Application virtualisation market to reach $5bn by 2024
According to a report published by KBV Research, the global application virtualisation market size is expected to reach $5.3 billion by 2024, rising at a market growth of 14.4% CAGR during the forecast period.
The current boom within the IT industry has minimised the cost of implementation and maintenance of applications as well as maximisation of productivity through them.
This will likely drive the application virtualisation market.
In advanced countries that are responsible for pushing the application virtualisation market, knowledge about new cloud-based techniques for cost reduction and profit maximisation is apparent.
The Asia Pacific market is expected to witness a CAGR of 15.2% during (2018 - 2024).
The large enterprises market dominated the global application virtualisation market by organisation size 2017.
The small and medium-sized enterprises (SME) market is expected to witness a CAGR of 16.5% during (2018 - 2024).
Cost-saving solutions and enhanced efficiency encourage the adoption of application virtualisation solutions among SMEs.
In comparison to the large enterprise segment, the SMEs segment is witnessing obstacles in terms of resources.
The BFSI market dominated the global application virtualisation market by end user 2017, growing at a CAGR of 12.9 % during the forecast period.
The IT and Telecom market is expected to witness a CAGR of 13.4%, the Construction market 16.1%, and the government and defence market the highest CAGR of 15% during (2018 - 2024).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region.
Google and Microsoft are some of the forerunners in the application virtualisation market.