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.
Evolving Workplace is Driving Market Growth
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.
On-premise Holds the Largest Market Share
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.
Key Developments in the Market
- December 2017 - Citrix System’s XenApp and XenDesktop services were deployed on Oracle Cloud Market place, to enable consumers to provide the workforce with more security to business apps and data, on any device, with an advantage of scale, power, and the reliability of Oracle Cloud Infrastructure (OCI).
- December 2017 - Huawei launched OpenLab in Cairo, Egypt, to build Information Technology Communication ecosystem in Northern Africa, in response to digital transformation.
- November 2017 - IBM announced the successful testing of a fully integrated Wavelength Division Multiplexing (WDM) Si photonics chip for Big Data and cloud services, enabling the download of an entire HD digital movie in two seconds.
- June 2017 - Microsoft acquired Cloudyn, a company that helps enterprises and managed service providers optimize their investments in cloud services. This acquisition is expected to accelerate digital transformation for customers and partners with Azure.
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.
Reasons to Purchase the Report
- Current and future financial services desktop virtualization market analysis in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Research Approach and Methodology
3. Executive Summary
4. Market Insights
4.1 Market Overview
4.2 Industry Attractiveness – Porter's Five Industry Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products or Services
4.2.5 Competitive Rivalry among Existing Competitors
4.3 Industry Value Chain Analysis
5. Market Dynamics
5.1 Factors Driving the Market
5.1.1 Evolving Workplace
5.1.2 Desktop Virtualization Supports Inorganic Growth
5.2 Factors Restraining the Market
5.2.1 Infrastructural Constraints
5.3 Industry Policies
6. Global Financial Services in Desktop Virtualization Segmentation
6.1 By Desktop Delivery Platform
6.1.1 Hosted Virtual Desktop (HVD)
6.1.2 Hosted Shared Desktop (HSD)
6.2 By Deployment Mode
6.3 By Geography
6.3.1 North America
6.3.4 Rest of the World
7. Competitive Intelligence – Company Profiles
7.1 Citrix Systems Inc.
7.2 Toshiba Corporation
7.4 Huawei Technologies Co. Ltd
7.5 Microsoft Corporation
7.6 Parallels International GmbH
7.7 Dell Inc.
7.8 Red Hat Inc.
7.10 Ericom Software Inc.
7.11 Tems, Inc.
7.12 VMware Inc.
*List is Not Exhaustive
8. Investment Analysis
9. Outlook of the Market