 Billion by 2023, estimates Market Research Future (MRFR). It adds that the market is expected to garner a healthy CAGR of 8% during the forecast period (2017-2023).
Key Drivers and Primary Barriers
In the constantly evolving world of technology, data center virtualization market can expect to see robust growth prospects during the review period. With the aim of reducing hardware dependency, the adoption rate of data center virtualization applications has risen significantly in recent years.
Factors including need to bring down operational costs and enhance business agility of enterprises work in favor of the data center virtualization market. The demand for unified and centralized management of data centers along with surge in data center complexities also drives the market growth.
Furthermore, easy backup of data, as well as reduction in heat generation from the server, boosts the market demand to a great extent. Faster redeployment is another factor that helps augment product demand in the market.
The worldwide data center virtualization market has been categorized depending on the type, organization size and vertical.
The type segment includes type 1 hypervisor, type 2 hypervisor, guest machine, paravirtualization tools, and host machine. Guest machine is a type of virtual machine which is kept on top of the hypervisor, which can be either an operating system or a virtual appliance. It enables intelligent sharing of resources, in addition to running on top of the physical host. These appealing properties have resulted in its strong demand across the globe.
The organization size-wise segments covered in the report are small and medium enterprises (SMEs) and large enterprises.
With respect to vertical, the market is considered for BFSI, manufacturing, healthcare, IT & telecommunication, government, and others. The IT & telecommunication sector is quite dependent on data centers when it comes to efficient running of business operations. The smooth operation of data centers holds utmost importance to these companies since this factor has a significant effect on their operational expenditure and also impacts the overall financial position of the company. Therefore, the high adoption of data center virtualization in the IT & Telecommunication sector is generally noted all over the world.
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Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW) are the key markets for data center virtualization.
APAC has the highest chances of growing at the fastest rate in the global data center virtualization market, note the data experts at MRFR. The data center virtualization market in the region is anticipated to have significant growth during the review period as a result of soaring demand for advanced technologies, especially in developing countries like India, Japan, and China.
North America is currently the leading market for data center virtualization and is expected to hold the top position in the review period as well. The region is witnessing fast-paced expansion and is quickly adopting cloud services. Therefore, the cloud service providers in the region are focusing on infrastructural expansion with the adoption of virtualization services.
Europe is making somewhat similar strides as North America, with countries like France, Germany, and the United Kingdom (U.K.) at the vanguard of the market growth. The regional market benefits largely from the presence of advanced infrastructure combined with the rising adoption of advanced technology. The small and medium enterprises in the region are responsible for the larger share of market revenue, with the industrial market expected to gain massive traction in the coming years.
The players leading the worldwide data center virtualization market are IBM Corporation (U.S.), Citrix Systems Inc. (U.S.) VMware Inc. (U.S.), Red Hat Inc. (U.S.), Dell Corporation (U.S.), Microsoft Corporation (U.S.), Cisco Systems, Inc. (U.S.), Hewlett Packard Enterprise Development LP (U.S.), SAP SE (Germany), Fujitsu Limited (Japan), among others.
VMware recently acquired Bitfusion, a company with expertise in virtualization software that accelerates computing. This acquisition is helping VMware expand its list of vital pieces of data center infrastructure.