Research from Springboard had already estimated the virtualization software and services market in Asia Pacific to reach $ 1.35 billion with CAGR of 42 % by 2010, here’s another indication that Asia is poised to become the biggest growth market for virtualization in the future, particularly with financial institutions.
According to The Asian Banker, the Asia Pacific region is now adopting virtualization technology at a faster rate than the U.S. -14 percent of companies in Asia plan to implement virtualization in the next 12 months, compared with 12 percent of companies in America says Forrester.
According to Jim Lenox, VMware’s South Asia general manager, the motivation for adopting virtualization has varied significantly across Asia’s banking sector, with consolidation and cost savings as the “first-step” goal.
“After the organization achieves some experience running virtual machines, we generally see them expanding their usage of virtualization largely due to the agility and flexibility that comes with running applications inside of easy-to-create virtual machines.”
Virtualization is often cited as one of the solutions to improve banks’ disaster recovery capabilities, an issue that has come into the spotlight following recent trauma in China and Myanmar.