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Data-Centric Security Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends
Data-Centric Security Market Report
As per the report, 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 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%.
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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.
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.
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
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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.
Contents of the report:
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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