Market Highlights
The global market report with a proper discussion of the data center security market reveals possibilities where the predicted growth path would surpass a valuation of USD 15 billion by 2023. During the forecast period from 2018 to 2023, the market would achieve a CAGR of 13% . Market Research Future (MRFR) claims that factors like growing demand for data across sectors, government initiatives to make online transactions easier and safer, implementation of stringent policies to protect users, growing instances of a data breach, and others are expected to bolster the global data center security market.
Top Drivers and Main Barriers
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.
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.
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Segmentation:
The global report on the data center security market was discussed by MRFR analysts on the basis of segments like data center type, component, and vertical. These segments and data may help in finding insights that can inspire moves to increase revenues.
By component, the study of the global data center security market has been studied on the basis of solutions and services. The solution segment includes a detailed study of physical security solutions and logical security solutions. The logical security solutions segment relies on a segmentation of threat & application security and data protection & infrastructure security. The physical security solutions segment comprises facility security, computer room security, perimeter security, and rack-level security. The services segment has been segmented on the basis of integration & deployment, managed services, and consulting services.
By data center type, the study on the data center security market includes segments like enterprise data center, mid-sized data center, and large data center.
By vertical, the discussion on the data center security market includes healthcare, BFSI, media & entertainment, IT & telecommunication, government & defense, and others.
Regional Outlook
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.
Top Players
The top players in the worldwide market for data center security include Citrix Systems, Inc. (U.S.), International Business Machines (IBM) Corporation (U.S.), Honeywell International Inc. (U.S.), Cisco Systems, Inc. (U.S.), Hewlett Packard (U.S.), McAfee, Inc. (U.S.), Dell Inc. (U.S.), Robert Bosch GmbH (Germany), Check Point Software Technologies Ltd. (Israel), Symantec Corporation (U.S.), Intel Corporation (U.S.), Siemens AG (Germany), Trend Micro, Inc. (Japan), Fortinet Inc. (U.S.), Schneider Electric SE (France), Juniper Networks, Inc. (U.S.) Tyco International (Ireland), to name a few.
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Global Data Center Security Market: by Component (Solution, Services), Data Center Type (Mid-Sized Data Center, Enterprise Data Center, Large Data Center), Vertical (BFSI, Healthcare, IT & Telecommunication, Media & Entertainment) – Forecast to 2023
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