The report defines and segments the global data center security market into various sub-segments with in-depth analysis and forecasting of revenues. It also identifies drivers and restraints for this market with insights into trends, opportunities, and challenges. MarketsandMarkets has segmented the global data center security market by type of security solutions: logical security solutions and physical security solutions; by end users and environments: cloud provider environment, colocation environment; by type of enterprise data center environments verticals: Banking and Finance Services Insurance (BFSI), government, public sector and utilities, telecommunication and IT, healthcare and life sciences and other sectors; by data center facility size: portable/modular data centers, small data centers, medium data centers, large data centers, mega data centers; by geographies: North America (NA), Asia Pacific (APAC), Europe (EU), Middle East and Africa (MEA) and Latin America(LA).
The increasing growth of mega data centers globally, along with increased global IT spending and a significant rise in the spending of enterprises for the security solutions is playing a pivotal role in shaping the future of security market for data centers. Even though there is a need of integrated physical as well as logical security solutions for data center security, both the solutions are independently implemented to secure the facility. Major companies are trying to integrate both the security solutions on a single platform for ease of implementation and to reduce the total cost of ownership.
The major forces driving this market are the increasing data traffic and network connections, virtualization of the data centers, increasing cyber attacks with physical attacks and insider threats. There has been also a significant increase in the growth of mega data centers globally. The current market for IT is also looking at the increased global spending on IT solutions and services with a significant rise in the spending for the security solutions to safeguard vital data and critical IT infrastructure. The data center security solutions and service providers are looking forward to gain a better competitive advantage in this growing market, thereby creating new solutions and intelligent and integrated security platforms for securing the data centers globally.
The global data center security market is estimated to be $6.46 billion in 2013 and is expected to grow to $13.77 billion in 2018. This represents a Compound Annual Growth Rate (CAGR) of 16.3% from 2013 to 2018. In the current scenario, BFSI vertical continues to be the largest adapter for data center security solutions followed by Telecommunication and IT. In terms of regions, North America is expected to be the biggest market, while Europe and Asia-Pacific (APAC) is expected to grow at a significantly faster pace in the coming years. MarketsandMarkets further expects that the integration and collaboration of physical and logical security solutions into a single platform will further enhance the growth of the market, while ensuring the security compliance and regulatory policies.
Source: ASDReports - Market Research
Date: Jun 11, 2013