The global data centric security market value was US$ 2.71 billion in 2020. The global data centric security market is forecast to reach US$ 39.341 billion by 2030, and the market will grow at a compound annual growth rate (CAGR) of 30.3% during the forecast period from 2021-2030. 

A data centric security approach focuses on securing data wherever it is stored and handled, rather than concentrating on security controls for servers, applications, or network infrastructure. Through the direct connection between security services and the data they safeguard, data centric security also enables organizations to overcome the disengagement between IT security technology and business strategy objectives.

Organizations can reduce inside threats, hacker threats, and other malicious attacks with data-centric security. Data-centric security continuously monitors the activity of confidential data. In addition to this, data-centric models utilize zero-trust approaches to reduce cyber risks since users request privilege access only when necessary. Furthermore, securing data transmissions, maintaining data integrity and privacy, ensuring compliance, and preventing unauthorized access, data centric security offers many other advantages.

Factors Influencing the Market Growth

• Over the forecast period, the data centric security market is forecast to grow due to a growing demand for data centric security solutions for cloud-based data security, the increasing risk of enterprise data loss due to misuse of big data analytics, artificial intelligence, and machine learning.
• Enterprises are being encouraged to implement data centric security due to strict regulations such as the federal information processing standard and the Payment Card Industry Data Security Standard, which are likely to accelerate the development of the data-centric security market.
• During the pandemic, cyber-attacks increased dramatically, making data centric security a priority today and likely to propel market growth in the future.
• Increasing data breach cases will create opportunities for the data centric security market during the forecast period.
• There have been predictions that financial concerns and a lack of awareness concerning data-centric security solutions will hamper the market.

Impact Analysis of COVID-19

COVID-19 pandemic has a favorable impact on the data centric security industry as companies shift to digital platforms and policies that allow them to work from home, leading to the generation of more digital data and the increase in cyber-attacks. Stringent data storage and leakage prevention policies, regular monitoring of access points both physically and digitally, and the use of high-quality security technologies are critical. Due to increased awareness of data privacy and security, companies are likely to tighten security rules in the future, allowing the data centric security market to grow even further.

Regional Insight

With the increasing use of mobile devices in the Asia Pacific, the region has been one of the fastest-growing markets in terms of mobile workforce expansion. Many SMEs and enterprises in the Asia-Pacific region recognize the importance of data centric security. They are receptive to adopting data-centric security solutions to protect critical and sensitive business data from commercial espionage, cyber threats, and misuse for financial gain by hackers. The APAC region has widely adopted encryption technologies to prevent data theft. Asia Pacific countries are beginning to adopt superior data centric security solutions, such as Singapore and India.

Leading Competitors

• Broadcom
• Forcepoint
• IBM
• Imperva
• Informatica
• Micro Focus
• Netapp
• Orange Cyberdefense
• Talend
• Varonis Systems
• Other Prominent Players

Scope of the Report

The global data centric security market segmentation focuses on Component, Deployment Type, Organization Size, Industrial Vertical, and Region.

Segmentation based on Component

• Software & Solutions
  • Data Discovery & Classification
  • Data Protection
  • Data Governance & Compliance
  • Others (DLP and Data Tagging & Watermarking)
• Professional Services

Segmentation based on Deployment Type

• On-premise
• Cloud

Segmentation based on Organization Size

• Small- & Medium-sized Enterprises (SMEs)
• Large Enterprises

Segmentation based on Industrial Vertical

• BFSI
• Government & Defense
• Healthcare & Pharmaceuticals
• IT & Enterprises
• Telecommunication
• Retail
• Others (Energy, manufacturing, gaming and gambling, media and education)

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America