Global Data-centric Security Market Insights Forecasts to 2032

• The Global Data-centric Security Market Size was valued at USD 5.3 Billion in 2022.
• The market Size is growing at a CAGR of 21.4% from 2022 to 2032
• The Worldwide Data-centric Security Market Size is expected to reach USD 36.9 Billion by 2032
•  Asia Pacific is expected to grow the fastest during the forecast period

The Global Data-centric Security Market Size is expected to reach USD 36.9 Billion by 2032, at a CAGR of 21.4% during the forecast period 2022 to 2032.

Data-centric security is a novel method of preventing the theft or exploitation of sensitive data. Global need for data-centric security will increase due to several causes, including strict compliance and regulatory requirements, and rising risks to enterprise data from the use of big data analytics, machine learning, and artificial intelligence. Additionally, data-centric security solutions are playing a bigger role in organizations' mission-critical data protection policies as the number of assaults rises. The global market for data-centric security is still in its early stages, but it is expected to expand quickly over the coming years as end users' concerns about data security increase. Additionally, as data breaches rise, data-centric security companies have more chances, which is fueling the market's expansion over the projection period. Businesses frequently have to lose crucial information about their operations due to an increase in data breach activities. Despite large investments in infrastructure and data protection related to privacy, crucial data is still exposed.

Driving Factors

In the cloud, data is expanding more quickly and is free to move wherever it is needed by a workforce that is becoming more mobile. Businesses like IBM, Microsoft, and Google dominated the cloud market and used cutting-edge technology like AI and ML to analyze data. The market for data-centric security is anticipated to be driven by large and small businesses' growing need to protect data on the cloud. As an illustration, Informatica offers Intelligent Cloud ServicesSM, which includes encryption at the operating system, database, and application levels as well as failover data centers, user authentication, and access controls. The risk of data breaches has increased with the adoption of new devices, security, access patterns, and methods required maintaining cloud environments while working from home. During this pandemic, numerous businesses have created data-centric security solutions and services. For instance, Cloudera now offers its clients the most recent cloud data security solution to protect their data after COVID-19.

Restraining Factors

Organizational tolerance for security breaches and issues imposed by internal flaws, it can be viewed as both the cause of and the solution to data security issues. It is tempting to think that an organization can only be protected from dangers by using high-tech security measures. By embracing this attitude, firms are able to prevent the corporate culture and behavior that contribute to information security risk, two key factors.

Market Segmentation

By Component Insights

The Software segment dominates the market with the largest revenue share over the forecast period.

Based on components, the global data-centric security market is segmented into software & solutions and professional services. The software segment accounted for the largest market share more than 65.5%. The number of cyberattacks and data breaches is rising, which has increased demand for data-centric security software. Industries including BFSI, IT & telecom, and retail are continuously implementing this software, solutions due to high-profile incidents. The government's increased emphasis on enhancing data privacy and regional regulatory compliance also contributes to the market's segmented expansion. Due to its essential function in providing complete security measures, the software & solution segment commands the greatest share of the market for data-centric security. To safeguard data when it is in use, transit, or at rest, data-centric security solutions include a variety of technologies and methods. These remedies include data masking, tokenization, anonymization, encryption, access limitations, and data loss prevention (DLP).

By Deployment Insights

The on-premises segment is witnessing significant CAGR growth over the forecast period.

Based on deployment, the global data-centric security market is segmented into cloud and on-premises. Among these, the on-premises segment is witnessing significant CAGR growth over the forecast period. Industries with stringent rules or organizations with strict governance procedures frequently choose complete control over their data assets. The on-premise data-centric security solution gives businesses total control over data storage, access, and protection while allowing them to preserve their data within their physical infrastructure. During the forecast period, this is one of the factors that are projected to drive the market for on-premise data-centric security.

By Enterprise Size Insights

The large enterprise segment is expected to hold the largest share of the global data-centric security market during the forecast period.

Based on the enterprise, the global data-centric security market is classified into SME and large enterprises. Among these, the large enterprise segment is expected to hold the largest share of the data-centric security market during the forecast period. Large data storage sets and resource access on these storage units, which have contributed to an increase in assaults against large companies, have increased demand for the data-centric security market. Owing to the complexity and integrity of cyberattacks, it is now necessary to use highly sophisticated cybersecurity strategies, such as data-centric security solutions. These solutions provide visibility for enterprises, enabling them to efficiently monitor and enforce data protection policies as well as quickly identify and address security events.

By End user Insights

The BFSI segment accounted for the largest revenue share over the forecast period.

Based on end-users, the global data-centric security market is segmented into BFSI, government & defense, healthcare & pharmaceuticals, IT & enterprises, telecommunication, retail, and others. Among these, the BFSI segment dominates the market with the largest revenue share over the forecast period. Trade secrets, financial information, and sensitive personal data are all stored in the BFSI sector. As a result, the BFSI industry is now a top target for cyberattacks. The importance of implementing a strong data security approach has increased as a result of the complexity and frequency of cyber-attacks, which has increased the demand for data-centric security. It has also become clear that implementing cloud infrastructure across the BFSI sector to increase scalability, operational efficiency, and cost-effectiveness may introduce several security risks.

Regional Insights

North America dominates the market with the largest market share over the forecast period.

North America is dominating the market with more than 38.7% market share over the forecast period. Data security solutions are expected to be in high demand as a result of the increasing attacks on governmental institutions, businesses, critical infrastructure projects, and the general populace. The necessity for data-centric security has arisen as a result of North America's dynamic and complex cyber threat architecture. The expansion is anticipated to be boosted by the presence of various businesses in North America, including Microsoft, IBM, McAfee, and others. Furthermore, strict government rules like the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) have created a desire for advanced cybersecurity solutions to prevent negative legal and economic effects, hence boosting the demand.

Asia-Pacific market is expected to register the fastest CAGR growth rate during the forecast period. Huge data assets have been created as a result of the increasing adoption of digitalization, machine learning, AI, and the Internet of Things (IoT) in regions of India, Australia, South Korea, and China. These assets need to be protected from vulnerable threats and risks like ransomware, malware, data breaches, and others. The Information Technology Act, 2000 (ITA, or IT Act) of India, the Cybersecurity Act of Singapore, and the Security of Critical Infrastructure Protection Act of Australia are just a few of the laws and regulations that the government is enforcing to combat cyber issues. These laws and regulations are increasing the demand for data-centric security.

List of Key Market Players

• Egnyte
• Forcepoint
• IBM
• Imperva
• Infogix
• Informatica
• McAfee
• Micro Focus
• Microsoft
• NetApp
• Netwrix
• Orange Cyberdefense
• Seclore
• Symantec
• Thales eSecurity

 Key Market Developments

• In May 2022, Oracle, to take advantage of Informatica's industry-leading connectivity and governance solutions, Oracle Cloud Infrastructure and Informatica formed a strategic partnership. Oracle Exadata Cloud Customer, Oracle Automated Database, Oracle Exadata Database Service, and Oracle Object Storage have all been linked to Informatica's Intelligent Data Management Cloud (IDMC).

• In April 2022, Informatica, collaboration between the data cloud and Informatica's Intelligent Data Management Cloud (IDMC) was disclosed by Snowflake, a provider of data clouds.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2032. Spherical Insights has segmented the Global Data-centric Security Market based on the below-mentioned segments:

Data-centric Security Market, Component Analysis

• Software & Solutions
• Professional Services

Data-centric Security Market, Deployment Analysis

• Cloud
• On-premises

Data-centric Security Market, Enterprise Size Analysis

• SME
• Large Enterprise

Data-centric Security Market, End User Analysis

• BFSI
• Government & Defense
• Healthcare & Pharmaceuticals
• IT & Enterprises
• Telecommunication
• Retail
• Others

Data-centric Security Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa