Press release
Data-Centric Security Global Market Expected to Witness $22.03 Billion with Impressive Growth at a 27.5% CAGR By 2028 | Broadcom Inc., Imperva Inc., NetApp Inc., Google LLC, Informatica
Data-Centric Security Global Market
Data-Centric Security Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $27.21 billion In 2028 At A CAGR Of 5.8% :
The data-centric security market size has grown exponentially in recent years. It will grow from $6.52 billion in 2023 to $8.35 billion in 2024 at a compound annual growth rate (CAGR) of 28.0%. The growth in the historic period can be attributed to data breach incidents, regulatory compliance, mobile device proliferation, data privacy concerns.
The data-centric security market size is expected to see exponential growth in the next few years. It will grow to $22.03 billion in 2028 at a compound annual growth rate (CAGR) of 27.5%. The growth in the forecast period can be attributed to zero trust architecture adoption, focus on endpoint security, globalization of cybersecurity threats, privacy regulations evolution, focus on automated response, increased data sharing concerns. Major trends in the forecast period include data classification and discovery, cloud-native security solutions, data loss prevention (dlp) solutions, behavior analytics for threat detection, continuous monitoring and auditing, machine learning and ai for threat intelligence.
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Data-Centric Security Market Major Segments
The data-centric security market covered in this report is segmented -
1) By Component: Software And Solutions, Data Discovery, Data Protection, Data Governance, Professional Services, Other Components
2) By Deployment Mode: On-Premise, Cloud
3) By Organization Size: Large, Medium, Small
4) By Vertical: Banking, Financial Services And Insurance (BFSI), Government And Defense, Healthcare And Pharmaceuticals, Telecommunications, Information Technology (IT) And Enterprises, Retail, Other Verticals
Key Driver - Rising Data Breaches Fuel Growth In The Data-Centric Security Market
Growing data breach incidents will propel the data-centric security market growth during the forecast period. Data breach incidents refer to a security violation in which a person accesses sensitive information without permission from an organization or when confidential information is copied without permission. Data-centric security is used at the current time to prevent any loss of data from organization infrastructures. For instance, in October 2021, according to Fortune, a US-based business magazine company, the total number of global data breach cases was 1,291 in 2021, an increase from 1,108 in 2020. Ransomware is the major tool cybercriminals use, with the total number of data breaches increasing to 17% in 2021. Therefore, growing data breach incidents will drive the data-centric security market.
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Prominent Trend - Transformative Advancements Shaping The Landscape Of Data-Centric Security
Advancements in innovative technologies are a key trend gaining popularity in the data-centric security market. Major market players are creating innovative technologies to improve data security across various industries. For instance, in June 2022, Seclore, a US-based technology company, launched a data-centric security platform. Its platform helps organizations discover, classify, protect, and track enterprise data within and outside the organization. Also, in February 2021, IBM, an American multinational technology corporation, and Palantir Technologies, an American software company that specializes in big data analytics, announced a new partnership consisting of IBM's hybrid cloud data platform designed to deliver AI for business with Palantir's next generation operations platform for building applications. The product is expected to streamline how businesses build and deploy AI-infused applications with IBM Watson. Furthermore, without the need for technical skills, this will help users access, analyze, and act on the vast amounts of data scattered across hybrid cloud environments.
Data-Centric Security Market Players
Major companies operating in the data-centric security market report are Broadcom Inc., Imperva Inc., Micro Focus International plc, NetApp Inc., Orange Cyberdefense, The International Business Machines Corporation, Microsoft Corporation, Google LLC, Informatica, Varonis Systems, Talend S.A., Forcepoint, Egnyte Inc., Fortra LLC, Virtru Corporation, Netwrix Corporation, Circle Security Inc., Cranium AI Inc., Hadrian Security Inc., CipherCloud Inc., Digital Guardian Inc., Fasoo, GTB Technologies Inc., Ionic Security Inc., Seclore Inc., Thales eSecurity Inc., Vormetric Inc., Zettaset Inc., Privacera Inc., Collibra Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the data-centric security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data-centric security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Data-Centric Security Market Report Structure
3. Data-Centric Security Market Trends And Strategies
4. Data-Centric Security Market - Macro Economic Scenario
5. Data-Centric Security Market Size And Growth
…..
27. Data-Centric Security Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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