Data-centric security Market

Data-centric Security market size reached USD 3.1 billion in 2021 and is estimated to reach USD 14.8 billion in 2029 and the market is estimated to grow at a very high CAGR of 21.6% from 2022-2029

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Major Data-centric Security market Drivers

The major factors driving Data-centric security include increasing demand for cloud-based data security, stringent compliances and regulations, and elevated data risk due to the exploitation of big data analytics, Machine Learning (ML), and Artificial Intelligence (AI) technology. The pace of data production has increased in structured, semi-structured, and unstructured formats. Henceforth, they are moving in the direction of digitalization and data-centric security. It provides a comprehensive way to protect data compliance and privacy. They are applied to data at rest, data and data in use and can engross several processes of protection through encryption, tokenization and masking, and data governance and compliance. Additionally, these solutions are concerned about the privacy and security of data rather than the security of networks, endpoints, and applications. Furthermore, the increasing cyberattack incidents is aiding to the growth of data-centric market share. Hence, the above-mentioned factors are aiding the data-centric security market size to expand globally.

Increasing adoption of cloud computing platforms and virtualization techniques by businesses to store information has made the network vulnerable, increasing the need to adopt exhaustive means, is expected to pave the way for the market. Factors such as the advent of software defined storage, emerging trend of bring your own device, and the virtualization of workplaces are projected to drive the market growth.  The growing emphasis of national and international authorities to regulate the industry about the privacy and integrity has augmented the need fir compliance management systems, bolstering the data-centric security market. The increasing adoption of cloud-based data-centric security software and the complications involved in security software are the major factors propelling the market growth.

The COVID-19 pandemic has revolutionized the usage of digital technology. Organization’s must shift their systems to the cloud and digital platforms by taking appropriate security measures like, perimeter security during the pandemic. According to National Broadcasting Company, 33,000 unemployment prospects were exposed to a data security violation from the Pandemic Unemployment Assistance program in May 2020.

Restraint in the Data-centric security Market

However, the organization’s ignorance related to security breaches due to internal vulnerabilities hinders the growth of the global Data-centric security market. Furthermore, low budgets concerns and little knowledge about data security are the restraining factors hampering the growth of data-centric security market share.

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Component – Segment Analysis

Based on the Component, the Software and Solutions segment is expected to grow at a higher CAGR during the forecast period. Data discovery is most crucial phase of data-centric security. It helps in finding sensitive data from the group of scattered data sets available. Enterprises and industry domain uses it to gain visibility into the location, volume, context, and risk involved with sensitive unstructured data available on both platforms, on-premises, and in the cloud. Moreover, by classifying the relevant data, appropriate security and control measures can be applied to protect the internal and external factors.

Verticals – Segment Analysis

Based on the Verticals, the Healthcare and Pharmaceuticals segment is projected to dominate the market during the forecast period. The healthcare vertical contains personal health information about a patient that needs high defence system has been of utmost helpful to this vertical. Furthermore, the increasing need to protect internal healthcare data of hospitals is inevitable because they do not focus on the protection of the internal data. HIPAA, implementing regulatory compliance, protects the identities by providing a digital signature and databases. Also, the incidents of hospital data thefts and awareness of regulatory compliances, the market is expected to grow in coming years.

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Regional – Segment Analysis:

Based on the regional, the Asia-Pacific region is expected to grow at a higher CAGR during the forecast period owing to mobile workforce expansion, propagated with the rising adoption of mobile devices. Asia Pacific is projected to witness a significant growth over the upcoming years because of the growing IT spending and rising adoption of cloud in small and medium enterprises in the region. They are receptive to adopting dedicated data-centric security solutions to protect their critical and sensitive business data from commercial espionage and cyber threats of the computer hackers. APAC countries like, China, and Japan have widely adopted encryption technologies to protect data from being stolen. Several enterprises and SMEs across the Asia-Pacific region have implemented data-centric security solutions to prevent their sensitive business data from cyber threats, commercial espionage, and data misuse for monetary gain by computer hackers, driving the market growth.

Top Market Players

Various notable players operating in the market, include, Informatica, Broadcom., Micro Focus, Varonis, Talend, Cyberdefense, Forcepoint, Imperva., SECLORE., Lepide, among others. 

Key Developments:

• • In 2021, Varonis Systems, Inc. launched DatAdvantage Cloud, a solution that visualises and prioritises security risk across today’s mission-critical SaaS apps and cloud data repositories, supporting more cloud applications and infrastructure
  • In 2019, Seclore, a leading player combining best-of-breed data-centric security solutions launched the Seclore Endpoint Auto-Protector SDK as part of their Data Centric-Security Platform
  • In 2021, Lepide upgraded its Data security platform; version 21.1 emphasizes on firm’s unstructured data sets. The benefits of the new version include priority-based scaling and affordable implementation cost.

Segments covered in the Report:

The global Data-centric security market has been segmented on the basis of Component, Deployment mode, Organization size, Verticals and regions. Based on Component, the market is segmented into Software Solutions and Professional Services. The Software Solutions segment is further categorized into Data discovery and classification, Data protection, Data governance and Compliance and Others. Based on Deployment mode, the market is segmented into On-premise and On-cloud. Based on Organization size, the market is segmented into Small and Medium-sized Enterprises (SMEs) and Large Enterprises. Based on Verticals the market is segmented into Banking, Financial, Services, and Insurance (BFSI), Government and Defense, Healthcare and Pharmaceuticals, IT and Enterprises, Telecommunication, Retail and Other. 

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Market Segmentation

Global Data-centric security Market by Component

• • Software and Solutions
    • Data discovery and classification
    • Data Protection
    • Data governance and compliance
    • Other
  • Professional Services

Global Data-centric security Market by Deployment mode

• • On-premise
  • On-cloud

Global Data-centric security Market by Organization size

• • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises

Global Data-centric security Market by Verticals

• • Banking, Financial, Services, and Insurance (BFSI)
  • Government and Defense
  • Healthcare and Pharmaceuticals
  • IT and Enterprises
  • Telecommunciation
  • Retail
  • Other

Global Data-centric security Market by Region

• • North America Data-centric security Market (Option 1: As a part of the free 25% customization)

    • By Component
    • By Deployment mode
    • By Organization size
    • By Verticals
    • US Market All-Up
    • Canada Market All-Up

  • Europe Data-centric security Market (Option 2: As a part of the free 25% customization)

    • By Component
    • By Deployment mode
    • By Organization size
    • By Verticals
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Data-centric security Market (Option 3: As a part of the free 25% customization)

    • By Component
    • By Deployment mode
    • By Organization size
    • By Verticals
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Data-centric security Market (Option 4: As a part of the free 25% customization)

    • By Component
    • By Deployment mode
    • By Organization size
    • By Verticals
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Data-centric security (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Informatica
  • Broadcom.
  • Micro Focus
  • Varonis
  • Talend
  • Cyberdefense
  • Forcepoint
  • Imperva.
  • SECLORE.
  • Lepide