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(Wireless-NewsWire.Com, June 01, 2018 ) The data center security market is estimated to grow from USD 5.61 Billion in 2016 to USD 12.91 Billion by 2021, at a high Compound Annual Growth Rate (CAGR) of 15.36% during the forecast period. Network security is gaining a significant importance among the 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.
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The report provides detailed insights into the global data center security market, which is segmented by application solution, service, data center type, vertical, and region. By application solution, logical security solution holds higher market share than physical security solution. However, physical security solution is expected to show great growth opportunities within the next five years. The evolution of data center security solutions has observed a dramatic change. Earlier, the security solutions were generic in nature but today, with the advent of technology, advanced analytics and proactive tools have emerged that provide higher degree of data center security. Growing investment in data center security across the world and the increasing adoption of these solutions is further fueling the growth of the market.
The data center security market by data center type includes mid-sized data center, enterprise data center, and large data center. With the increasing adoption of the security solutions in large data centers, adoption of security solutions is also growing in mid-sized and enterprise data centers.
Data center security is considered crucial as it needs to address the network security as well as physical security of a data center. The data center security market is booming and during the forecast period, it is expected that adoption rate will increase and contribute to the high growth of this market. The report provides detailed insights into the global market. The market has been segmented into many industry verticals, namely, Banking, Financial, and Insurance Services (BFSI), IT & telecom, government & defense, healthcare, media & entertainment, and others where BFSI holds the largest market share, and government and defense accounts for the highest CAGR.
The report covers all the major aspects of the data center security market and provides an in-depth analysis across the regions of North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America. The market in North America is expected to hold the largest share of the market. The APAC region is projected to have great opportunities in this market and would grow at the highest CAGR by 2021 due to the presence of various developing countries, such as China, India, and the Philippines.
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Due to high prices, limited IT budgets, and high initial investment costs, organizations may find it difficult to adopt new and genuine solutions and services. Though the investments involved are huge, the enterprises are slowly getting aware of the importance and benefits of these security solutions, such as help in the smooth running of the business operations. Therefore, it is expected to strengthen its footprints in not only large enterprises but also in small and mid-sized enterprises.
Various vendors are coming up with innovative data center security solutions and products due to the emerging virtualization and cloud computing which is increasing the demands for advance, proactive, and efficient virtual security solutions. Cisco Systems is one of the dominant players in providing data center security solutions and services due to its decades of experience in networking, communication and data center security. Cisco focuses highly on developing new security related products, solutions, and services, which help the company to deliver a comprehensive portfolio for data center logical security. The company provides an innovative security solution, application centric infrastructure, which is effective in micro segmentation of data centers. This solution provides enhanced security for east-west traffic within the data center. The other major vendors in data center security market are Hewlett Packard Enterprises, International Business Machines (IBM) Corporation, Fortinet, Honeywell International, Schneider Electric SE, McAfee, Dell, and Robert Bosch Gmbh among others. These players adopted various strategies such as new product launches, partnerships, collaborations, and expansions to become competitive in the market.
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