Market Trends of United States Virtualization Security Industry
This section covers the major market trends shaping the US Virtualization Security Market according to our research experts:
Cloud Deployment is Expected to Grow at a Significant Rate Throughout the Forecast Period
- The adoption of cloud deployment has been steadily on the rise, not only for smaller companies searching for cost-effective alternatives to physical infrastructure but also in large businesses that want to take advantage of its flexibility. However, at the time of cloud migration, the enterprises are facing major infrastructure security issues.
- Companies, like Amazon Web Services (AWS), have emerged as a significant player in the cloud offerings market landscape. Among the products in the AWS, the Amazon Simple Storage Service (Amazon S3) is one of the infrastructures that has majorly used by companies, like Reddit, Netflix, and Pinterest. Cybercriminals are frequently exploiting Amazon S3 buckets for profit. The Trend Micro’s “Smart Protection Network” infrastructure gave these cloud infrastructures additional insights on the nature of these attacks. For example, in April 2019, it identified a group of cyber attackers who managed to modify some of the content of some websites hosted on AWS.
- Furthermore, in July 2019, Corsa Security launched “Corsa Red Armor,” an end-to-end network virtualization security platform, used to scale traffic inspection to 100%, without lowering performance high-capacity networks.
- Furthermore, enterprises in the country have to abide by some regulatory compliances. One such compliance is the Health Insurance Portability and Accountability Act (HIPAA), which states the rules for healthcare organizations, like nursing homes, hospitals, and private medical companies that deal with critical healthcare data. Such healthcare organizations that run on a hybrid cloud environment are required to ensure that a significant part of their connected cloud environments and the sensitive resources are protected against failing to meet compulsory compliance standards that may lead to data breaches.
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BFSI End-User Segment is Expected to Hold a Significant Share Throughout the Forecast Period
- The BFSI sector is no stranger to virtualization concepts, having already come to take the advantages it offers to satisfy important IT needs, such as centralized information security, improved mobility, and infrastructure disaster recovery capability. Tech giants like Microsoft’s NVv4 solutions for Microsoft Azure have the potential to expand the BFSI use cases, and opportunities to use VMs to support finance operations.
- In May 2020, VMware Inc. released the third annual “Modern Bank Heists” report, which is produced by VMware Carbon Black. The report includes VMware Carbon Black cyber threat data analysis and annual survey results featuring responses from major financial institution CISOs. As per the report, from February to April 2020, attacks targeting the BFSI sector of the country have doubled, and the Ransomware attacks in the financial industry have increased by more than five times.
- In November 2019, IBM focused on targeting financial service customers with the development of a financial services-ready cloud platform in collaboration with the Bank of America. The Bank of America is expected to use the platform and host critical applications to support its more than 60 million banking customers. These virtual infrastructure adoptions by the BFSI players will drive the growth of virtualization security solutions in this end-user segment.
