Data Center Logical Security Market

Global Data Center Logical Security Market Size (2024 to 2029)

The global data center logical security market is predicted to reach USD 4.29 billion in 2024 and USD 5.90 billion by 2029, growing at a CAGR of 6.57% during the forecast period.

The software of a system for the organization is protected by data center logical security. User identity, password access, access permissions, authentication, and authority levels are all part of the data center's logical security. These procedures ensure that only authorized users in a network or workstation can conduct specific actions (such as gaining access to information). Introducing modern data center logical security solutions will create numerous chances for existing and new service providers to expand.

MARKET DRIVERS

The market growth rate is expected to accelerate due to rising data traffic on a global scale and increased demand from end-users, primarily in the communication industry.

The rising demand for smartphones and a communication network for entertainment is expected to impact data traffic, contributing to the data center's market growth rate and the logical security provided. The massive increase in the growing infrastructure will likely be a key driver for the industry, as 5G deployment is rapidly increasing across all areas. Furthermore, 5G makes edge computing a requirement, necessitating geographically connected data centers and affecting the demand for logistic security.

MARKET RESTRAINTS

Attacks are rising due to many organizations' lack of awareness of cyber hazards, reducing the market's growth rate. Ransomware attacks are also expanding at an alarming rate, creating a new challenge for security firms. The threat also expands as the number of data centers grows due to various factors. However, the market's growth is projected to be slowed by a lack of understanding of security features such as data center logical security.

Impact of COVID-19 on the Global Data Center Logical Security Market

The COVID-19 pandemic has made a slowdown in the economy. As a result, demand for digital and sophisticated technology solutions is rising across all industries around the world, and demand for data and storage is rising as well. The need for data center logical security is skyrocketing, which is expected to strengthen the market in the coming years.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Data Center Logical Security Market Analysis By Component

The solutions market is expected to dominate the global data center logical security market. However, due to significant technical improvements, low budgetary requirements, and the demand for various post and pre-sales services, the services industry is predicted to rise at a high CAGR over the next five years.

Global Data Center Logical Security Market Analysis By Size

Large data centers will have the most significant market share in 2020. This sector includes data centers with more than 20,000 square feet of computing space. Because these data centres use a large number of servers and manage a considerable amount of data, the danger of attacks and losses is substantial. This is expected to significantly enhance the demand for Data Center Logical Security and contribute to market growth during the projected period.

Global Data Center Logical Security Market Analysis By Application

The BFSI industry is predicted to have the most significant market share in 2020, followed by IT and Telecom. The increased adoption of cloud models for data storage in banks is undoubtedly enhancing data center logical security acceptance. This will likely contribute to market growth because integrated solutions demand data centres. BFSI includes core banking, mutual funds, insurance, other financial services, and physical and virtual servers, all of which contribute considerably to the market's growth rate. Due to the introduction of 5G, IT and Telecom are predicted to grow rapidly.

REGIONAL ANALYSIS

Asia Pacific is predicted to be the most dominant region, because of growing data traffic from countries like China and India. The growing trend in India toward digitalization, which includes initiatives like Digital India, Smart Cities, and others, is likely to boost market growth significantly. This needs networked solutions, which drive demand for data center equipment like racks, power, cable management, and other related goods. The vast banking sector in China also contributes to the market's rapid expansion. In addition, the increasing deployment of 5G in many countries is predicted to boost the market's growth rate.

North America is expected to account for 41.5 percent of the worldwide data center logical security market. Factors such as increased governmental initiatives for data privacy and security, significant technological improvements in data centers, and large numbers of cloud and virtualization users drive the data center logical security market in North America. However, the high availability of low-cost, substitute software solutions, lack of awareness, and budgetary restraints are significant roadblocks to the growth of the data center logical security market in this region.

Germany accounted for most of the European market share, followed by the United Kingdom and Spain. France, Italy, and Poland are some of the other European countries that contribute to the market. Due to security, latency, and connection requirements, businesses are adopting data centers.

KEY PARTICIPANTS IN THE GLOBAL DATA CENTER LOGICAL SECURITY MARKET

The major companies operating in the global data center logical security market include Check Point Software Technologies (Israel), Bosch Security (Germany), Fortinet (US), Cisco (US), Intel (US), VMware (US), HP (US), Dell (US), Juniper Networks (US), Italtel (Italy), and others.

RECENT HAPPENINGS IN THE GLOBAL DATA CENTER LOGICAL SECURITY MARKET

• At Juniper Networks' 2021 Global Analyst, Influencer, and Media Summit, the company unveiled new products. These include two new Wi-Fi 6E access points, an IoT Assurance service, and Juniper Support Insights, a new support solution. Juniper Support Insights is an artificial intelligence (AI)- -based solution that provides visibility and insights across Juniper's Juno platform. This will make optimizing their networks' performance easier for service providers, businesses, and partners. 

• VMware has announced a partnership with Intel in India to assist women developers who have taken a break from their jobs. VMware's VMinclusion Taara – one of India's most extensive upskilling programs – will collaborate with Intel's Home To Office (H2O) program to empower developers with relevant skills and career opportunities as part of Intel India's ecosystem-wide BeingWISE (Women Innovators, Social Leaders, and Entrepreneurs) initiative. 

• Check Point® Software Technologies Ltd, a leading global provider of cyber security solutions, today announced that Avanan, which Check Point Software recently acquired, was ranked 125 on the Deloitte Technology Fast 500TM, which is now in its 27th year and ranks the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, plus energy tech companies in North America. 

• Fortinet® and Microsoft have announced the expansion of their partnership to provide the industry's first next-generation firewall (NGFW) and Secure SD-WAN interoperability with Microsoft Azure Virtual WAN. Customers may now apply advanced security controls to virtual WAN traffic and extend Secure SD-WAN into the Azure virtual WAN hub for the first time from any vendor.

DETAILED SEGMENTATION OF THE GLOBAL DATA CENTER LOGICAL SECURITY MARKET INCLUDED IN THIS REPORT

This research report on the global data center logical security market has been segmented and sub-segmented based on the component, size, application, and region.

By Component

• Solutions

• Services

By Size

• Large

• Mid-Size

• Enterprise

By Application

• BFSI

• Healthcare

• Government

• Energy

• Retail

• Others

By Region

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus