As per the report published by Fior Markets, the global data centre security market is expected to grow from USD 7.19 billion in 2018 to USD 19.58 billion by 2026 at a CAGR of 15.61% during the forecast period from 2019-2026. Adoption of virtualization and cloud deployments, presence of major players, and rapid technological advancements are some of the factors that led to the growth of data centre security market in North America region.
Data Centre Security Market by Component (Solution, Services), Application(Aerospace and Defense, Financial Services, IT and Telecom, Government, Others), Region and Global Forecast 2019-2026.
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Prominent companies in the industry include CheckPoint Software Technologies Limited, Hewlett Packard Enterprises, Citrix Systems, Fortinet, Inc., Dell EMC, Honeywell International Inc., FutureNet Solutions, Inc., IBM Corporation, McAfee, LLC, Juniper Networks, Inc., Schneider Electric, Robert Bosch GmbH, Trend Micro Incorporated, Symantec Corporation, Juniper Networks Inc., Allegion, Arecont Vision, AssaAbloy, Axis communications, BOON Edam,FutureNet Security Solutions, Hangzhou Hikvision Digital Technology, and others are offering greater opportunities and major players are continuously focused on new product developments and venture capital investments to obtain market share.
Component segment is divided into solution and services. The solution segment is further divided into logical security and physical security. The logical security segment is further segmented into threat and application security, compliance management, data protection, access control, and others. The physical security segment is further segmented into surveillance solution, monitoring solution, access control, and others. The solution segment is further divided into consulting, integration and deployment, and managed services. The solution segment valued around USD 3.98 Billion in 2018 due to growing need for data center security solutions and development of virtualized data centre security solutions. Application segment includes aerospace and defense, financial services, IT and telecom, government, healthcare, media & entertainment, and education. The IT and telecom segment is anticipated to grow with highest CAGR 16.48% over the forecast period. The increasing amount of awareness about the emergence of new threats, the sophistication of attacks, and the next generation technology is motivating the demand in the IT and telecom segment.
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Increasing data traffic and need for secured connectivity, rise in cyber threats, and growing adoption of virtualization and cloud technology are the key driving factors for the data centre security market. The limited IT budgets, availability of low-cost substitutes, and piracy as well as lack of awareness may limit the growth of market. However, rising number of new data centers, joint initiatives undertaken by several regional governments and key players, and technological advancement is expected to boost the data centre security market in upcoming years.
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