Market Analysis and Insights:
The market for Global Data-Centric Security was estimated to be worth USD 4.74 billion in 2023, and from 2023 to 2030, it is anticipated to grow at a CAGR of 24.03%, with an expected value of USD 21.58 billion in 2030.
The market for data-centric security is experiencing substantial growth due to the rising demand for ened data security and adherence to regulatory requirements across diverse sectors. Concerns around the security of sensitive information have been exacerbated by the escalating frequency of data breaches and cyber-attacks, prompting a surge in the necessity for data-centric security solutions. The expanding implementation of cloud computing and the widespread utilization of IoT devices are additional factors propelling the need for robust data security measures. Organizations are placing increased emphasis on safeguarding data at all stages – at rest, in transit, and in use, which has led to the uptake of advanced encryption, tokenization, and access control tools. Stringent data protection regulations like GDPR and CCPA, as well as privacy laws, are pushing companies towards the adoption of data-centric security solutions to prevent severe penalties and uphold customer confidence. Moreover, businesses are recognizing the financial and reputational risks linked to data breaches, further fuelling the market expansion. In essence, the data-centric security sector is witnessing notable growth driven by the imperative requirement for comprehensive data protection and regulatory conformity in an increasingly digitalized and interconnected environment.
Data-Centric Security Market Scope:
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 21.58 billion |
| Growth Rate | CAGR of 24.03% during 2023-2030 |
| Segment Covered | By Component, By Solutions, By Enterprises, By Deployment, By End-User, By Region . |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | IBM Corporation, Oracle Corporation, Microsoft Corporation, Symantec Corporation, McAfee LLC, Check Point Software Technologies Ltd., Trend Micro Incorporated, Dell Technologies Inc., Informatica Corporation, and Gemalto NV. |
Market Definition
Data-centric security is a strategic approach that emphasizes the protection of confidential information at the level of the individual, rather than solely depending on network or system-based security protocols. This strategy entails the deployment of rules and safeguards to ensure the security of data across its entire lifecycle, encompassing storage, communication, and processing stages.
In the contemporary digital environment, the importance of data-centric security cannot be overstated due to the escalating threat landscape and the continuous growth of confidential information being stored and transmitted. This strategy emphasizes the protection of data itself, irrespective of its whereabouts or method of transfer, rather than solely relying on perimeter defenses. By integrating strong data-centric security practices such as encryption, tokenization, and access controls, businesses can ensure the security of their valuable data assets from unauthorized breaches, theft, and exploitation. Apart from aiding in compliance with data protection laws, this approach also helps in upholding customer trust and corporate reputation. Furthermore, data-centric security serves to mitigate potential financial harm, legal responsibilities, and reputational damage stemming from data breaches, establishing it as a vital element of any comprehensive cybersecurity plan in the present digital age.
Key Market Segmentation:
Insights On Key Component
Software
The software component is expected to dominate the Global Data-Centric Security Market. This can be attributed to the increasing adoption of data-centric security solutions by organizations to safeguard their critical data from rising cyber threats. Data-centric security software offers various features such as encryption, access control, and data loss prevention, which are essential for securing sensitive data. With the growing awareness about data privacy and protection regulations, companies are realizing the importance of implementing robust data-centric security measures. As a result, the demand for software solutions that provide comprehensive data protection is expected to witness significant growth in the global market.
Professional Services
Professional services, including consulting, implementation, and training, play a crucial role in the successful deployment and management of data-centric security solutions. While software may dominate the Global Data-Centric Security Market, the professional services part will also witness substantial growth. Organizations often require specialized expertise to effectively implement data-centric security measures and comply with industry regulations. Professional service providers offer consultation and guidance to help companies assess their security needs, develop tailored solutions, and train personnel on best practices. With the rising complexity of data security challenges, the demand for professional services is expected to increase.
Solutions
Although software is expected to dominate the Global Data-Centric Security Market, the solutions component will also have a significant presence. Data-centric security solutions encompass a wide range of technologies and tools that help organizations protect their critical information assets. These solutions often include data classification, encryption, access control, data loss prevention, and other security measures. While software primarily pertains to the development and deployment of these solutions, the solutions part includes the integration and customization of data-centric security technologies. As companies continue to prioritize data protection, the demand for comprehensive and integrated data-centric security solutions will persist.
Insights On Key Solutions
Data Protection
Data protection is expected to dominate the Global Data-Centric Security Market. With the proliferation of data breaches and increasing regulatory requirements, organizations are prioritizing the security of their sensitive data. Data protection solutions help in safeguarding data through encryption, access controls, and data loss prevention mechanisms. This part is expected to dominate as organizations seek comprehensive solutions to protect their data assets from unauthorized access, data breaches, and ransomware attacks. Additionally, the growing adoption of cloud computing and the need for secure data storage further drive the demand for data protection solutions in the market.
Data Privacy
While data protection is expected to dominate the Global Data-Centric Security Market, data privacy is an equally important solution. Data privacy solutions focus on compliance with privacy regulations such as the General Data Protection Regulation (GDPR) and ensuring individuals' personal data is handled securely and with consent. Organizations are increasingly investing in data privacy solutions to avoid hefty fines and reputational damage associated with non-compliance. While data privacy is crucial, it is more of a complementary aspect to data protection rather than a dominating part in the market.
Cyber Security
Cyber security solutions play a vital role in protecting data-centric environments. However, in the context of the Global Data-Centric Security Market, data protection takes precedence over general cyber security. While cyber security encompasses a broader scope of protecting systems and networks from various threats, data-centric security focuses specifically on securing sensitive data. Hence, although cyber security is essential, it is expected to take a secondary position compared to data protection in terms of market dominance.
Data Classification
Data classification involves categorizing data based on its sensitivity and importance, allowing organizations to prioritize its protection. While data classification is a key component of data-centric security, it is not expected to dominate the market. Data classification is often implemented in conjunction with other parts such as data protection and data privacy to enhance overall data security. It assists in identifying critical data that requires stringent protection measures. However, its influence is limited compared to data protection, which offers a comprehensive approach to securing data assets against a wide range of threats.
Insights On Key Enterprises
Small
The Small Enterprises are expected to dominate the Global Data-Centric Security Market. Small enterprises have been increasingly recognizing the importance of data-centric security and are adopting measures to safeguard their sensitive information. With the growing prevalence of cyber threats and data breaches, small enterprises are investing in advanced security solutions to protect their data assets. Additionally, advancements in technology have made data-centric security solutions more affordable and accessible for small enterprises. As a result, small enterprises are likely to emerge as the dominant part in the Global Data-Centric Security Market.
Large
Large enterprises, as a player of Enterprises, are expected to have a significant presence in the Global Data-Centric Security Market. Large enterprises usually possess vast amounts of sensitive data that need to be protected from security breaches. Therefore, they are more inclined to invest in comprehensive data-centric security solutions to ensure the confidentiality and integrity of their information. Furthermore, large enterprises often have more resources and budgets available for cybersecurity measures, allowing them to adopt advanced technologies and implement robust security protocols. These factors position large enterprises as a key player in the Global Data-Centric Security Market.
Medium
Medium enterprises, under the Enterprises sector, are also expected to have a notable presence in the Global Data-Centric Security Market. Medium enterprises face similar data security concerns as large and small enterprises. However, their investments in data-centric security solutions may be influenced by factors such as budget constraints and limited resources. Nevertheless, with the increasing awareness of data breaches and the importance of protecting sensitive information, medium enterprises are likely to allocate a significant portion of their budgets to data-centric security. A combination of scalable and cost-effective security solutions tailored to the needs of medium enterprises would enable them to enhance their data protection capabilities.
Insights On Key Deployment
Cloud
The Cloud deployment is expected to dominate the Global Data-Centric Security Market. With the increasing adoption of cloud computing and storage services among organizations, there is a growing need for robust security measures to protect sensitive data in the cloud. Cloud-based data-centric security solutions offer several advantages such as scalability, flexibility, and cost-effectiveness. These solutions enable organizations to efficiently manage and secure their data assets in a centralized and easily accessible manner. Furthermore, advancements in cloud technology, including encryption, tokenization, and data loss prevention tools, have enhanced the security capabilities of cloud-based data-centric security solutions. As a result, the Cloud part is likely to dominate the market.
On-Premise
While the Cloud deployment is expected to dominate the Global Data-Centric Security Market, the On-Premise deployment still holds significance in certain industries and organizations. Some enterprises prefer to have full control over their data and infrastructure, particularly those operating in highly regulated industries or dealing with sensitive information. These organizations may opt for on-premise data-centric security solutions to ensure the highest level of control and security over their data assets. Additionally, companies with limited internet connectivity or concerns about data privacy and compliance may favor on-premise solutions. Although the dominance of the On-Premise part may decrease over time due to the advantages offered by cloud-based solutions, it is expected to maintain its presence in niche markets.
Insights On Key End-User
Healthcare
The Healthcare sector is expected to dominate the Global Data-Centric Security Market. With the increasing adoption of electronic health records (EHRs) and the growing volume of patient data, healthcare organizations are facing significant challenges in protecting sensitive information. Data-centric security solutions offer enhanced encryption and access controls, enabling healthcare providers to safeguard patient data and comply with stringent regulatory requirements such as the Health Insurance Portability and Accountability Act (HIPAA). Moreover, the proliferation of telemedicine and digital health platforms further amplifies the need for robust data protection in the healthcare sector. Therefore, the Healthcare part is anticipated to dominate the Global Data-Centric Security Market.
IT and Enterprises
The IT and Enterprises sector is poised to witness substantial growth in the Global Data-Centric Security Market. With the exponential increase in data generation and storage, businesses across various industries are seeking advanced security solutions to protect their sensitive information from unauthorized access and potential threats. The IT and Enterprises sector encompasses a wide range of industries, including manufacturing, e-commerce, energy, and services. These organizations handle massive amounts of data, ranging from customer profiles to intellectual property, making them prime targets for cybercriminals. By implementing data-centric security solutions, IT and Enterprises can ensure the confidentiality, integrity, and availability of their critical data assets, fostering trust among their customers and preserving their brand reputation.
Telecommunication
The Telecommunication sector is also expected to show significant potential in the Global Data-Centric Security Market. As telecommunications providers play a vital role in enabling seamless data transmission and connectivity, protecting sensitive customer information becomes paramount. With the increasing prevalence of 5G networks and the ever-growing volume of data being transmitted, the risks of data breaches and cyber attacks also escalate. By utilizing data-centric security solutions, telecommunication companies can safeguard their infrastructure, detect and mitigate potential threats, and ensure the privacy of customer communication and data.
Government
The Government sector is a critical player in the Global Data-Centric Security Market. Government agencies at various levels collect and store vast amounts of sensitive information, including citizen records, national security data, and confidential government operations. Data-centric security solutions empower government organizations to strengthen their cybersecurity posture, enhance data privacy, and protect against sophisticated threats. By leveraging advanced encryption, strict access controls, and robust data monitoring capabilities, the Government part can effectively safeguard classified information and ensure the trust and integrity of government operations.
BFSI
The BFSI (Banking, Financial Services, and Insurance) sector great potential in the Global Data-Centric Security Market. With the digitalization of financial services and the increasing prevalence of online transactions, the BFSI sector faces significant challenges in safeguarding customer financial data, personal information, and intellectual property. Data-centric security solutions offer robust encryption algorithms, access controls, and real-time threat detection, empowering banks, insurance companies, and other financial institutions to prevent unauthorized access, detect fraud, and comply with industry regulations. By adopting data-centric security measures, the BFSI part can enhance customer trust and mitigate financial and reputational risks.
Retail & Consumer Goods
The Retail & Consumer Goods sector is expected to witness notable growth in the Global Data-Centric Security Market. Retailers and consumer goods companies handle vast volumes of customer data, including personal information, payment details, and purchase histories. Protecting this sensitive data from cyber threats is essential to maintaining customer loyalty and complying with data protection regulations. By implementing data-centric security solutions, the Retail & Consumer Goods part can safeguard customer data, prevent data breaches, and ensure secure e-commerce transactions, ultimately enhancing customer confidence and driving business growth.
Defense
The Defense sector plays a crucial role in the Global Data-Centric Security Market, particularly in relation to national security and military operations. The defense sector deals with highly classified information, including intelligence data, military strategies, and weapon systems. Ensuring the confidentiality, integrity, and availability of this sensitive information is critical to national security. Data-centric security solutions provide the defense sector with advanced encryption, access controls, and threat detection capabilities, enabling secure data sharing, reduced vulnerabilities, and protection against cyber threats. By adopting data-centric security measures, the Defense part can safeguard sensitive military information and maintain a robust security posture.
Others
The Others category consists of various industries and organizations that do not fall into the specific categories mentioned above. While it is difficult to highlight a particular dominating factor within this part, it is crucial for organizations in this category to understand the unique risks and challenges they face in protecting their data. By adopting data-centric security solutions tailored to their specific requirements, organizations in the "Others" part can enhance their cybersecurity posture, protect sensitive information, and mitigate potential threats. This part encompasses industries such as education, transportation, hospitality, and entertainment, among others.
Insights on Regional Analysis:
Europe
Europe is expected to dominate the global data-centric security market. Several factors contribute to Europe's dominance in this market. One of the main reasons is the presence of technologically advanced countries such as Germany, France, and the United Kingdom. These countries have a strong focus on data protection and security, leading to significant investments in data-centric security solutions. Additionally, Europe has stringent regulations such as the General Data Protection Regulation (GDPR), which require organizations to implement robust data security measures. This has led to increased demand for data-centric security solutions to comply with these regulations. Furthermore, the region has a high level of digitalization across various industries, including finance, healthcare, and manufacturing, which further drives the adoption of data-centric security technologies. Overall, Europe's advanced technology landscape, strict regulatory environment, and digitalized industries position it as the dominating region in the global data-centric security market.
North America
North America is a key player in the global data-centric security market. The region is home to several leading technology companies and has a mature cybersecurity industry. The United States, in particular, is a major contributor to the market growth, with companies in sectors such as finance, healthcare, and defense investing heavily in data-centric security solutions. The increasing number of data breaches and cyber-attacks in the region has further fueled the demand for advanced security measures, driving the growth of the data-centric security market. Additionally, the presence of a large number of data-intensive industries and the high adoption of cloud computing and big data analytics also contribute to the region's dominance in this market.
Asia Pacific
Asia Pacific is anticipated to witness significant growth in the global data-centric security market. The region is experiencing rapid economic growth, digital transformation, and increasing adoption of advanced technologies. Countries like China, India, Japan, and South Korea are investing heavily in developing their cybersecurity capabilities to protect sensitive data. The region also has a large and growing population of internet users, which presents both opportunities and challenges for data-centric security providers. With the increasing reliance on digital technologies and the rising threat of cyber-attacks, organizations in Asia Pacific are inclined towards investing in data-centric security solutions. Factors such as stringent government regulations, growing awareness about data privacy, and the expansion of industries such as finance, e-commerce, and healthcare contribute to the growth of the data-centric security market in Asia Pacific.
Latin America
Latin America is expected to witness moderate growth in the global data-centric security market. The region is experiencing increasing digital adoption, and organizations are recognizing the importance of data protection. Countries like Brazil and Mexico have seen a rise in cyber-attacks and data breaches, leading to higher demand for data-centric security solutions. However, compared to other regions, the market in Latin America is still relatively underdeveloped. Factors such as limited awareness about data security, budget constraints, and challenges in implementing advanced security measures hinder the market growth to some extent. Nevertheless, as organizations in the region become more digitally mature and regulations regarding data privacy and security become more stringent, the demand for data-centric security solutions is expected to increase.
Middle East & Africa
The Middle East & Africa region is expected to witness steady growth in the global data-centric security market. Countries in this region, particularly those in the Gulf Cooperation Council (GCC), are making significant investments in digital transformation and cybersecurity. Rising cyber-attacks, increasing digitalization across industries, and stringent data protection regulations are driving the adoption of data-centric security solutions. However, the market in the Middle East & Africa is relatively small compared to other regions, primarily due to factors such as limited awareness about data security, budget constraints, and political instability in some countries. Nevertheless, as organizations in the region recognize the importance of securing their data assets and comply with regulations, the demand for data-centric security solutions is expected to grow.
Company Profiles:
Prominent entities in the worldwide Data-Centric Security industry are pivotal in delivering advanced security solutions and services aimed at safeguarding sensitive data from unauthorized intrusions or breaches. These entities concentrate on the creation of inventive technological solutions and tactics to uphold data privacy and adhere to data protection regulations.
Leading companies in the Data-Centric Security Market comprise IBM Corporation, Oracle Corporation, Microsoft Corporation, Symantec Corporation, McAfee LLC, Check Point Software Technologies Ltd., Trend Micro Incorporated, Dell Technologies Inc., Informatica Corporation, and Gemalto NV. These organizations are key contributors to the market, delivering a diverse range of data-centric security solutions and services tailored to different industries and businesses. They have gained recognition as industry leaders by virtue of their technological know-how, substantial client base, and ongoing commitment to pioneering advancements in data security. These pivotal entities play a fundamental role in shaping the landscape of the data-centric security market and propelling its expansion through their resilient offerings and strategic collaborations.
COVID-19 Impact and Market Status:
The worldwide market for data-centric security has experienced substantial expansion, driven by a growing demand for safeguarding data and ensuring privacy in response to the COVID-19 crisis.
The data-centric security market has been significantly impacted by the COVID-19 pandemic. The shift towards remote work and increased digital activities has led to a surge in data breaches and cyber threats, resulting in a ened demand for strong data-centric security solutions. Organizations are now placing a greater emphasis on protecting sensitive data and safeguarding their digital assets. Consequently, the market for data-centric security solutions has experienced substantial growth. Various sectors such as healthcare, finance, and e-commerce have prioritized investments in advanced data protection technologies to ensure the secure transmission and storage of data. Furthermore, the adoption of technologies such as cloud computing and big data analytics has underscored the importance of effective data-centric security measures. Despite challenges such as budget limitations and economic uncertainties stemming from the pandemic, the data-centric security market is poised for continued expansion as businesses increasingly acknowledge the critical role of data protection in today's evolving digital environment.
Latest Trends and Innovation:
- In July 2021, Palo Alto Networks announced the acquisition of Bridgecrew, a developer-first cloud security company.
- In April 2021, Thales completed the acquisition of Gemalto, a digital security provider.
- In March 2021, IBM announced the acquisition of myInvenio, an automation software provider.
- In January 2021, FireEye completed the acquisition of Respond Software, an extended detection and response (XDR) provider.
- In November 2020, McAfee completed the acquisition of Light Point Security, a browser isolation technology company.
- In September 2020, Broadcom acquired Symantec's enterprise security business.
- In July 2020, Microsoft announced the acquisition of CyberX, an IoT security company.
- In May 2020, Okta acquired Auth0, an identity platform.
- In February 2020, RSA Security LLC, a subsidiary of Dell Technologies, announced that STG Partners had signed a definitive agreement to acquire RSA.
- In January 2020, Cisco acquired Voicea, a meeting transcription and voice intelligence platform.
Significant Growth Factors:
The rising demand for strong data security measures, coupled with the expanding usage of cloud computing and Internet of Things (IoT) devices, are significant factors driving the expansion of the Data-Centric Security Market.
The growth of the data-centric security sector has been remarkable in recent times due to several factors. A key factor contributing to this growth is the notable increase in the quantity of confidential information being generated by businesses across various sectors. The adoption of modern technologies like cloud computing and the Internet of Things (IoT) has accelerated the production of data exponentially, posing higher risks of data breaches and cyber intrusions. Consequently, there is a rising demand for sophisticated data-centric security solutions that can safeguard sensitive data at its core.
Moreover, the strict data protection regulations and compliance standards set forth by government authorities and regulatory agencies have further propelled the need for data-centric security measures. Companies are increasingly investing in cutting-edge encryption methods, data loss prevention tools, and access control mechanisms to ensure the security and availability of their data.
Additionally, the increased use of mobile devices and remote work setups has broadened the scope of potential security threats, underscoring the essential nature of data-centric security for organizations. In response to these challenges, industry players in the data-centric security sector are innovating solutions such as tokenization, data masking, and data classification to deliver ened security and management of sensitive data. With the continuous growth in data production, regulatory pressures, and evolving cybersecurity risks, the data-centric security market is poised for significant expansion in the years ahead.
Restraining Factors:
Limiting factors in the Data-Centric Security Market encompass issues pertaining to data confidentiality and adherence to regulations, alongside the substantial expenses associated with establishing and upholding effective data protection protocols.
The growth and adoption of the Data-Centric Security Market are hindered by various obstacles. One key challenge lies in the intricacy of implementing data-centric security solutions, which often perplex organizations in effectively securing their data. Additionally, a lack of awareness and comprehension about data-centric security among businesses acts as a barrier to its widespread acceptance. Many organizations remain oblivious to the potential risks posed by data breaches, thereby not prioritizing investments in data-centric security measures. Moreover, the substantial costs associated with deploying such solutions present a significant challenge, particularly for small and medium-sized enterprises with constrained budgets. The integration of data-centric security solutions with existing IT infrastructure can also prove arduous, leading to compatibility issues and deployment setbacks.
Furthermore, stringent data protection and compliance regulations contribute to the complexity, making it challenging for organizations to guarantee adequate safeguarding of sensitive data. Nevertheless, despite these impediments, the Data-Centric Security Market is expected to experience notable growth in the future. The escalating frequency and severity of data breaches, alongside an increasing emphasis on data privacy, are anticipated to fuel the demand for data-centric security solutions. As organizations acknowledge the necessity of robust data protection measures, they will strive to address the aforementioned challenges, ultimately propelling the market towards a positive growth trajectory.
Key Segments of the Data-Centric Security Market
Component Overview
• Software
• Solutions
• Professional Services
Solutions Overview
• Data Protection
• Data Privacy
• Cyber Security
• Data Classification
Enterprises Overview
• Large Enterprises
• Medium Enterprises
• Small Enterprises
Deployment Overview
• Cloud
• On-Premise
End-User Overview
• IT and Enterprises
• Telecommunication
• Government
• BFSI
• Healthcare
• Retail & Consumer Goods
• Defense
• Others
Regional Overview
North America
• US
• Canada
• Mexico
Europe
• Germany
• France
• U.K
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
Middle East and Africa
• Saudi Arabia
• UAE
• Rest of Middle East and Africa
Latin America
• Brazil
• Argentina
• Rest of Latin America
Frequently Asked Questions (FAQ) :
The market value of data-centric security market in 2030 was USD 21.58 billion.
The data-centric security market is growing at a CAGR of 24.03% over the forecast period.
The data-centric security market is studied from 2018 - 2030.
The top companies that hold the market share in data-centric security market are IBM Corporation, Oracle Corporation, Microsoft Corporation, Symantec Corporation, McAfee LLC, Check Point Software Technologies Ltd., Trend Micro Incorporated, Dell Technologies Inc., Informatica Corporation, and Gemalto NV.
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