Overview and Scope
A virtual machine (VM) refers to a software emulation of a computer system that allows users to run multiple operating systems on a single physical machine. It is used for development, testing, and deployment purposes. It also provides a secure, isolated environment for running applications and enables efficient use of hardware resources by consolidating servers.
Sizing and Forecast
The virtual machine market size has grown rapidly in recent years. It will grow from $17.08 billion in 2023 to $20.26 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The growth in the historic period can be attributed to increased server consolidation, increased legacy application support, increased resource efficiency and cost savings, development and testing environment.
The virtual machine market size is expected to see rapid growth in the next few years. It will grow to $37.53 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to increasing cloud computing adoption, increasing edge computing expansion, increasing hybrid and multi-cloud architectures, increasing security and compliance requirements. Major trends in the forecast period include serverless computing integration, AI and machine learning optimization, enhanced security features, edge virtualization for IOT.
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Segmentation & Regional Insights
The virtual machine market covered in this report is segmented –
1) By Type: System Virtual Machine, Process Virtual Machine
2) By Application: Small Scale Enterprises, Medium Scale Enterprises, Large Scale Enterprises
3) By Industry: Banking, Financial Services, And Insurance (BFSI), Information Technology And Telecommunications, Retail, Healthcare, Manufacturing, Government, Other Industries
North America was the largest region in the virtual machine market in 2023. The regions covered in the virtual machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The acceleration of cloud computing adoption is expected to propel the growth of the virtual machine market going forward. Cloud computing adoption refers to the process by which organizations integrate cloud computing technologies and services into their IT infrastructure and operations. This adoption arises due to cost savings, scalability, security, and the ability to facilitate remote access to data and services. Virtual machines use cloud computing to provide on-demand, scalable computing resources by allowing multiple isolated environments to run on the same physical hardware, maximizing efficiency and flexibility. For instance, in February 2024, according to reports shared by the AAG IT Support Service, a US-based digital transformation service provider, a survey of 753 technical and business professionals showed an increase in heavy cloud service usage to 63% in 2022, up from 59% in 2021 and 53% in 2020. Therefore, the acceleration of cloud computing adoption is driving the growth of the virtual machine market.
Key Industry Players
Major companies operating in the virtual machine market are Amazon.com Inc., Google LLC, Microsoft Corporation, Alibaba Group Holding Limited, Dell Technologies Inc., Huawei Technologies Co. Ltd., Lenovo Group Limited, Accenture PLC, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Fujitsu Limited, The Hewlett Packard Enterprise Company, Vmware LLC, NetApp Inc., Juniper Networks Inc., Red Hat Inc., Rackspace Technology Inc., Nutanix Inc., Docker Inc., Scale Computing, CloudSimple Inc., Ncomputing Co. Ltd., Proxmox Server Solutions Gmbh, Alludo – Cascade Parent Limited
The virtual machine market report table of contents includes:
1. Executive Summary
2. Virtual Machine Market Characteristics
3. Virtual Machine Market Trends And Strategies
4. Virtual Machine Market – Macro Economic Scenario
5. Global Virtual Machine Market Size and Growth
…..
32. Global Virtual Machine Market Competitive Benchmarking
33. Global Virtual Machine Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Virtual Machine Market
35. Virtual Machine Market Future Outlook and Potential Analysis
36. Appendix
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