Global Virtualization Software Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

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.

Sizing and Forecast

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.

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Segmentation & Regional Insights

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

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.

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Major Driver Impacting Market Growth

Increasing demand for cloud-based services is expected to propel the growth of the virtualization software market going forward. Cloud-based services refer to computing resources, such as storage, processing power, and software applications, accessed over the internet instead of hosted locally on a user’s device or network. The increased demand for cloud-based services is due to their scalability, cost-effectiveness, enhanced collaboration, data security, and accessibility benefits. Virtualization software enables efficient resource allocation and management, allowing cloud-based services to maximize server utilization, streamline operations, and provide scalable computing resources on demand. For instance, in December 2023, according to Eurostat, a Luxembourg-based intergovernmental organization, around 45.2% of European Union enterprises purchased cloud computing services to host their email systems, store electronic files, and accomplish other tasks. EU enterprises’ purchasing of cloud computing services increased by 4.2 percentage points in 2023 compared to 2021. About 44% of traditional small businesses use cloud infrastructure or hosting services, while 66% of small tech companies and 74% of enterprises utilize cloud services. Therefore, increasing demand for cloud-based services is driving the growth of the virtualization software market.

Key Industry Players

Major companies operating in the virtualization software market are Amazon.com Inc., Google LLC, Microsoft Corporation, Huawei Technologies Co. Ltd., International Business Machines Corporation, Oracle Corporation, Broadcom Inc., Citrix Systems Inc., Datadog Inc., Nutanix Inc., Palo Alto Research Center Incorporated (PARC), Veeam Software Corporation, Corel Corporation, Scale Computing Inc., NComputing Co. Ltd., Canatu Oy, Tekscan Inc., FlexEnable Limited, Lynx Software Technologies Inc., TenAsys Corporation, OpenStack Foundation

The virtualization software market report table of contents includes:

1. Executive Summary

2. Virtualization Software Market Characteristics

3. Virtualization Software Market Trends And Strategies

4. Virtualization Software Market – Macro Economic Scenario

5. Global Virtualization Software Market Size and Growth
…..

32. Global Virtualization Software Market Competitive Benchmarking

33. Global Virtualization Software Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Virtualization Software Market

35. Virtualization Software Market Future Outlook and Potential Analysis

36. Appendix

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