Press Release / Technology / Data Center Security Market Trends, Growth, Segment Analysis and Forecast to 2023

Data Center Security Market Trends, Growth, Segment Analysis and Forecast to 2023

Market Highlights:

The global data center security market is projected to witness a rapid growth during the forecast period. Increasing emergence of cloud-based technologies is a major factor driving the growth of the market. Moreover, increasing demand for data center security across various industry verticals such as BFSI, healthcare, manufacturing, retail and IT & telecommunications is fueling the growth of the global market.

Increasing trend of cloud computing solutions and growing popularity of cloud based services are the major factors driving the growth of the market. Symantec Corporation focuses on providing security hardening and monitoring for private cloud and physical data centers. Focus towards the promotion of implementing cloud computing solutions is increasing due to the convenience provided to the end users and growing trend of digitalization is another factor responsible for fueling the growth of data center security market.

Meanwhile, increasing demand for mobile applications and growing popularity of e-commerce and online shopping platforms are other major factors driving the growth of the global data center security market. Furthermore, increasing awareness regarding the security of data and increasing adoption of data center solutions is boosting the growth of the market.

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Major Key Players

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

According to MRFR, The global Data Center Security Market is projected to reach USD 15 billion at a CAGR of over 13% by the end of the forecast period 2017-2023

Segmentation:

The global data center security market has been segmented on the basis of component, data center type and vertical. The component segment is further classified into solution and services. The solution segment is classified into physical security solutions and logical security solutions. The logical security solutions segment is further classified into threat and application security and data protection and infrastructure security. The threat and application security type sub segment is expected to hold the largest market share of the data center security market. Whereas, data protection and infrastructure security type sub segment is expected to grow at the highest rate during the forecast period. However, the rising costs and limited IT budgets and high initial costs of investment may hamper the market growth.

The vertical segment of the global data security market is further segmented into BFSI, healthcare, IT & telecommunication, media & entertainment, government & defense and others. However, IT & telecommunication sub segment is expected to hold the largest share of the data center security market. This is owing to the increased implementation of cloud based services and growing popularity of internet of things. Moreover, the market is witnessing a considerable growth in demand for data center security with the advent of big data analytics. Increasing adoption of cloud computing solutions is another major factor driving the growth of data center security market.

Regional Analysis:

The global data center security market is studied for Asia Pacific, North America, Europe, and the Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas, Europe is projected to grow at the fastest rate during the forecast period. The North American market growth is attributed to technological advancements and increased adoption of mobile devices enabled with NFC services across various industry verticals.

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Intended Audience:

Technology Investors
Research/Consultancy firms
Technology Solution Providers
System Integrators
Consulting Services providers
Government Bodies
Hospitality Sector
Telecom Operators
IT Services Provides
Cloud Services Providers
Data Center Vendors
Internet Service Providers (ISPs)
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