With a projected CAGR of roughly 10.1% between 2023 and 2030, the global market for data centre virtualization, which was estimated to be worth $18.1 billion in 2022, is expected to reach $29.7 billion by the end of 2030.
The market research is a crucial resource for information on industry opportunities, challenges, and growth drivers worldwide. The data centre virtualization market report includes a thorough study of the competition landscape and covers the geographical market. Additionally, it incorporates value chain analysis, PESTEL analysis, SWOT analysis, Porter’s five forces analysis, market basket analysis, profit ratio analysis, and market attractiveness analysis. The paper also investigates the stakeholder and investor arena to assist businesses in making data-driven decisions.
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Overview of the data centre virtualization market
The process of building, implementing, and creating a highly secure, scalable data centre that can support data virtualization components for enhancing IT performance is known as data centre virtualization. Along with expertly managing traditional on-premise infrastructure, it also provides a solid basis for managing private and public cloud solutions. According to reports, data centre virtualization offers a wide range of advantages to different firms looking to boost profitability, scalability, and data mobility. Data centre virtualization not only increases the storage capacity of the data centres but also helps save money.
• Our research analyst’s analysis indicates that over the forecast period (2023-2030), the worldwide data centre virtualization market will develop at an average yearly growth rate of about 10.1%.
• The global market for data centre virtualization was estimated to generate close to $18.1 billion in revenue in 2022, and is projected to increase to $29.7 billion by 2030.
• The demand for centralised and unified management of data centres is expected to drive significant growth in the global market for data centre virtualization over the course of the forecast period. Other factors driving this growth include the desire for businesses to reduce operational costs and improve business agility.
The desire for reducing operating expenses and enhancing corporate agility is increasing, which will drive global market trends in 2023–2030.
Global need for centralised & unified management of data centres, together with a critical need for businesses to save operational costs and improve business agility, will fuel the growth of the data centre virtualization market. The global market trends will also be boosted by rising demand for reducing data centre complexity and an increase in data centre traffic. Increased investments, increased digitalization, and increased data centres have all positively impacted the expansion of the global market. Additionally, growing public awareness of the benefits of cloud-based data storage will encourage the market’s spread internationally.
Localization of data centres is governed by strict government regulations that limit the growth of the global business.
The future growth of the global data centre virtualization sector has been negatively influenced by data centre localisation. Strict legislation governing the localization of data centres may further restrain the business globally. The worldwide industry boom may be further hampered by growing data security issues.
Data centres’ benefits are not well known, which is a major obstacle to the worldwide market’s expansion.
The global market for data centre localization may be constrained by a lack of knowledge about data centres. In addition, many businesses lack the knowledge necessary to transition from physical hardware infrastructure to virtual data centres. This in turn will present a significant obstacle to the worldwide market’s path of expansion.
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The Global Data Center Virtualization Market is segmented based on type, application and region.
Global Data Center Virtualization Market: Type Segment Analysis
● Advisory and Implementation Services
● Optimization Services
● Managed Services
● Technical Support Services
Global Data Center Virtualization Market: Application Segment Analysis
● IT and Telecommunication
● Banking Financial ServicesÂand Insurance (BFSI)
● Retail and SCM
● Media and Entertainment
● Manufacturing and Automotive
• In the first half of 2019, VMware, Inc., a cloud computing and virtual technology company based in the United States, announced VMware Cloud on Dell EMC. This will enable the company to provide end customers with secure, scalable, and robust infrastructure for data centre services both on-premises and at edge locations. It is believed that the strategic approach will emphasise the worldwide industry’s expansion.
• Citrix Systems, Inc., a cloud computing and virtualization technology business located in the United States, and Nutanix, Inc., a cloud computing company based in the United States, teamed together in the second half of 2021 to provide secured access to apps and desktops from any device.
• Microsoft Corporation opened its first data centre in Qatar in August 2022, creating new growth opportunities for the nation’s cloud-based economy going forward. The action will accelerate the development of the Middle Eastern data centre virtualization market.
The data center virtualization market profiles key players such as:
● Hewlett Packard Enterprise Development LP
● VMware Inc.
● HCL Technologies Limited
● Microsoft Corporation
● AT&T Corporation
● Cisco Systems Inc.
● Citrix Systems Inc.
● Huawei Technologies Co. Ltd.
● Fujitsu Limited
● Radiant Communications Corp.
● IBM Corporation.
Over the next eight years, the North American data centre virtualization market is expected to experience enormous revenue growth.
North America is expected to dominate the regional market expansion during the course of the analysis timeframe, accounting for over two-fifths of the worldwide data centre virtualization market revenue in 2022. The widespread adoption of data centre virtualization software and services by businesses across nations like Canada and the United States may boost the regional market between 2023 and 2030. The existence of major firms like Cisco Systems, VMware, Citrix Systems, and Microsoft Corporation is another factor.
On the other hand, the Asia-Pacific region is expected to experience the quickest CAGR of almost 17.2% in the projection years for the data centre virtualization sector. The expansion of funding for cloud technologies might be blamed for the market expansion in the Asia-Pacific region.
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