Blossoming data centres directly fuelling security market
The constant demand for data – and consequently, data centers – is set to have a positive impact on the data center security market.
That's according to the latest study from research analyst Future Market Insights (FMI), which forecasts the market to undergo a compound annual growth rate (CAGR) of 11.1 percent during the 2018-2028 period.
As the market penetration of data centers has proliferated, a corresponding increase in the demand for the security of its infrastructure and data has taken place around the world.
FMI asserts one of the key trends governing the growth of the global data center security market is the increasing number of initiatives undertaken by several regional governments in collaboration with various Tier-1 and Tier-2 companies.
The bulk of these companies are the top players in data center security solutions and services, working with critical data stored within facilities in regions and countries around the globe.
According to FMI analysis, in addition to joint initiatives of governments and key players, the data center security landscape has been witnessing a surge in the frequency of introduction of virtualised data center security solutions via collaborations between multiple channel partners.
While these channel partners aspire stronger market presence, their joint activities are likely to create a new trend wave in the data center security market. However, owing to increasing enterprise virtualisation, physical security solutions are expected to exhibit poor demand growth in the data center security market.
In terms of end-user, the top performing verticals in terms of growth will be IT - telecom, banking, financial services - insurance (BFSI), healthcare, government - defence, and media - entertainment. However, of these top performers, it will be the BFSI and healthcare segments with the most lucrative growth opportunities for the data center security market.
While FMI expects North America to maintain its dominant position at the top of the global data center security market throughout the forecast period, the research analyst expects there to be very positive growth in some of the developing Asian countries with strong growth particularly within East Asia and South Asia.
Due to the increasing adoption of data centers across all-sized enterprises, including SMEs within rapidly developing economies such as Indonesia, India, and China, FMI estimates relatively higher demand for data center security solutions and services within these countries over the coming years.
Some of the top players FMI has identified in the global data center security market include Checkpoint Software Technologies, Hewlett Packard Enterprise, Citrix Systems, Fortinet, Dell EMC, Honeywell International, Future Net Solutions, IBM Corporation, McAfee, LLC, Juniper Networks, Schneider Electric, Robert Bosch GmbH, Trend Micro, and Symantec Corporation.