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 Virtual machines are also used widely by organizations for resource testing, software designing, or for running outdated systems.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.
Author Credits: Abhishek Verma
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