Chicago, April 18, 2023 (GLOBE NEWSWIRE) -- The global Data-centric Security Market size is projected to grow from an estimated value of $4.2 billion in 2022 to $12.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 23.9% from 2022 to 2027, according to a new report by MarketsandMarkets™.
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362 - Tables
41 - Figures
269 - Pages
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Scope of the Report
| Report Metrics | Details |
| Revenue Forecast Size value in 2027 | $12.3 billion |
| Market Size Value in 2022 | $4.2 billion |
| Growth Rate | 23.9% CAGR |
| Key Market Growth Drivers | Increasing demand for data-centric security solutions for cloud-based data security |
| Key Market Opportunities | Increase in data breaches provide more opportunities to data-centric security vendors |
| Market size available for years | 2016–2027 |
| Base year considered | 2021 |
| Forecast period | 2022–2027 |
| Forecast units | Value (USD Billion/Million) |
| Segments covered | Component, Software and Solutions, Deployment Mode, Organization Size, Vertical, and Region |
| Geographies covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Major companies covered | Informatica (US), IBM (US), Broadcom (US), Micro Focus (US), Varonis Systems (US), Talend (US), Orange Cyberdefense (France), Forcepoint (US), Imperva (US), NetApp (US), Infogix (US), PKWARE (US), Seclore (US), Fasoo (South Korea), Protegrity (US), Egnyte (US), Netwrix (US), Digital Guardian (US), HelpSystems (US), BigID (US), Securiti (US), SecuPi (US), Concentric.AI (US), Lepide (US), NextLabs (US), SealPath (Spain), Nucleus Cyber (US), and Dathena (Singapore). |
Based on components, the data centric security market is segmented into software & solutions and professional services. The software & solutions segment by component is projected to have the larger market size. With the voluminous explosion of sensitive data in the cloud and mobile environments, data lakes, and other big data repositories, adopting data security has become the top priority for both the governments and businesses worldwide. Data centric security software and solutions audit and protect the data at rest, data in transit, and data in use through various standards and protocols. Therefore, to reduce the risk posed by hackers, insider threats, and other malicious attacks, and constantly monitor the activity of sensitive data, enterprises must utilize software and solutions. The solutions protect mission-critical data in disparate silos, such as databases, files, and the cloud.
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The Software & Solutions include data discovery and classification, data protection, data governance and compliance, and others. By Software & Solutions, the data discovery and classification segment is expected to hold the largest market share during the forecast period. The pace at which the data is gathered and stored has increased rapidly. However, most of this data lies dormant, and only 0.5% of it has been analyzed, which means that big data analytics can retain a high potential to deliver a wide range of benefits to specific industries. Data discovery and classification is a critical phase of data centric security. In this phase, sensitive data is discovered and classified from the set of scattered data sets on multiple enterprise locations. Data discovery and classification tools help end users gain visibility into the location, volume, context, and risk associated with sensitive unstructured data. With data discovery and classification, proper security and control measures can be applied, to protect organizations from internal and external threats.
Data centric infrastructure makes it easy to share and transit the data. It supports federated queries across multiple repositories. It delivers high quality, availability, and reliability. It ensures the organization can access the data in need and in real time. In addition, a data-centric infrastructure helps organizations to share and deliver their data when and where it is needed. It provides the necessary performance, capacity, scalability, and security. The infrastructure can develop to meet changing workload requirements and adopt modern technologies. With an increase in cybercrimes, every data breach attack leads to a decrease in customer trust, hampering a company's revenues in this competitive market. Customers are more aware of data privacy, so organizations always look for a secure solution to safeguard customers' data.
Frequently Asked Questions (FAQ)
What is the projected market value of the global Data Centric Security Market?
The data-centric security market size is projected to grow from $4.2 Billion in 2022 to $12.3 Billion by 2027.
What is the estimated growth rate (CAGR) of the global Data Centric Security Market for the next five years?
Data Centric Security Market is growing at a Compound Annual Growth Rate (CAGR) of 23.9% from 2022 to 2027.
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