According to a new research report "Data Center Security Market by Application Solutions (Logical Security Solutions and Physical Security Solutions), Service (Consulting, Integration and Deployment, and Managed Services), Data Center Type, Vertical, and Region - Global Forecast to 2021", The data center security market is expected to grow from USD 6.32 Billion in 2016 to USD 12.91 Billion by 2021, at a high Compound Annual Growth Rate (CAGR) of 15.36%. For the purpose of report, 2015 has been considered as the historical year and 2016 as the base year for performing market estimation and forecasting.
The data center security market size is estimated to grow at a high Compound Annual Growth Rate (CAGR) of 15.36% from 2016 to 2021. The global data center security market is witnessing a rapid growth due to the growing need for network virtualization and cloud computing. Network virtualization and cloud computing bring out higher work efficiency levels within the organization. Data center security solutions help in securing big data transfers and securing a network from any risk. Additionally, the growing adoption of Bring Your Own Device (BYOD) calls for advanced secured network solutions.
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Data center security product by application solution (logical and physical) to gain market prominence by the next five years
The data center logical security solution by application solution is expected to hold the largest market share during the forecast period. More than half of the total data center security market revenue is contributed by logical security solution type and the trend is expected to continue during the forecast period. The physical security solution is also projected to show great growth opportunities in the next five years.
The APAC data center security market is expected to be the fastest-growing region
Considering the regional trends of the data center security market, North America is projected to hold the largest market size. The market in APAC is in the growth phase and is the fastest growing regional data center security market. This is mainly attributed to the growing focus of the market players to the great opportunities in the data center security market due to the presence of many developing countries and infrastructure in this region. The Latin America and MEA regions also depict great potentials in terms of adoption of data center security solutions.
There are various companies that are coming up with innovative and efficient data center security solutions and services in this market due to the need for improved network security and business operations, globally. The major players offering data center security solutions and services are Hewlett Packard Enterprises, International Business Machines (IBM) Corporation, CISCO Systems, Fortinet, Honeywell International, Schneider Electric SE, and others. Moreover, there are various key innovators in the market that provide innovative data center security solutions.
The market is segmented based on application solutions that include physical security and logical security, and services which consists of consulting, integration & deployment, and managed services. Further, the data center security market is also segmented based on data center types, industrial verticals, and regions. The scope of the report covers detailed information regarding the major factors influencing the growth of the data center security market, such as drivers, restraints, opportunities, and challenges. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, partnerships, collaborations, expansions, and competitive landscape associated with the data center security market.
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