Market Scenario:
According to a new report by Market Research Future (MRFR), the global data center security market has been projected to reach USD 15 billion. The market is anticipated to showcase a staggering growth rate of 13 % over the assessment period (2017-2023) owing to the growing emergence of cloud-based technologies. Data center security focuses to make business data less accessible to hackers who are seeking for unauthorized access to data. Data center security finds its application in various industry verticals such as healthcare, retail, BFSI, manufacturing, IT and telecommunications.
Industry News
WISeKey International Holding Ltd., a leading IoT and cybersecurity company has announced the expansion of its data center business with Datrium which is a US based company in the converged storage market. WISeKey has been offering both international and local companies with cloud hosting solutions and data center colocation, thus developing a trust for delivering innovative technologies and secure data center solutions.
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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
Future Constraints and Drivers Impacting the Market Growth
The growing popularity of online shopping platforms and e-commerce industry along with the growing demand for mobile applications are some of the major factors fuelling the growth of data center security market globally. Increasing adoption of data center solutions and growing awareness regarding data security is also boosting the market growth during the assessment period. Also, the presence of technology giants like Dell Inc., Hewlett Packard, Cisco Systems Inc., Intel Corporation Honeywell International Inc., International Business Machines Corporation, Fortinet Inc., McAfee Inc., and others are expected to spur the market growth.
With the increasing acceptance of virtualization, cloud services, and big data, the demand for reliable and secure data storage has grown. Besides, with an increasing volume of critical data and confidential information, the importance of protecting the information has risen which further leads to the growth of the data security market.
Data Center Security Market Segmentation
Globally, the data center security market has been segmented based on data center type, component, vertical, and region.
The market has been segmented into services and solution on the basis of component. The solution segment has been further classified into physical security solution and logical security solution. The physical security solution has been segmented into facility security, perimeter security, computer room security, and rack level security. The facility security sub-segment is predicted to grow at the highest rate due to the growing demand for data centers across several industries. Moreover, implementation of big data analytics, cloud-based services, and IoT are the major factors fuelling the market growth.
The market has been segmented into large data center, mid-sized data center, and enterprise data center based on data center type. Among these, the large data center type is estimated to hold the largest market share owing to the growing adoption of security solutions in large enterprises. Mid-sized data center type is also anticipated to grow at the highest rate over the assessment period.
The market has been further segmented into IT and telecommunication, BFSI, government and defense, media and entertainment, and healthcare based on vertical. Among these, IT and telecommunication segment holds the largest market share, owing to the growing awareness about sophistication of attacks, emergence of new threats, and next-generation technology.
North America Accounted for the Largest Market Share
Geographically, the market has been segmented into North America, Asia Pacific, Europe, and Rest-of-the-World.
While North America has been accounted for the largest market share, the Europe is anticipated to grow at the fastest rate over the assessment period. The North American market growth can be attributed to growing adoption of mobile devices with NFC service enabled along with technological advancements across industry verticals.
Canada and U.S. are expected to dominate the North American market owing to technological advancements and increasing demand for data center security solutions. Also, with the implementation of cloud-based technology is another factor spurring the growth of the market globally.
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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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