Owing to benefits such as data privacy, compliance, capability to handle multiple processes including data discovery, classification, and protection, data management, data privacy & security, application security, data-centric security is experiencing rapid adoption as opposed to traditional security models thus fostering remarkable progress in global data-centric security market.
The global Data-Centric Security market is anticipated to increase at a 17.4% CAGR to reach value USD 11490 Million in 2028
Covid-19 Impact:
The covid-19 has impacted almost all the markets across the world including the global data security market. Simultaneously, the epidemic has transformed the digital economy. The new normal of the remote working model has increased the demand for robust data-centric security solutions. In addition, the looming fear of data breaches, compliance mandates, and rising threat vectors, is rapidly booming the global data-centric security market.
This report offers a comprehensive outlook of the global data-centric security market detailing the key global data-centric security market segments, leading companies, opportunities, challenges, investment risks, long-term and near-term opportunities, market segment forecasts, and important attributes of the market. The market analysis in this report is done with the help of primary & secondary analysis, SWOT analysis, PEST analysis, and bottom-up and top-down approaches.
Software/ Solutions held the largest share
The global data center security market is segmented into Software/Solutions, Data discovery, Data protection, Data governance, Professional Services, and others based on component. Among them, Software/Solutions accounted for the majority of the worldwide data-centric security market. The key technical benefits such as data inventory, identification and mapping, cataloging, validation, data detection, classification, better visibility into the location, volume, context, and other risks, and protection of data from internal and external factors are driving the software/ solutions segment in the global data-centric security market.
On-premises to capture a higher market share during the forecast period
The global data-centric security market is classified into on-premises and on-cloud based on deployment. Organizations with on-premises installations have total control over all platforms, apps, systems, and data that can be controlled and managed by their own IT team. The typical technique to delivering security solutions and data-centric technologies in the organization is on-premises deployment. An organization where user credentials are business-critical will prefer an on-premises deployment because the organization controls the system. Because they cannot afford to lose sensitive data, financial records, accounting information, or financial transaction data, the government, defense, and BFSI sectors favor on-site security. These reasons are driving the demand for on-premises security solutions in the worldwide data-centric security market.
Based on industry, the worldwide data-centric security market is divided into healthcare, government, BFSI, pharmaceuticals, IT, and telecommunications. Among these, the healthcare and pharmaceutical industry is expected to grow at the fastest compound annual growth rate during the forecast period
The Healthcare industry includes personal health information and key data about patients that need high medical confidentiality; Therefore, data security has been of prime importance. The growing need to protect an organization's internal healthcare data is also of great importance as most healthcare organizations focus on protecting customer data and not focus on internal data protection. Regulatory compliance implementations, such as HIPAA, help secure sensitive data, protect identities by providing digital signatures, and protect network ports and databases. With increasing cases of medical record theft and awareness of regulatory compliance,
adoption rates of data center security solutions and services are expected to increase in the coming years.
The Asia Pacific to develop at the very best charge at some stage in the forecast length
The global data-centric security market is classified into North America, South America, Europe, and APAC based on region. APAC has primarily been one of the fastest-developing markets in phrases of the cell body of workers expansion, propagated by the growing adoption of cell gadgets in this region. Enterprises and SMEs within the APAC international locations admit the importance of records-centric protection. They are receptive to adopting devoted records-centric protection answers to guard their essential and touchy commercial enterprise records from business espionage, cyber threats, and misuse of records for financial profits of the pc hackers. APAC international locations and Australia, China, and Japan have broadly followed encryption technology to guard records against being stolen. The famous APAC international locations, along with Singapore and India, are progressively advancing toward adopting advanced records-centric protection answers.
In-intensity interviews were conducted with Chief Executive Officers (CEOs), advertising and marketing directors, different innovation and generation directors, and managers from diverse key agencies working within the records-centric protection market.
The need for making data-centric security solutions due to the proliferation of cyber-attacks is furthering the development of a global data-centric security market.
The factors such as growing end-user data security concerns, shift from office to virtual cloud for collaboration, the looming fear of data breaches, compliance mandates, and rising threat vectors, is rapidly booming the global data-centric security market.
The advantages such as elimination of security threats, advanced protection of sensitive information, encryption, centralized control, gapless protection, automated workflow, adaptability, policy management, data discovery, classification, persistent encryption, and data masking, encourage further adoption of data-centric security. These factors together affect the soaring expansion of the worldwide data-centric security market,
The record makes a specialty of the boom prospects, restraints, and data-centric safety marketplace evaluation. The observation presents Porter`s 5 forces evaluation of the data-centric safety enterprise to apprehend the effect of different factors, which include the bargaining energy of suppliers, aggressive depth of competitors, the chance of recent entrants, the chance of substitutes, and bargaining energy of consumers at the data-centric safety marketplace trends.
The growing demand for data-centric security solutions to secure cloud data, strict regulations and compliance, and increasing risks to data from the business due to the use of big data analytics, machine learning (ML), and artificial intelligence are key factors driving the data-centric security market (AI). On the other hand, an organization's tolerance for annoyance and security problems as a result of internal vulnerabilities is impeding the worldwide data-centric security market's growth. Furthermore, market suppliers face major obstacles due to corporate budget concerns and a lack of understanding of data-centric security solutions.
Data grows faster and flows freely anytime and anywhere in the cloud, according to the needs of an increasingly mobile workforce. In 2020, IBM, Microsoft, and Google controlled the cloud industry and adopted many sophisticated technologies for data analysis, such as AI and ML. Mining this large volume of data for real-time insights introduces new problems and opportunities for cloud infrastructure in the future. The worldwide data-centric security market is being driven by the rising need for data-centric security solutions in big and small organizations to provide superior data protection to their cloud applications. For example, Informatica offers Smart Cloud ServicesSM, which provides data protection in data center failover, user authentication and access control, OS-level encryption, database databases, and applications. According to Informatica, approximately 85% of organizations believe that limiting access to data to those who need it and with whom it is shared is the most critical capability in data-centric security.
Data grows faster and flows freely anywhere and everywhere in the cloud, according to the needs of an increasingly mobile workforce. Mining this massive volume of data for real-time insights presents new challenges to the Global Data-Centric Security Market.
The developing call for the aid of using corporations massive and small for cloud statistics safety is anticipated to pressure the statistics-centric protection market. In addition, lack of data literacy skills, issues in managing exponentially bigger data, complex processes that hold data hostage, and data literacy gaps are some organizational challenges faced. The market challenges such as competitive systems becoming available in the market are hampering the global data-centric security market. Furthermore, the bring your own devices and shifting from office setup to remote work scenarios are the major factors propelling the global data-centric security market.
The major players in the global data center security market are IBM, NetApp, Informatica, Concentric.ai, Infogix, Dathena, Secupi, Nucleus Cyber, SealPath, NextLabs, Lepide, BIGID, HelpSystems, Securiti, Digital Guardian, Netwrix, Egnyte, Protegrity, Fasoo, PKWARE, Imperva, Forcepoint, Seclore, OrangeCyberdefense, Varonis Systems, Talend, Microfocus, and Broadcom among others.
Latest Innovations in Global Data-Centric Security Market:
- On February 17, Laminar, the public cloud data security provider announced the Laminar Cloud Data Security Platform that provides enhanced visibility into sensitive data to cloud applications.
Data-Centric Security Market Scope
Metrics | Details |
Base Year | 2022 |
Historic Data | 2018-2019 |
Forecast Period | 2022-2028 |
Study Period | 2018-2028 |
Forecast Unit | Value (USD) |
Revenue forecast in 2028 | USD 11490 Million |
Growth Rate | CAGR of 17.4 % during 2018-2028 |
Segment Covered | By vertical, Regions |
Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
Key Players Profiled | IBM (US), Imperva (US), Informatica (US), Oracle (US), Varonis Systems (US), AvePoint (US), BlueTalon (US), Dataguise (US), Datiphy (US), Micro Focus (UK), NextLabs (US), Protegrity (US) |
Segments of the Global Data-Centric Security Market:
Component Regional Overview (USD Million)
- Software/Solutions
- Data discovery
- Data protection
- Data governance
- Professional Services
- Others
Deployment Mode Overview, (USD Million)
- On-premise
- On-cloud
Organization Size Overview, (USD Million)
- Small
- Medium
- Larges
Industry Overview, (USD Million)
- Banking, Financial, Services, and Insurance (BFSI)
- Government
- Healthcare
- Pharmaceuticals
- IT & Telecom
- Retail
- Others
Regional Overview, (USD Million)
North America
- U.S
- Canada
Europe
- Germany
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
South America
- Mexico
- Brazil
- Rest of South America
- The Middle East and South Africa