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Dec 16 2021 Rahman Jakob

Global Virtual Machine Market to Touch USD 46235.10 Million by 2028

The dependence on computing systems has increased enormously over the past few decades. Businesses worldwide are increasingly adopting computing technologies so as to increase organizational effectiveness and promote work efficiency. As a result, organizations in the IT industry are investing massively to develop advanced computing products. In the year 2020, the IT industry around the globe was projected to garner a revenue of close to USD 5 Trillion. Moreover, software, devices & infrastructure, and IT & business services represented a share of close to 10%, 25%, and 20% respectively of the overall IT industry. With the increasing advancements in computing technology and rising adoption of cloud technologies, the demand for virtual machines is expected to grow significantly, as these machines allow organizations to perform different tasks virtually without the need of deploying the hardware.


Moreover, organizations are benefitted extensively from the adoption of virtual machines as it lowers the costs associated with the data infrastructure of organizations. It has been anticipated that a mid-sized institution spends around 15% or around USD 120 Million of its overall operational costs on data architecture. The rising concern amongst organizations to lower costs on infrastructure, along with the rapid adoption of cloud services, and the growing software industry, are some of the factors anticipated to drive the growth of the global virtual machine market. The market garnered a revenue of USD 15153.78 Million in the year 2019 and is further anticipated to touch USD 46235.10 Million by the end of 2028 by growing with a CAGR of 14.5% during the forecast period.


Regionally, the global virtual machine market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst the market in these regions, the market in North America is expected to hold the highest market share throughout the forecast period and further touch revenue of USD 20805.80 Million by the end of 2028, up from a revenue of USD 6921.40 Million in 2019. The market in the region is also anticipated to grow with a CAGR of 14.3% during the forecast period. The market in the region is further segmented by country into the U.S. and Canada. Out of the market in these countries, the market in the United States is anticipated to garner the largest market revenue of USD 4959.68 Million by the end of 2021. Moreover, the market in Europe is anticipated to hold the second-leading share throughout the forecast period and further touch revenue of USD 11050.19 Million by the end of 2028, up from a revenue of USD 3558.61 Million in the year 2019.


The market is segmented by country into the U.K., Germany, Italy, France, Spain, Russia, Netherlands, and the Rest of Europe. Amongst these countries, the market in the U.K. is anticipated to hold the highest market share throughout the forecast period. The market in the country garnered the largest market revenue of USD 834.93 Million in 2019 and is further expected to touch USD 2629.94 Million by the end of 2028. On the other hand, the market in Germany is projected to grow with the highest CAGR of 17.1% during the forecast period.


The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).


Source: https://www.globenewswire.com/en/news-release/2021/12/09/2348912/0/en/Global-Virtual-Machine-Market-to-Touch-USD-46235-10-Million-by-2028-Increasing-Adoption-of-Cloud-Technologies-Worldwide-to-Accelerate-Market-Growth.html


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Rahman Jakob

Business Manager at Research Nester - Delhi - New Delhi - India

Assistant Manager & Passionate About in Market Research Specialization IT, Energy & Healthcare Industry.

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