The highly competitive vendor landscape of the global market for data center security features a large number of core IT solutions providers and several large enterprises dealing in the sector of digital technologies. So as to carve a more profitable growth trajectory in the market, companies have been putting increased emphasis on monetizing opportunities in new application areas and emerging markets, observes Transparency Market Research in a recent report. Companies are also observed to be more actively involved in R&D activities and strategic collaborations with the aim of tapping new application areas and expanding their product portfolios.
According to the report, the global data center security market will register a CAGR of 12.60% over the period between 2014 and 2022, rising to a revenue opportunity of US$ 11.77 bn by 2022.
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Software Segment Continues to Be Most Lucrative
Of the key components of a typical data center security solution, the software segment presently accounts for a dominant share in the market, accounting for a lion’s share in the overall valuation of the market at the beginning of forecast period of the report. The trend continues to remain strong and data center security software products continue to account for a significant share of the market to this date. The segment is likely to lead in terms of revenue valuation as well as market share, over the
forecast period as well.
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