Pune, Sept. 14, 2023 (GLOBE NEWSWIRE) -- “The SNS Insider report predicts that the Database Security Market is expected to experience a compound annual growth rate (CAGR) of 12.48% between 2023 and 2030, with its value projected to increase from approximately USD 7.25 billion in 2022 to USD 18.57 billion in 2030.”
Market Overview
Database security is the practice of implementing measures and safeguards to protect the integrity, confidentiality, and availability of data stored within a database system. This includes both the data itself and the database management system (DBMS) that handles it. Database security is a critical aspect of information security, as databases often contain sensitive and valuable information that organizations need to protect from unauthorized access, tampering, and data breaches.
Market Analysis
The database security market is experiencing significant growth due to a variety of factors. Governments and regulatory bodies around the world are implementing strict data protection regulations such as GDPR, CCPA, and HIPAA. Compliance with these regulations requires organizations to secure their databases and protect the personal and sensitive information they store. As consumers become more privacy-conscious, organizations face growing pressure to ensure the confidentiality and integrity of customer data. Database security is essential for maintaining trust and meeting customer expectations regarding data privacy. The volume of data generated and stored by organizations continues to grow exponentially. This vast amount of data represents a valuable target for cybercriminals, making robust database security solutions more crucial than ever.
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Major Players included in this Report are:
The major market players are AWS, Alibaba Cloud, Trustwave, McAfee, Oracle, Fortinet, Microsoft, IRI, Zimcom, Micro Focus, Cloudera, Imperva, IBM, Trend Micro, Huawei, Tencent, Mak Logic, Datasparc, Thales Group, Protegrity, Hashicorp, Scalegrid, Optiv Security, OneNeck, Netwrix, and other players
Database Security Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 7.25 Bn |
| Market Size by 2030 | US$ 18.57 Bn |
| CAGR | CAGR of 12.48% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Key Takeaway from Database Security Market Study
- In recent years, the banking sector has emerged as a dominant force in the ever-evolving landscape of database security. This sector's increasing prominence can be attributed to several key factors that underscore the critical need for robust database security solutions.
- The finance segment's dominance in the market is characterized by its insatiable appetite for innovation, its global reach, and the stringent regulatory environment it operates. As financial services continue to evolve, so too will the landscape of database security, with this segment leading the way in shaping the future of data protection in the finance industry.
Recent Developments
- Fortanix, a leading innovator in data security solutions, has forged an exciting partnership with the Saudi Information Technology Company (SITE) to bring forth a groundbreaking Multicloud SaaS Data Security Solution. The Multicloud SaaS Data Security Solution aims to prioritize ease of implementation, allowing organizations to integrate robust security measures without disrupting their existing workflows.
- IBM's recent acquisition of Polar Security marks a significant step forward in the realm of cloud data protection and automation. Polar Security, a cutting-edge cybersecurity company, specializes in automating data protection in cloud environments. This acquisition is poised to bring about innovative solutions that address the ever-evolving challenges of safeguarding sensitive data in the cloud.
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Market Dynamics Analysis
“Account of Increasing Data Volumes and Rising Cybersecurity Concerns”
The database security market is characterized by a dynamic landscape driven by a confluence of factors, with several key dynamics shaping its trajectory. One of the primary drivers propelling the market's growth is the relentless expansion of digital data volumes across industries. With organizations accumulating vast troves of sensitive information, the imperative to safeguard this data from cyber threats and breaches has never been more critical. This has led to increased investments in advanced database security solutions as companies seek to fortify their data fortresses. However, the market is not without its restraints and challenges. A key restraint is the complexity of integrating robust security measures within existing database infrastructures, often requiring significant time and resources. Moreover, compliance regulations are continually evolving, posing a challenge for businesses to stay abreast of these changes and ensure their databases remain compliant. In addition to these drivers and challenges, the market faces a constant threat from cybercriminals who are becoming increasingly adept at exploiting vulnerabilities. The rise of insider threats, data leaks, and sophisticated hacking techniques poses a substantial threat to organizations' data integrity and security.
Database Security Market Segmentation Analysis Covered:
By Component
- Software
- Services
By Deployment Mode
- Cloud-Based
- On-Premises
By Organization Size
- Small and Medium-Sized Enterprises
- Large Enterprises
By Business Function
- Marketing
- Sales
- Finance
- Operations
- Others
By Vertical
- Banking, Financial Services, And Insurance
- Telecommunication and IT
- Government and Defense
- Manufacturing
- Healthcare and life sciences
- Retail and E-commerce
- Energy and Utilities
- Media and Entertainment
- Others
Key Regional Developments
North America remains a global leader in the database security market. The United States, in particular, is home to numerous tech giants and multinational corporations that prioritize data security. The region's regulatory landscape, including the California Consumer Privacy Act (CCPA) and Health Insurance Portability and Accountability Act (HIPAA), has been a major driver for the adoption of robust database security solutions. With the General Data Protection Regulation (GDPR) in effect, Europe has one of the strictest regulatory frameworks for data protection. This has driven substantial investment in database security solutions across the EU member states. The Gulf Cooperation Council (GCC) countries are investing in database security due to their expanding digital infrastructure. The Middle East and Africa region is prioritizing compliance with data protection regulations and investing in cybersecurity to protect critical infrastructure.
Impact of Recession on Database Security Market Growth
The impact of an ongoing recession on the database security market is multifaceted. While budget constraints and shifting priorities may initially slow down market growth, increased cyber threats and regulatory pressures can sustain demand. Vendors that adapt to the changing economic landscape by offering cost-effective, innovative solutions and services may find opportunities for growth even during challenging times. The recession may accelerate the adoption of cloud-based database security solutions. Cloud services can offer cost savings, scalability, and flexibility, which may be particularly appealing to organizations looking to optimize their IT budgets during tough economic times.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Database Security Market Segmentation, By Component
9. Database Security Market Segmentation, By Deployment Mode
10. Database Security Market Segmentation, By Organization Size
11. Database Security Market Segmentation, By Business Function
12. Database Security Market Segmentation, By Vertical
13. Regional Analysis
14. Company Profile
15. Competitive Landscape
16. USE Cases and Best Practices
17. Conclusion
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