Data Center Virtualization Market Size

Data Center Virtualization Market Size

Data Center Virtualization Market size surpassed USD 5 billion in 2021 and is projected to grow at over 15.5% CAGR between 2022 and 2030. The increasing awareness pertaining to the benefits of cloud-based data storage and consumer inclination toward digital transformation will bolster the industry growth.

An upsurge in energy consumption from data centers, especially in Europe, is likely to boost the market demand. Data center virtualization utilizes virtualization software with cloud computing technology to replace the traditional physical servers and other related equipment.

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The growing emphasis of enterprises functioning in the BFSI sector on transferring data to cloud platforms to improve the business agility is foreseen to impel the data center virtualization market growth. Companies are majorly engaging in strategic growth partnerships with public and private organizations in varied sectors that require digitalization of their data. They are also focusing on enhancing their flexibility and reliability by incorporating data center infrastructure.

Limited knowledge regarding data centers may restrain industry progression

Lack of awareness among companies regarding virtualization technology is a major factor restraining the industry statistics. Many companies possess limited knowledge and information about the transition from physical hardware infrastructure to virtual set-up covering different aspects of the data centers, such as servers, storage, networking, and application. Nonetheless, the increasing establishment of data centers in various regions is set to foster product outlook.