DUBLIN, Jan. 18, 2023 /PRNewswire/ — The “Virtualization Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global virtualization software market reached a value of US$ 45.51 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 163.13 Billion by 2027, exhibiting a CAGR of 23.71% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Virtualization software refers to an advanced solution that stimulates the abstraction layer over the physical hardware for enabling organizations to operate two or more virtual operating systems (OS) in a single platform.
It offers flexibility, scalability, reliability, and optimal security, due to which it is used for disaster recovery, reducing downtime, enhancing productivity, performing instant provisioning, and optimizing overall work efficiency.
On account of these properties, virtualization software finds extensive application in various industrial segments. At present, it is commercially available in varying types, such as network, storage, application, and hardware virtualization.
The widespread adoption of virtualization software across various industrial verticals, such as information technology (IT), telecom, retail, corporate and banking, financing, servicing, and insurance (BFSI) sectors for optimizing data security represents the key factor driving the market growth.
In line with this, the sudden outbreak of coronavirus disease (COVID-19) pandemic across the globe has prompted organizations to adopt bring your own device (BYOD) and work-as-a-space (WaaS) corporate models for maintaining the ongoing business operations, which is acting as another growth-inducing factor.
Additionally, significant technological advancements and the introduction of network function visualization (NFV) and virtual customer premises equipment (vCPE) solutions for leveraging information technology (IT) virtualization technologies at reduced costs are contributing to the market growth.
Besides this, the advent of cloud services has further facilitated the need for virtualization software applications to enhance communication and meet the evolving network needs across organizations.
This, in turn, is supporting the market growth. Other factors, such as the proliferating sales of smart devices, the emergence of the fifth generation (5G) network and the escalating investments in the research and development (R&D) activities for launching advanced web-related solutions, such as fiber and broadband, are creating a positive outlook for the market.
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Key Questions Answered in This Report:
- How has the global virtualization software market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global virtualization software market?
- What are the key regional markets?
- What is the breakup of the market based on the platform?
- What is the breakup of the market based on the type?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global virtualization software market and who are the key players?
- What is the degree of competition in the industry?