MarketsandMarkets forecasts the data-centric security market size to grow from USD 3.5 billion in 2020 to USD 9.8 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 23.1% from 2020 to 2026. Increasing demand for data-centric security solutions for cloud-based data security, stringent compliances and regulations, increasing risk on enterprise data due to exploitation of big data analytics, machine learning, and artificial intelligence to boost the growth of data-centric security market across the globe during the forecast period.
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Data-centric security provides numerous benefits, such as maintaining data integrity and privacy, securing data transmissions, ensuring compliance, and protecting unauthorized access. Additionally, stringent regulatory compliances, such as the Health Insurance Portability and Accountability Act (HIPAA), Federal Information Processing Standards (FIPS), and Payment Card Industry Data Security Standard (PCI DSS), are encouraging enterprises to adopt data-centric security solutions and services to attain complete security of data. Furthermore, the growing trends of Bring Your Own Device (BYOD) and cloud adoption are also making enterprise data susceptible to attacks, as employees are able to access their data from remote locations on multiple devices. Due to these benefits, established players in the developed nations are seeking expansion opportunities in the developing regions by spreading awareness about data-centric security.
MarketsandMarkets has segmented the global data-centric security market into components (software and solutions, and professional services), organization size, deployment mode, verticals, and regions. The software and solutions segment is further categorized into data discovery and classification, data protection, data governance and compliance and other software and solutions. By deployment mode, the market is segmented into on-premises and on-cloud deployments. By organization size, the report covers large enterprises and small and medium enterprises (SMEs). The report also focuses on verticals of the data-centric security market, which includes banking, financial services, and insurance (BFSI), government and defense, healthcare and pharmaceuticals, telecommunications, IT and enterprises, retail, and other verticals. The other verticals include energy, media, gaming and gambling, manufacturing, and education. This market study has been further segmented based on regions into North America, Europe, APAC, MEA, and Latin America.
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The data-centric security market includes major vendors, such as Informatica(US), IBM(US), Broadcom (US), Microfocus (US), Varonis System (US), Talend (US), Orange Cyberdefense(France), Forcepoint (US), Imperva (US), NetApp (US), Infogix(US), PKWARE(US), Seclore(US), Fasoo (South Korea), Protegrity (US), Egnyte (US), Netwrix (US), Digital Guardian (US), Help Systems (US), BigID(US), Securiti (US), Secupi (US), Concentric.AI (US), Lepide (US), NextLabs (US), SealPath (Spain), Nucleus Cyber (US), Dathena(Singapore). These players have adopted different growth strategies to expand their global presence and increase their market shares. New product launches, partnerships, and acquisitions are some of the important strategies adopted by the major players to grow further in the data-centric security market.
Informatica is one of the leading providers of software and a broad range of infrastructure, hosting, cloud, and consulting services education, manufacturing, life sciences, government, healthcare, and retail, among other verticals. The company specializes in offering data integration software and services. It also provides infrastructure software, such as data integration, Business-to-Business (B2B) data exchange, complex event processing, data security, cloud computing, application information life cycle management, data quality, and other related services.
Informatica is focused on increasing investments and expanding its data management solutions as a part of its growth strategy. The company also emphasizes expanding its presence to expand its customer base, grow revenue and profitability, and increase stockholder value. To achieve this aim, in November 2020, the company announced investments in APAC to expand its customer base in the region. The company is also focusing on extending its cloud and AI capabilities through its partner network in the IT industry.
IBM operates through various segments, such as cognitive solutions, global business services, technology services and cloud platforms, systems, and global financing. IBM’s main activity is to find solutions for its wide range of clients that make use of advanced technologies. Its clients comprise individual users, specialized businesses, and institutions, such as government, IT, defense, and educational organizations. The company offers solutions to various verticals, such as IT, healthcare, life sciences, government, telecom, automobile, manufacturing, Fast-Moving Consumer Goods (FMCG), chemicals and petroleum, electronics, energy and power, media and entertainment, mining, retail, BFSI, travel and transportation, and education. The company is present in North America, Europe, APAC, the MEA, and Latin America.
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