The global data-centric security market size is expected to grow from an estimated value of USD 3.5 billion in 2020 to USD 9.8 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 23.1%

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New York, April 28, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Data-centric Security Market by Component, Deployment Mode, Organization Size, Vertical, Region – Global Forecast to 2026” – https://www.reportlinker.com/p05246306/?utm_source=GNW
However, organization’s tolerance for inconvenience and security breaches due to internal vulnerabilities can hinder the growth.

Software and Solutions segment to grow at a higher CAGR during the forecast period
With the voluminous explosion of sensitive data in the cloud and mobile environments, data lakes, and other big data repositories, enforcing data security has become the top priority for both the governments and businesses worldwide.Data-centric security software and solutions audit and protect the data at rest, data in motion, and data in use through various standards and protocols.

Therefore, to reduce the risk posed by hackers, insider threats, and other malicious attacks, and constantly monitor the activity of sensitive data, enterprises must utilize software and solutions.The solutions protect mission-critical data in disparate silos, such as databases, files, and the cloud.

Furthermore, the legislation in many countries has set new standards for protecting customer information.There are standards for the security of medical records, such as HIPAA, and standards for the financial industry, such as PCI-DSS, regarding the privacy and security of customers’ personal financial information.

A few capabilities that data-centric security software and solution must include data classification and discovery, data protection, and data governance, and compliance.

On premise segment to account for a higher market share during the forecast period
The on-premises deployment type provides organizations with full control over all the platforms, applications, systems, and data, which can be handled and managed by their own IT staff.The on-premises deployment type is the traditional approach to implement data-centric security software and solutions across enterprises.

An organization where the user credentials are critical for business operations would prefer the on-premises deployment, as the systems are controlled by the organization. The government and defense and BFSI verticals prefer on-premises security because they cannot afford to lose their sensitive data, financial records, accounting information, and data pertaining to financial transactions.

Asia Pacific to grow at the highest rate during the forecast period
APAC has specifically been one of the fastest-growing markets in terms of mobile workforce expansion, propagated with the rising adoption of mobile devices in this region.Enterprises and SMEs in the APAC countries are admitting the significance of data-centric security and are receptive to adopting dedicated data-centric security solutions to protect their critical and sensitive business data from commercial espionage, cyber threats, and misuse of data for monetary gains of the computer hackers.

APAC countries such as Australia, China, and Japan have widely adopted encryption technologies to protect data from being stolen. The popular APAC countries, such as Singapore and India, are now gradually advancing toward adopting superior data-centric security solutions.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the data-centric security market.
• By company type: Tier 1: 20%, Tier 2: 57%, and Tier 3: 33%
• By designation: C-level: 40%, Manager and Other: 60%
• By region: North America: 35%, Europe: 20%, APAC: 45%

Major vendors offering data-centric security market across the globe are 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).
The study includes an in-depth competitive analysis of the key players in the data-centric security market, with their company profiles, recent developments, and key market strategies.

Research coverage
The market study covers the data-centric security market size across segments.It aims at estimating the market size and growth potential of this market across different segments: by component, by deployment mode, by organization size, by vertical and by region.

The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying the report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall data-centric security market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05246306/?utm_source=GNW

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