Data-Centric Security Market Size Report & Forecast 2028

Data-Centric Security Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Service), Deployment Mode (On Premise and Cloud based), Organization Size (Small and Medium Enterprises (SMEs) and Large Enterprises), and Verticals (IT and Telecommunication, BFSI, Government and Defense, Healthcare and Pharmaceutical, and Others)

Publication Month : Aug 2022

  • Report Code : TIPRE00022414
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 198
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[Research Report] The Data-Centric Security market size is projected to reach US$ 16,518.1 million by 2028 from US$ 4,510.6 million in 2022. The Data-Centric Security Market share is expected to grow at a CAGR of 24.2% from 2022 to 2028.

Analyst Perspective:

The data-centric security market has experienced significant growth and transformation in recent years. With the increasing volume of sensitive data generated and stored by organizations, protecting this information from cyber threats and unauthorized access has become a top priority. Data-centric security focuses on securing the data rather than solely relying on perimeter-based defenses. This approach recognizes that data is the most valuable asset and should always be protected, regardless of its location or the devices used to access it. Organizations face constant threats from hackers, malicious insiders, and other cybercriminals who seek to exploit vulnerabilities and gain unauthorized access to sensitive information. This has led to an increased demand for advanced security solutions that can safeguard data throughout its lifecycle. Encryption is vital in securing data, ensuring it remains unreadable to unauthorized parties even if it is intercepted or stolen. Access controls, authentication mechanisms, and identity management solutions help enforce strict permissions and restrictions, allowing only authorized individuals to access and modify data.

Additionally, data-centric security involves techniques such as data masking, tokenization, and anonymization, which help minimize the exposure of sensitive information by replacing it with fictional or non-sensitive data. Data loss prevention (DLP) solutions are also crucial in preventing accidental or intentional data leaks by monitoring and controlling data flows within an organization. The data-centric security market comprises various vendors and service providers offering a wide range of solutions to cater to the diverse needs of organizations. As organizations increasingly rely on these technologies to store and process massive amounts of data, securing this data has become paramount.

Market Overview:

"Data-centric security" describes how systems and data are protected within an organization. Instead of concentrating on the hardware or software that stores, processes, or uses the data, data-centric security emphasizes identifying, managing, and safeguarding the data. Regardless of where their most sensitive and vital data is located, organizations can secure it with data-centric security solutions. Solutions for data-centric security are created to deal with the problems brought on by the volume, variety, and speed of data that is growing. These solutions can assist organizations in safeguarding their data against loss, leakage, and unauthorized access while providing that only authorized users have access to the information.

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Data-Centric Security Market: Strategic Insights

data-centric-security-market
Market Size Value inUS$ 4,510.6 Million in 2022
Market Size Value byUS$ 16,518.1 Million by 2028
Growth rateCAGR of 24.2% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
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Market Driver:

Increasing Awareness of Insider Threats to Drive Growth of Data-Centric Security Market

The increasing awareness of insider threats plays a important role in driving the growth of the data-centric security market. Organizations recognize the potential risks posed by employees, contractors, or partners with authorized access to sensitive data. This awareness has increased demand for data-centric security solutions that effectively mitigate insider threats and safeguard critical information. Insider threats can arise from various sources, including employees with malicious intent, unintentional mistakes or negligence, or compromised user accounts. Such threats can result in data breaches, intellectual property theft, financial losses, or organizational reputational damage. As a result, organizations are taking proactive measures to address this issue and protect their valuable data assets. Data-centric security solutions provide a range of capabilities to counter insider threats. Robust access controls and permissions help restrict data access to authorized individuals, reducing the risk of unauthorized disclosure or manipulation. Encryption technologies ensure that even if an insider gains access to sensitive data, it remains unreadable without the proper decryption keys.

Additionally, data-centric security solutions employ monitoring and auditing mechanisms to track and analyze data access patterns, helping identify suspicious activities or deviations from normal usage. This enables organizations to detect insider threats in real time and take immediate action to mitigate the risks. Furthermore, data-centric security solutions often include features such as data loss prevention (DLP) and user behavior analytics (UBA). DLP systems monitor organizational data flows, flagging any attempts to exfiltrate sensitive information or violate data handling policies. UBA tools leverage machine learning algorithms to analyze user behavior and identify anomalies that may indicate insider threats, such as unusual data access or transfer patterns. The increasing awareness of insider threats has resulted in a cultural shift within organizations, emphasizing the importance of data security and the need for comprehensive solutions. As a result, the demand for data-centric security solutions that specifically address insider threats has grown significantly. Vendors and service providers in the market are innovating and expanding their offerings to cater to this demand, driving the overall growth of the data-centric security market.

Segmental Analysis:

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Data-centric security market analysis by component, the market is segmented into solution and service. The solution segment held the largest share of the market in 2020 and is anticipated to register the highest CAGR in the market during the forecast period. The solution segment has the largest share in the data-centric security market due to its critical role in providing comprehensive security measures. Data-centric security solutions offer a range of technologies and tools to protect data at rest, in transit, and use. These solutions include encryption, access controls, authentication mechanisms, data masking, tokenization, anonymization, and data loss prevention (DLP). They address diverse security challenges such as data breaches, insider threats, unauthorized access, data leaks, and compliance with regulations. The segment benefits from continuous innovation and integration of advanced technologies like machine learning (ML) and artificial intelligence (AI) for improved threat detection and response. Overall, organizations recognize the need for robust, integrated solutions, leading to the dominance of the solution segment in the data-centric security market.

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Regional Analysis:

The North America data-centric security market was valued at US$ 1,739.74 million in 2022 and is projected to reach US$ 6,443.72 million by 2028; it is expected to grow at a CAGR of 24.4% during the forecast period. Due to several key factors, the North America region has emerged as the dominant force in the data-centric security market. This region has witnessed significant adoption and implementation of data-centric security solutions across various industries, contributing to its market dominance. Firstly, North America is home to numerous large enterprises and multinational corporations that handle vast amounts of sensitive data. These organizations face stringent regulatory requirements and the constant threat of cyber attacks. As a result, they have been early adopters of data-centric security solutions to protect their valuable information assets and ensure compliance with data protection regulations. Secondly, North America has a mature cybersecurity ecosystem comprising advanced technologies, skilled professionals, and a robust infrastructure. The region has witnessed substantial investments in cybersecurity initiatives, research and development, and cybersecurity startups. This conducive environment has fostered the development and deployment of innovative data-centric security solutions, further strengthening the market position of North America. Additionally, North America has been at the forefront of technological advancements, with significant adoption of cloud computing, big data analytics, and IoT technologies. These technologies generate and process vast amounts of data, requiring robust security measures. Data-centric security solutions that protect data in these advanced environments have experienced high demand in North America. Moreover, North America has faced several high-profile data breaches and cyber-attacks, which have raised awareness about the importance of data security. These incidents have prompted regional organizations to prioritize data protection and invest in robust security solutions. The need to comply with data privacy regulations, such as the Health Insurance Portability and Accountability Act (HIPAA) and the Payment Card Industry Data Security Standard (PCI DSS), has also contributed to adopting data-centric security solutions in North America. Furthermore, North America has a strong presence of major data-centric security solution providers, established companies, and startups. These vendors offer a wide range of solutions tailored to the precise requirements of organizations in the region, further driving the market dominance of North America.

Key Player Analysis:

The data-centric security market analysis consists of the players such as IBM Corporation; Broadcom Inc.; Informatica; Micro Focus International plc; NetApp, Inc.; Imperva; Forcepoint; Orange Cyberdefense; Talend; and Varonis Systems. Among the players in the data-centric security IBM Corporation and Forcepoint are the top two players owing to the diversified product portfolio offered.

Recent Developments:

 

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the data-centric security market. A few recent key market developments are listed below: 

  • May 2022, Informatica and Oracle established a strategic relationship that would enable Oracle Cloud Infrastructure to use Informatica's market-leading connectivity and governance technologies. The Intelligent Data Management Cloud (IDMC) of Informatica has been connected by Oracle and Informatica with the Oracle Exadata Cloud Customer, Oracle Automated Database, Oracle Exadata Database Service,  and Oracle Object Storage.
  • In April 2022, Snowflake and Informatica announced a strengthened partnership. To speed up clients' migration to the internet with expanded data management and information governance capabilities, the organizations want to integrate further the Data Cloud and Informatica's Intelligent Data Management Cloud (IDMC).
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component, Deployment Mode, Organization Size, and Verticals

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is the incremental growth of the data-centric security market during the forecast period?

The incremental growth of the data-centric security market is $12007.53 during 2022 to 2028 with a CAGR of 24.2%.

What is the estimated global market size for the data-centric security market in 2021?

The estimated market size for the data-centric security market was US$ 3,752.84 million in 2021.

What are the driving factors impacting the global data-centric security market?

Growing emphasis on data-centric security model by enterprises and standardization of data protection rules are the key factors driving the data-centric security market over the forecast period.

What will be the global market size for data-centric security market by 2028?

The global market size for data-centric security market will be US$ 16,518.13 million in 2028.

Which are the key players holding the major market share of data-centric security market?

The key companies operating in the data-centric security market that are profiled in the report include Informatica; NetApp; IBM; Broadcom Corporation; Microfocus; Varonis Systems; Talend; Orange Cyberdefense; Forcepoint; and Imperva.

Which is the leading verticals segment in the data-centric security market?

IT and Telecommunication segment is holding larger market share during the forecast period.

Which is the fastest growing regional market?

Asia Pacific region is the fastest growing regional data-centric security market.

What is the future trend of the data-centric security market?

Incorporation of Artificial Intelligence (AI) and Multi-Cloud Strategy are the key trending factors driving the market growth.

The List of Companies - Data-Centric Security Market

  1. Informatica
  2. NetApp
  3. IBM
  4. Broadcom Corporation
  5. Microfocus
  6. Varonis Systems
  7. Talend
  8. Orange Cyberdefense
  9. Forcepoint
  10. Imperva

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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