Author: Himanshu Patni
16 May 2023
The process of building a contemporary data center that is highly scalable, accessible, and safe is known as data center virtualization. It helps in improving IT agility and building a solid foundation to manage private and public cloud services alongside conventional on-premises infrastructure with the help of data center virtualization tools.
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Data Center Virtualization Market was valued at more than USD 8 billion in 2020 and is expected to grow at a CAGR of around 5% from 2022-2028. The growing adoption of data center virtualization is mainly attributed to its increasing application in various industries. Furthermore, data center virtualization offers various different benefits such as, reduction in operational costs, improved business agility, and centralized data management are expected to drive the market during the forecast period. Moreover, the rising spending on data center technology is also expected to drive the market during the forecast period. Additionally, the growing volume of data generated is expected to significantly influence the market growth during the forecast period. For instance, according to finances online, 2.5quiltillion bytes of data is created daily.
Based on type, the market is segmented into technical support services, optimization services, managed services, and advisory & implementation services. The optimization services segment is expected to grow with the highest CAGR during the forecast period. Optimization services help enterprises in increasing network security and operational effectiveness which is expected to drive the segment market during the forecast period.
On the basis of industry vertical, the market is segmented into IT & telecommunication, BFSI, education, healthcare, government and others. The BFSI segment is expected to achieve a significant market share in 2020 and is expected to maintain this throughout the forecast period. The growth of data center virtualization in the BFSI segment is mainly attributed to the growing number of transactions across the globe. Moreover, the growing trend of digital payments in countries like China and India is expected to significantly influence the market growth during the forecast period.
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For a better understanding of the market adoption of the data center virtualization industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The North America region dominated the data visualization market in 2020 and is expected to maintain a similar trend throughout the forecast period. The growth in data visualization in the region is mainly attributed to the growing number of SMEs in the region. For instance, according to SBA(Small Business Administration) SME’s make up to 99% of all U.S Businesses. Moreover, organizations in countries such as the U.S and Canada are the early adoptors of data center virtualization technology which is expected to propel the market during the forecast period.
Some of the major players operating in the market include Intuit Inc; Sage Group plc; SAP SE, Microsoft; Infor; Epicor Software Corporation; Unit4; Xero Limited; Zoho Corporation Pvt. Ltd; and Red Wing Software Inc.
Global Data Center Virtualization Market Segmentation
Market Insight, by Component
· Technical Support Services
· Optimization Services
· Managed Services
· Advisory & Implementation Services
Market Insight, by Industry Vertical
· IT & Telecommunication
· BFSI
· Education
· Healthcare
· Government
· Others
Market Insight, by Region
· North America
o US
o Canada
o Rest of North America
· Europe
o Germany
o United Kingdom
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· VMware, Inc
· Microsoft
· Citrix Systems Inc
· Cisco Systems Inc
· Fujitsu
· Radiant Communications Corporation
· Hewlett Packard Enterprise Development LP
· AT&T
· Huawei Technologies Co., Ltd
· HCL Technologies Limited
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