Data Centric Security Market Size Worth $23.62 Billion By 2030 | CAGR: 23.99%

The global data centric security market size is expected to reach USD 23.62 billion by 2030, according to a new study by Polaris Market Research. The report “Data Centric Security Market Share, Size, Trends, Industry Analysis Report, By Vertical; By Component; By Deployment Mode; By Organization Size; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market is growing rapidly due to the presence of key manufacturers in the industry, investments and advancements, a strict regulatory environment, and a rise in the frequency of technology use.

During the pandemic, the manufacturers have taken various initiatives to secure data as work from home was going on. The launches of solutions and services for the security of their data are boosting the market growth over the forecast period. For instance, in August 2021, McAfee Enterprise unveiled “MVISION PRIVATE ACCESS,” a coordinated strategy to expand data and security protection capabilities to private apps hosted throughout hybrid IT infrastructures and provide granular "Zero Trust" access. As the COVID-19 pandemic subsides in some areas, several businesses are expanding the opportunity to work virtually.

Furthermore, with the increasing incidence of technology adoption, countries are displaying enormous prospects for data-centric security software and services.  The launch of the new platform, BYOD policies, CYOD trends, and corporate apps are also expected to make the IT infrastructure more complex and heterogeneous.

Due to the rapid advancements in mobile computing, the BYOD and CYOD patterns are becoming much more prevalent in professional situations. These advancements enable employees to access business data via mobile devices from any location at any time, increasing employee productivity while safeguarding organizational data from potential threats and maintaining its confidentiality and integrity.

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Additionally, the growth of the market is being aided by the requirement for data-centric security solutions brought on by the increase in cyberattacks. The market is expanding quickly due to factors such as escalating end-user data security concerns, the move from physical offices to virtual clouds for collaboration, the impending concern over data breaches, compliance requirements, and expanding threat vectors.

Data-centric Security Market Report Highlights

• Large Enterprises segment is anticipated to grow rapidly over the forecast period. To efficiently streamline their security, large businesses use various analytical techniques, such as data-centric security. Ransomware-based cyberattacks against large corporations are growing increasingly frequent and damaging.
• The government and defense segment accounted for a significant revenue share. To prevent unauthorized parties from using sensitive personal information about residents or secret governmental/military business records online, government and defense deploy data-centric security.
• Asia-Pacific is expected to grow at the largest CAGR over the projected period. Due to the extensive use of internet apps and the surge in vulnerable devices in the area, many vulnerabilities have emerged, leading to various ransomware attacks.
• Major players operating in the global market include Broadcom Inc., Forcepoint Corporation, Imperva, Inc., IBM Corporation, Micro Focus International PLC, NetApp, Inc., Talend S.A., and, Varonis Systems.

Polaris Market Research has segmented the Data-centric Security market report based on component, vertical, deployment mode, organization size, and region:

Data Centric Security, Component Outlook (Revenue - USD Billion, 2018 - 2030)

• Software and Solutions
  • Data Discovery and Classification
  • Data Protection
  • Data Governance and Compliance
  • Data Privacy
  • Others
• Professional Services

Data Centric Security, Vertical Outlook (Revenue - USD Billion, 2018 - 2030)

• BFSI
• Government and Defense
• Healthcare and Pharmaceuticals
• Telecommunications
• IT and Enterprises
• Retail
• Other Verticals

Data Centric Security, Organization Size Outlook (Revenue - USD Billion, 2018 - 2030)

• Large Enterprises
• SMEs

Data Centric Security, Deployment Mode Outlook (Revenue - USD Billion, 2018 - 2030)

• On-Premises
• Cloud

Data Centric Security, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa