Data-Centric Security Market by Component (Solutions (Data Protection, Data Governance, Data Auditing) and Services (Professional and Managed)), Organization Size, Deployment Type, Vertical, and Region - Global Forecast to 2022
Exploitation of trending technologies to attack enterprise data is expected to drive the data-centric security market
The data-centric security market is expected to grow from USD 2.06 billion in 2017 to USD 5.83 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.1% during the forecast period. Major drivers of the data-centric security market are stringent compliance and regulations and impact of data security governance on enterprises. However, major hindrance faced by enterprises while adopting data-centric security solutions and services is the rising concerns pertaining to pirated and open-source data protection software.
The services segment is expected to grow at the highest CAGR during the forecast period
The services segment is expected to grow at the highest CAGR during the forecast period. The increasing need to successfully implement data-centric security solutions across enterprises is expected to spur the demand for specialized professionals. Therefore, the services segment is expected to grow at a higher rate in the data-centric security market.
Banking, Financial Services, and Insurance (BFSI) vertical is expected to hold the largest market size during the forecast period
BFSI companies are expanding their offerings to maintain a competitive edge, save costs, and improve the customer experience with value-added services. BFSI is one of the highly regulated verticals which are expected to witness a large-scale adoption of data-centric security solutions and services. data-centric security solutions and services focus on data integrity, data and risk analytics, compliance adherence, data availability, data quality, and data protection in the BFSI vertical.
North America is expected to hold the largest market share, whereas Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period
North America is the largest regional segment of the data-centric security market, due to the presence of a large number of players offering data-centric security solutions. The region is expected to hold the largest market size during the forecast period, as North American organizations are early adopters of data-centric security solutions and services. Furthermore, organizations have invested significantly in technologies pertaining to data-centric security to gain a competitive advantage and improve the business operations. The APAC region is in the initial growth phase. However, it is expected to be the fastest-growing region in the global data-centric security market. The increasing adoption of data-centric security solutions and services in this region is driven by a large number of Small and Medium-sized Enterprises (SMEs) focusing on data-centric security rather than the security of endpoints and networks. This is expected to have a positive impact on the APAC data-centric security market growth.
The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C-Level – 60%, D-Level – 25%, and Others – 15%
• By Region: North America – 35%, Europe – 25%, APAC – 20%, MEA – 10%, and Latin America – 10%
The following key data-centric security providers are profiled in the report:
1. IBM (US)
2. Imperva (US)
3. Informatica (US)
4. Oracle (US)
5. Varonis Systems (US)
6. AvePoint (US)
7. BlueTalon (US)
8. Dataguise (US)
9. Datiphy (US)
10. Micro Focus (UK)
11. NextLabs (US)
12. Protegrity (US)
The data-centric security market has been segmented on the basis of components (solutions and services), organization sizes, deployment types, verticals, and regions. A detailed analysis of major players in the market has been done to provide key insights into their business overviews, products offerings, key strategies, new product launches, partnerships, agreements and collaborations, business expansions, mergers and acquisitions, and competitive landscape associated with the data-centric security market.
The report will help the market leaders/new entrants in this market in the following ways:
• This report segments the data-centric security market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different regions.
• This report will help stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
• This report will help stakeholders better understand their competitors and gain more insights to enhance their position in the data-centric security market.