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Data Masking Technology Market Makes Highest Revenue from BFSI Sector
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Data masking technology market makes highest revenue from BFSI sector. IT and telecommunication industries are investing heavily in this technology, as they face major challenges related to internal hacking and data privacy issues. Data masking technology market in healthcare is expected to show a robust growth, during the forecast period, as hospitals are adopting latest technology to protect data from outside threats, when hackers try to steal health related data for monetary gains. It is also gaining significance in the automotive industry, on account of protecting design and specification of vehicles from internal and external threats.
Dynamic masking is gaining adoption in an enterprise, as it offers advanced method of data protection in an environment where unauthenticated users can easily access. It is one of the cost-effective technologies to protect business application and databases from data breach threats. Dynamic masking uses two major approaches: view based masking and proxy based masking, and changes the flow of data without changing its physical presence. Dynamic data masking also helps to analyse big data without affecting the regular business operations. Large, medium and small enterprises also prefer this technology for testing and analysis purposes, as it offers unique value to preserve complex data with minimal disruption.
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The global data masking technology market is fragmented, owing to the presence of large number of global and regional players, which intensifies the degree of rivalry. The market is growing at a notable pace, leading to moderate intensity of rivalry. Key market players such as IBM Corporation, Informatica Corporation, and Camouflage Software seek to gain market share through continuous innovations in data masking technology. Some of the other key players operating in market are Delphix Corporation, Compuware Corporation, Net 2000, Oracle Corporation, Hewlett Packard Enterprise, IRI, and Mentis Software. Oracle corporation recently introduced data masking technique, which uses a comprehensive approach called find, access, secure, and test (FAST), to gain an edge over its competitors.
Key competitors are specifically focusing on North-America and Europe for expansion of data masking technology market, as these regions show a strong tendency to adopt the data masking technology in coming years.
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