Due to the increase in the frequency of cybercrime and data hacking activities, enterprises have started focusing on the adoption of better security solutions for securing the information deployed on the cloud as well as on-premises and strengthening internal security structures. Increasing awareness about the adoption of data center security solutions is thus among the primary factors boosting the adoption of data centers across the globe, and this is contributing to the growth of the global data center security market in terms of value. Moreover, the increase in the number of initiatives undertaken by the governments of various developed and developing countries has also boosted the global data center security market. The increasing penetration of the internet and the ease of data storage & management over the internet has led to the virtualization of workplaces and enterprises. Enterprises are thus adopting enhanced data security solutions and cybersecurity solutions such as data center security solutions and services.
The global data center security market size is predicted to reach over USD 11.9 billion in 2020 and projected to grow at a CAGR of 13.6% over the forecast period. This can be ascribed to the increasing development of sophisticated technology and vast amounts of data. The increasing construction of hyperscale data centers, rising colocation investment across data centers, and advancements in video analytics and cloud-based analytics will boost the market size of data center security.
However, limited IT budgets, availability of low-cost substitutes, and piracy are hampering the market growth. Furthermore, the requirement for more data centers, micro-segmentation for enhanced data center security, and Integrating logical and physical security solutions are likely to provide lucrative development opportunities for the data center security market in the forthcoming years.
Data Center Security Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 11.9 billion|
|Growth Rate||CAGR of 13.6% during 2021-2028|
|Segment Covered||Solution, Services, Application, Region|
|Regions Covered||North America, Europe, Asia Pacific, Rest of World (RoW)|
|Key Players Profiled||IBM, MacAfee, HP, Schneider Electric, Dell, Symantec, Check Point Software Technologies, Cisco Systems, Juniper Networks, Fortinet Inc., LLC, Citrix Systems, Siemens, Amazon Web Services, VMware Inc., and Huawei Technologies Co.|
Key Segments of the Global Data Center Security Market
Solution Overview, 2021-2028 (USD Million)
- Logical Security Solution
- Physical Security Solution
Services Overview, 2021-2028 (USD Million)
- Managed Security Services
- Security Consulting
- Professional Services
Application Overview, 2021-2028 (USD Million)
- Information Technology and Telecom
Regional Overview, 2021-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of World (RoW)
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global data center security market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global data center security market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the data center security market industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on Solution, Services, and Application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global data center security market. The report will benefit Every stakeholder involved in the data center security market.
- Managers within the data center security market industry looking to publish recent and forecasted statistics about the global data center security market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global data center security market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The growth in the data centers is driven by factors such as increased data traffic arising from a multitude of devices and increased adoption of data security solutions. Organizations are working toward improving the centers to support increasing data storage needs and to control cyber-attacks. The increasing demand for large-scale data services is generating an increasing demand for the physical security solutions that safeguard the data. Network security is gaining significant importance among corporates due to the increasing number of untrusted devices accessing their networks. Hence, the adoption of NAC in various industries is increasing, which is one of the major growth factors of the market.
Data center security is considered crucial as it needs to address the network security as well as the physical security of a data center. The data center security market is booming and during the forecast period, it is expected that the adoption rate will increase and contribute to the high growth of this market. For instance, governments and public sectors across the globe are putting high emphasis on data center security and data privacy. These sectors are experiencing a high usage and dependence on IT and telecommunication infrastructures to increase the efficiency and reliability of the data stored on the servers.
The increased need and demand for scalable data centers coupled with rising virtualization and adopting cloud computing solutions is a key data center security market growth driving factor. The increasing need for higher density servers coupled with the rising number of sophisticated attacks will further aggravate the demand for data center security. Rising data centers across the globe and rising data traffic will create more lucrative growth opportunities for the data center security market. Rising demand for secured connectivity among the population will also bolster the market growth rate.
However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries.
Based on the Solution segment, the market is bifurcated into Logical Security Solutions and Physical Security solutions. The logical security solution is expected to exhibit the highest CAGR rate due to the increasing virtualization of enterprises.
Based on the Services, the market is segmented into managed security services, service consulting, and professional services. The market for service consulting is anticipated to possess the largest Market share in 2020. The other two segments are anticipated to grow contributing to the overall service segment.
Based on the Application, the market is segmented into BFSI, Healthcare, Energy, Information Technology and Telecom, Government, and Others. The market for the BFSI sector is anticipated to possess the largest market share due to the high adoption rate of new technologies that have become an obligatory requirement for financial institutions that are strongly focusing on combating hacking.
North America is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the data center security market in this region is mostly ascribed to the uprising technological advancements and enhancements. Also, there is increasing demand for data center security solutions and services all across various enterprises in this region. However, the growth in the Asia Pacific and Europe region is likely due to the presence of developing countries like China and India.
The major players of the global factoring market are IBM, MacAfee, HP, Schneider Electric, Dell, Symantec, Check Point Software Technologies, Cisco Systems, Juniper Networks, Fortinet Inc., LLC, Citrix Systems, Siemens, Amazon Web Services, VMware Inc., and Huawei Technologies Co. Renowned companies are offering new and modern data center security solutions. In addition, the previously recognized as well as new market players are approaching the market with an advanced and new strategy to remain competitive in the global market.