The data-centric security market size is projected to reach US$ 31.77 billion by 2031 from US$ 5.60 billion in 2023. The market is expected to register a CAGR of 24.2% during 2023–2031. The rise in government initiatives to protect consumer data, are likely to remain key trends in the market.
In recent years, the market for data-centric security has grown and transformed significantly. Protecting sensitive data from cyber threats and illegal access has become a primary responsibility as firms create and keep more of it.
Data-centric security prioritizes data protection above perimeter-based defenses. This approach understands that data is the most precious asset and should always be safeguarded, regardless of where it is or how it is accessed. Hackers, hostile insiders, and other cybercriminals pose continual dangers to organizations, attempting to exploit weaknesses and obtain unauthorized access to important information. This has resulted in a greater demand for sophisticated security solutions that can protect data throughout its lifespan. Encryption is critical for data security because it ensures that unauthorized people cannot read it even if it is intercepted or stolen. Access controls, authentication techniques, and identity management systems enable to enforce stringent permissions and limits, enabling only authorized users to access and edit data.
Furthermore, data-centric security employs techniques like data masking, tokenization, and anonymization, which serve to reduce the exposure of sensitive information by replacing it with fictitious or non-sensitive data. Data loss prevention (DLP) systems may also help avoid accidental or purposeful data breaches by monitoring and managing data flows inside an organization. The data-centric security market includes a variety of vendors and service providers who offer a wide range of solutions to meet the unique demands of enterprises. As enterprises increasingly rely on these technologies to store and analyze huge volumes of data, security has become critical.
The growing awareness of insider threats is a significant factor driving the growth of the data-centric security industry. Organizations understand the possible dangers posed by workers, contractors, or partners who have authorized access to sensitive data. This awareness has raised the demand for data-centric security solutions that successfully reduce insider risks and protect sensitive information. Insider risks can come from a variety of sources, including personnel with malevolent intent, inadvertent errors or neglect, and hacked user accounts. Data breaches, intellectual property theft, financial losses, and reputational harm are all potential outcomes of such attacks. As a result, companies are taking proactive steps to address the issue and safeguard their important data assets. Data-centric security solutions offer a wide variety of features to combat insider threats.
Enterprises realize the importance of having access to their consumers' personal information. This data enables them to establish more personal relationships with their customers, leveraging what they know about them to provide personalized experiences and suggestions. The internet has acted as a catalyst, allowing connected customers to benefit from today's most transformative advances in areas such as entertainment, education, information, social sharing, and commerce. Data-centric solutions give complete insight into current user entitlements throughout the whole data estate, allowing users to easily review and successfully simplify privileged user policies, as many applications require. The system also uses vulnerability assessment to build a personal data and PII risk profile, as well as continuous scanning to ensure correct settings and up-to-date CVE patches.
Key segments that contributed to the derivation of the data-centric security market analysis are component, deployment mode, organization size, and verticals.
The geographic scope of the data-centric security market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America dominated the data-centric security market in 2023. 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.
The regional trends and factors influencing the Data-Centric Security Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Data-Centric Security Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 5.60 Billion |
| Market Size by 2031 | US$ 31.77 Billion |
| Global CAGR (2023 - 2031) | 24.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Data-Centric Security Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Data-Centric Security Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The data-centric security market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Data-Centric Security market are listed below:
The “Data-Centric Security Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The market is expected to grow at a CAGR of 24.2% over the forecast period.
The estimated value of the data-centric security market is expected to reach US$ 310.49 billion by 2031.
IBM Corporation, Broadcom Inc., Informatica, Micro Focus International plc, and NetApp, Inc. are among the leading data-centric security market.
The rise in government initiatives to protect consumer data, are likely to remain key trends in the market.
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.
North America dominated the data-centric security market in 2023.