The market has seen significant growth over the past few years and is predicted to grow significantly during the forecasted period as well. Data-centric security focuses on the technologies & protocols that rely on the core of data itself & how it's created, stored, & seen, which is unlike traditional methods that mainly concentrate on securing networks, servers, & applications. Different from the older strategies, data-centric security puts high importance on safeguarding data throughout its entire journey.
Furthermore, unlike older methods that might not operate well in today's complex business environments, data-centric security is developed to handle current challenges. It shifts the target to protecting data, no matter who's trying to access it or where they're accessing it from. This unique approach lets organizations keep their data safe even in rapidly changing business situations, effectively guarding against potential threats & vulnerabilities.
As data continues to rapidly accumulate in cloud environments, its free flow across them has become essential to meeting the demands of an increasingly mobile workforce. IBM, Microsoft and Google led this market in 2020 by employing cutting edge AI and machine learning (ML) algorithms for data analysis.
Furthermore, businesses of all sizes are seeing an increase in demand for protecting cloud stored information through data centric security solutions such as Informatica's Intelligent Cloud ServicesSM which provide comprehensive protection including failover data centers, user authentication controls and encryption on operating system, database and application levels Informatica provides comprehensive protection with failover data centers, user authentication controls at OS level for data analysis of cloud stored information stored online.
As more devices, security protocols, and access patterns change with remote work trends, data breaches have increased exponentially. Many companies have responded by developing innovative data centric security solutions for instance Cloudera introduced an upgraded version of its cloud data security solution post COVID to enhance data protection for its clients. Notably in 2020 80% of cyberattacks originated from data leakages or brute force attacks which further emphasizes the necessity for robust cloud data security solutions which mitigate vulnerabilities and protect sensitive information.
Key Takeaways
- Market Size & Share: Data Centric Security Market is expected to reach a value of USD 5.7 billion in 2023, and it is further anticipated to reach a market value of USD 42.4 billion by 2032 at a CAGR of 25.1%.
- Cloud Security Demand: The rise in data breaches and cyberattacks has intensified the demand for robust cloud-based security solutions, focusing on encryption, access controls, and user authentication.
- Technological Advancements: Leading players like IBM, Microsoft, and Google are integrating AI and ML technologies to enhance data protection and threat detection capabilities.
- Post-COVID Adoption: The pandemic accelerated the implementation of data-centric security, with companies like Cloudera introducing advanced solutions to combat risks from evolving work models and security challenges.
- Key Challenge: Addressing vulnerabilities stemming from increased data mobility and ensuring compliance with stringent data privacy regulations remain critical challenges for market players.
- Regional Analysis: In 2023, North America leads the data-centric security market with a significant 36.3% share of the overall global market.
Market Dynamic
Data-centric security is essential for dynamic data protection, providing businesses with greater flexibility in network & system management in comparison to standard access controls. Implementing the principle of least privileged access allows organizations to allow users access solely to their pertinent files, preventing unrestricted entry to all server data.
This framework proves beneficial in scenarios where users should be barred from accessing distinct functional data within a department. This technology safeguards data on storage drives, during application usage, & while being transmitted over networks. Such advantages have prompted diverse industries to adopt data-centric solutions, driving the demand across sectors.
However, it is important for organizations to recognize the significance of reducing the vulnerabilities & risks linked to the adoption of data-centric security solutions. This consideration has the potential to challenge market expansion. Furthermore, the significant expenses associated with the implementation & deployment also restrain the market growth.
Driving Factors
Businesses generate increasing volumes of sensitive data that, combined with cyber threats, is driving demand for data centric security products and solutions. Organizations are prioritizing strategies that focus on protecting data at its source rather than solely relying on perimeter approaches; regulatory frameworks like GDPR, CCPA, and HIPAA mandate stringent data protection compliance which further drives market demand; advances like remote work environments and cloud adoption have further highlighted this demand as have remote work, APT attacks and advanced persistent threats (APT).
All these factors demand comprehensive solutions that ensure secure data handling, classification, encryption and access controls across hybrid IT environments solutions which also ensure secure handling, classification encryption as well as access controls across hybrid IT environments.
Trending Factors
An emerging trend in data centric security market is the adoption of
Artificial Intelligence (AI) and
Machine Learning (ML) for automated threat detection and response. These technologies enhance data classification and risk evaluation while providing real time insights into potential breaches. Zero trust architectures are also becoming more popular, emphasizing secure access based on identity verification.
Furthermore, data centric security is being integrated with cloud native platforms to provide protection across multi cloud environments meeting rising requirements for scaleability, agility, and resilience while protecting distributed ecosystems.
Restraining Factors
High implementation costs and complex integration processes pose as significant obstacles for the data centric security market. Many organizations, particularly small and medium sized enterprises (SMEs), struggle with budgetary restrictions or lacking expertise to deploy advanced security solutions.
Legacy system compatibility issues further impede its adoption; plus data movement across on premises, cloud and hybrid environments makes ensuring consistent protection and compliance more challenging, often leading to delays or inefficiency when deploying comprehensive security measures.
Opportunities
Rising adoption of cloud computing, IoT and big data analytics offers ample growth prospects for the data centric security market. As enterprises increase their reliance on digital transformation initiatives, enterprises needing to safeguard sensitive information becomes even greater.
Emerging markets across Asia Pacific, Latin America and Africa provide vast untapped potential due to rapid infrastructure expansion as well as increasing awareness of data privacy regulations. Innovations such as homomorphic encryption and secure multi party computation stand to advance market developments while offering robust protection without impacting usability or accessibility of sensitive information.
Research Scope and Analysis
By Component
As the world is moving towards global digitization, the solutions for the global data-centric security market are in trend and are anticipated to grow more over the coming future. As a software solution, data-centric security prioritizes the protection of sensitive information at its core, going way ahead of traditional perimeter defenses.
It uses encryption, access management & data categorization techniques to enable strong security regardless of data location or device interactions. This approach effectively decreases the risks related to data breaches, unauthorized access, & cyber threats, providing essential support for businesses seeking to enhance & secure their critical data assets.
By Deployment
The growth of the global data-centric security market in 2023 is being driven by the adoption of on-premise deployment of the tools. Organizations in heavily regulated sectors or with stringent governance policies often mainly focus on maintaining full control over their data assets.
Through on-premise data-centric security solutions, these organizations can uphold their data within their physical infrastructure, allowing complete authority over data storage, access, & security measures. This factor is anticipated to be a key driver in boosting the demand for on-premise data-centric security solutions throughout the forecast period.
By Organization Size
In 2023, major contributors to the global data-centric security market are
large enterprises, as they also play a major role in the growth and expansion of the market. The increase in cyberattacks targeting these enterprises, drawn by their large data storage capabilities & resource access, has increased the need for data-centric security solutions.
The growing cyber-attacks & severity of cyber threats have emphasized the importance of advanced cybersecurity strategies, with data-centric security solutions emerging as a major response. These solutions empower organizations by improving their visibility, allowing strong monitoring, robust execution of data protection protocols, & quick identification & containment of security breaches.
By End User Industry
Dominating the market share in 2023, the BFSI segment holds a significant position in the global data centric security market. As within this sector contains a repository of critical & sensitive information, including personal data, financial particulars, & proprietary insights, which makes the BFSI domain a prime target for cyber-attacks.
As
cyber threats evolve in complexity & occurrence, there is a growing need for a strong data security strategy, thus expanding the request for data-centric security measures which are anticipated to drive the market in the coming future as well.
The Global Data Centric Security Market Report is segmented on the basis of the following:
By Component
By Deployment
By Organization Size
By End User Industry
- Government
- Healthcare
- BFSI
- Retail
- IT & Telecom
- Others
Regional Analysis
In 2023, North America leads the data-centric security market with a significant
36.3% share of the overall global market, as rising cyber-attacks on government, corporations, & infrastructure projects have created a strong need for data security solutions. The complex cyber threats in North America have highlighted the significance of data-centric security.
In addition, strict government rules such as the California Consumer Privacy Act (CCPA) & General Data Protection Regulation (GDPR) have increased the demand for advanced cyber-security to avoid legal & financial issues, boosting further demand, which is anticipated to persist throughout the forecasted period.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The global data-centric security market notices intense competition among key players looking to provide advanced solutions for safeguarding sensitive information. As cybersecurity threats advance, companies are innovating encryption techniques, access controls, & data monitoring to meet the escalating needs of businesses across many industries. This dynamic landscape reflects an aim to adapt to changing security challenges while offering comprehensive & effective data protection measures.
For instance, in May 2022, Informatica announced its partnership with Oracle. This strategic partnership enables the utilization of Informatica's connectivity and governance technologies within Oracle Cloud Infrastructure. The integration was demonstrated by integrating Informatica's Intelligent Data Management Cloud (IDMC) into critical Oracle platforms, including Oracle Exadata Cloud Customer, Oracle Automated Database, Oracle Exadata Database Service, & Oracle Object Storage.
Some of the prominent players in the Global Data Centric Security Market are:
- IBM Corp.
- Informatica
- Forcepoint
- McAfee
- Microsoft
- NetApp
- Selcore
- Varonis Systems
- Thales eSecurity
- Netwrix
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Data Centric Security Market:
The COVID-19 pandemic increased the usage of digital technologies, making data-centric security more crucial due to growing cyber threats. While some industries delayed spending during the economic downturn, sectors focusing on remote work solutions, data privacy rules, & cloud protection generated opportunities for innovative data-centric security companies to meet the evolving cybersecurity needs. Further, as things return to normal, the market is steadily growing and is anticipated to do so in the coming years as well.
| Report Characteristics |
| Market Size (2023) |
USD 5.7 Bn |
| Forecast Value (2032) |
USD 42.4 Bn |
| CAGR (2023-2032) |
25.1% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Component (Solutions and Services), By Deployment (Cloud and On-Premises), By Size (SMEs and Large Enterprises), By End User Industry (Government, Healthcare, BFSI, Retail, IT & Telecom and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
IBM Corp., Informatica, Forcepoint, McAfee, Microsof6t, NetApp, Selcore, Varonis Systems, Thales eSecurity., Netwrix, and Other Key Players |
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