According to a new report published by UnivDatos Markets Insights, the Data Center Virtualization Market was valued at more than USD 8 billion in 2020 and is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into Type (Technical Support Services, Optimization Services, Managed Services, And Advisory & Implementation Services); Industry Vertical (IT & Telecommunication, BFSI, Education, Healthcare, Government, and Others); Region/Country.
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The data center virtualization market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the data center virtualization market. The data center virtualization market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the data center virtualization market at the global and regional levels.
Market Overview
Data center virtualization describes a process for designing, constructing, and advancing a data center using cloud computing and virtualization technology. The technology allows for the virtualization of physical servers as well as storage, networking, and other infrastructure-related devices and equipment in a data center facility. Virtualization contains a number of tools and services that let the data center carry out various tasks. The growing need to reduce enterprise operating costs and improve business agility are the key aspect behind the increasing revenue of the data center virtualization market. The increasing complexity of software will drive the growth of the market. Moreover, the increased adoption of private clouds and increased spending on data centers are expected to drive the market during the forecast period.
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VMware, Inc.; Microsoft; Citrix Systems, Inc; Cisco Systems, Inc; Fujitsu; Radiant Communications Corporation; Hewlett Packard Enterprise Development LP; AT&T; Huawei Technologies Co., Ltd; HCL Technologies Limited
COVID-19 Impact
The COVID-19 pandemic has had a significant impact on data center virtualization, with increased demand for cloud services being the most notable effect. As more people have transitioned to remote work and online learning, the need for virtualized data centers has grown rapidly. This has been driven by the increased use of online services for communication, collaboration, and entertainment. Overall, the pandemic has accelerated the trend toward cloud computing and virtualization, as businesses and individuals look for ways to operate more efficiently and effectively in a remote work environment.
The Global Data Center Virtualization Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on type, the market is segmented into technical support services, optimization services, managed services, and advisory & implementation services. The optimization services segment is expected to grow with the highest CAGR during the forecast period. Optimization services help enterprises in increasing network security and operational effectiveness which is expected to drive the segment market during the forecast period.
· On the basis of industry vertical, the market is segmented into IT & telecommunication, BFSI, education, healthcare, government, and others. The BFSI segment is expected to achieve a significant market share in 2020 and is expected to maintain this throughout the forecast period. The growth of data center virtualization in the BFSI segment is mainly attributed to the growing number of transactions across the globe. Moreover, the growing trend of digital payments in countries like China and India is expected to significantly influence the market growth during the forecast period.
Data Center Virtualization Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
The North American region dominated the data visualization market in 2020 and is expected to maintain a similar trend throughout the forecast period. The growth in data visualization in the region is mainly attributed to the growing number of SMEs in the region. For instance, according to SBA (Small Business Admiration) SME’s make up 99% of all U.S Businesses. Moreover, organizations in countries such as the U.S. and Canada are the early adopters of data center virtualization technology which is expected to propel the market during the forecast period.
The major players targeting the market include
· VMware, Inc
· Microsoft
· Citrix Systems Inc
· Cisco Systems Inc
· Fujitsu
· Radiant Communications Corporation
· Hewlett Packard Enterprise Development LP
· AT&T
· Huawei Technologies Co., Ltd
· HCL Technologies Limited
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Data Center Virtualization market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the data center virtualization market?
• Which factors are influencing the data center virtualization market over the forecast period?
• What are the global challenges, threats, and risks in the data center virtualization market?
• Which factors are propelling and restraining the data center virtualization market?
• What are the demanding global regions of the data center virtualization market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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