Technavio released the latest market research report titled Global Data Center Security Solutions Market 2020-2024. It is estimated that the data center security solutions market grows by USD 5 billion during 2020-2024. The report also indicates the market impact and new opportunities created due to the COVID-19 pandemic. For the first quarter of 2020, a big impact on the data center market is expected, while the report shows a limited impact on the full-year economic growth. The North American region was the leader of the data center security solutions market in 2019, followed by APAC, Europe, South America, and MEA respectively.
Multiple security solutions for data centers
According to this latest market research report by Technavio, growing concerns of enterprises over data security have increased the demand for data center security solutions. Therefore, the shares of data center security solutions like hybrid cloud solutions, public cloud solutions, and multi-cloud environments are increasing in the market. The report indicates that the growing threat of cyber-attacks is expected to drive market growth during the forecast period.
A senior analyst at Technavio said,
“Factors such as the need to comply with regulations, and the increase in Internet traffic and rising demand for digitalization will have a significant impact on the growth of the data center security solutions market value during the forecast period.”
The growing popularity of software-defined data centers (SDDC) will have a positive impact on the market. The report confirmed that the contribution of SDDC will grow significantly over the forecast period. Additionally, IoT and OTT services are getting more popular for software-defined data centers among enterprises.
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