Virtualization Security Market to Generate $6,986.3 Million and Exhibit a CAGR of 13.6% from 2021 to 2028

The global virtualization security market is expected to witness massive growth in the forecast period, owing to rising adoption of virtual applications by various businesses. The Asia-Pacific region is anticipated to observe lucrative growth by 2028.

Research Dive in its latest published report estimates that the global virtualization security market will generate $6,986.3 million and exhibit a CAGR of 13.6% from 2021 to 2028.

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Market Dynamics

A growing number of small & medium sized businesses and large corporations are hugely adopting virtual applications. In addition, the utilization of cloud computing has proven to be more cost-effective for organizations, where they could eliminate server/hardware requirements, manage with a remote workforce, and drastically reduce operational/maintenance costs. These factors are predicted to boost the growth of the global virtualization security market during the forecast period. Moreover, the growing demand for network security among individuals and enterprises is prompting companies to greatly invest in virtual security tools in order to provide data transformation and reliable security services. This factor is predicted to create huge growth opportunities for the market by 2028. However, the shortage of skilled IT experts in virtualization security is expected to hamper the market growth during the estimated timeframe.

Impact of COVID-19 Pandemic on the Virtualization Security Market

The COVID-19 pandemic has favorably impacted the global virtualization security market growth. The positive impact on the virtualization security market size and share is mainly because most of the quick IT work done during unprecedented times could have resulted in new cyber risk exposures. Besides, there is an increased demand for cloud computing technology in various industries, particularly in the healthcare industry, to analyze patient data during the COVID-19 crisis.

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Key Segment Findings of the Market

The research report segments the global virtualization security market into component, deployment, enterprise size, end use, and region.

Based on component, the solution sub-segment is estimated to surpass $4,955.9 million by 2028 and hold a dominating market share during the forecast period. This sub-segment growth of the global virtualization security market is mainly because virtualization models offer a wide range of applications, such as the threat of cyber-attacks is one of the most serious threat, compelling the use of some sort of security solution.

Based on deployment, the cloud sub-segment is estimated to generate a revenue of $4,332.0 million by 2028 and observe a significant growth in the virtualization security market over the forecast period. This is mainly because virtualization has developed as a means of improving system security while also providing on the cloud computing promise, which allow businesses to save IT expenses and increase productivity.

Based on enterprise size, the large enterprises sub-segment valued for $1,675.2 million in 2020 and is predicted to hold the highest revenue share during the analysis period. This is mainly due to the growing shift of large enterprises have moved their operations to the cloud over the last decade. Besides, enterprise cloud computing provides businesses new ways to cut their expenses while improving their flexibility, robustness, and network security, which is driving the sub-segment's growth.

Based on end use, the BFSI sub-segment accounted for $411.5 million in 2020 and is anticipated to witness the fastest growth during the forecast period. Organizations in the BFSI sectors are gearing up their digital transformations, making substantial progress with digitization efforts. This factor is expected to drive the growth of the BFSI sub-segment in the virtualization security market.

Based on region, the Asia-Pacific virtualization security market is expected to surpass $2,353.7 million by 2028 and witness lucrative growth in the global industry over the forecast period. The booming IT infrastructure in Japan and China and the presence of leading companies in the region are the major factors predicted to boost the regional market growth by 2028.

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Prominent Market Players

The key players of the global virtualization security market include Microsoft, IBM, Fortinet Inc., Check Point Software Technologies, Ltd, Cisco Systems, Inc., Broadcom Corporation, Citrix Systems, Inc., Juniper Networks, Inc., VMware, Trend Micro, and Sophos Ltd. These players are focusing on product launches, technological advancements, and strategic collaborations to gain a competitive in the global market.

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