REPORT HIGHLIGHT
Data centric security market size was valued at USD 4,306.1 Million in 2022, expanding at a CAGR of 26.3% from 2023 to 2030.
Data-centric security solutions offer a comprehensive way to protect an enterprise's data privacy and compliance. Additionally, these solutions can be applied to data in use, data at rest, and data in transit and can involve various processes, including data protection via encryption, data classification and discovery, data governance & compliance, and tokenization & masking. Moreover, instead of the security of endpoints, networks, and applications, these solutions are concerned with the security and privacy of data. Furthermore, to save mission-critical data, the rise in instances of cyberattack makes data-centric security solutions a crucial component in organizations.
Data Centric Security Market- Market Dynamics:
- Rise in digitization trends and digital data production
- Digital data creation has increased significantly and it is not likely to slow down in the near future. In addition, one of the major drivers is the growing penetration of digital devices including personal (or work) computers and smartphones in the daily lifestyle of people. Moreover, to protect consumer and corporate data, the requirement for data-centric security solutions has increased with these data trends and increasing volume of data. As a result, the data-centric security market has grown considerably in recent years. However, in mainstream applications, less interest in data-centric security approaches and greater implementation costs are expected to restrain market growth. Furthermore, in the modern world, rising dependency on cloud and digital computing trends along with increasing dependence of companies and their business operations on cloud networks for various applications ranging from payments and data storage to running the whole business through the cloud. On behalf of this, in the business world rising dependence on the cloud has been has been influencing many small and medium-level enterprises to save their data stored/exchanged through the cloud, thus in turn increasing their investment in data-centric security solutions and services.
Data Centric Security Market- Key Insights:
- As per the analysis shared by our research analyst, the global data centric security market is estimated to grow annually at a CAGR of around 26.3% over the forecast period (2023-2030)
- The data centric security industry is projected to grow at a significant rate due to the growing instances of cyberattack
- Based on solution segmentation, service was predicted to show maximum market share in the year 2022
- Based on vertical segmentation, large enterprises was the leading type in 2022
- On the basis of region, North America was the leading revenue generator in 2022
Data Centric Security Market- Segmentation Analysis:
- The global data centric security market is segmented on the basis of solution, deployment, vertical, and region.
- The market is divided into two categories based on solutions: services, and solutions. The service segment is likely to possess the market share. The demand for data-centric security services is driven by the rising importance of implementing effective user access controls and assuring the security and safety of regulated and confidential information. Additionally, implementing zero-trust data-centric security services is essential, as it allows an organization to apply the least privileged access approach across different storages and to secure critical datasets in real time.
- The market is divided into three categories based on deployment: on-premise, cloud, and hybrid. The on-premise segment is likely to maintain its dominance over the forecast period. Highly regulated industries or organizations with strict governance policies commonly prefer to control their data assets completely. Moreover, the on-premise data-centric security solution permits organizations to provide complete control over data storage, and access, to maintain their data within their physical infrastructure, and to security.
- The market is divided into two categories based on enterprise size: large enterprises and small & medium-sized enterprises. The large enterprises' segment is expected to hold the largest revenue share owing to the growing cyberattacks across large enterprises. In addition, the huge data storage resource and set access on these storage units have boosted the demand for the data-centric security market. The requirement to approach highly advanced cybersecurity such as data-centric security solutions has emerged due to the increasing integrity and complexity of cyberattacks. Moreover, these solutions give organizations increased visibility allowing them to enforce & monitor data protection policies effectively and respond to & detect security incidents timely. The market is divided into five categories based on vertical: BFSI, IT & telecom, government & public sector, retail, healthcare, and others. The BFSI segment is likely to maintain its dominance over the forecast period. The BFSI sector stores sensitive and valuable data, such as financial details, personal information, and trade secrets. Moreover, for cyberattacks, it makes BFSI a prime suspect. The growing frequency and sophistication of cyber threats have made a greater impact on deploying a robust data security approach.
Data Centric Security Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Data Centric Security Market- Competitive Landscape:
An increase in advances by manufacturing, IT, and electronics sectors globally are achieving traction from consumers, this drive the demand for the Internet of Things. Additionally, increasing penetration of smartphone users and rising usage of the internet across the world are the factors for the market's growth. Moreover, the growth of security service providers who provide security as a service to end clients inhibits by the availability of open-source data protection software. Markey players are also adopting various strategies to expand their business growth including mergers, collaboration, and partnerships. For instance, in February 2021, Lepide announced a partnership with Atakama to further secure sensitive data. In addition, they together will be able to effectively identify where their sensitive data is located across their hybrid environment, govern access to it, classify it, analyze user activity, and secure it with AES 256-bit encryption.
Recent Developments:
For instance, in May 2021, Varonis Systems, Inc. announced support for additional cloud applications and infrastructure via DatAdvantage Cloud. Additionally, a solution that prioritizes and displays security risk across todays mission-critical SaaS applications and cloud data stores.
Key features of the study:
- This proposed research study on data centric security market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year.
- The report provides the client the latest up-to-date and trending insights about the data centric security market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for data centric security market.
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the data centric security market.
- Impact of COVID-19 on data centric security market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on data centric security market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the data centric security market, we have also included competitive landscape and key innovator analysis for the data centric security y market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offersdetailed company profiling featuring major market participantswhich will help users to understand their financial information and strategic initiatives of players operating in the data centric security market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global data centric security market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL DATA CENTRIC SECURITY MARKET KEY PLAYERS
- IBM
- Forcepoint
- Seclore
- Imperva
- Symantec (now NortonLifeLock)
- Egnyte
- NetApp
- Infogix
- Informatica
- Varonis
- Orange Cyberdefense
- Micro Focus
- Microsoft
- Netwrix
- Thales eSecurity
- McAfee
GLOBAL DATA CENTRIC SECURITY MARKET, BY SOLUTION
GLOBAL DATA CENTRIC SECURITY MARKET, BY DEPLOYMENT
GLOBAL DATA CENTRIC SECURITY MARKET, BY ENTERPRISE SIZE
- Large Enterprises
- Small and Medium-sized Enterprises
GLOBAL DATA CENTRIC SECURITY MARKET, BY VERTICAL
- BFSI
- IT and Telecom
- Government and Public Sector
- Retail
- Healthcare
- Others
GLOBAL DATA CENTRIC SECURITY MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA