$6+ Billion Data Center Security Global Market to 2026 - by Type, Solution, Service, Industry Vertical and Geography - ResearchAndMarkets.com

The "Data Center Security Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.

The global data center security market is estimated to grow at a CAGR of 17.77% to reach US$21.858 billion in 2026 from US$6.958 billion in 2019.

Companies Mentioned

• McAfee, LLC
• Cisco Systems, Inc
• Trend Micro Incorporated
• Dell Inc
• IBM
• Hewlett Packard Enterprise Development LP
• Juniper Networks, Inc.
• Broadcom
• IAM Networks
• Fortinet, Inc

The data being generated by the various end-user industries, due to the growing penetration of the internet with the increasing usage of internet services, is boosting the demand for the construction of data centers to manage, save and control the data effectively. The largest data center users including enterprises and hyperscale cloud companies optimizing their data centers globally were seen in 2019. According to Cisco, the global cloud data center traffic is expected to reach 20.6 zettabytes (ZB) per year by 2021 from 6.0 ZB per year in 2016. Cisco expects to witness 628 hyperscale data centers in 2021 worldwide in comparison to 228 in 2016. This, in turn, is leading to an increase in the demand for data center security solutions as there are many security concerns associated with the management of data centers and can lead to the destruction, loss, and hacking of data, therefore, leading to a surge in the market growth over the forecast period.

There has been an increase in cybercrime and cyberattacks to steal the data and use the data for inappropriate uses. According to the report and statistics by the US Securities and Exchange Commission, the cost associated to completely recover from a data breach increased from US$ 4.9 million in 2017 to US$7.5 million in 2018.

Risk has been increasing rapidly due to information breaches from third-party vendors, information theft, and cyber-attacks. Hence, growing cases of data breaches and cyber-attacks are pressurizing enterprises across various industries to opt for data center security solutions to avoid compromising any function of the organization and to avoid the damage regarding revenue generation, thereby positively impacting the market growth.

Restraints of the market of the data center security market include piracy, limited budget of IT, and availability of low-cost substitutes. Planning a data center budget is burdensome for companies due to its many variables that need to be taken into account. Also, the old-style license and the maintenance software agreement are running of the stream. The market players are taking this restraint into account and are offering subscription-based pricing thus removing underlying costs from the data center budget.

The increase in the demand for advanced security solutions while enabling enterprises to meet regulatory compliance is the major factor driving the market growth of the data center security market. Other drivers of the data center security market include virtualization and cloud computing, growth in the number of sophisticated attacks, and the rise in data traffic which is presenting the immediate need for the secured connectivity. Further, the monitoring solutions and capabilities are one of the driving factors of the data center security solutions. Physical threat to the data center includes human error, cooling, air quality, leaks, and power. Power, fire-related and cooling threats are being monitored by the built-in capabilities of power, cooling device, and fire suppression. Rising dynamic power variations and power density are the two key factors that are leading to the replacement of the conventional personnel-based monitoring systems.

COVID-19 Impact.

Security is important during normal times as it protects the companies against a cyber threat but the value has increased exponentially during the coronavirus pandemic as there are unforeseen threats on the horizon that could destroy the business infrastructure and its system. Covid-19 pandemic led to accelerated usage of data on account of an increasing number of users resulting in demand for bandwidth and storage capacities. Individuals such as students, the government, and the private sector have started using digital means to operate their business or profession. The government of India is taking initiatives such as Digital India and is emphasizing self-reliance and data protection by the data localization which is expected to increase the volume of data in the country thus leading to a rise in the demand for cloud service and data centers. Further in India, the government is planning to roll out a data center policy enabling the private sector to establish data center parks in the country these include incentive schemes.

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics

5. Data Center Security Market Analysis, By Type

6. Data Center Security Market Analysis, By Solution

7. Data Center Security Market Analysis, By Service

8. Data Center Security Market Analysis, By Industry Vertical

9. Data Center Security Market Analysis, By Geography

10. Competitive Environment and Analysis

11. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/k5m4ww

View source version on businesswire.com: https://www.businesswire.com/news/home/20210617005674/en/