Data-Centric Security

Data-Centric Security

Global Data-Centric Security Market to Reach US$32.3 Billion by 2030

The global market for Data-Centric Security estimated at US$9.5 Billion in the year 2023, is expected to reach US$32.3 Billion by 2030, growing at a CAGR of 19.1% over the analysis period 2023-2030. Data-Centric Security Solutions, one of the segments analyzed in the report, is expected to record a 16.8% CAGR and reach US$16.7 Billion by the end of the analysis period. Growth in the Data-Centric Security Services segment is estimated at 22.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.7 Billion While China is Forecast to Grow at 18.7% CAGR

The Data-Centric Security market in the U.S. is estimated at US$2.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.1 Billion by the year 2030 trailing a CAGR of 18.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 16.6% and 16.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.5% CAGR.

Global Data-Centric Security Market - Key Trends and Drivers Summarized

What Is Data-Centric Security and Why Is It Crucial in the Digital Age?

Data-centric security is an approach that emphasizes the protection of data itself rather than just focusing on securing the networks, servers, or applications where data resides. As businesses increasingly move towards digital platforms, where data spreads across clouds, mobile devices, and beyond traditional perimeters, securing the data itself becomes imperative. This approach ensures that sensitive data is protected at all points of its lifecycle—during processing, storage, and transit—using methods like encryption, tokenization, and rigorous access controls. Data-centric security is particularly critical in sectors such as finance, healthcare, and any organization handling large volumes of sensitive data, where the repercussions of data breaches can be catastrophic not just financially but also in terms of privacy violations and reputational damage.

How Are Organizations Implementing Data-Centric Security Measures?

Implementing data-centric security involves several key strategies that collectively protect data across different environments. Encryption is one of the most common tools, ensuring that data is unreadable to unauthorized users even if they bypass other security measures. Access control mechanisms are also crucial, as they ensure only authorized personnel can access sensitive information based on their roles. For data-centric security to be effective, these controls must be applied consistently across all platforms where the data might reside, from on-premises servers to cloud-based services. Additionally, organizations are increasingly utilizing advanced monitoring tools that track how data is accessed and used across different systems, helping to detect and respond to abnormal activities that could indicate a security breach.

What Challenges Do Organizations Face With Data-Centric Security?

One of the primary challenges in implementing data-centric security is ensuring the scalability and manageability of security measures as data volumes and types expand. As organizations continue to integrate more IoT devices and incorporate more cloud services, the complexity of securing data across disparate systems grows. There`s also the ongoing need to balance data protection with accessibility; overly stringent security measures can impede legitimate data access and business agility. Compliance with a growing landscape of international data protection regulations, such as GDPR or CCPA, adds another layer of complexity, requiring not just protection but also careful documentation of data handling practices. The integration of data-centric security measures into existing IT infrastructures can be challenging as well, often requiring significant adjustments to legacy systems.

What Drives the Growth in the Data-Centric Security Market?

The growth in the data-centric security market is driven by several factors, starting with the exponential increase in data generation and the expansion of digital transformation initiatives across industries. As businesses become more data-driven, the importance of ensuring the confidentiality, integrity, and availability of data escalates. The rising number of high-profile data breaches and cyberattacks also compels organizations to prioritize data security to safeguard against potential financial and reputational damages. Furthermore, the tightening of data protection laws globally is pushing companies to adopt more stringent security measures to comply with legal standards and avoid hefty fines. Technological advancements that facilitate more sophisticated and integrated security solutions are enabling organizations to deploy data-centric security strategies more effectively. Additionally, growing awareness of the risks associated with inadequate data protection in an increasingly interconnected world drives demand for robust security solutions, ensuring continued investment and innovation in the data-centric security market.

Select Competitors (Total 44 Featured) -

• AvePoint, Inc.
• BlueTalon, Inc.
• Dataguise, Inc.
• Datiphy Inc.
• IBM Corporation
• Imperva, Inc.
• Informatica LLC
• Micro Focus International PLC
• NextLabs, Inc.
• Oracle Corporation
• Protegrity USA, Inc.
• Varonis Systems, Inc.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.