Data-Centric Security Market Size Report & Forecast 2028

[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

Market Size Value in	US$ 4,510.6 Million in 2022
Market Size Value by	US$ 16,518.1 Million by 2028
Growth rate	CAGR of 24.2% from 2022 to 2028
Forecast Period	2022-2028
Base Year	2022

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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:

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).