Data-Centric Security Market Size & Trend Report 2028

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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 | No. of Pages: 198 | Category: Technology, Media and Telecommunications | Status: Published

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.

Data-centric security includes all technologies that focus on protecting the actual data an organization is entrusted with throughout its data lifecycle, rather than focusing primarily on infrastructure risks, approach, and policy. A data-centric security framework consists of multiple solution layers designed to understand, manage, and protect sensitive data, whether on-premises or in the cloud. Data-centric security model takes data security beyond the traditional infrastructure-focused data security measures that most organizations already have. In recent years, there has been an increasing reliance on digital and cloud computing trends and enterprises to cloud networks for various applications, from data storage and payments to enterprise-wide execution from cloud paths. The business operations are becoming more and more dependent. Hence, the growing reliance on the cloud in the business world led many small businesses to secure data stored/exchanged in the cloud. As a result, investment in data-centric security solutions and services is anticipated to increase in the coming years. Additionally, the rise of cyberattacks made data-centric security solutions essential for organizations to protect their mission-critical data. The global data-centric security market is growing as end-user concerns about data security grow.

Strategic Insights

Report Coverage - Data-Centric Security Market
Report CoverageDetails
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
No. of Pages198
No. of Tables115
No. of Charts & Figures90
Historical data availableYes
Segments coveredComponent, Deployment Mode, Organization Size, and Verticals
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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Impact of COVID-19 Pandemic on Asia-Pacific Data-Centric Security Market 

The APAC data-centric security market is anticipated to experience significant growth due to the rising trend of cyberattacks involving malware and ransomware in COVID-19-related context, forcing organizations to adopt cybersecurity solutions as many employees have switched to remote work environments amid lockdown in various countries. Based on the report by Microsoft, between February and May 2021, 19 million phishing and ransomware attacks with a COVID-19-related theme were detected in APAC. Furthermore, increased digital dependence resulting from lockdowns and quarantines has significantly raised cybersecurity and privacy risks in APAC. Based on the MIT technology review survey report, more than 70% of the 600 respondents said their companies have accelerated their digital transformation and increased their investment in cybersecurity during the pandemic. As so many individuals are working in new, less secure environments during the pandemic, the growing use of cloud-based services is becoming a hotspot for cyberattacks. According to Barracuda Sentinel, the number of email attacks linked to the COVID-19 pandemic has surged by 667%. Thus, the COVID-19 pandemic increased the adoption of cybersecurity solutions and positively influenced the data-centric security market.

Lucrative Regions for Data-Centric Security Market

Lucrative Regions for Data-Centric Security Market

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Market Insights – Data-Centric Security Market

Increase in Data and Bring Your Own Device (BYOD) Policies will provide Lucrative Growth Opportunities to Data-Centric Security Market

Most big data experts agree that the generated data will grow exponentially during the forecast period. Based on research from Seagate's Data Age 2025 report, the world's data sphere will reach 175 zettabytes by 2025. This growth is attributed to the enormous increase in people working, studying, and amusing themselves from home. Hence, securing these data will be the companies' primary objective, as data-driven business models will be widely adopted in the future. Hence, such a transition is anticipated to create lucrative opportunities for the data-centric-security vendors over the forecast period.

Furthermore, the IT infrastructure is anticipated to become more complicated and heterogeneous due to the introduction of new platforms, bring your own device (BYOD) regulations, choose your own device (CYOD) trends, business apps, and other technologies. The BYOD and CYOD trends are becoming more and more common in business settings due to the quick improvements in mobile computing. Through mobile devices, employees may access organizational data from anywhere, at any time, thanks to these developments, which also boost employee productivity to protect organizational data from potential hazards and maintain its confidentiality and integrity. Based on the Bitglass survey, 69% of respondents said their organizations allow employees to use personal devices for work while allowing contractors, partners, customers, and suppliers. However, several companies fail to maintain security due to the unsuccessful incorporation of new devices into the existing security infrastructure. Based on the report by Software Guild, 72% of organizations have no plans to secure BYOD devices. Hence, such factors will likely create mammoth opportunities for the data-centric- security market players.

Component - Based Data-Centric Security Market Insights

Data-Centric Security market analysis by component, the Data-Centric Security market is segmented into solution and service. The solution segment accounted for a larger Data-Centric Security Market share in 2021. Data-centric security solutions provide a comprehensive way to protect the company's data compliance and privacy. These solutions apply to data at rest, in transit, and use and involve multiple processes. Data-centric software is more concerned with privacy and security than network, endpoint, and application security. Additionally, the rise of cyberattacks has made data-centric security solutions essential for organizations to protect their mission-critical data. Due to this, several industry players have jumped into the market with customized and AI-integrated solutions. For instance, Informatica offers an AI-driven Data Privacy protection solution that allows organizations to improve their data risk exposure posture to help reduce the impact of data security breaches and internal misuse and meet the stringent requirements of regional and industry privacy. The growing end-user concerns about data security are anticipated to propel Data-Centric Security Market growth.

Organization Size - Based Data-Centric Security Market Insights

Data-Centric Security market analysis by organization size, the Data-Centric Security market is segmented into small and medium enterprises (SMEs) and large enterprises. The large enterprise segment accounted for the largest Data-Centric Security market share in 2021. Organizations with an employee strength of more than 500 are categorized as large enterprises. Large enterprises have their clients across various geographical regions and account for high market shares, technical capabilities, and effective business strategies. These large enterprises are known to invest in innovative technologies to operate their business effectively. With the growing capabilities of data-centric security solutions across various industries, adopting these tools has gained traction over the past few years. Large enterprises utilize various analytical tools, such as data-centric security, to streamline their security effectively. Cyberattacks on large organizations using ransomware are becoming more regular and destructive. Hence, the large enterprise is expected to dominate the data-centric security market over the forecast period due to significant investment.

Players operating in the Data-Centric Security market mainly develop advanced and efficient products.

  • In 2022, NetApp announced the up-gradation of the NetApp ONTAP data management software. Additionally, NetApp unveiled the most recent NetApp SolidFire Enterprise SDS solution and a flexible NetApp Keystone Flex Subscription service. NetApp helps businesses worldwide use the greatest aspects of the cloud through these improvements. Businesses can employ hybrid cloud infrastructure as a service to improve performance and safety, reduce costs, and expand data management from on-premises to the cloud.
  • In 2021, IBM and Palantir Technologies partnered to deliver AI for businesses. With Palantir's next-generation operations platform for developing applications, the companies have joined to provide AI for enterprises. The device is anticipated to make it easier for companies to develop and deploy IBM Watson-enhanced apps while also assisting users in accessing, analyzing, and acting on the enormous volumes of data dispersed across hybrid cloud settings.

Company Profiles

  • IBM Corporation
  • Broadcom Inc.
  • Informatica
  • Micro Focus International plc
  • NetApp, Inc.
  • Imperva
  • Forcepoint
  • Orange Cyberdefense
  • Talend
  • Varonis Systems

Frequently Asked Questions

Incorporation of Artificial Intelligence (AI) and Multi-Cloud Strategy are the key trending factors driving the market growth.
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.
Asia Pacific region is the fastest growing regional data-centric security market.
IT and Telecommunication segment is holding larger market share during the forecast period.
The global market size for data-centric security market will be US$ 16,518.13 million in 2028.
The incremental growth of the data-centric security market is $12007.53 during 2022 to 2028 with a CAGR of 24.2%.
The estimated market size for the data-centric security market was US$ 3,752.84 million in 2021.
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.

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
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global data-centric security market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations such as specific regional and segmental insight highlights crucial progressive industry trends in the global data-centric security market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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