Data-centric Security Market Report 2022: Rise in Data Breaches to Provide Opportunities to Data-Centric Security Vendors

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Aug 02, 2022, 09:15 ET

DUBLIN, Aug. 2, 2022 /PRNewswire/ -- The "Data-centric Security Market by Component (Software and Solutions and Professional Services), Deployment Mode (Cloud and On-premises), Organization Size, Vertical (Government and Defense, Healthcare, Telecommunications) Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global data-centric security market size is projected to grow from an estimated value of USD 4.2 Billion in 2022 to USD 12.3 Billion by 2027, at a Compound Annual Growth Rate (CAGR) of 23.9% from 2022 to 2027. Stringent compliances and regulations; the need to secure sensitive data on the cloud, and growing data breach incidents is driving the growth of data-centric security market across the globe.

Based on component, the software and solutions segment to hold the largest market share during the forecast period

The data-centric security market by component is bifurcated into software & solutions and services. The need for securing highly confidential and sensitive data and an emphasis on stringent regulatory norms are fueling the adoption of data-centric security solutions. Some of the prominent solution vendors in the data-centric security market are Informatica, IBM, Broadcom, Micro Focus, Varonis Systems, among others. Key players in the data-centric security market continuously invest in new product launches/ enhancements and inorganic growth strategies to expand their footprint and improve their data-centric security portfolio in the market to attract more end-users.

By deployment mode, the on-premises segment to hold the largest market size during the forecast period

Based on the deployment type, the data-centric security market has been divided into on-premises and cloud deployment types. The on-premises deployment type allows organizations to control all the systems and data. On-premises deployment is currently leading the market. On-premises databases are considered more secure because organizations have complete access to a database and its security. The government and defense and BFSI verticals mostly prefer on-premises security because they cannot afford to lose their sensitive data, financial records, accounting information, and data pertaining to financial transactions.

Based on vertical, the BFSI segment to hold the largest market size during the forecast period

The overall market for the data-centric security technology is categorized into several applications, based on its end-user usages, such as BFSI, government, military & defense, travel & immigration, commercial security, healthcare, IT, telecom, media & entertainment, and others. The BFSI vertical is expected to hold the largest market size among other end-users.

Asia Pacific to register the highest growth rate during the forecast period

Asia Pacific is expected to record the highest CAGR in the data-centric security market during the forecast period. The region is expected to hold a significant share in the market owing to the increasing number of data breaches and stringent government regulations. Asia Pacific countries such as Australia, China, and Japan have widely adopted encryption technologies to protect data from being stolen. Governments in the Asia Pacific are increasingly tightening the requirements around data storage. Data center demand in the Asia Pacific is being driven by data security and sovereignty concerns.

Market Dynamics

Drivers

Rise in Demand for Data-Centric Security Solutions
Stringent Regulations Driving the Adoption of Data-Centric Security Solutions
Increasing Risk on Enterprise Data Driving Adoption of Data-Centric Security Solutions

Restraints

Organization's Tolerance for Security Breaches due to Internal Vulnerabilities

Opportunities

Rise in Data Breaches to Provide Opportunities to Data-Centric Security Vendors
Widespread Adoption of Industrial Revolution

Challenges

Budgetary Concerns of Enterprises
Lack of Awareness of Data-Centric Security Solutions

Premium Insights

Growing Instances of Data Breaches, Adoption of Industrial Revolution, and Stringent Regulations to Drive Data-Centric Security Market Growth
Software & Solutions Segment to Hold Larger Market Size During Forecast Period
Europe to Hold Largest Market Size During Forecast Period
BFSI Vertical to Hold Largest Market Size During Forecast Period
Asia-Pacific to Emerge as Best Market for Investments in Next Five Years

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends

6 Data Centric Security Market, by Component

7 Data Centric Security Market, by Deployment Mode

8 Data Centric Security Market, by Organization Size

9 Data Centric Security Market, by Vertical

10 Data-Centric Security Market, by Region

11 Competitive Landscape

12 Company Profiles

13 Appendix

Companies Mentioned

Bigid
Broadcom
Concentric.AI
Dathena
Digital Guardian
Egnyte
Fasoo
Forcepoint
Helpsystems
IBM
Imperva
Infogix
Informatica
Lepide
Micro Focus
Netapp
Netwrix
Nextlabs
Nucleus Cyber
Orange Cyberdefense
Pkware
Protegrity
Sealpath
Seclore
Secupi
Securiti
Talend
Varonis Systems

For more information about this report visit https://www.researchandmarkets.com/r/78o8wj

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Research and Markets
Laura Wood, Senior Manager
[email protected]

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SOURCE Research and Markets