Data-Centric Security Market is expected to reach $7.3 billion by 2025 at a CAGR of 23.5% during the forecast period 2020-2025. The demand for data-centric security solutions is expected to be majorly driven by the stringent compliances and regulations pertaining to data-centric security. In addition, data security governance and exploitation of trending technologies such as big data, machine learning, and artificial intelligence are expected to boost the adoption of data-centric security in the forecast period. Moreover, rising investments by companies for innovation in this technology is also analyzed to drive the market in the forecast period 2020-2025.
Data-Centric Security Market Segment Analysis – By Deployment
Cloud deployment is growing at a highest CAGR of 25.5% in the forecast period owing to its operational flexibility and real-time deployment ease to companies than on-premises deployment. It also offers numerous benefits, including reduced operational costs, simple deployment process, and higher scalability in terms of connected resources. Additionally, the cost-effective cloud-based solutions ease installation when compared to the on-premises solutions. The highest level of data security and reliability offered by the cloud deployment are increasing the share of this deployment in the forecast period. Moreover, cloud deployment in data-centric security emphasizes the security of the data itself rather than the security of networks, servers, or applications. In addition, Data-centric security in cloud deployment is evolving rapidly as enterprises increasingly rely on digital information to run their business and big data projects become mainstream. Hence these benefits are analyzed to drive the market growth in the forecast period 2020-2025.
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Data-Centric Security Market Segment Analysis – By Industry Vertical
Data-Centric Approach in Retail Sector is growing at a CAGR of 25.2% in the forecast period. Owing to the need to audit and protect critical consumer data stored in databases, files, and cloud. The increasing use of mobile devices, which have a direct access link to a customer’s confidential information, rise data theft and data loss concerns among retailers. Hence, retailers are adopting comprehensive data-centric security solutions, as data risk is present at all levels, from various transactions to the confidentiality of personal information of customers and employees. In addition several companies have been providing advanced solutions in retail security. For instance, Comforte’s Data-centric security protects every bit of customer data and also provides visibility in building brand reputation. Similarly companies such as IBM, Datiphy, and so on have been providing advanced solutions in the forecast period 2020-2025.
Data-Centric Security Market Segment Analysis – By Geography
North America dominated the market by a market share of more than 34.5% in 2019, owing to Increasing of cyber-attacks, government data protection regulations, and proliferation of the adoption of cloud-based platforms. Furthermore, organizations have invested significantly in technologies pertaining to data-centric security to gain a competitive advantage and improve the business operations. In 2018, RFA and Seclore has announced Strategic Partnership to Deliver Data-Centric Security to Hedge Funds. Similarly, in 2019, U.S. based BlueTalon Data-Centric Security platform has enabled leading enterprises to deploy precise, consistent, and dynamic user access controls across Hadoop, RDBMS and Big Data environments whether on-premises or in the cloud. Hence these advancements are analyzed to drive the market in the forecast period 2020-2025.
Data-Centric Security Market Segment Analysis Drivers
Rapidly Growing IoT to Fuel the Growth of the Dcap Market
Rapid growth of urbanization across the globe is changing the way of using devices and things present in the technological environment. The growing trend of internet-enabled devices and rising need of internet connectivity are some of the major factors which are anticipated the positive growth of data-centric security globally. In addition technological advancements in devices which are much smarter than the conventional and heavy devices. Rapid advancements in manufacturing, electronics and IT sectors across the globe are gaining traction from consumers which in turn intensified the demand for internet of things (IoT). Increasing usage of internet along with rising penetration of smart phone users around the world is one of the prime factors behind the positive growth of this industry. As data centric security services is used for reducing various threats, hence the growing demand for IoT is analysed to drive the market in the forecast period 2020-2025.
Advancements in Data Centric Security
Advancements in Data-centric security is analysed to drive the market. Several companies have been investing heavily for the innovation in data centric security. These companies are focusing on security of data based on context, value and compliance controls surrounding the data being secured. In 2018, Seclore, the solution provider for securing and auditing enterprise data, has established the new standard in ease-of-use with the launch of a complete agent-less data-centric security solution. Similarly, Ericsson has introduced industrialized data-centric security which provides customers with a unique approach to cyber security using continuous and real-time verification of system, network, and data integrity. In 2020, QuoLab Technologies has entered the market with a collaborative, data-centric security operations platform. Hence these advancements are analysed to drive the market in the forecast period 2020-2025.
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Data-Centric Security Market Challenges
Traffic Barrier while using Mobile Devices
Although data centric security is growing at a rapid phase, lack of Technical Expertise among Enterprise Workforce is a big threat for data centric security which is going to hamper the market growth in the forecast period. Moreover, availability of open-source data protection software also hampers the growth of security service providers who provide security as a service to end clients. Hence these challenges hamper the market growth in the forecast period 2020-2025.
Technology launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Data-Centric Security market. In 2019, the market of Data-Centric Security industry outlook has been fragmented by several companies. Data-Centric Security top 10 companies include IBM, Avepoint, Bluetalon, Dataguise, Datiphy, Imperva, Informatica, Micro Focus, Nextlabs, Oracle, Protegrity among others.
In 2018, Seclore, the solution provider for securing and auditing enterprise data, has established the new standard in ease-of-use with the launch of a complete agent-less data-centric security solution.
North America dominated the market by a market share of more than 34.5% in 2019, owing to Increasing of cyber-attacks, government data protection regulations, and proliferation of the adoption of cloud-based platforms.
Data-Centric Approach in Retail Sector is growing at a CAGR of 25.2% in the forecast period. Owing to the need to audit and protect critical consumer data stored in databases, files, and cloud.
Data-Centric Security in E-commerce segment is growing at a CAGR of 22.71% in the forecast period. With the increased growth and acceptance across the globe, several companies need to ensure a high-end shopping experience by updating their homepage, current content, trends, and improve search engine optimization to offer their customers better visibility.
Data-Centric Security top 10 companies include IBM, Avepoint, Bluetalon, Dataguise, Datiphy, Imperva, Informatica, Micro Focus, Nextlabs, Oracle, Protegrity among others.
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