Global Virtual Machine Market Analysis With Opportunity Segments
Virtual Machine Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Virtual Machine Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 10, 2024 /EINPresswire.com/ -- The global virtual machine market is projected to grow from $17.08 billion in 2023 to $20.26 billion in 2024, at a CAGR of 18.6%. The market is anticipated to reach $37.53 billion by 2028, driven by the increasing adoption of cloud computing, expansion of edge computing, and rising demand for hybrid and multi-cloud architectures.
Acceleration of Cloud Computing Adoption Drives Market Growth
The acceleration of cloud computing adoption is expected to propel the growth of the virtual machine market going forward. Cloud computing adoption refers to the process by which organizations integrate cloud computing technologies and services into their IT infrastructure and operations. This adoption arises due to cost savings, scalability, security, and the ability to facilitate remote access to data and services. Virtual machines use cloud computing to provide on-demand, scalable computing resources by allowing multiple isolated environments to run on the same physical hardware, maximizing efficiency and flexibility. For instance, in February 2024, according to reports shared by the AAG IT Support Service, a US-based digital transformation service provider, a survey of 753 technical and business professionals showed an increase in heavy cloud service usage to 63% in 2022, up from 59% in 2021 and 53% in 2020. Therefore, the acceleration of cloud computing adoption is driving the growth of the virtual machine market.
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Major Players and Market Trends
Major companies operating in the virtual machine market are Amazon.com Inc., Google LLC, Microsoft Corporation, Alibaba Group Holding Limited, Dell Technologies Inc., Huawei Technologies Co. Ltd., Lenovo Group Limited, Accenture PLC, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Fujitsu Limited, The Hewlett Packard Enterprise Company, VMware LLC, NetApp Inc., Juniper Networks Inc.
virtual machines for high-performance computing (HPC), to secure their position within the market. This machine is optimized for various HPC workloads such as computational fluid dynamics, finite element analysis, rendering, molecular dynamics, and financial risk analysis. For instance, in November 2022, Microsoft Corporation, a US-based technology company, launched Azure HX and HBv4. The HBv4 series excels in diverse HPC applications, from weather simulation to financial analysis, offering significant performance boosts with features like up to 176 AMD EPYC 9004-series (Genoa) CPU cores, 688 GB of RAM, and 400 Gb/s NDR InfiniBand from NVIDIA Networking. On the other hand, the HX-series VMs offer significant performance enhancements at a lower cost, with the latest 4th Gen AMD EPYC processors paired with 400 Gigabit NVIDIA Quantum-2 InfiniBand. Additionally, this series enhances MPI collective offload and routing capabilities with 400 gigabit InfiniBand, is tailored for chip design, and offers unparalleled performance and cost efficiency for HPC customers.
Virtual Machine Market Segments:
• By Type: System Virtual Machine, Process Virtual Machine
• By Application: Small Scale Enterprises, Medium Scale Enterprises, Large Scale Enterprises
• By Industry: Banking, Financial Services, And Insurance (BFSI), Information Technology And Telecommunications, Retail, Healthcare, Manufacturing, Government, Other Industries
Geographical Insights: North America Leading the Market
North America was the largest region in the virtual machine market in 2023. The regions covered in the virtual machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Virtual Machine Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Virtual Machine Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on virtual machine market size, virtual machine market drivers and trends, virtual machine market major players, competitors' revenues, market positioning, and market growth across geographies. The virtual machine market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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