Data-Centric Security Market
“What combination of drivers is leading to accelerated growth in the data-centric security market?
The data-centric security market is likely to experience significant growth due to the increasing number of data breach incidents predicted for the forecast period. Data breach incidents happen when someone unlawfully gains access to confidential data or reproduces sensitive information without permission. As a measure to prevent data loss, organizations are turning to data-centric security solutions. For instance, the Identity Theft Resource Center (ITRC), a non-profit organization based in the US, reported in January 2024 that in 2023 there were 3,205 incidents of data breaches, exposures, leaks, and unidentified incidents. These incidents affected about 353,027,892 people, including those who suffered from multiple breaches. Unfortunately, this is a 78% increase from the previous year and a 72% rise from the previous record of 1,860 breaches in 2021. Therefore, the spike in data breach incidents is expected to have a positive impact on the growth of the data-centric security market.
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What is the projected compound annual growth rate (CAGR) of the data-centric security market from 2025 to 2034, and what factors influence it?
In recent times, there has been a notable surge in the size of the data-centric security market. It is anticipated to expand from $8.19 billion in 2024 to $10.38 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 26.8%. The considerable expansion during the former period can be traced back to incidents of data breaches, regulatory conformity requirements, the widespread use of mobile devices, and concerns surrounding data privacy.
Anticipated to witness a considerable expansion in the ensuing years, the size of the data-centric security market is projected to escalate to $28.45 billion in 2029, registering a compound annual growth rate (CAGR) of 28.7%. Elements like the adoption of zero trust architecture, emphasis on endpoint security, global escalation of cybersecurity threats, advancement in privacy regulations, focus on automated response, and mounting concerns about data sharing can be credited for the predicted growth during the forecast period. Notable trends over the forecast period are expected to encompass data classification and discovery, cloud-native security solutions, data loss prevention (DLP) solutions, behavior analytics for identifying threats, continuous tracking and auditing, and the application of machine learning and AI for threat intelligence.
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How are the latest trends influencing the growth of the data-centric security market?
The development of cutting-edge technology is a significant trend emerging in the data-centric security market. Major participants in the market are inventing new technologies to enhance data security across diverse sectors. For example, Seclore, a tech company based in the United States, introduced a data-centric security platform in June 2022. This platform empowers businesses to find, categorize, secure, and monitor enterprise data both within and beyond the company. In February 2021, IBM, a multinational technology corporation from the US, and Palantir Technologies, an American software firm specializing in big data analytics, unveiled a collaboration featuring IBM’s hybrid cloud data platform engineered to provide AI for businesses along with Palantir’s advanced operations platform for creating applications. The product is forecasted to simplify the process businesses use to create and launch AI-powered applications with IBM Watson. Moreover, this will enable users to access, analyze, and manipulate substantial data volumes distributed across hybrid cloud systems, even without technical expertise.
What are the major segments of the data-centric security market and their role in driving growth?
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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Which regions are key players in the growth of the data-centric security market?
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.
Who are the key firms paving the way for growth in the data-centric security market?
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.
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What Is Covered In The Data-Centric Security Global Market Report?
• Market Size Forecast: Examine the data-centric security market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the data-centric security market for a structured understanding.
• Key Players Overview: Analyze major players in the data-centric security market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the data-centric security market.
• Segment Contributions: Evaluate how different segments drive overall growth in the data-centric security market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the data-centric security market.
• Industry Challenges: Identify potential risks and obstacles affecting the data-centric security market.
• Competitive Landscape: Review strategic developments in the data-centric security market, including expansions, agreements, and new product launches.”
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