Global Virtualization Software Market Size Forecast 2024 - 2033
19 Dec, 2024
What Is The Scope Of The Global Virtualization Software Market?
Virtualization software refers to programs or platforms that enable creating and managing virtual machines (VMs) or virtual environments within a physical computing system. This software is widely used in data centers, cloud computing environments, development and testing scenarios, and desktop computing to improve resource utilization, increase flexibility, and simplify management and deployment of IT infrastructure.
Virtualization Software Global Market Report 2024 provides data on the global virtualization software market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Virtualization Software market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Projections Can We Expect For The Size And Growth Rates Of The Global Virtualization Software Market?
The virtualization software market size has grown rapidly in recent years. It will grow from $73.74 billion in 2023 to $85.83 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%. The growth in the historic period can be attributed to server optimization, flexibility and agility, disaster recovery, legacy system support, and green IT initiatives. The virtualization software market size is expected to see rapid growth in the next few years. It will grow to $159.33 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to edge computing, containerization, hybrid and multi-cloud adoption, and security and compliance. Major trends in the forecast period include IoT integration, edge computing, AI and machine learning integration, and containerization adoption.
What Are The Core Factors Supporting Growth In The Virtualization Software Market?
Increasing demand for cloud-based services is expected to propel the growth of the virtualization software market. Cloud-based services provide scalable computing resources over the internet, offering benefits such as scalability, cost-effectiveness, and enhanced data security. Virtualization software optimizes resource allocation and management, maximizing server utilization and operational efficiency for cloud services. For instance, Eurostat highlighted a significant increase in European Union enterprises purchasing cloud computing services for various business needs, reflecting the growing reliance on cloud infrastructure. Therefore, increasing demand for cloud-based services is driving the growth of the virtualization software market. The virtualization software market size is projected to reach $2023 billion in 2023, $2024 billion in 2024, and $2028 billion in 2028.
Get Your Free Sample of the Global Virtualization Software Market ReportWhat Are The Major Segments Within The Global Virtualization Software Market?
The virtualization software market covered in this report is segmented –
1) By Type: Storage Virtualization, Application Virtualization, Network Virtualization, Hardware Virtualization, Server Virtualization, Operating System (OS) Virtualization, Other Types
2) By Platform: PC Virtualization, Mobile Virtualization
3) By Deployment: On-Premises Virtualization, Cloud-Based Virtualization
4) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
Which Trends Are Expected To Transform The Virtualization Software Market?
Companies in the virtualization software market are focusing on developing advanced solutions like single hybrid cloud data platforms to efficiently address diverse enterprise needs. A single hybrid cloud data platform integrates and manages data across both public and private cloud environments, enabling seamless operations. For example, in October 2023, Hitachi Ltd, a Japan-based electrical equipment manufacturer, introduced the Hitachi Virtual Storage Platform One. This platform streamlines the handling of large-scale, mission-critical tasks with a unified architecture that manages block, file, object, cloud, mainframe, and software-defined storage workloads through a single control plane. The platform is managed by an AI-enabled software stack, catering to various data environments.
What Is The Fastest Growing Region In The Virtualization Software Market?
North America was the largest region in the virtualization software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtualization software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.