Virtualization Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Virtualization Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:

The global virtualization software market size reached US$ 57.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 190.7 Billion by 2028, exhibiting a growth rate (CAGR) of 20.53% during 2023-2028.

Virtualization software refers to an advanced solution that stimulates the abstraction layer over the physical hardware for enabling organizations to operate two or more virtual operating systems (OS) in a single platform. It offers flexibility, scalability, reliability, and optimal security, due to which it is used for disaster recovery, reducing downtime, enhancing productivity, performing instant provisioning, and optimizing overall work efficiency. On account of these properties, virtualization software finds extensive application in various industrial segments. At present, it is commercially available in varying types, such as network, storage, application, and hardware virtualization. 

Virtualization Software Market Trends:

The widespread adoption of virtualization software across various industrial verticals, such as information technology (IT), telecom, retail, corporate and banking, financing, servicing, and insurance (BFSI) sectors for optimizing data security represents the key factor driving the market growth. In line with this, the sudden outbreak of coronavirus disease (COVID-19) pandemic across the globe has prompted organizations to adopt bring your own device (BYOD) and work-as-a-space (WaaS) corporate models for maintaining the ongoing business operations, which is acting as another growth-inducing factor. Additionally, significant technological advancements and the introduction of network function visualization (NFV) and virtual customer premises equipment (vCPE) solutions for leveraging information technology (IT) virtualization technologies at reduced costs are contributing to the market growth. Besides this, the advent of cloud services has further facilitated the need for virtualization software applications to enhance communication and meet the evolving network needs across organizations. This, in turn, is supporting the market growth. Other factors, such as the proliferating sales of smart devices, the emergence of the fifth generation (5G) network and the escalating investments in the research and development (R&D) activities for launching advanced web-related solutions, such as fiber and broadband, are creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global virtualization software market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on platform and type.

Breakup by Platform:

PC Terminal
Mobile Terminal

Breakup by Type:

Storage Virtualization
Application Virtualization
Network Virtualization
Hardware Virtualization
Server Virtualization
OS Virtualization
Others

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon.com Inc., Citrix Systems Inc., Datadog, Google LLC, Huawei Technologies Co. Ltd., International Business Machines Corporation, Microsoft Corporation, Nutanix Inc., Oracle Corporation, Parallels International GmbH (Corel Corporation), SolarWinds Corporation and VMware Inc.

Key Questions Answered in This Report:

How has the global virtualization software market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global virtualization software market?
What are the key regional markets?
What is the breakup of the market based on the platform?
What is the breakup of the market based on the type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global virtualization software market and who are the key players?
What is the degree of competition in the industry?