Data-Centric Security Business Research Report 2024: Rising Global Data Breaches Propel the Adoption of Data-Centric Security Solutions - Global Forecast to 2030 - ResearchAndMarkets.com

The "Data-Centric Security - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.

The global market for Data-Centric Security was estimated at US$9.5 Billion in 2023 and is projected to reach US$32.3 Billion by 2030, growing at a CAGR of 19.1% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Data-centric security is particularly critical in sectors such as finance, healthcare, and any organization handling large volumes of sensitive data, where the repercussions of data breaches can be catastrophic not just financially but also in terms of privacy violations and reputational damage.

The growth in the data-centric security market is driven by several factors, starting with the exponential increase in data generation and the expansion of digital transformation initiatives across industries. As businesses become more data-driven, the importance of ensuring the confidentiality, integrity, and availability of data escalates. The rising number of high-profile data breaches and cyberattacks also compels organizations to prioritize data security to safeguard against potential financial and reputational damages.

Furthermore, the tightening of data protection laws globally is pushing companies to adopt more stringent security measures to comply with legal standards and avoid hefty fines. Technological advancements that facilitate more sophisticated and integrated security solutions are enabling organizations to deploy data-centric security strategies more effectively. Additionally, growing awareness of the risks associated with inadequate data protection in an increasingly interconnected world drives demand for robust security solutions, ensuring continued investment and innovation in the data-centric security market.

How Are Organizations Implementing Data-Centric Security Measures?

Implementing data-centric security involves several key strategies that collectively protect data across different environments. Encryption is one of the most common tools, ensuring that data is unreadable to unauthorized users even if they bypass other security measures. Access control mechanisms are also crucial, as they ensure only authorized personnel can access sensitive information based on their roles.

For data-centric security to be effective, these controls must be applied consistently across all platforms where the data might reside, from on-premises servers to cloud-based services. Additionally, organizations are increasingly utilizing advanced monitoring tools that track how data is accessed and used across different systems, helping to detect and respond to abnormal activities that could indicate a security breach.

What Challenges Do Organizations Face With Data-Centric Security?

One of the primary challenges in implementing data-centric security is ensuring the scalability and manageability of security measures as data volumes and types expand. As organizations continue to integrate more IoT devices and incorporate more cloud services, the complexity of securing data across disparate systems grows. There's also the ongoing need to balance data protection with accessibility; overly stringent security measures can impede legitimate data access and business agility.

Compliance with a growing landscape of international data protection regulations, such as GDPR or CCPA, adds another layer of complexity, requiring not just protection but also careful documentation of data handling practices. The integration of data-centric security measures into existing IT infrastructures can be challenging as well, often requiring significant adjustments to legacy systems.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Data-Centric Security Solutions segment, which is expected to reach US$16.7 Billion by 2030 with a CAGR of a 16.8%. The Data-Centric Security Services segment is also set to grow at 22.1% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, which was estimated at $2.7 Billion in 2023, and China, forecasted to grow at an impressive 18.7% CAGR to reach $5.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as AvePoint, Inc., BlueTalon, Inc., Dataguise, Inc., and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Attributes:

Key Topics Covered:

MARKET OVERVIEW

• Influencer Market Insights
• Data-Centric Security - Global Key Competitors Percentage Market Share in 2024 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
• Global Economic Update

MARKET TRENDS & DRIVERS

• Rising Global Data Breaches Propel the Adoption of Data-Centric Security Solutions
• Increasing Need for Security in Cloud Environments Bolsters Data-Centric Security Measures
• Expansion of IoT and Connected Devices Spurs Need for Robust Data Security Solutions
• Shift Towards Remote Work Models Strengthens the Case for Data-Centric Security
• Technological Innovations in Encryption and Tokenization Propel Data Security Enhancements
• Rising Adoption of Blockchain for Secure Data Transactions Bolsters Data-Centric Security
• Expansion of Digital Healthcare and Need for Patient Data Protection Spur Market Growth
• Growing Financial Services Sector Enhances Demand for Data-Centric Security to Protect Sensitive Information
• Technological Advancements in Data Masking Solutions Propel Their Adoption
• Adoption of Data-Centric Security in Retail to Protect Customer Data and Maintain Trust
• Increasing Use of Multi-Factor Authentication as Part of Data-Centric Security Measures
• Rising Need for Data-Centric Security in Smart City Projects Enhances Market Opportunities

FOCUS ON SELECT PLAYERS (Total 44 Featured)

• AvePoint, Inc.
• BlueTalon, Inc.
• Dataguise, Inc.
• Datiphy Inc.
• IBM Corporation
• Imperva, Inc.
• Informatica LLC
• Micro Focus International PLC
• NextLabs, Inc.
• Oracle Corporation
• Protegrity USA, Inc.
• Varonis Systems, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/xa1kor

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View source version on businesswire.com: https://www.businesswire.com/news/home/20240927566679/en/