LONDON--(BUSINESS WIRE)--The global data center security solutions market is expected to post a CAGR of over 13% during the period 2019-2023, according to the latest market research report by Technavio. However, the market's growth momentum will decelerate, owing to a decrease in the year over year growth.
A key factor driving the growth of the global data center security solutions market is the growing threat of cyber attacks. Factors including the advent of public cloud solutions, hybrid cloud solutions, and multi-cloud environments are contributing to the increased risk of cyber attacks. This has created a rising demand for data center security solutions across enterprises and organizations. Also, enterprises are increasingly investing in cloud solutions that offer enhanced security solutions given the new regulations governing data protection. Data center security solutions service providers are building partnerships to provide enhanced security services to tackle different issues such as vendor lock-ins. Thus, with increasing deployment of cloud services, the demand for data center security solutions will also rise in the forthcoming years.
As per Technavio, the popularity of software-defined data centers (SDDC) will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global data center security solutions market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global data center security solutions market: Popularity of SDDC
SDDC has been gaining popularity among enterprises with the emergence of IoT and OTT services. The need for software-defined security has grown in recent years due to the advent of SDDCs. Enterprises are aiming to utilize the available hardware resources through virtualization to reduce capital expenditure, increase operational performance, and reduce space constraints. This has led the stakeholders from the global data center market to incline toward SDDCs, which enables enterprises to adopt software-controlled security policies.
“SDDC offers several advantages, including storage virtualization, server virtualization, and network virtualization, which enables enterprises to utilize their hardware resources effectively. Also, enterprises are looking for SDDC solutions to reduce costs and enable the integration of security policies with application workloads,” says a senior research analyst at Technavio.
Global data center security solutions market: Segmentation analysis
This market research report segments the global data center security solutions market by type (logical security and physical security) and geographic regions (North America, APAC, Europe, South America, and MEA).
North America led the market in 2018, followed by APAC, Europe, South America, and MEA, respectively. The market growth in North America can be attributed to the increasing adoption of cloud services by enterprises across industries to reduce the operational and capital expenditure incurred by on-premise data centers.
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Five Forces Analysis
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