The latest research study “Virtualization Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global virtualization software market size reached US$ 45.51 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 163.13 Billion by 2027 exhibiting a CAGR of 21.50% during 2022-2027.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Virtualization software is an advanced solution that creates an abstraction layer over computer hardware. It is widely available in varying types, such as network, application, desktop, data, cloud, storage, and CPU virtualization. These solutions enable organizations to operate two or more virtual operating systems (OS) and manage operating systems and numerous applications on a single server. They provide scalability, reliability, flexibility, and optimal security. They are also employed to enhance productivity, perform instant provisioning, reduce downtime, disaster recovery, and optimize work efficiency. Owing to these properties, virtualization software finds extensive applications across various industrial segments.
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Virtualization Software Market Trends and Drivers:
The market is primarily driven by the rising product adoption across telecom, information technology (IT), retail, corporate and banking, financing, servicing, and insurance (BFSI) sectors for optimizing data security and minimizing cost and downtime.
In addition, the sudden outbreak of coronavirus disease (COVID-19) pandemic has prompted organizations to implement bring your own device (BYOD), work from home (WFH), and work-as-a-space (WaaS) corporate models for sustaining the ongoing business operations. This, coupled with significant technological advancements, such as the introduction of network function visualization (NFV) and virtual customer premises equipment (vCPE) solutions for leveraging information technology (IT) virtualization technologies at reduced costs, is strengthening the market growth.
Furthermore, the advent of cloud services, the surging sales of smart devices, and extensive research and development (R&D) activities conducted by key players to launch advanced web-related solutions are some of the other factors augmenting the market growth.
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|Virtualization Software Market Report Scope|
|Market size value in 2021||US$ 45.51 Billion|
|Market forecast in 2027||US$ 163.13 Billion|
|Growth Rate||CAGR of 21.50% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Platform and Type.|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Key companies profiled||Amazon.com Inc., Citrix Systems Inc., Datadog, Google LLC, Huawei Technologies Co. Ltd., International Business Machines Corporation, Microsoft Corporation, Nutanix Inc., Oracle Corporation, Parallels International GmbH (Corel Corporation), SolarWinds Corporation and VMware Inc.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization purview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
The report has been segmented the market into following categories:
Breakup by Platform:
• PC Terminal
• Mobile Terminal
Breakup by Type:
• Storage Virtualization
• Application Virtualization
• Network Virtualization
• Hardware Virtualization
• Server Virtualization
• OS Virtualization
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
List of Major Key Players:
The major players in the market are Amazon.com Inc., Citrix Systems Inc., Datadog, Google LLC, Huawei Technologies Co. Ltd., International Business Machines Corporation, Microsoft Corporation, Nutanix Inc., Oracle Corporation, Parallels International GmbH (Corel Corporation), SolarWinds Corporation and VMware Inc.
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