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Virtualization Software Market Trends, Top Companies, Share, Growth And Forecast 2033
Virtualization Software Market Trends
As per the report, the virtualization software market size has grown rapidly in recent years. It will grow from $73.74 billion in 2023 to $85.83 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%. The virtualization software market size is expected to see rapid growth in the next few years. It will grow to $159.33 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%.
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Cloud-Based Services Fueling Expansion Of The Virtualization Software Market
Increasing demand for cloud-based services is expected to propel the growth of the virtualization software market going forward. Cloud-based services refer to computing resources, such as storage, processing power, and software applications, accessed over the internet instead of hosted locally on a user's device or network. The increased demand for cloud-based services is due to their scalability, cost-effectiveness, enhanced collaboration, data security, and accessibility benefits. Virtualization software enables efficient resource allocation and management, allowing cloud-based services to maximize server utilization, streamline operations, and provide scalable computing resources on demand. For instance, in December 2023, according to Eurostat, a Luxembourg-based intergovernmental organization, around 45.2% of European Union enterprises purchased cloud computing services to host their email systems, store electronic files, and accomplish other tasks. EU enterprises' purchasing of cloud computing services increased by 4.2 percentage points in 2023 compared to 2021. About 44% of traditional small businesses use cloud infrastructure or hosting services, while 66% of small tech companies and 74% of enterprises utilize cloud services. Therefore, increasing demand for cloud-based services is driving the growth of the virtualization software market.
Key Players Advancements In Virtualization Software
Major companies operating in the virtualization software market are focusing on advanced virtualization software, such as single hybrid cloud data platforms to address diverse enterprise needs efficiently. A single hybrid cloud data platform in virtualization software integrates and manages data across public and private cloud environments for seamless operations. For instance, in October 2023, Hitachi Ltd, a Japan-based manufacturer of electrical equipment, launched Hitachi Virtual Storage Platform One a single hybrid cloud data platform. It offers a streamlined method for handling large-scale mission-critical tasks, featuring a unified architecture that efficiently addresses challenges through a singular control plane, data fabric, and data plane spanning block, file, object, cloud, mainframe, and software-defined storage workloads. This comprehensive data platform caters to diverse environments and is managed by a single AI-enabled software stack.
The virtualization software market covered in this report is segmented -
1) By Type: Storage Virtualization, Application Virtualization, Network Virtualization, Hardware Virtualization, Server Virtualization, Operating System (OS) Virtualization, Other Types
2) By Platform: PC Virtualization, Mobile Virtualization
3) By Deployment: On-Premises Virtualization, Cloud-Based Virtualization
4) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
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Major companies operating in the virtualization software market are Amazon.com Inc., Google LLC, Microsoft Corporation, Huawei Technologies Co. Ltd., International Business Machines Corporation, Oracle Corporation, Broadcom Inc., Citrix Systems Inc., Datadog Inc., Nutanix Inc., Palo Alto Research Center Incorporated (PARC), Veeam Software Corporation, Corel Corporation, Scale Computing Inc., NComputing Co. Ltd., Canatu Oy, Tekscan Inc., FlexEnable Limited, Lynx Software Technologies Inc., TenAsys Corporation, OpenStack Foundation
Contents of the report:
1. Executive Summary
2. Virtualization Software Market Report Structure
3. Virtualization Software Market Trends And Strategies
4. Virtualization Software Market - Macro Economic Scenario
5. Virtualization Software Market Size And Growth
…..
27. Virtualization Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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