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Providing solutions for lengthy application installation process with improved security and simplifying the management of the overall application life cycle are the major growth factors for the application virtualization market
The application virtualization market size is expected to grow from USD 2.2 billion in 2018 to USD 4.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) 14.0% during the forecast period. Providing solutions for lengthy application installation process with improved security and simplifying the management of the overall application life cycle are the major growth factors for the application virtualization market. However, the graphics intensive application, which cannot be virtualized may restrain the growth of the application virtualization market.
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Application virtualization services to drive the overall growth of the market
Application virtualization solutions have become a crucial and integral part of several successful and large organizations, as companies struggle to provide access of same application to its number of employees. It helps in providing various applications to improve portability, manageability, and compatibility of a virtual infrastructure. The implementation of application virtualization solutions would help organizations strengthen their operation policies, thus save cost and time, and provide a great value proposition for organizations, as well as their clients in the long run.
BFSI vertical to hold the largest market size during the forecast period
The Banking, Financial Services and Insurance (BFSI) vertical offers significant growth opportunities for vendors in the application virtualization market, as this vertical is adopting digitalization at a rapid pace and needs to save Capital Expenditure (CAPEX) for other IT needs. The increasing competition within the BFSI organizations to keep customers satisfied and enhance operational efficiencies is another concern of this vertical. Hence, resulting in the growing adoption of application virtualization solutions, as they offer the benefits of scalability and flexibility for using various applications on their virtual machine with increased cost savings, business continuity, and business agility.
North America to hold the largest market size and grow at the highest rate during the forecast period
North America is estimated to have the largest market size, among all the regions, in the application virtualization market, and the trend is expected to continue till 2023. North America is the most mature market in terms of adoption of application virtualization solutions. The market growth in this region is primarily driven by the presence of large IT companies/users and rapid technological advancements, such as digitalization in the US and Canada. The presence of key players in application virtualization in the region is expected to be a major factor driving the market growth in North America.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with the key people. The breakup of the profiles of the primary participants as follows:
- By Company Type: Tier I: 35%, Tier II: 45%, and Tier III: 20%
- By Designation: C-Level: 35%, D-Level: 25%, and Others: 40%
- By Region: North America: 45%, Europe: 20%, APAC: 30%, and RoW: 5%
The report profiles the following key vendors:
1. Microsoft (US)
2. Symantec (US)
3. VMware (US)
4. Citrix Systems (US)
5. Red Hat (US)
6. Oracle (US)
7. Google (US)
8. Dell (US)
9. Micro Focus (UK)
10. Parallels International (US)
11. Systancia (France)
12. Accops (India)
13. NComputing (South Korea)
14. Sangfor Technologies (China)
15. NextAxiom Technology (US)
- The report segments the global application virtualization market by component (solutions and services), deployment models, organization size, verticals, and region.
- The services segment is inclusive of training and consulting, and support and maintenance.
- The market by organization size has been segmented into Small and Medium-sized Enterprises (SMEs), and large enterprises. On the basis of vertical, it is classified into BFSI, healthcare, IT and telecom, government and defense, construction, education, and others (retail, media and entertainment, and energy and utilities). The report also provides market details in the 5 major regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.
Key Benefits of Buying the Report
- The report would help the market leaders/new entrants in the application virtualization market with information on the closest approximations of the revenue numbers for the overall application virtualization market and the sub-segments.
- The report would help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provides them with the information on key market drivers, restraints, challenges, and opportunities.