Data Center Security Market to Develop with 11.40% CAGR during forecast period 2023 to 2032

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The elevating demand observed for repositories of business data is creating significant traction for the growth of the market. Market reports associated with the information and communication technology industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is anticipated to expand with a 11.40% CAGR in the forecast period.

The economic value of business data is high which has prompted the development of tools that will reduce the risks associated with storing such data.  Moreover, the rising incidences of data theft are raising the adoption of data security centers globally. Also, increasing popularity of e-commerce and online shopping platforms and improving demand for mobile applications is expected to boost the market in the upcoming years.

Segmental Analysis

The data center security market is segmented by data center type, component, and vertical. On the basis of component, the market is divided into solution and services. The solution segment is further segmented into logical security solutions and physical security solutions. The services segment is further segmented into managed services, integration and deployment and consulting services. On the basis of data center type, the market is segmented into enterprise data center, mid-sized data center, and large data center. On the basis of vertical, the data center security market is segmented into healthcare, media & entertainment, BFSI, IT & telecommunication, government & defense, and others.

Regional Analysis

The regional analysis of the data center security market consists of Asia Pacific, North America, Europe, and the Rest of the World. The North American region is expected to be responsible for the major share of the market, while, the European region is likely to grow at a rapid rate during the forecast period. The North American market’s growth is accredited to technological improvements and amplified adoption of mobile devices enabled with NFC services through numerous industry verticals.

The North American region is likely to hold the major share of the market across the globe followed by the European and Asia Pacific regions. Countries such as the U.S. and Canada are controlling the North American regional market owing to increasing technological improvements and growing demand for data center security solutions and services across several enterprises in the region. The region also has a firm infrastructure, which permits the quicker implementation of advanced technologies. Moreover, the increasing application of cloud-based technologies is another main factor compelling the growth of data center security market in the region.

Competitive Analysis

The evolution patterns are reviewed in tandem to the customer likings to realize the highest growth, and in the long run, viability. The diversification of the product assortment in the market is increasing the opportunity for the progress of the market. The potential for profitability in a market has been determined to be optimistic which will be fruitful for future expansions. The management tendencies in the market are reinforcing the level of growth that can be achieved in the present market scenario.  The market is at an optimally productive level and will be capable of generating greater value for the firms in the market and its shareholders. The ability to utilize the economies of scale is further proving to be beneficial for overall market growth. Although, the market has also considerably neutralized the market advantages and thus is promoting an increase in the number of firms in the market.

The foremost contenders in the data center security market are International Business Machines (IBM) Corporation (U.S.), Fortinet Inc. (U.S.), Symantec Corporation (U.S.), Hewlett Packard (U.S.), Siemens AG (Germany), Honeywell International Inc. (U.S.), McAfee, Inc. (U.S.), Juniper Networks, Inc. (U.S.), Robert Bosch GmbH (Germany), Dell Inc. (U.S.), Check Point Software Technologies Ltd. (Israel), Cisco Systems, Inc. (U.S.), Intel Corporation (U.S.), Trend Micro, Inc. (Japan), Schneider Electric SE (France), Tyco International (Ireland), and Citrix Systems, Inc. (U.S.).