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Rising Data Breaches Fuel Growth In The Data-Centric Security Market: Key Factor Driving The Growth In The Data-Centric Security Market
Data-Centric Security
What Is the Expected Data-Centric Security Market Size During the Forecast Period?
The market size of data-centric security has seen a sharp increase in recent years. The market is predicted to expand from $8.19 billion in 2024 to $10.38 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 26.8%. Various factors such as data leakages, regulatory compliance, widespread use of mobile devices, and issues related to data privacy have contributed to this growth in the past.
Anticipated to experience significant growth in the coming years, the market for data-centric security is projected to surge to $28.45 billion by 2029, boasting a compound annual growth rate (CAGR) of 28.7%. The predicted growth within this period can be credited to factors such as the implementation of zero trust architectures, increased focus on endpoint security, the worldwide pervasiveness of cybersecurity threats, the progression of privacy regulations, an emphasis on automated responses, and worries related to data sharing. Some of the key trends forecasted for this period involve data categorization and discovery, security solutions native to the cloud, data loss prevention (DLP) measures, the use of behavioral analytics in threat detection, continuous surveillance and auditing, and deploying machine learning and AI for threat intelligence.
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What Are the High-Growth Segments in the Data-Centric Security Market?
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
Subsegments:
1) By Software And Solutions: Data Encryption Solutions, Tokenization Solutions, Access Control Software
2) By Data Discovery: Data Classification Tools, Data Mapping Tools
3) By Data Protection: Data Loss Prevention (DLP) Solutions, Backup And Recovery Solutions
4) By Data Governance: Compliance Management Tools, Policy Management Solutions
5) By Professional Services: Consulting Services, Implementation Services, Training And Support Services
6) By Other Components: Threat Intelligence Tools, Incident Response Solutions
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What Key Drivers Are Expected to Influence Future Data-Centric Security Market Growth?
The rise in instances of data breach is anticipated to spur the expansion of the data-centric security market in the forthcoming years. These incidents involve unauthorized individuals gaining access to confidential data or unauthorized copies of proprietary data being made. At present, data-centric security is implemented to avert data loss from organizational infrastructures. To illustrate, data from the Identity Theft Resource Center (ITRC), a non-profit organization based in the US, indicates that in January 2024 there were 3,205 instances of data breaches, leaks, exposures, and other unmentioned events in 2023. These breaches affected around 353,027,892 individuals, including those who were victimized by several different incidents. There's a noted growth of 78% compared to the prior year and a significant surge of 72% from the record of 1,860 breaches in 2021. Thus, the escalating frequency of data breaches underlines the likely progression of the data-centric security market.
Which Companies Hold the Largest Share Across Different Data-Centric Security Market Segments?
Major companies operating in the data-centric security market 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, Digital Guardian Inc., Fasoo, GTB Technologies Inc., Seclore Inc., Thales eSecurity Inc., Zettaset Inc., Privacera Inc., Collibra Inc.
What Trends Are Driving Growth in The Data-Centric Security Market?
The rise in progressive technologies is a major trend in the data-centric security market. Industry-leading companies are developing inventive solutions to enhance data safety in multiple sectors. For instance, in June 2022, US tech firm, Seclore, launched a novel platform for data security. The platform enables enterprises to uncover, categorize, safeguard, and monitor company data both inside and outside the organization. Furthermore, a new collaboration was announced in February 2021 between IBM, a multinational technology corporation from America, and Palantir Technologies, an American firm specializing in big data analysis. The partnership revolves around IBM's hybrid cloud data platform, designed to yield AI for companies, combined with Palantir's advanced operations platform for application development. The outcome is intended to simplify the process of creating and launching AI-integrated applications using IBM Watson. This innovation will also enable users with no technical know-how to access, analyze, and act upon vast quantities of data distributed over hybrid cloud settings.
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What Are the Emerging Geographies for The Data-Centric Security Market Growth?
North America was the largest region in the data-centric security market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Data-Centric Security Market?
2. What is the CAGR expected in the Data-Centric Security Market?
3. What Are the Key Innovations Transforming the Data-Centric Security Industry?
4. Which Region Is Leading the Data-Centric Security Market?
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