Market Highlights
Mounting demand for high bandwidth among enterprises has been the result of the surge in the internet of things (IoT) and over the top (OTT) services and has boosted the need for software-defined data centers (SDDC). Use of SDDC enables virtualization of data center infrastructures, which leads to maximization of the utilization of the available hardware resources in enterprises. With the detection of threats that can go through access controls as well as firewalls and inspection of data flow among servers, SDDC helps secure the virtual environment. SDDC also helps enterprises make use of software-controlled security policies, optimize operational performance, and reduce space constraints as well as capital expenditure. These appealing qualities are expected to boost the demand for SDDC among end-users and induce growth of the data center security market in the years to come.
The surging demand witnessed for repositories of business data is causing a significant traction for the development of the market. Market Research Future has conducted in-depth study of the global data center security market. The report thus published stated that the global data center security market is predicted to develop at a CAGR of 13% during the assessment period. Business data is extremely valuable, and it has consequently encouraged the innovation of tools that will curtail the risks associated with preserving such data. Additionally, the growing occurrences of data theft has boosted the adoption of data security centers rapidly across the world. Moreover, the surging popularity of online shopping platforms and e-commerce are accelerating the need for mobile applications and it is expected to propel the market during the upcoming years.
Rising popularity of SDDC is projected to be a significant trend that can trigger the growth of the data center security market in the next few years. More and more enterprises are now adopting hybrid cloud, multi-cloud and public cloud solutions to bring down the operational costs as well as the capital expenditure. Given the rising adoption of these cloud solutions, dealing with challenges like vendor lock-ins can become easy in the following years.
On the downside, compatibility issues among services of various cloud vendors can expose enterprises to cyber-threats and attacks, which can work against the growth rate of the market during the review period. To cater to the rising menace of cyber-attacks, companies are providing a wide range of advanced security solutions. Therefore, surging threat of cyber-attacks can accelerate the demand for the data center security solutions market during the conjectured timeframe.
Competitive Analysis
The development patterns are studied in tandem to the consumer preferences to attain the largest growth in the long run. The divergence of the product variety in the market is boosting the avenues for growth of the market. The data center security market is at an extremely productive phase and can be considered proficient of creating greater value for the enterprises in the market and its respective shareholders. The capability to exploit the economies of scale is also proving to be helpful for general market growth. Though, the market has also significantly defused the market advantages and therefore, is promoting a surge in the number of players operating in the market.
The key contenders in the data center security market include Fortinet Inc. (U.S.), International Business Machines (IBM) Corporation (U.S.), Hewlett Packard (U.S.), Symantec Corporation (U.S.), Honeywell International Inc. (U.S.), Siemens AG (Germany), Juniper Networks, Inc. (U.S.), McAfee, Inc. (U.S.), Dell Inc. (U.S.), Robert Bosch GmbH (Germany), Cisco Systems, Inc. (U.S.), Check Point Software Technologies Ltd. (Israel), Trend Micro, Inc. (Japan), Intel Corporation (U.S.), Tyco International (Ireland), Citrix Systems, Inc. (U.S.), and Schneider Electric SE (France).
Regional Analysis
The global market for data center security has been studied extensively on the basis of Asia Pacific (APAC), Europe, North America, in addition to the Rest of the World (RoW).
With an out and out study of all the growth opportunities, MRFR believes that North America has the highest potential to achieve the top position in the global data center security market in the ensuing years. surging investments in data centers, rigid regulations, along with unprecedented rise in cyberattacks have led the data center security market to greater heights in the region over the past couple of years.
Europe is observed to be making striking progress and can even attain the fastest growth rate during the estimated period. A number of enterprises in the region are increasing their investments in cloud solutions, on account of the new regulations pertaining to data protection. Data center security solutions service vendors in the region are also entering partnerships to offer advanced security services that can deal with any type of issue related to cybersecurity. As a result, the rising deployment of cloud services is expected to lay foundation for the data center security solutions in the region during the forecast period.
Segmentation:
The global data center security market has been segmented based on component, vertical, and data center type. Based on component, the market is categorized into services and solution. The solution segment is further bifurcated into physical security solutions and logical security solutions. The services segment is sub segmented into integration, deployment, managed services, and consulting services. Based on data center type, the market is categorized into mid-sized data center, large data center, and enterprise data center. Based on vertical, the data center security market is segmented into media & entertainment, government & defense, healthcare, IT & telecommunication, BFSI, and others.
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