Data center virtualization market projected to reach USD 28.9 billion by 2032
From GlobeNewswire: 2024-12-06 09:00:00
The global Data Center Virtualization Market was valued at USD 8.0 billion in 2023, projected to reach USD 28.9 billion by 2032 with a CAGR of 15.42%. Demand surges as organizations pivot to digital operations, seeking scalable and efficient IT infrastructure. Virtualization technology offers cost advantages, cloud computing integration, and improved resource allocation.
Enterprises adopt data center virtualization to support digital transformation, AI, machine learning, and big data analytics. Virtualization enhances resource allocation, security, and scalability, driving market growth. Benefits include optimized server utilization, cost savings, and improved disaster recovery planning. Businesses scale IT infrastructure cost-effectively without additional physical resources, boosting operational agility.
Key players in the Data Center Virtualization Market include VMware, Microsoft, Cisco Systems, IBM, AWS, Oracle, and more. Market scope includes a forecasted growth from USD 8.0 billion in 2023 to USD 28.9 billion by 2032, with a CAGR of 15.42% from 2024 to 2032. Major growth drivers include cloud computing demand, data generation across industries, and the need for agile data center solutions.
Segmentation analysis reveals the IT and telecommunication segment accounted for over 48.0% revenue share in 2023 and is expected to maintain this position. The healthcare segment shows the highest CAGR, driven by the rising demand for data center solutions to enhance patient experience, secure data sharing, and improve patient-provider satisfaction. Data center virtualization is a major trend driving growth in the healthcare segment of the global data center market. Benefits include increased productivity, faster provisioning, data mobility, profitability, cost management, security, and compliance. Companies like Google have also contributed to this growth. Market segmentation includes components, types, organization size, end-use, and regional analysis.
The North American region leads the data center virtualization market, accounting for over 39.8% of revenue share in 2023. Companies like Microsoft, VMware, Inc., and Cisco Systems Inc. are contributing to the region’s growth. In comparison, the Asia Pacific region is expected to exhibit the highest CAGR during the forecast period, driven by increased penetration of data centers and key players like Huawei Technologies Co., Ltd. and Fujitsu.
Cisco Systems developed an advanced virtualization platform to enhance data center performance in April 2024, focusing on network automation and security enhancements. The market is segmented by component, type, organization size, end-use, and regional analysis. SNS Insider offers consulting services like Go To Market Assessment, Total Addressable Market Assessment, and Competitive Benchmarking and Market Share Gain to provide clients with the knowledge needed to make informed decisions in changing circumstances.
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