The global financial services desktop virtualization market is expected to register a CAGR of 50.55% over the forecast period (2018-2023). Desktop virtualization is one of the vital IT strategies for financial services organizations of all sizes. These organizations can improve the time to market through desktop virtualization, as the technology enables the transition towards IT mobility. Organizations offering financial services operate across various time zones globally, where even a narrow downtime can result in a devastating business crisis. The importance of desktop virtualization in financial services is growing, as a more flexible and mobile workforce is increasing productivity, reputation, as well as customer satisfaction, which are vital for financial services organizations.
The IT departments of all businesses are facing a rapid evolution in the workplace. The workplace is becoming geographically dispersed and increasingly diverse and mobile, with businesses being conducted in local coffee shops, in hotels, on road, home offices, enterprise campuses, conference rooms, and traditional offices. This trend is increasing pressure on the workforce to prevent any sort of data leakage from end-point devices and to ensure the protection of corporate data. Fortunately, the desktop virtualization technology has progressed greatly to offer the service on any device, without compromising on security and control, while lowering the TCO for businesses and IT.
Reliability plays a major role in virtual desktop environments, as companies are always in need of continuous updates and service upgrades. On-premise solutions offer advantages over cloud; users can control system performance during outages. It is essential that these environments do not compromise under the influence of external factors, such as outages and network complications. Security has played a major role in the growth of on-premise solutions, with financial industries preferring on-premise for better control over data. Moreover, growing integration of cloud technologies and improving security are giving way to the adoption of cloud solutions, which is restraining the growth of the on-premise segment.
Asia-Pacific to Register Highest Growth Rate
The IT industry in the Asian region has been lauded for its quality and quantity of IT services exports to the global markets. Asia hosts the major IT outsourcing destinations for the major market players across the financial services vertical. Many of the emerging markets in the region are expected to register higher growth rates than the mature economies. As these markets continue to grow in this trajectory, the need for financial services such as retail banking, asset management, insurance, capital market service, and others, is also increasing. Many industry players have been increasing their presence in the region to capture the market in this astoundingly fast-growing region.
Major Players: Citrix Systems Inc., Toshiba Corporation, IBM, Huawei Technologies Co. Ltd, Microsoft Corporation, Parallels International GmbH, Dell Inc., Red Hat Inc., NComputing, Ericom Software Inc., Tems, Inc., and VMware Inc., amongst others.
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