Data Center Virtualization Market size is anticipated to cross USD 20 billion by 2030, according to the latest research report by Global Market Insights Inc.
The government initiatives to promote the digitalization of public data and significant investment by large-scale firms to provide data banks as the chief drivers of the industry. For instance, in March 2022, Microsoft, an American technology giant, announced its plan to develop a new sustainable data center region in Finland with the intent to transform and enable large-scale carbon-free district heating and migrate the servers to a unified cloud platform that can support them in systematically handling the facilities with more flexibility in terms of future expansion.
Rising need to reduce energy consumption
The server virtualization segment is estimated to grow at over 20% CAGR through 2030. The energy efficiency of data center server is set to fuel the technological demand in data center virtualization industry during 2022-2030. It divides a physical server into multiple unique and isolated virtual servers with the use of a software application, which reduces energy consumption and makes it a more cost-efficient option.
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Robust efforts to effectively build IT infrastructures
The strong focus of new or existing data center operators on designing the IT & telecom infrastructure systematically is speculated to spur the need for consulting services. The consulting services segment held a significant share in the data center virtualization industry in 2021 and is projected to attain more than 20% gains from 2022 to 2030.
Mounting adoption of telehealth and telemedicine
The healthcare application is slated to register around 15% growth between 2022 and 2030. The segmental development is attributed to the surging preference for telehealth and telemedicine technologies that are leading to massive data accumulation, bolstering the demand for high-quality data centers. Moreover, an increase in medical data will boost the need for the construction of robust IT infrastructure, compelling healthcare organizations to outsource their data center operations and propelling sector growth.
Browse key industry insights spread across 300 pages with 255 market data tables and 34 figures & charts from the report “Data Center Virtualization Market Size By Type (Server Virtualization, Network Virtualization, Storage Virtualization, Application Virtualization), By Service (Optimization Services, Consulting Services, Managed Services, Technical Support Services), By Application (BFSI, Colocation, Energy, Government, Healthcare, Manufacturing, IT & Telecom), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030”, in detail along with the table of contents:
South America to emerge as a prominent revenue pocket
The South America data center virtualization industry revenue is expected to record a valuation of about USD 1 billion by 2030. The region is foreseen to become a major hub for this market on account of rising use of various social media platforms. The proliferating user bases of the internet and social media across the South American industry is augmenting data generation thereby supporting regional business growth.
Product development to remain a vital growth strategy
The strategic landscape of the data center virtualization market will witness a series of partnerships and collaborations among enterprises from varied sectors, along with product range expansion by industry players. In July 2022, tech leader Cisco Systems Inc. introduced a new Webex Wholesale Route-to-Market (RTM) for service provider firms to cater to the prevailing needs of small- to mid-size businesses (SBMs). The innovation was devised to enable service providers to provide managed services for Webex, coupled with the scalability, agility, and flexibility to make their own co-branded offers. Some of the key industry players profiled in the report include Microsoft Corporation, Amazon Web Services, Cisco Systems Inc., IBM Corporation, Dell Inc., Huawei Technology, AT&T, Citrix Systems Inc., Nutanix, and SAP SE.