PUBLISHER: Grand View Research | PRODUCT CODE: 1301194
PUBLISHER: Grand View Research | PRODUCT CODE: 1301194
The global data center virtualization market size is anticipated to reach USD 23.14 billion by 2030, growing at a CAGR of 16.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. The requirement for unified and centralized management of data centers and the mounting need to reduce operating costs for organizations and enhance business agility are key factors driving the market. Factors such as the rising demand to decrease data center complexity, increasing spending on data center technology, rising demand for enhanced network security, and adoption of optimization services will also contribute to the growth of the market.
Additionally, the COVID-19 pandemic has expanded the penetration of digital transformation. Growing adoption of smart devices, IoT, digital transactions, rising automation scope in manufacturing industries via industry 4.0 technologies, and potential for huge data generation in sectors including education, healthcare, BFSI, IT & telecom, and media & entertainment will accelerate the development of data centers, thereby fueling the market for data center virtualization.
More number of businesses are incorporating DevOps and cloud-native technologies onto the businesses development process, which has resulted in the lines between the modern container-based platforms and traditional virtualization platforms to blur; of which a major part can be attributed to organizations opting for cloud-native technologies in support of legacy applications or ones which is not suited for containerization. Organizations operate on a tightrope because they need to negotiate both worlds without burdening IT operations. This has resulted in more IT teams turning to composable disaggregated infrastructure (CDI). CDI can also provide resources on demand to accommodate different workloads, including applications running in VMs, bare metal, and containers in VMs.
The market players have been involved in various strategic initiatives, including partnerships, acquisitions, and mergers. Such initiatives have helped enhance product capability and have a wider sales channel, among others, which has accelerated the growth of the data center virtualization industry over the forecast period. For instance, in May 2023, Aligned Automation announced a partnership with Denodo Technologies to expand the Aligned Automation data virtualization capabilities, enabling the company to offer robust end-to-end data integration solutions. The partnership will enable businesses to have seamless, integrated access to prior siloed data, offer better ways to view and analyze data across enterprises, and increase effectiveness, maximizer efficiency, and cost optimization.