Sarasota, FL — (SBWIRE) — 09/13/2017 — According to the report, global data center security market was valued at around USD 6.15 billion in 2016 and is expected to reach approximately USD 14.11 billion in 2022, growing at a CAGR of 14.85% between 2017 and 2022.
With a large number of businesses moving to cloud computing platforms and virtualization of data storage techniques, the traditional boundaries and perimeters of the networks are being eliminated. The end users need to be upgraded with new and efficient technology to tackle rising numerous threats and vulnerabilities. Thus, data center security encompasses all the measures taken to encapsulate the data center environment and protect it from intrusion. It needs to be safeguarded against attacks and manipulation at both physical and logical level, subsequently creating a need for a cumulative deployment of security infrastructure.
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The major factors driving the growth of data center security market is increasing adoption of cloud computing and virtualization and a threat to the stored information owing to the increasing number of cyber-attacks. However, lack of awareness about data security is hindering the growth of this market. Nonetheless, High growth in a number of new data centers and increasing adoption of advanced security solutions is presenting significant opportunities to the various established and new security solutions providers during forecasting period. In addition, government initiatives for data privacy and security due to increasing concerns in various sectors such as BFSI, government and public had proved to be a major contributing factor to the growth of data center security market.
Data center security market is fragmented into component and application. On the basis of the component, the market is segmented into solution and services. Solution segment is further fragmented into logical security and physical security. Services included in data center security market are consulting, integration and deployment and managed services. Applications of data center security are financial services, IT and telecom, government, education, healthcare, media & entertainment and others.
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North America will be expected largest share over the forecast period followed by Europe and Asia Pacific. Asia Pacific is estimated highest CAGR due to increasing need to secure data in various sectors such as BFSI, IT & telecom and others. Development of new data center is also giving traction to the data security market in Asia Pacific region.
Hewlett Packard Enterprises, International Business Machines (IBM) Corporation, CISCO Systems, Fortinet, and Honeywell International, among others, are the major data center security suppliers. The other key vendors include CheckPoint Software Technologies Limited, Dell Inc., Trend Micro Inc., Honeywell International, Citrix Systems, Inc., EMC Corp, McAfee Inc. (Intel Corp.), and Hewlett-Packard Enterprise, among other
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