Growth opportunities in the Data-centric Security market look promising over the next six years. This is mainly due to the stringent compliances and regulations, increasing cybertheft incidents, and the mounting demand for cloud-based data indemnity.
Data-centric Security market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Several prominent drivers supplementing the growth of the data-centric security market include the escalating demand for cloud-based data protection, rigorous concessions, and rules, and augmented data risk led by the exploitation of big data analytics, Machine Learning (ML), and Artificial Intelligence (AI) technology. The data production rate has accelerated in structured, semi-structured, and unstructured formats. Thus, they are proceeding in the direction of digitalization and data-centric security. It offers an inclusive way to safeguard data compliance and confidentiality. They are implemented to data at rest and data in use and can use enormous protection methods through tokenization and masking, encryption, and data administration and consent. Moreover, these solutions are more concerned about the surveillance and privacy of data rather than the safety of endpoints, networks, and applications. In addition, the rising cases of cyber-attacks are bolstering market growth.
Furthermore, the widespread outbreak of the coronavirus pandemic has restructured the employment of digital technology. Organizations must switch their systems and adapt to the cloud and digital platforms by taking relevant protective measures like perimeter security during the COVID-19. In accordance with the National Broadcasting Company, 33,000 unemployment prospects were exposed to a data security breach from the Pandemic Unemployment Assistance program in May 2020. However, the incomprehension of enterprises related to security violations due to internal vulnerabilities hinders market growth. Moreover, low budget concerns and little knowledge about data security are other factors projected to curb the data-centric security market share.
Regional Drivers
Based on the regional coverage, Asia-Pacific is predicted to witness a higher CAGR during the forecast period. This is primarily attributed to mobile workforce expansion accompanied by the accelerating penetration of mobile devices. They are pliable to endorse these security solutions to secure their crucial and sensitive business data from commercial espionage and cyber threats of computer hackers. APAC countries like China and Japan have extensively acquired encryption technologies to protect data from being stolen.
Data-centric Security market’s leading Manufacturers:
- Lepide
- Imperva
- Cyberdefense
- Varonis
- Informatica
- Micro Focus
- Talend
- Forcepoint
- SECLORE
- Broadcom
Data-centric Security market Segmentation:
Segmentation by Component
- Software and Solutions
- Data discovery and classification
- Data Protection
- Data governance and compliance
- Other
- Professional Services
Segmentation by Deployment mode
- On-premise
- On-cloud
Segmentation by Organization size
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Segmentation by Verticals
- Banking, Financial, Services, and Insurance (BFSI)
- Government and Defense
- Healthcare and Pharmaceuticals
- IT and Enterprises
- Telecommunciation
- Retail
- Other
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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