Virtual Machine Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | Amazon.com Inc., Google LLC, Microsoft Corporation, Alibaba Group Holding Limited, Dell Technologies Inc

"The virtual machine market size has grown rapidly in recent years. It will grow from $17.08 billion in 2023 to $20.26 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The growth in the historic period can be attributed to increased server consolidation, increased legacy application support, increased resource efficiency and cost savings, development and testing environment.

The virtual machine market size is expected to see rapid growth in the next few years. It will grow to $37.53 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to increasing cloud computing adoption, increasing edge computing expansion, increasing hybrid and multi-cloud architectures, increasing security and compliance requirements. Major trends in the forecast period include serverless computing integration, AI and machine learning optimization, enhanced security features, edge virtualization for IOT.

Market Overview -
A virtual machine (VM) refers to a software emulation of a computer system that allows users to run multiple operating systems on a single physical machine. It is used for development, testing, and deployment purposes. It also provides a secure, isolated environment for running applications and enables efficient use of hardware resources by consolidating servers.

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Cloud Computing Surge Boosts Virtual Machine Market Expansion
The acceleration of cloud computing adoption is expected to propel the growth of the virtual machine market going forward. Cloud computing adoption refers to the process by which organizations integrate cloud computing technologies and services into their IT infrastructure and operations. This adoption arises due to cost savings, scalability, security, and the ability to facilitate remote access to data and services. Virtual machines use cloud computing to provide on-demand, scalable computing resources by allowing multiple isolated environments to run on the same physical hardware, maximizing efficiency and flexibility. For instance, in February 2024, according to reports shared by the AAG IT Support Service, a US-based digital transformation service provider, a survey of 753 technical and business professionals showed an increase in heavy cloud service usage to 63% in 2022, up from 59% in 2021 and 53% in 2020. Therefore, the acceleration of cloud computing adoption is driving the growth of the virtual machine market.

Competitive Landscape -
Major companies operating in the virtual machine market are Amazon.com Inc., Google LLC, Microsoft Corporation, Alibaba Group Holding Limited, Dell Technologies Inc., Huawei Technologies Co. Ltd., Lenovo Group Limited, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Fujitsu Limited, The Hewlett Packard Enterprise Company, Vmware LLC, NetApp Inc., Juniper Networks Inc., Red Hat Inc., Rackspace Technology Inc., Nutanix Inc., Docker Inc., Scale Computing, CloudSimple Inc., Ncomputing Co. Ltd., Proxmox Server Solutions Gmbh, Alludo - Cascade Parent Limited

Microsoft Advances HPC Capabilities With Azure HX And HBv4 Launch
Major companies operating in the virtual machine market are concentrating on new innovative advanced solutions, such as Azure HX and HBv4 virtual machines for high-performance computing (HPC), to secure their position within the market. This machine is optimized for various HPC workloads such as computational fluid dynamics, finite element analysis, rendering, molecular dynamics, and financial risk analysis. For instance, in November 2022, Microsoft Corporation, a US-based technology company, launched Azure HX and HBv4. The HBv4 series excels in diverse HPC applications, from weather simulation to financial analysis, offering significant performance boosts with features like up to 176 AMD EPYC 9004-series (Genoa) CPU cores, 688 GB of RAM, and 400 Gb/s NDR InfiniBand from NVIDIA Networking. On the other hand, the HX-series VMs offer significant performance enhancements at a lower cost, with the latest 4th Gen AMD EPYC processors paired with 400 Gigabit NVIDIA Quantum-2 InfiniBand. Additionally, this series enhances MPI collective offload and routing capabilities with 400 gigabit InfiniBand, is tailored for chip design, and offers unparalleled performance and cost efficiency for HPC customers.

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Key Segments -
The virtual machine market covered in this report is segmented -
1) By Type: System Virtual Machine, Process Virtual Machine
2) By Application: Small Scale Enterprises, Medium Scale Enterprises, Large Scale Enterprises
3) By Industry: Banking, Financial Services, And Insurance (BFSI), Information Technology And Telecommunications, Retail, Healthcare, Manufacturing, Government, Other Industries

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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