Dublin, Dec. 07, 2023 (GLOBE NEWSWIRE) -- The "Data Centric Security Market - Global Industry Size, Share, Trends Opportunity, and Forecast 2018-2028" report has been added to ResearchAndMarkets.com's offering.
Global Data Centric Security Market has experienced tremendous growth in recent years and is poised to continue its strong expansion. The Data Centric Security Market reached a value of USD 4.68 billion in 2022 and is projected to maintain a compound annual growth rate of 23.66% through 2028.
The Global Data Centric Security market has seen tremendous growth in recent years as organizations increasingly leverage technologies like AI, IoT and wearables to gain insights and automate processes. Powered by advancements in data processing and analytics capabilities, businesses are finding new ways to optimize security operations, engage talent, and enhance customer experiences while ensuring data privacy and regulatory compliance.
One major area of adoption is in talent management and workforce security. Platforms utilizing data analytics and AI in devices can now provide unprecedented visibility into employee behaviors and detect anomalies in real-time. Tools like wearables equipped with data analytics capabilities allow companies to continuously monitor employees and flag any non-compliant activities or data breaches. These user behavior analytics helps address challenges such as fraud prevention, insider threats and regulatory compliance. Financial institutions and governments have been early adopters of these technologies.
As remote and hybrid work models become prevalent, data-driven oversight of global operations is more crucial. Leading companies are leveraging analytics from distributed endpoint data and AI-powered tools to streamline collaboration between teams while maintaining data security. This enables more effective engagement of remote employees and ensures protection of customer data.
Data analytics providers continue investing heavily in predictive modeling, data integration, and user-friendly solutions. This will allow even greater value from tools going forward in applications such as predictive threat detection, optimized access control, and personalized digital services for customers with built-in security and privacy controls.
The workforce security and customer experience markets remain strong growth opportunities for data analytics vendors as tools integrate more advanced capabilities. This fuels personalized insights and automated processes addressing evolving security, privacy and compliance needs in an increasingly digital world. The global data centric security market outlook remains positive.
Key Market Drivers
Key Market Drivers:
- Rise of Remote Work Culture: The COVID-19 pandemic accelerated the remote work culture, leading to increased demand for data centric security solutions to secure sensitive data access and monitor employee activities in hybrid work environments.
- Increasing Reliance on Cloud and Mobile Technologies: The widespread adoption of cloud computing and mobile technologies has created new vulnerabilities, driving the need for data centric security solutions to secure access to data across various devices and cloud environments.
- Stringent Data Privacy and Compliance Regulations: Stringent data privacy and security compliance regulations like GDPR and CCPA have led organizations to invest in data centric security solutions to ensure privacy and regulatory adherence.
Key Market Challenges:
- Integrating Legacy Infrastructure: Integrating data centric security solutions with existing legacy on-premise infrastructure can be challenging and requires significant investments, impacting adoption timelines and ROI.
- Rise of Shadow IT and Unmanaged Devices: The proliferation of shadow IT and employee-owned unmanaged devices used for work purposes poses security challenges, making it difficult to monitor and protect sensitive data accessed through such devices.
Key Market Trends:
- Growing Focus on Zero Trust Security: There is a trend of shifting to a zero trust approach in data security, which eliminates implicit trust and requires verification for every access attempt. Data centric security solutions are evolving to support zero trust frameworks.
- Rise of Data-Centric AI and Analytics: Data centric security solutions are incorporating AI, machine learning, and analytics to enhance threat detection, risk assessment, and response capabilities.
- Increasing Focus on Data Privacy and Sovereignty: Organizations are integrating strong privacy controls into data security solutions to comply with privacy regulations and address data sovereignty concerns.
Segmental Insights:
- Deployment Type: Cloud-based deployment dominates the market due to advantages like scalability, low upfront costs, and remote management capabilities.
- Component: Software is the dominant component, offering core functionalities like data discovery, access control, encryption, and threat detection.
- Region: North America leads the market with a strong presence of vendors, stringent regulations, and a focus on digital transformation and security investments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 178 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $4.68 Billion |
| Forecasted Market Value (USD) by 2028 | $17.57 Billion |
| Compound Annual Growth Rate | 23.6% |
| Regions Covered | Global |
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Data Centric Security Market.
- Imperva
- ORACLE CORPORATION
- IBM Corporation
- Varonis Systems, Inc
- Micro Focus International plc
- NetApp, Inc
- Seclore Technology Inc.
- Varadharajan Srinivasan (Anthropic)
- Informatica
- Nvidia Corporation
Report Scope:
Data Centric Security Market, By Deployment Type:
- On-Premises
- Cloud-Based
Data Centric Security Market, By Component:
- Software
- Hardware
- Services
Data Centric Security Market, By End-User Industry:
- Retail
- IT and Telecom
- Healthcare
- Banking, Financial Services, and Insurance (BFSI)
- Manufacturing and Industrial
Data Centric Security Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
- Turkey
- Egypt
For more information about this report visit https://www.researchandmarkets.com/r/illlvv
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