Data-centric Security Market Size, Share Report, Analysis, Trends, Growth, 2030

Data-Centric Security Industry Prospective:

The global Data-Centric Security Market size was worth around USD 4.30 Billion in 2022 and is predicted to grow to around USD 15.48 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 16.99% between 2023 and 2030.

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The report analyzes the global Data-Centric Security market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Data-Centric Security industry. 

Global Data-centric Security Market: Overview

Data-centric security is a fundamentally different approach to protecting sensitive data from misuse or theft. The crucial characteristic of data-centric security is that the protection is applied to the data itself independent of the location of the data which makes it different from the perimeter-centric or traditional network security approach which majorly focuses on providing protection where the data is stored or accessed including devices, applications, networks, and servers.

Global Data-centric Security Market: Growth Factors

The global data-centric security market is flourishing at a speedy rate. The rise in the number of cyber-attacks, growing incidences of data breaches, and the increase in the adoption of cloud-based solutions for data storage are some of the major factors that are driving the growth of the global market. With the growing use of cloud computing, sensitive data can be stored or transit through systems that are outside the traditional perimeter. Cloud has no borders and thus the data is free to flow everywhere or anywhere it is required by a large number of the mobile workforce and thus requires efficient data security.

In addition to this, the severity and frequency of data breaches are increasing enormously. In the first two quarters of the year 2019, approximately 4000 distinct incidents led to the exposure of over 4.1 billion records. Hence, there is a need for a shift in cybersecurity strategy to uphold a secure perimeter around the applications and systems to protect the data against unofficial access.

In such scenarios, data-centric security can play a vital role as it prevents the misuse of sensitive data outside & inside of the organization, avoids reputational damage & financial losses of a data breach, enhance security awareness efforts to diminish cyber threats, maintain compliance with privacy regulations & data protection, and separates valuable information that may be targeted from less valuable information.

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All these factors have resulted in the growing adoption of data-centric security thereby contributing to the growth of the global data-centric security market. Moreover, big data generated at a rapid pace and growing demand for data-centric security by the government to protect sensitive data are some of the key features that are augmenting the growth of the global market.

Furthermore, the rise in the implementation of advanced technologies such as machine learning and artificial intelligence for the analysis of data may provide several opportunities for the growth of the global data-centric security market over the forecast period. However, easily available open-source data protection software and a lack of professional workers may restrain the growth of the global data-centric security market.

During the Covid-19 pandemic, to follow the strict rules of complete lockdown and restriction on movement, most of organizations have implemented a remote working policy for their employees. Employees of more than 80 percent of the organizations are been working from home. This completely revolutionized the principles of remote working. Even small organizations adopted cloud-based solutions for smooth working processes. On the other hand, the incidence of data breaches and cyber-attack increased during the pandemic. Thus, the need for data-centric security increased substantially which in turn fostered the growth of the global data-centric security market during the pandemic and is also expected to witness a healthy growth rate in the forthcoming years.

Global Data-centric Security Market: Segmentation

The global data-centric security market is fragmented based on organization size, deployment mode, component, vertical, and region.

Based on the organization size, the global data-centric security market is split into large enterprises and small & medium-sized enterprises (SMEs). The deployment mode segment consists of on-premise and on-cloud.

Based on the component, the global market is bifurcated into professional services and software & solutions.

The vertical segment is split into retail, telecommunication, IT & enterprises, healthcare & pharmaceuticals, government & defense, BFSI, and others.

Global Data-centric Security Market: Report Scope

Global Data-centric Security Market: Regional Analysis

North America is estimated to lead the global data-centric security market and may retain its dominance over the forecast period. Factors such as the rise in incidences of cyber-attacks, the rise in the use of cloud-based solutions, and the growing demand for data-centric security solutions from the well-established defense sector are contributing to the growth of the market in this region. Asia Pacific is expected to grow fastest due to the rapidly expanding mobile workforce and the growing necessity for the protection of sensitive data to avoid financial losses.

Global Data-centric Security Market: Competitive Players

Some of the key participants that are operating in the global data-centric security market are 

• Lepide
• Forcepoint
• OrangeCyberdefense
• Talend
• Varonis Systems
• Microfocus
• Broadcom
• IBM
• NetApp
• Informatica among others.

The Data-centric Security market is segmented as follows:

By Organization Size

• Small & Medium-Sized Enterprises (SMEs)

By Deployment Mode

• On-Premise and On-Cloud

By Component

• Professional Services
• Software & Solutions

By Vertical

• Retail
• Telecommunication
• It & Enterprises
• Healthcare & Pharmaceuticals
• Government & Defense
• Bfsi 
• And Others

Global Data-centric Security Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa

What Reports Provide

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, ongoing, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.