BFSI Industry to Witness Extensive Adoption of Application Virtualization Through 2024

Increasing demand for cloud-based technologies in SMEs and simplification of overall application life cycle by application virtualization to drive global application virtualization market through 2024

According to TechSci Research report, “Global Application Virtualization Market By Component, By Technology, By Deployment Model, By Organization Size, By End User Vertical, By Region, Competition, Forecast & Opportunities, 2024”, global application virtualization market is expected to grow at a CAGR of around 13% during 2019 – 2024 on account of increasing demand for simplifying the entire application lifecycle. Enterprises in the expanding IT industry are adopting application virtualization so as to minimize the cost of implementation, maximize the productivity and maintain the applications, thereby driving global application virtualization market. Moreover, increasing awareness pertaining to the advantages of cloud-based technologies such as profit maximization and scalability is further contributing to the growth of global application virtualization market.

Browse 20 market data Tables and 108 Figures spread through 110 Pages and an in-depth TOC on“Global Application Virtualization Market”

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Global application virtualization market can be segmented based on component, technology, deployment model, organization size, end user vertical and region. Based on the component, global application virtualization market can be bifurcated into services and solution, of which the former is anticipated to witness the fastest growth owing to growing use of a variety of applications across various sectors/industries which is leading to increasing demand for virtualization services such as training, consulting, and maintenance, etc. On the basis of end user vertical, global application virtualization market can be segmented into BFSI, healthcare, IT & Telecom, government, education and others. BFSI industry is witnessing extensive adoption of application virtualization, globally, due to increasing demand for enhancing operational efficiencies and rapid digitization of financial services. Moreover, stringent regulation across the BFSI vertical and presence of sensitive and confidential data is further anticipated to drive adoption of application virtualization in this sector.

Microsoft Corp., Oracle Corp., Symantec Corporation, VMware, Inc., Citrix Systems Inc., Red Hat, Inc., VMware, Inc., Google Inc., SAP SE, Dell Inc., etc. are some of the leading players operating in global application virtualization market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their market share. In 2019, Symantec launched Symantec Visibility appliance v5.0 which is an on-premise virtual appliance for transport layer security (TLS) and secure sockets layer (SSL) inspection.

“North America is the leading region in global application virtualization market and is expected to continue its dominance during forecast period as well on account of early adoption of technologies such as IoT, location-based services, etc., and presence of major players in the region. However, Asia-Pacific is expected to witness significant growth during forecast period owing to increasing proliferation of IoT, cloud computing, etc., across organizations and rapid advancements in telecom infrastructure in some countries of the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Application Virtualization Market By Component, By Technology, By Deployment Model, By Organization Size, By End User Vertical, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global application virtualization market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global application virtualization market.

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