As per the report published by Allied Market Research, the global data centric security market was accounted for $2.76 billion in 2020 and is estimated to reach $39.34 billion by 2030, growing at a CAGR of 30.6% from 2021 to 2030.
The rise in digitization trends and digital data production and increase in data privacy and security concerns with the Covid-19 pandemic has boosted the growth of the global data centric security market. However, high implementation costs and demands and less enthusiasm for data-centric security approaches in mainstream applications hinder the market growth. On the contrary, an increase in security concerns and cyber-attacks, and growth in cloud and digital media trends are expected to open new opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 pandemic had a favorable impact on the industry due to a sudden increase in the use of digital platforms and a surge in cyber-attacks.
- The global adoption of work from home culture and greater digital data creation increased the demand for data centric security measures.
North America dominated the data centric security market, due to increase in cyber-attacks, implementation of stringent government data protection regulations, and rise in adoption of cloud-based platforms. Furthermore, organizations have invested significantly in technologies concerning Data centric security to gain a competitive advantage and improve the business operations. In 2018, RFA and Seclore announced strategic partnership to deliver Data centric security to Hedge Funds. Similarly, in 2019, U.S.-based BlueTalon Data centric Security platform enabled leading enterprises to deploy precise, consistent, and dynamic user access controls across Hadoop, RDBMS, and Big Data environments whether on-premises or within the cloud.
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Segmental Review of Data Centric Security Market:
- By component, the solutions segment is estimated to be the major shareholder of data centric security market size. However, the services segment is expected to witness highest growth rate during the forecast period.
- On the basis of solutions, the data protection segment accounted for the highest revenue in 2020, however, the others segment is expected to witness highest growth rate during the forecast period.
- By deployment mode, the on-premise segment accounted for the highest revenue of data centric security market in 2020, however, the cloud segment is expected to witness highest growth rate during the forecast period.
- As per organization size, the SME segment accounted for the highest revenue in 2020, however, the large enterprise is expected to witness highest growth rate during the forecast period.
- According to industry vertical, the BFSI sector accounted for the highest revenue in 2020, however, the retail sector is expected to witness highest growth rate during the forecast period.
- Region wise, the was dominated by North America. However, Asia Pacific is expected to witness significant growth in the upcoming years.
In 2020, the global Data centric security market share was dominated by the solutions, and is expected to maintain its dominance in the upcoming years. In 2020, companies such as IBM, Microsoft, and Google dominated the cloud market and implemented various advanced technologies, such as artificial intelligence and machine learning, to analyze data. The operation of these massive volume of data to get their insights in real time presents new challenges for future software and solutions.
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Within the Data centric security market analysis, the professional service segment is estimated to emerge as fastest growing segment, owing to effective cost of services. Companies are becoming much more strategic and seeking benefits such as value creation, operational flexibility, and competitive advantage. These benefits are driving the adoption of services, thus contributing toward the growth of the data centric security industry.
Leading Players of Data Centric Security Market:
Some of the key companies mentioned within the report are Informatica, IBM, Broadcom, Micro focus, Varonis systems, Talend, Orange Cyberdefense, Forcepoint, Imperva, and Netapp.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the data centric security market trends along with current trends and future estimations to elucidate imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on the data centric security market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the data centric security industry.
- The quantitative analysis of data centric security market growth for the period 2020-2030 is provided to determine the market potential.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm the utmost data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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