North America Data-Centric Security Market Worth US$ 6,443.72 million by 2028 - COVID-19 Impact and Global Analysis by Business Market Insights

The data-centric security market in North America is expected to grow from US$ 1,739.74 million in 2022 to US$ 6,443.72 million by 2028. It is estimated to grow at a CAGR of 24.4% from 2022 to 2028.

The latest North America Data-Centric Security Market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the most noticeable players in this market. The study offers a thorough analysis of the key persuading factors, market figures in terms of revenues, segmental data, regional data, and country-wise data. This study can be described as most wide-ranging documentation that comprises all the aspects of the evolving Smart home market.

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Key players dominating the North America data-centric security market are Broadcom Corporation, Forcepoint, IBM Corporation, Imperva, Informatica Corporation, Micro Focus, NetApp, Talend, and Varonis among others.

Below are listed a few key market developments by top players:
• In 2022, Informatica Corporation announced a partnership with Oracle. Through this endeavour, Oracle and Informatica have combined the Oracle autonomous database, Oracle Exadata Database Service, and Oracle Object Storage with Informatica's Intelligent Data Management Cloud. This new alliance will enable streamlined OCI migrations and improved data governance capabilities on OCI and IDMC.
• In 2022, HCL Technologies partnered with IBM Security. Through the use of a modernised security operation centre (SOC) platform, this collaboration intends to unify and streamline the threat management process for clients. The goal of HCL's Cybersecurity Fusion Centers is to provide a unified security platform that connects security teams, tools, and procedures throughout the threat lifecycle by utilising IBM's Cloud Pak for Security.

Data protection rules and regulations changed over the decade owing to the incorporation of smart technologies and new working models among the companies. Several news reforms and infrastructure are demanding modern techniques of data protection. For instance, regulations such as the California Consumer Privacy Act (CCPA) and the EU General Data Protection Regulation (GDPR) require organizations to take a more data-centric approach to security. Organizations must not only focus on protecting data at different layers of technology but also take care to protect data throughout its lifecycle, from initial ingestion to final disposal.

The COVID-19 outbreak accelerated the shift from office environments to remote work scenarios (work from home), emphasizing data-centric security more. In 2020, organizations had to navigate a wave of IT architectural change and move to a remote work environment. The employee's sudden and unexpected move to home offices has accelerated enterprises' need to move to the cloud to keep their business running. Integrating meeting solutions, cloud servers, and security quickly became commonplace. Based on the survey conducted by Barracuda, 53% of respondents said the COVID-19 crisis prompted them to accelerate their plans to move all their data to a 100% cloud-based model. Hence, the plan to move all data to a 100% cloud-based model increased the emphasis on data-centric security in the cloud, as companies are highly concerned about sharing crucial data with unauthorized internal users.

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The research report provides deep insights into the market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of North America Data-Centric Security Market during the forecast period, i.e., 2022-2028. Most importantly, the report further identifies the qualitative impact of various market factors on market segments and geographies. The research segments the market on the basis of product type, application, technology, and region. To offer more clarity regarding the industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and production capability across different countries.

The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2022-2028? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the North America Data-Centric Security Market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Smart home market?
4. What are the prominent market trends influencing the development of the North America Data-Centric Security Market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Smart home market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Smart home market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the North America Data-Centric Security Market segments and regions.

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