Overview and Scope
Data center security refers to the digital and physical support infrastructure and mechanisms that protect data center operations, applications and data against malicious attacks. Data center security aims to safeguard it from risks to the privacy, safety, or accessibility of commercial information resources or related intellectual property.
Sizing and Forecast
The data center security market size has grown rapidly in recent years. It will grow from $11.66 billion in 2023 to $13.57 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%. The growth in the historic period can be attributed to rising cybersecurity threats, demand for data privacy and compliance, increase in data generation, cloud computing growth.
The data center security market size is expected to see rapid growth in the next few years. It will grow to $23.64 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%. The growth in the forecast period can be attributed to increase in ransomware and extortion attacks, iot and edge computing security, adoption of zero trust security, increase in security automation. Major trends in the forecast period include technological advancements, artificial intelligence (AI) and machine learning (ML), advancements in multi-layered security, increased use of micro-segmentation.
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Segmentation & Regional Insights
The data center security market covered in this report is segmented –
1) By Component: Solutions; Services
2) By Data Center Type: Mid-Sized Data Centers; Enterprise Data Centers; Large Data Center
3) By Application: Physical Security Solutions; Logical Security Solutions
4) By Vertical: Banking, Financial Services and Insurance (BFSI); IT And Telecom; Government and Defense; Healthcare; Media And Entertainment; Other Verticals
North America was the largest region in the data center security market in 2023. The regions covered in data center security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Increased incidence of cyberattacks and data thefts is expected to propel the growth of the data center security market in the coming future. A cyber-attack is any effort to gain accessibility to a personal computer, computing system, or computer network without authorization to cause harm. Data theft, often known as information theft, is the unauthorized transmission or storage of personal, private, or financial information. This could involve login credentials, program code or algorithms and exclusive procedures or tools. The increased incidence of cyberattacks and data thefts is expanding the data center security market. It involves the processes and planning to keep data centers safe from threats, assaults and illegal access. For instance, according to the cybersecurity threatscape report by Positive Technologies, a Russia-based cybersecurity company, the number of cyberattacks increased by 17% in Q1 of 2021 compared to Q1 2020 and it increased by 1.2% compared to Q4 2020. Moreover, in June 2022, according to Forbes, a US-based business magazine, the average frequency of data breaches and cyberattacks rose by 15.1% in 2021 compared to the previous year. Therefore, the increased incidence of cyberattacks and data thefts drives the data center security market.
Key Industry Players
Major players in the data center security market are Google LLC, Dell Inc., Huawei Technologies Co. Ltd., Amazon Web Services Inc., Siemens AG, International Business Machines Corp, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., Broadcom Inc., Hewlett Packard Enterprise Development LP, Tyco International PLC, VMware Inc., Equinix Inc., NetApp Inc., Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Citrix Systems Inc., McAfee Corp., Checkpoint Software Technologies Ltd., Trend Micro Inc., Nutanix Inc., CyrusOne LLC, Coresite LLC, QTS Realty Trust Inc., Carbonite Inc., Acronis International GmbH, Nextlabs Inc., Veritas Technologies LLC. .
The data center security market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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San Francisco, 2 June 2020 — “Data Center Security Market Analysis By Regions (North America, Europe, Asia-Pacific, Latin America and Africa), Product, By Application And Segment Forecasts To 2025” Global Data Center Security Market size is expected to value at USD 15.49 billion by 2024.
The market is subject to witness a substantial growth due to the rising concerns regarding cyber-attacks and data breaches and increasing initiatives by government authorities to minimize threat-level to keep the integrity and sovereignty of the state.
Globally, the data center security market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest in research and development of the market.
Get a Free Sample Copy of Report @ https://www.millioninsights.com/industry-reports/data-center-security-market/request-sample The data centers are considered as a vital element of organization owing to benefits such as capability to store critical information and core assets involved in the various business processes such as critical customer information, intellectual property, and transaction records.
Safeguard of critical information can be achieved with the help of data center security.
Early adoption of the advanced data security solutions allows organization to protect and safeguard core assets by offering immunity at different levels of business processes.
The global Data Center Security Market size is expected to value at USD 15.49 billion by 2024.
Safeguard of critical information can be achieved with the help of data center security.
These factors are expected to foster the growth of data center security industry over the forecast period.Early adoption of the advanced data security solutions allows organization to protect and safeguard core assets by offering immunity at different levels of business processes.
The market is expected to display a high growth rate in the upcoming years owing to the vast increase in amount of businesses implementing cloud computing platforms and virtualization methods for their business information storage.Download Sample Report @ https://www.millioninsights.com/industry-reports/data-center-security-market/request-sampleIncreasing adoption of the various cloud computing platforms and virtualization methods leads to excessive vulnerabilities at different levels in the framework.
This creates a need to implement stringent measures to minimize vulnerabilities involving both logical and physical measures.
These factors are expected to boost the market demand for advanced data center security solution over the forecast period.Emergence of software-defined networking solutions and shifting trend towards Bring Your Own Device (BYOD) is predicted to drive demand for exclusive control and surveillance issues in the existing infrastructure of the data centers, thereby driving the market growth of data center security market in the upcoming years.The data center security industry is broadly categorized into five major segments based on end-user application such as IT & telecom industry, healthcare sector, banking & financial services industry (BFSI), retail companies, and research and development firms.
