Data-centric Security Market Size, Share Report, Analysis, Trends, Growth,(2024

The size of the global data-centric security market was estimated to be approximately USD 4.30 billion in 2024, and it is expected to increase at a compound annual growth rate (CAGR) of roughly 16.99% between 2024 and 2032 to be around USD 15.48 billion.

Abstract:

Data-centric security is becoming increasingly vital as organizations face growing threats to their data assets. This research article provides a comprehensive analysis of the data-centric security market, exploring current trends, technological advancements, market dynamics, and future growth opportunities. It offers valuable insights for businesses, security professionals, and investors interested in the evolving landscape of data protection.

Introduction:

Data-centric security focuses on protecting data itself, rather than just securing the perimeter or endpoints. This article examines the current state of the data-centric security market, highlighting key trends, technological innovations, and potential growth areas. It also addresses the challenges and opportunities facing the industry.

Overview of the Global Data-centric Security Market

A radically new strategy for preventing sensitive data from being misused or stolen is data-centric security. In contrast to the perimeter-centric or traditional network security approach, which primarily focusses on providing protection where the data is stored or accessed, including devices, applications, networks, and servers, data-centric security has the crucial feature of applying protection to the data itself, regardless of its location.

Growth Factors for the Global Data-centric Security Market

The market for data-centric security is expanding quickly on a worldwide scale. Some of the key drivers propelling the growth of the global market include the rise in cyberattacks, the growing number of data breaches, and the growing adoption of cloud-based solutions for data storage. Sensitive data can be stored or transferred through systems that are outside of the conventional perimeter due to the expanding use of cloud computing. Since the cloud has no boundaries, data can flow wherever and whenever it is needed, which is why a sizable portion of the mobile workforce needs effective data protection.

Furthermore, there is a marked increase in both the severity and frequency of data breaches. Over 4.1 billion records were exposed as a result of about 4000 different events in the first two quarters of 2019. As a result, a change in cybersecurity approach is required to maintain a safe perimeter around the systems and applications and safeguard the data from unauthorised access.

Data-centric security can be extremely important in these kinds of situations because it keeps sensitive data safe from misuse both inside and outside the company, protects against financial loss and reputational harm from data breaches, increases security awareness initiatives to reduce cyberthreats, complies with privacy laws and data protection regulations, and segregates potentially targeted information from less valuable information.

The increasing use of data-centric security as a result of all these reasons has fuelled the expansion of the worldwide data-centric security market. Additionally, one of the main factors boosting the global market’s growth is the government’s increasing demand for data-centric security to secure sensitive data, as well as the rapid generation of big data.

Furthermore, during the course of the forecast period, there may be multiple chances for the growth of the worldwide data-centric security market due to the increasing use of cutting-edge technologies like artificial intelligence and machine learning for data analysis. Nonetheless, the proliferation of open-source data protection software and a scarcity of skilled labour may impede the expansion of the worldwide data-centric security industry.

The majority of companies have put in place a policy allowing their staff to work remotely in order to comply with the severe guidelines of total lockdown and movement restrictions during the COVID-19 epidemic. Over 80% of the organisations’ workforces work remotely from home. The concepts of remote work were totally transformed by this. For more efficient working procedures, cloud-based solutions were even used by small businesses. However, throughout the epidemic, there was a rise in the frequency of data breaches and cyberattacks. As a result, there was a significant increase in the requirement for data-centric security, which in turn encouraged the worldwide data-centric security market to develop during the pandemic and is predicted to continue growing at a healthy rate in the years to come.

Segmentation of the Global Data-centric Security Market

Based on factors including vertical, geography, organisation size, deployment mode, and component, the global data-centric security market is divided. The global data-centric security market is divided into major companies and small and medium-sized enterprises (SMEs) based on the size of the organisation. On-premise and on-cloud deployment modes make up the deployment mode category. The global market is divided into two segments based on the component: software & solutions and professional services. Retail, telecommunication, IT & enterprises, healthcare & pharmaceuticals, government & defence, BFSI, and other industries make up the vertical section.

Worldwide Data-centric Security Industry: Report Purpose

Regional Analysis of the Global Data-centric Security Market

The global data-centric security market is expected to be dominated by North America, which is expected to continue its trend throughout the forecast period. The market in this region is expanding as a result of factors such the rise in cyberattacks, the usage of cloud-based solutions, and the growing need from the well-established defence sector for data-centric security solutions. Due to the rapidly rising mobile workforce and the increasing need to protect sensitive data to prevent financial losses, Asia Pacific is predicted to develop at the fastest rate.

Key Trends:

Technological Advancements:
Regulatory Compliance:
Integration with Cloud Security:
Focus on Data Privacy:

Technological Innovations:

Data Encryption Technologies:
Data Masking and Tokenization:
Advanced Data Loss Prevention (DLP):
Identity and Access Management (IAM):

Challenges and Barriers:

Complexity of Implementation:
Integration with Legacy Systems:
Evolving Threat Landscape:

Future Opportunities:

Market Expansion:
Innovation and R&D:
Enhanced Data Privacy Measures:

Conclusion:

The data-centric security market is experiencing significant growth, driven by technological advancements, increasing data protection needs, and regulatory requirements. While challenges related to implementation complexity, integration with legacy systems, and evolving threats persist, the market offers substantial opportunities for innovation and expansion. Stakeholders must stay informed about emerging trends and technological developments to leverage the full potential of data-centric security solutions.