The global data center security market is estimated to exhibit a CAGR of 11.1% during 2018-2028, as indicated by a new research study of Future Market Insights (FMI). As the market penetration of data centers has proliferated, a corresponding increase in the demand for the security of its infrastructure and data has been witnessed worldwide. 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. A majority of these companies are among the leading providers of data centre security solutions and services, securing critical data stored at data centers of respective countries and regions.
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 virtualized 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 data center security market. However, owing to increasing enterprise virtualization, physical security solutions are expected to exhibit poor demand growth in the data center security market.
BFSI & Healthcare to Remain Highly Lucrative End-use Segments in Data Center Security Market
On the basis of end use, the report envisages higher rate of adoption of data center security within critical end-use verticals such as IT & telecom, BFSI, healthcare, government & defense, and media & entertainment. However, the rate at which data center security adoption has been rising in case of BFSI and healthcare segments will be particularly higher, reflecting several lucrative growth opportunities for the data center security market.
Fast Developing Asian Markets Generating High Demand for Data Center Security Solutions & Services
While North America will retain a dominant position in the global data center security market throughout the forecast period, FMI’s analysis points to a positive growth outlook emerging for some of the developing Asian countries, in the global data center security market. The report opines that the data center security services and solutions will witness strong demand from markets in East Asia and South Asia. Both the aforementioned regions are more likely to register higher CAGR in terms of revenue over the course of projection period.
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. However, as the lack of awareness about significance of data center security prevails among various underdeveloped and some of the developing countries, the consulting segment of the data center security market will exhibit a considerably high growth rate, opines the report.
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