Dublin, Oct. 31, 2023 (GLOBE NEWSWIRE) -- The "Virtualization Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The virtualization software market has achieved remarkable growth, with the global market size reaching US$57.3 billion in 2022. The latest report by [Publisher] predicts that the market will continue its upward trajectory, targeting US$190.7 billion by 2028, exhibiting a robust compound annual growth rate (CAGR) of 20.53% during the period of 2023-2028.
Virtualization software is an advanced solution that creates an abstraction layer over physical hardware, enabling organizations to operate multiple virtual operating systems (OS) on a single platform. This technology offers flexibility, scalability, reliability, and optimal security, making it invaluable for disaster recovery, reducing downtime, enhancing productivity, instant provisioning, and optimizing work efficiency. It is widely used across various industries, including IT, telecom, retail, BFSI, and more. Virtualization software comes in various types, such as network, storage, application, and hardware virtualization.
Key Trends Driving the Virtualization Software Market:
- Increased Adoption Across Industries: The adoption of virtualization software across various industrial verticals, including IT, telecom, retail, BFSI, and more, is a significant driver of market growth.
- Response to COVID-19: The COVID-19 pandemic prompted organizations worldwide to adopt "Bring Your Own Device" (BYOD) and "Work-As-A-Service" (WaaS) corporate models, further fueling the demand for virtualization software.
- Technological Advancements: Significant technological advancements, including the introduction of network function virtualization (NFV) and virtual customer premises equipment (vCPE) solutions, are reducing IT virtualization costs, driving market growth.
- Cloud Services: The advent of cloud services has increased the need for virtualization software applications to enhance communication and meet evolving network needs, contributing to market expansion.
- 5G and Smart Devices: Proliferating sales of smart devices and the rollout of 5G networks are creating a positive outlook for the virtualization software market.
- R&D Investments: Escalating investments in research and development (R&D) activities for advanced web-related solutions, such as fiber and broadband, are further boosting market prospects.
Key Market Segmentation:
The report provides a comprehensive analysis of the global virtualization software market, including forecasts at the global, regional, and country levels from 2023 to 2028, categorized based on platform and type.
Breakup by Platform:
- PC Terminal
- Mobile Terminal
Breakup by Type:
- Storage Virtualization
- Application Virtualization
- Network Virtualization
- Hardware Virtualization
- Server Virtualization
- OS Virtualization
- Others
Breakup by Region:
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
Competitive Landscape:
The competitive landscape of the industry is analyzed in-depth, with profiles of key players including 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 and what are the future projections?
- What impact has COVID-19 had on the market?
- What are the key regional markets?
- What is the market breakdown by platform and type?
- What factors are driving and challenging the industry?
- Who are the key players in the global virtualization software market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 144 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $57.3 Billion |
| Forecasted Market Value (USD) by 2028 | $190.7 Billion |
| Compound Annual Growth Rate | 22.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/1ezans
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