The global virtual machine market is on track for substantial growth, with projections indicating an impressive compound annual growth rate (CAGR) of 20.2% from 2024 to 2034. Starting at a market value of USD 39,564 million in 2024, the market is expected to expand significantly, reaching USD 248,460.5 million by the end of 2034.
Virtual machines (VMs) play a pivotal role in enabling cybernetic automation and are integral to cloud computing infrastructure. As organizations accelerate their digital transformation initiatives, the demand for scalable and agile computing solutions provided by virtual machines continues to surge.
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Key Takeaways: Virtual Machine Market
- Exponential growth is expected as FMI forecasts the market to exhibit 19.7% CAGR between 2021 and 2022
- Backed by strong network infrastructure, the U.S. will account for over 80% sales in North America
- Rising digitization will enable the U.K. to exhibit a remarkable 27.5% Y-o-Y growth in 2021
- FMI forecasts both Germany and France to exhibit double-digit growth in the Europe virtual machine market
- China will remain dominant in East Asia, followed by Japan and South Korea
COVID-19 Impact Analysis on virtual machine Market
The widespread impact of novel coronavirus pandemic continues to impact every organization — large or small — their employees, and the customers they serve. The spread of a pandemic has rapidly increased the use of new and existing technologies. As consumers continue to lock down, millions of people are forced to adopt work from home policies, which has resulted in increasing demand for cloud computing technologies.
The closure of physical workspaces and transportation networks has forced many businesses and public bodies to adopt virtual technologies. For some individuals, working from home is as simple as taking their laptops home, but others may have specialized PCs and high configured machines that are not as easy to transport back and forth between a home office and workplace.
As a result, over the past few months VM vendors have witnessed the acceleration of VM and cloud computing technologies sales. The market has shown significant growth during the pandemic, it has grown by nearly 3% — 5% in Q1-Q3 2020. However, the market is expected to become streamline by the end of 2021.
Growing Adoption of Cloud VMs in Organization
The adoption of VMs is increasing in organization as employees can have access to multiple VMs and their data from multiple devices at the same time. This increases productivity by allowing employees to access necessary data from anywhere. The adoption of VMs also reduces the down time that IT departments needs to manually install new software or update software, and helps increase the productivity of IT staff as they can focus on other important task.
Who is Winning?
To meet the unprecedented demand for VMs from consumers, VM vendors are taking huge efforts to build advance computing VMs with high storage capacity and processing powers. Cloud VM offers the ability to use on-demand VM services to achieve cost efficiency and business continuity and enable organizations to rapidly accelerate their digital business transformation plans. The increased use of VM services amid COVID-19 pandemic has accelerated growth of the VM market.
Some of the leading players operating in the market are Microsoft Corporation, VMware, Inc., Amazon Web Services, Inc., Google, IBM Corporation, Oracle Corporation, Alibaba Group, Hewlett Packard Enterprise, Citrix, Huawei Technologies, Proxmox Server Solutions GmbH, Parallels Inc.
Key Segments Covered of the Virtual Machine Market
Type
- Process/Application Virtual Machines
- System Virtual Machines
Platform
- Windows
- Mac
- Linux
- Others
Enterprise Size
- Small & Medium Enterprises (SMEs)
- Large Enterprises
Industry
- BFSI
- IT & Telecom
- Retail
- Healthcare
- Manufacturing
- Government
- Others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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