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What`s New for 2022?
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Global Virtualization Software Market to Reach $149.4 Billion by 2026
Virtualization is a computer technology that is designed to create virtual versions of computer resources, rather than the actual versions of the same resources. Virtualization is typically performed via virtualization software and these programs are adept at extending the hardware of physical machine, storage system, or network and creating their virtual versions. Hypervisor, a virtualization program, is used to virtualize network components, storage, desktops, and applications. Hypervisors are either directly installed on hardware or are installed as layers on operating systems, between virtual machine and hardware. There are various different types of virtualization that can be applied for different purposes. The main types of virtualization include desktop virtualization, data virtualization, network virtualization, storage virtualization, sever virtualization, and application virtualization. Off late, the adoption rate of virtualization has been increasing, particularly with respect to network, server and storage virtualization.
Amid the COVID-19 crisis, the global market for Virtualization Software estimated at US$38.7 Billion in the year 2020, is projected to reach a revised size of US$149.4 Billion by 2026, growing at a CAGR of 25.4% over the analysis period. Network Function Virtualization, one of the segments analyzed in the report, is projected to record a 27.5% CAGR and reach US$77.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Desktop Virtualization segment is readjusted to a revised 22.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $17.6 Billion in 2021, While China is Forecast to Reach $16.5 Billion by 2026
The Virtualization Software market in the U.S. is estimated at US$17.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$16.5 Billion by the year 2026 trailing a CAGR of 27.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.4% and 24.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 21.4% CAGR.
Connected enterprises are growing in popularity for their ability to provide converged digital experiences to modern borderless customers and connect all levels of enterprise functions to help realize operational intelligence and productivity benefits via seamless delivery of knowledge across the enterprise. Given that mobile/remote workers are always required to stay in touch with corporate headquarters, and carry out functions such as making sales transactions, passing sales or purchase orders, and reporting productivity even while away from the office, a new wave of enterprise mobility has come into shape, with organizations allowing mobile employees to access company`s data through remote access points using their mobile communication devices such as laptops or smartphones. As dispersed web of managers and teams collaborate across geographic boundaries, technologies to enable mobility are becoming crucial and vital. In this regard, virtualization software are growing in popularity for their advantages and benefits.
Software-Defined Storage Segment to Reach $32.5 Billion by 2026
Storage virtualization is the grouping of several physical storage resources, in order to make them appear as a single storage device. Storage virtualization enables servers and applications to access data from storage arrays and there is no need to know on which virtual or physical device the information is stored. This method allows easy data backup and transfer between locations. Global market for Software-defined Storage (Technology) segment is estimated at US$8.1 Billion in 2020, and is projected to reach US$32.5 Billion by 2026 reflecting a compounded annual growth rate of 26.2% over the analysis period. The United States constitutes the largest regional market for Software-defined Storage segment, accounting for 37.4% of the global sales in 2020. United States is poised to register the fastest compounded annual growth rate of 29.2% over the analysis period, to reach US$18.3 Billion by the close of the analysis period.
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