Data-Centric Security Market Size, Share & Industry Analysis, By Component (Software, Solutions, Professional Services), By Solutions (Data Protection, Data Privacy, Cyber Security), By Enterprises (Large, Medium, Small), By End-User (IT and Enterprises, Telecommunication, Government, BFSI) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Data-centric security is a new way to preventing sensitive data from being stolen or misused. Various factors such as stringent compliances and regulations, increasing risk on enterprise data due to exploitation of big data analytics, machine learning, and artificial intelligence will accelerate the data-centric security market globally. Additionally, as the number of cyberattacks rises, data-centric security solutions are becoming an increasingly important part of enterprises mission-critical data protection strategies. The worldwide data-centric security market is in its early stages of with constantpersistentconstant development and is likely to grow rapidly in the next years as end-users concern about data security.
One of the key growth factor for the market is the increasing adoption of cloud-based data-centric security software. The data-centric security software industry is also predicted to benefit from the complexity involved in security software.
The outbreak of the COVID-19 pandemic is likely to drive the demand for data centric security market. Most of the companies responded to this new normal by transferring their assets and resources to the cloud and digital platforms, as well as installing appropriate security measures such as network security and perimeter protection. The market is looking for software and solutions that can protect data independently of where it is maintained in lockdown and after lockdown.
Key Market Driver -
Increased cyber-attacks during the pandemic are a major element in making data-centric security a priority today
Key Market Restraint -
The lack of technical expertise among enterprise employees is a significant challenge to data-centric security which will hamper market growth
Key Players Covered:
The major companies in the global data-centric security market report include NetApp, Broadcom, Microfocus, Netwrix, Seclore, HelpSystem, Nextlabs, Lepide, Nucleus Cyber, Varonis System, Orange Cyber Defense, Dathena, Imperva, Talend and others.
Regional Analysis:
North America is expected to hold a major market share in the global market. The United States and Canada relatively boast good economic performance. Asia Pacific is likely to exhibit a remarkable market growth with highest CAGR during the forecast period. APAC has been one of the fastest-growing regions in terms of mobile workforce expansion, owing to the region's expanding adoption of mobile devices. Countries in the Asia-Pacific region, such as Australia, China, and Japan, have widely implemented encryption technologies to prevent data theft. Popular APAC countries like Singapore and India are increasingly making strides toward implementing superior data-centric security solutions.
Enterprises and SMEs in APAC are acknowledging the importance of data-centric security and are open to implementing dedicated data-centric security solutions to protect their critical and sensitive business data from commercial espionage, cyber threats, and data misuse for monetary gain by computer hackers
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Segmentation
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Data-centric Security Industry Developments
- In May 2021, Varonis Systems, Inc. has announced DatAdvantage Cloud which is a solution that visualises and prioritises security risk across today's mission-critical SaaS apps and cloud data repositories, now supports more cloud applications and infrastructure
- In September 2019, Seclore, a pioneer in combining best-of-breed data-centric security solutions introduced the Seclore Endpoint Auto-Protector SDK as part of their Data Centric-Security Platform
- Ongoing
- 2023
- 2019-2022
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