Dublin, Sept. 30, 2024 (GLOBE NEWSWIRE) — The “Data Center Security Market – Forecasts from 2024 to 2029” report has been added to ResearchAndMarkets.com’s offering.
The data center security market is estimated to grow at a CAGR of 17.36%, from US$15.145 billion in 2024 to reach US$33.717 billion by 2029
The global data center security market is estimated to attain an increasing market share during the forecasted year as the growth in the total global demand for internet and data centers increases. Segmented by type, the mid-sized data centers are expected to have the largest market share in the global data center security market.
Additionally, the monitoring solutions in the physical security solutions category are anticipated to experience significant growth. The managed security services category of the service segment is forecasted to grow faster than the security consulting and professional services category. Under the industry vertical segment, the BFSI and the media & entertainment category will attain greater market share. The global data center security market is estimated to witness a major increase with the rising global data breaches and cyber security attacks.
The growing cases of cyber-attacks and data breaches worldwide are estimated to boost the global data center security market. Similarly, the increasing usage of the internet worldwide is estimated to grow the data center security market globally. With the global increase in internet usage, data generation worldwide has increased significantly, pushing the need for the data center security market.
Banking and financial services are expected to see faster adoption of data center security solutions over the forecasted period. This is due to the increasing concern among banking and financial service companies about the rise in cyber threats and attacks. The segment is witnessing a rapid and sudden increase in the adoption of data center security solutions as they provide optimum protection of personal and financially sensitive data, which is constantly increasing due to the rising number of users.
The increase in the demand for advanced security solutions while enabling enterprises to meet regulatory compliance is the major factor driving the data center security market growth. Other market drivers include virtualization and cloud computing, the growth in sophisticated attacks, and the rise in data traffic, which presents the immediate need for secured connectivity.
Restraints of the data center security market include piracy, limited budget IT, and availability of low-cost substitutes. Planning a data center budget is burdensome for companies due to the many variables that need to be considered. The old-style license and the maintenance software agreement are running 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.
Data Center Security Market Drivers:
Rising data breaches and cyber-attacks.
One of the major driving factors that is estimated to push the global market for data center security is forecasted to be the expansion of data breaches and global cyber attacks. The IT Governance UK, in its global data breaches report in 2023, observed a total incidents of about 2,814 breaches. In the same year, the total number of records breached was estimated at 8.214 billion.
The organization further stated that in 2023, DarkBeam, a UK-based organization, witnessed a breach of about 3.800 billion record breach, followed by about 1.523 billion record breaches of the Real Estate Wealth Network of the USA. The Indian Council of Medical Research (ICMR) and Kid Security witnessed a breach of about 815 million and 300 million, respectively, in the same year.
Increasing internet usage across the globe.
With the increase in global internet usage, the number of data generated worldwide increases, pushing the need for data center security. Furthermore, with the increase in global internet usage, multiple organizations across various industries marked their presence in the internet landscape, creating an increasing demand for data centers globally. The International Telecommunication Union (ITU), in its global statistics, stated that the globe has witnessed a significant increase in internet usage in recent years.
The ITU stated in its report that in 2021, about 4.9 billion individuals worldwide had access to the Internet, which was about 62% of the global population in the year. The number of individuals using the Internet increased to about 64%, or about 5.1 billion, in 2022 and grew to about 67%, or about 5.4 billion, in 2023.
North America is anticipated to hold a significant share of the Data Center Security Market.
North America holds the largest market share and is expected to grow at a decent CAGR on account of the high adoption of cloud computing solutions and the rise in the number of data centers in the region. Data protection is crucial for companies as cyber threats and data breaches can lead to heavy losses. Thus, strict regulations regarding data breaches are adopted, which is one of the key factors driving the data center security market.
Furthermore, the region is among the biggest technological and software markets globally, offering some of the biggest industry leaders in the nation. Countries like the USA and Canada also offer a developed data center landscape worldwide, increasing the market demand for data center security in the region.
The Data Center Security Market Products Offered by Key Companies:
- Trend Micro Incorporated,a global cybersecurity provider that offers solutions for multiple industries like healthcare, manufacturing, oil & gas, and electric utility, among others. The company offers multiple platforms that cater to various sectors, like endpoint security, cloud security, network security, and OT security. In the data center security market, the company offers data center security solutions, which are streamlined with protection across the data center, private cloud, and virtualization.
- Palo Alto Networksis a global cyber security provider that offers multiple products and solutions to industries such as public sectors, finance services, manufacturing, and healthcare. The company offers endpoint security, security operations, cloud-native application protections, and network security. In the data center security market, it offers Pan-OS 11.1 Cosmos.
The Data Center Security Market Key Developments:
- In May 2024,Flexxon introduced X-Phy Server Defender to its data center. X-Phy developed the server defender using Flexxon’s patented algorithms. The X-Phy Server Defender system is among the world’s first standalone AI-powered hardware solutions for data centers.
- In April 2024,Huawei Technologies Co. launched its latest Xinghe Intelligent Network Security Solution for the Asia Pacific. In the data center security market, the Huawei Independent Cyber Security Lab stated that the MRP anti-ransomware solution is about 100% effective in the anti-ransomware for the data center.
Companies Featured
- Cisco Systems, Inc
- Trend Micro Incorporated
- Dell Inc
- IBM
- Juniper Networks, Inc.
- Broadcom
- IAM Networks
- Fortinet, Inc
- RSI Security
- Securitas Technology
- Honeywell International Inc.
- Palo Alto Networks
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 128 |
| Forecast Period | 2024 – 2029 |
| Estimated Market Value (USD) in 2024 | $15.14 Billion |
| Forecasted Market Value (USD) by 2029 | $33.71 Billion |
| Compound Annual Growth Rate | 17.3% |
| Regions Covered | Global |
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Process
3. EXECUTIVE SUMMARY
3.1. Key Findings
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. DATA CENTER SECURITY MARKET BY TYPE
5.1. Introduction
5.2. Mid-Sized Data Centers
5.3. Enterprise Data Centers
5.4. Large Data Centers
6. DATA CENTER SECURITY MARKET BY SOLUTION
6.1. Introduction
6.2. Physical Security Solutions
6.2.1. Monitoring Solutions
6.2.2. Analysis and Modelling
6.2.3. Access control
6.2.4. Video Surveillance
6.3. Logical Security Solutions
6.3.1. Compliance Management and Access Control
6.3.2. Threat and Application Security Solution
6.3.3. Data Protection Solution
7. DATA CENTER SECURITY MARKET BY SERVICE
7.1. Introduction
7.2. Managed security services
7.3. Security Consulting
7.4. Professional services
8. DATA CENTER SECURITY MARKET BY INDUSTRY VERTICAL
8.1. Introduction
8.2. Banking and Financial Services
8.3. Manufacturing
8.4. Healthcare
8.5. Government
8.6. Media and Entertainment
8.7. Others
9. DATA CENTER SECURITY MARKET BY GEOGRAPHY
9.1. Introduction
9.1. North America
9.1.1. By Type
9.1.2. By Solution
9.1.3. By Service
9.1.4. By Industry Vertical
9.1.5. By Country
9.1.5.1. United States
9.1.5.2. Canada
9.1.5.3. Mexico
9.2. South America
9.2.1. By Type
9.2.2. By Solution
9.2.3. By Service
9.2.4. By Industry Vertical
9.2.5. By Country
9.2.5.1. Brazil
9.2.5.2. Argentina
9.2.5.3. Others
9.3. Europe
9.3.1. By Type
9.3.2. By Solution
9.3.3. By Service
9.3.4. By Industry Vertical
9.3.5. By Country
9.3.5.1. Germany
9.3.5.2. Spain
9.3.5.3. United Kingdom
9.3.5.4. France
9.3.5.5. Others
9.4. Middle East and Africa
9.4.1. By Type
9.4.2. By Solution
9.4.3. By Service
9.4.4. By Industry Vertical
9.4.5. By Country
9.4.5.1. Saudi Arabia
9.4.5.2. South Africa
9.4.5.3. Others
9.5. Asia Pacific
9.5.1. By Type
9.5.2. By Solution
9.5.3. By Service
9.5.4. By Industry Vertical
9.5.5. By Country
9.5.5.1. China
9.5.5.2. Japan
9.5.5.3. Australia
9.5.5.4. India
9.5.5.5. Others
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1. Major Players and Strategy Analysis
10.2. Market Share Analysis
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Competitive Dashboard
11. COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/7sn03g
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