Global Data Center Security Market's Value to Surge by 11.1% CAGR through 2028: Fueled by Escalating Cybercrime Concerns and Government Initiatives

The global data center security market is poised for remarkable growth, with an anticipated Compound Annual Growth Rate (CAGR) of 11.1% during the period from 2018 to 2028. This surge can be attributed to the escalating frequency of cybercrime and data hacking incidents, prompting enterprises to prioritize enhanced security solutions. These solutions are aimed at safeguarding both cloud-based and on-premises data, while also fortifying internal security frameworks.

A significant driver behind this momentum is the rising awareness surrounding the adoption of data center security solutions. As organizations worldwide increasingly recognize the imperative nature of robust security measures, the adoption of data centers is experiencing a notable boost. This trend is substantially contributing to the expansion of the global data center security market's value.

Furthermore, the surge in governmental initiatives is playing a pivotal role in propelling the global data center security market's growth trajectory. Developed and developing nations alike are undertaking concerted efforts to address security concerns in data centers. This strategic approach from governments is providing an additional impetus to the burgeoning value of the global data center security market.

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Rising Demand for Data Center Security Driven by Global Expansion of Data Centers

Increasing Government Initiatives and Collaborations Fuel Market Growth

With the widespread adoption of data centers, the need to secure their infrastructure and sensitive information has become paramount worldwide. A significant trend shaping the growth of the global data center security market is the upsurge in initiatives undertaken by regional governments in conjunction with key Tier-1 and Tier-2 companies. These companies, often leading providers of data center security solutions and services, play a pivotal role in safeguarding critical data within their respective countries and regions.

Virtualized Solutions and Collaborations Drive Evolution in Data Center Security

According to analysis by FMI, the data center security landscape has seen a rise in virtualized solutions introduced through collaborations between multiple channel partners. These partnerships not only bolster the market presence of the channel partners but also spark a new trend in the data center security market. Nevertheless, physical security solutions are projected to see limited demand growth due to the escalating adoption of enterprise virtualization.

BFSI and Healthcare Sectors Emerge as Profitable End-use Segments

The report anticipates robust adoption of data center security across critical end-use sectors such as IT & telecom, BFSI, healthcare, government & defense, and media & entertainment. Among these, the BFSI and healthcare segments are expected to witness the most substantial growth in data center security adoption, offering numerous opportunities for market expansion.

Asia's Rapid Development Drives Data Center Security Demand

While North America retains its leading position in the global data center security market, emerging Asian countries are showcasing a positive growth outlook. The analysis highlights East Asia and South Asia as regions likely to witness strong demand for data center security solutions and services. These areas are projected to exhibit higher revenue growth rates throughout the forecast period.

Growing Data Center Adoption in Developing Economies Drives Demand

Driven by the increasing adoption of data centers across enterprises of all sizes, including SMEs, within rapidly developing nations like Indonesia, India, and China, the demand for data center security solutions and services is expected to surge in these countries in the upcoming years. Nevertheless, due to limited awareness about data center security in underdeveloped and certain developing nations, the consulting segment of the data center security market is anticipated to experience notable growth.

Key Players Shaping the Global Data Center Security Market

The global data center security market boasts prominent players including CheckPoint Software Technologies Limited, Hewlett Packard Enterprises, Citrix Systems, Fortinet, Inc., Dell EMC, Honeywell International Inc., FutureNet Solutions, Inc., IBM Corporation, McAfee, LLC, Juniper Networks, Inc., Schneider Electric, Robert Bosch GmbH, Trend Micro Incorporated, and Symantec Corporation.

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Data Centre Security Market: Segmentation

On the basis of offering:
Logical Security Solutions
Virtual Appliances
Server Software
Physical Security Solutions
Services
Managed Services
Consulting Services

On the basis of data centre type:
Large
Medium
Small

On the basis of end use:
BFSI
IT & Telecom
Government & Defence
Healthcare
Media & Entertainment
Others

On the basis of region:
North America
U.S.
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Europe
Germany
Italy
France
U.K.
Spain
BENELUX
Russia
Rest of Europe
East Asia
China
Japan
South Korea
South Asia
India
Thailand
Indonesia
Malaysia
Rest of South Asia
Oceania
Australia
New Zealand
MEA (Middle East & Africa)
GCC Countries
Turkey
Northern Africa
South Africa
Rest of MEA

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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This release was published on openPR.