According to a report by MarketsandMarkets, the data centre security market is set to reach $8.13bn by 2020,
rising from $4.74bn in 2015.
The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.4% during the next five years.
Growth of data centre security will be driven by an increase in adoption of cloud computing, virtualisation and growing security concerns, the analysts added.
In terms of region, the Asia-Pacific market is expected to see highest growth of 16.6% during the next five years.
The growth will be fuelled by the development of new data centres and increasing security requirements of data in various booming sectors such as BFSI, Government and Public.
Currently, Asia Pacific region is the second largest market after North America.
Among the vendors, Cisco, IBM and MacAfee (Intel Security), Dell, Check Point Software Technologies are some of the key players in the market.
According to the analysts, the challenges before the data centre security market include the availability of low cost, substitute software solutions and low awareness of solutions and its benefits, which could hamper growth.
However, increasing numbers of new data centre and high economic growth in emerging economies including India and China could offer growth opportunities for the companies.
The market has been categorised as Logical Security and Physical Security in terms of solution, while in terms of services it has been categorised as Consulting, Managed and Professional.
