Virtual Machine Market size was over USD 9.79 billion in 2023 and is projected to reach USD 61.61 billion by 2036, witnessing around 15.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of virtual machine is evaluated at USD 10.98 billion.
The growth of the market can primarily be attributed to the rising adoption of virtual machine in different industries and data centers, backed by the growing IT industry worldwide. The demand for data centers in the recent years has surged significantly, backed by the rise in adoption of hybrid information technology and cloud services. Moreover, increasing advancements in artificial intelligence technologies is also raising to the rise in demand for data centers, which in turn is anticipated to contribute to the growth of the global virtual machines market in the coming years. Virtual machines are also used widely by organizations for resource testing, software designing, or for running outdated systems. The rise in the number of organizations in the IT industry is also expected to contribute to the market growth. Moreover, rise in the adoption of cloud computing technologies by different organizations across various industry verticals, is also expected to accelerate the market growth. The market is also anticipated to grow on account of the numerous benefits associated with virtual machines, such as lower costs of installation as compared to physical machines, greater operational control for developers and IT experts, and low operational expenditures. Moreover, the increasing trends of desktop-as-a-service (DaaS) is also expected to numerous opportunities for market growth.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
15.2% |
|
Base Year Market Size (2023) |
USD 9.79 billion |
|
Forecast Year Market Size (2036) |
USD 61.61 billion |
|
Regional Scope |
|
The global virtual machine market is segmented by component into hardware, software, and services. Out of these, the software segment is expected to hold the largest market share and further attain a revenue share of 38.41% by the end of 2036. Based on type, the market is segmented into system virtual machine and process virtual machine, out of which, the system virtual machine segment is anticipated to grow with the highest CAGR of 15.9% during the forecast period. Further, the market is segmented based on RAM storage into 0.5 GiB, 1 GiB, 2 GiB, 4GiB, 8GiB, 16 GiB, 32GiB, 48GiB, 64GiB, 96GiB, and others. Amongst these segments, the 64GiB segment is projected to hold a significant market share and further reach USD 5432.62 Million by the end of 2036. Furthermore, on the basis of temporary storage, the 64GiB segment is expected to hold a significant market share and further reach USD 5174.42 Million by the end of 2036. The market is also segmented on the basis of enterprise size into small & medium enterprise and large enterprise, out of which, the small & medium enterprise (SME) segment is expected to grow with the highest CAGR of 16.0% during the forecast period. Based on operating system, the market is segmented into Windows, Linux, MacOS, and others, out of which, the Windows segment is expected to hold the largest market share throughout the forecast period and further touch a revenue of USD 20,555.80 Million by the end of 2036. Moreover, the market is also segmented on the basis of end user into BFSI, manufacturing, IT & telecom, retail, healthcare, and others, out of which, the manufacturing segment is anticipated to capture a significant market revenue of USD 11209.85 Million by the end of 2036.
Regionally, the global virtual machine market is segmented into five major regions comprising North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America industry is set to account for largest revenue share of 45% by 2036. The market in the region is also anticipated to grow with a CAGR of 14.3% during the forecast period owing to the presence of the key players in this region and for the rising implementation of virtualization and security solutions & services across end user organizations. Further, the market is segmented by country into the United States and Canada, out of which, the market in the U.S. is expected to hold the largest market share throughout the forecast period and further grow with the highest CAGR of 14.8% during the forecast period. On the other hand, the market in Europe is projected to hold the second leading stance by garnering a revenue share of 17.93% by the end of 2036.
The virtual machine market in Europe is further segmented by country into the UK, Germany, Italy, France, Spain, Russia, Netherlands, and Rest of Europe, out of which, the market in the UK is expected to hold the largest market share of 23.80% by the end of 2036 and further gain a revenue of USD 2629.94 Million in the same year. Alternatively, the market in Germany is expected to grow significantly by holding the highest CAGR of 17.1% during the forecast period.
Author Credits: Abhishek Verma
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