Data Centric Security Market by Component (Professional Services, Software & Solutions), Function (Access Control, Data Classification, Data Loss Prevention), Deployment Mode, Organization Size, Vertical - Global Forecast 2024-2030

Data Centric Security Market by Component (Professional Services, Software & Solutions), Function (Access Control, Data Classification, Data Loss Prevention), Deployment Mode, Organization Size, Vertical - Global Forecast 2024-2030

The Data Centric Security Market size was estimated at USD 6.29 billion in 2023 and expected to reach USD 6.97 billion in 2024, at a CAGR 11.18% to reach USD 13.22 billion by 2030.

Data-centric security is an approach that emphasizes the protection of data itself rather than focusing solely on protecting networks, servers, or applications. This paradigm shift prioritizes safeguarding data throughout its lifecycle, ensuring its integrity, confidentiality, and accessibility, irrespective of the location of the data or the interactions it may undergo. Core components of data-centric security include data discovery and classification, data obfuscation techniques, robust access controls, and continuous monitoring for malicious activities or anomalies. Rising data security risks across organizations require industries to adopt the security solutions fueling market growth. The growing adoption of technology across sectors and supportive government regulations for data security has further fueled the market demand. However, limitations in data-centric techniques and the high cost associated with data-centric security system installations hamper its market growth. The rise of advanced technologies such as cloud computing, the IoT, big data analytics, and artificial intelligence significantly shapes the data-centric security market.

Regional Insights

The Americas represent a significant landscaper in the data-centric security market attributed to the stringent regulatory mandates driving the adoption of data-centric security solutions. Moreover, the region is home to leading security solution providers and witnesses hefty investments in research & development activities, further accelerating market growth. It is also noteworthy that the presence of large, tech-savvy enterprises in this region leads to a heightened emphasis on data security to protect intellectual properties and maintain competitive advantages. Europe holds substantial growth in the market due to government regulations, which have profoundly impacted how data is managed and secured. The broad applicability and stringent penalties have compelled businesses within and outside EU borders to invest in robust data-centric security measures. Government initiatives in the Middle East and Africa highlight the increasing commitment to regional data security. Furthermore, the diverse socioeconomic landscape of MEA offers opportunities for tailor-made solutions that cater to unique needs and regulatory standards in different countries.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Data Centric Security Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Rising data security risk with growing technology adoption across industries
Supportive government regulations and initiatives for data security
Increasing shift towards data-centric security solutions

Market Restraints

High cost associated with installation and maintenance

Market Opportunities

Deployment and development of new technologies and growth in cloud-based security
Rising investment activities by the government and manufacturers

Market Challenges

Vulnerabilities and risks associated with deploying data-centric security solutions

Market Segmentation Analysis

Component: Potential utilization of data-centric security software & solutions
Function: Access control regulates and restricts access to sensitive data
Deployment Mode: Adoption of on-cloud deployment mode among organizations
Organization Size: High demand for data-centric security among large enterprises

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Data Centric Security Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Data Centric Security Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Lookout Increases Strategic Investment in Data-centric Cloud Security

Lookout, Inc., a cloud security company, introduced new enhancements to its Lookout Cloud Security Platform. These updates are specifically designed to assist organizations in discovering, evaluating, and safeguarding their valuable data. The Lookout Cloud Security Platform offers a comprehensive solution for effectively securing data by enhancing visibility and controlling access across all applications.

NextLabs Enhances its Zero Trust Data-Centric Security Software Suite for SAP

NextLabs announced significant enhancements to their Data-Centric Security Suite for SAP, a comprehensive set of offerings designed to address the security needs of businesses in a zero trust environment. With these enhanced capabilities, organizations can now enforce least privilege access automatically, preventing unauthorized disclosure of sensitive information, and ensuring persistent protection of files through externalized authorization and data security control.

Micro Focus’ CyberRes Partners with Google Cloud to Enable High-Scale Secure Cloud Analytics with Data Privacy

CyberRes, a Micro Focus line of business, announced a strategic partnership with Google Cloud to empower the integration of Voltage SecureData, their end-to-end enterprise data protection solution, with BigQuery Remote Functions. This collaboration aims to provide customers with enhanced data security capabilities, allowing them to protect their data at every stage, including data in motion, at rest, and in use within the Google BigQuery platform.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Data Centric Security Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Data Centric Security Market, highlighting leading vendors and their innovative profiles. These include BigID, Inc., Broadcom Inc, Concentric.Ai, Dig Security Solutions Ltd., Egnyte, Inc., Fasoo, Forcepoint, Fortra, LLC, Informatica Inc., Integrity Communications Ltd, International Business Machines Corporation, Lepide, McAfee, LLC, Micro Focus International plc by OpenText Corporation, NetApp, Inc, Netwrix Corporation, NextLabs, Inc., Orange Cyberdefense SA, PKWARE, Inc, Proofpoint, Inc., RiskOptics, Inc., Rohde & Schwarz GmbH & Co. KG, SEALPATH TECHNOLOGIES, S.L., Spirion, LLC, Varonis Systems, Inc., and Virtru.

Market Segmentation & Coverage

This research report categorizes the Data Centric Security Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
Professional Services
Software & Solutions
Function
Access Control
Data Classification
Data Loss Prevention
Managed File Transfer
Deployment Mode
On-Cloud
On-Premises
Organization Size
Large Enterprises
Small & Medium-Sized Enterprises
Vertical
Banking, Financial Services & Insurance
Government & Defense
Healthcare & Pharmaceuticals
IT & Enterprises
Retail & Supply Chain Management
Telecommunications
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year