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Data-Centric Security Market 2022| Leading Growth Drivers, Emerging Audience, Segments, Sales, Trends and Analysis to 2028
The Insight Partners Published latest research study on "Data-Centric Security Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Service), Deployment Mode (On Premise and Cloud based), Organization Size (Small and Medium Enterprises (SMEs) and Large Enterprises), and Verticals (IT and Telecommunication, BFSI, Government and Defense, Healthcare and Pharmaceutical, and Others) The Data-Centric Security market size is projected to reach US$ 16,518.1 million by 2028 from US$ 4,510.6 million in 2022. The Data-Centric Security Market share is expected to grow at a CAGR of 24.2% from 2022 to 2028.Data-centric security includes all technologies that focus on protecting the actual data an organization is entrusted with throughout its data lifecycle, rather than focusing primarily on infrastructure risks, approach, and policy. A data-centric security framework consists of multiple solution layers designed to understand, manage, and protect sensitive data, whether on-premises or in the cloud. Data-centric security model takes data security beyond the traditional infrastructure-focused data security measures that most organizations already have. In recent years, there has been an increasing reliance on digital and cloud computing trends and enterprises to cloud networks for various applications, from data storage and payments to enterprise-wide execution from cloud paths. The business operations are becoming more and more dependent. Hence, the growing reliance on the cloud in the business world led many small businesses to secure data stored/exchanged in the cloud. As a result, investment in data-centric security solutions and services is anticipated to increase in the coming years. Additionally, the rise of cyberattacks made data-centric security solutions essential for organizations to protect their mission-critical data. The global data-centric security market is growing as end-user concerns about data security grow.
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Market Insights - Data-Centric Security Market
Increase in Data and Bring Your Own Device (BYOD) Policies will provide Lucrative Growth Opportunities to Data-Centric Security Market
Most big data experts agree that the generated data will grow exponentially during the forecast period. Based on research from Seagate's Data Age 2025 report, the world's data sphere will reach 175 zettabytes by 2025. This growth is attributed to the enormous increase in people working, studying, and amusing themselves from home. Hence, securing these data will be the companies' primary objective, as data-driven business models will be widely adopted in the future. Hence, such a transition is anticipated to create lucrative opportunities for the data-centric-security vendors over the forecast period.
Furthermore, the IT infrastructure is anticipated to become more complicated and heterogeneous due to the introduction of new platforms, bring your own device (BYOD) regulations, choose your own device (CYOD) trends, business apps, and other technologies. The BYOD and CYOD trends are becoming more and more common in business settings due to the quick improvements in mobile computing. Through mobile devices, employees may access organizational data from anywhere, at any time, thanks to these developments, which also boost employee productivity to protect organizational data from potential hazards and maintain its confidentiality and integrity. Based on the Bitglass survey, 69% of respondents said their organizations allow employees to use personal devices for work while allowing contractors, partners, customers, and suppliers. However, several companies fail to maintain security due to the unsuccessful incorporation of new devices into the existing security infrastructure. Based on the report by Software Guild, 72% of organizations have no plans to secure BYOD devices. Hence, such factors will likely create mammoth opportunities for the data-centric- security market players.
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Players operating in the Data-Centric Security market mainly develop advanced and efficient products.
In 2022, NetApp announced the up-gradation of the NetApp ONTAP data management software. Additionally, NetApp unveiled the most recent NetApp SolidFire Enterprise SDS solution and a flexible NetApp Keystone Flex Subscription service.
NetApp helps businesses worldwide use the greatest aspects of the cloud through these improvements. Businesses can employ hybrid cloud infrastructure as a service to improve performance and safety, reduce costs, and expand data management from on-premises to the cloud.
In 2021, IBM and Palantir Technologies partnered to deliver AI for businesses. With Palantir's next-generation operations platform for developing applications, the companies have joined to provide AI for enterprises. The device is anticipated to make it easier for companies to develop and deploy IBM Watson-enhanced apps while also assisting users in accessing, analyzing, and acting on the enormous volumes of data dispersed across hybrid cloud settings.
Data-Centric Security Market-Company Profiles
• IBM Corporation
• Broadcom Inc.
• Informatica
• Micro Focus International plc
• NetApp, Inc.
• Imperva
• Forcepoint
• Orange Cyberdefense
• Talend
• Varonis Systems
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Phone: +1-646-491-9876
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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