11th December 2019 – The global Data
Center Security Market size is expected to value at USD 15.49 billion
by 2024. The market is subject to witness a substantial growth due to the
rising concerns regarding cyber-attacks and data breaches and increasing
initiatives by government authorities to minimize threat-level to keep the
integrity and sovereignty of the state. Factors responsible for rapid growth of
the data center security industry include substantial increase in online
traffic, shifting trend towards adoption of the cloud-based infrastructure,
rise in the number of cyber-attacks and the need for a highly comprehensive security
policy. Globally, the data center security market is predicted to grow at
higher CAGR in the forecast period, providing numerous opportunities for market
players to invest in research and development of the market.
The data centers are considered as a
vital element of organization owing to benefits such as capability to store
critical information and core assets involved in the various business processes
such as critical customer information, intellectual property, and transaction
records. Safeguard of critical information can be achieved with the help of
data center security. These factors are expected to foster the growth of data
center security industry over the forecast period.
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Early adoption of the advanced data
security solutions allows organization to protect and safeguard core assets by
offering immunity at different levels of business processes. The market is
expected to display a high growth rate in the upcoming years owing to the vast
increase in amount of businesses implementing cloud computing platforms and
virtualization methods for their business information storage.
Increasing adoption of the various cloud
computing platforms and virtualization methods leads to excessive
vulnerabilities at different levels in the framework. This creates a need to
implement stringent measures to minimize vulnerabilities involving both logical
and physical measures. In addition, the virtualization of workplaces coupled
with introduction of software-defined storage is leading to increase in the
number of malware attacks and intrusion threats. These factors are expected to
boost the market demand for advanced data center security solution over the
forecast period.
Emergence of software-defined networking
solutions and shifting trend towards Bring Your Own Device (BYOD) is predicted
to drive demand for exclusive control and surveillance issues in the existing
infrastructure of the data centers, thereby driving the market growth of data
center security market in the upcoming years.
The data center security industry is
broadly categorized into five major segments based on end-user application such
as IT & telecom industry, healthcare sector, banking & financial
services industry (BFSI), retail companies, and research and development firms.
The IT & telecom industry is considered as one of the fastest growing
segment in the market with substantial revenue generation in the last couple of
years.
Growing popularity of IT & telecom
market segment is attributed to the emergence of new threats, the
sophistication of attacks, and shifting focus towards adoption of next
generation technology. The financial services segment has also witnessed
massive growth, in the recent years due to the increasing demand to store sensitive
business information and a larger attack area for incursions into the networks.
The data center security market is
divided by region as North America, Europe, Asia-Pacific, Latin America and
Africa. North American and European region have shown major growth in recent
years owing to the rise in the implementation of latest technologies in cyber
security sector, presence of matured market in the region and existence of
well-established IT infrastructure. Asia-Pacific region is predicted to hold
major market share in the data center security with massive growth in forecast
period.
Countries such as India, China, Japan
and Singapore are leading the Asia-Pacific market with growing demand from
small and medium-sized enterprises (SMEs) and significant investment by leading
industry players considering potential growth opportunities in the region.
The key players in the data center
security industry are Symantec Co., Juniper Networks Inc., IBM Co., Cisco
Systems Inc., Fortinet Inc., Checkpoint Software Technologies Ltd., Dell
Incorporations, Trend Micro Incorporations, Honeywell International, Inc.,
Citrix Systems Incorporations, EMC Co., McAfee Inc., Intel Corp., and
Hewlett-Packard Enterprise Company.
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