The term "data-centric security" refers to an organization's approach to system and data protection. Data-centric security places an emphasis on locating, organizing, and protecting the data rather than the hardware or software that handles, stores, or uses the data. Organizations can use data-centric security solutions to secure their most important and sensitive data, no matter where it is housed. Data-centric security solutions are designed to address issues resulting from the increasing amount, diversity, and velocity of data. As long as only authorized individuals are able to access the data, these solutions can help organizations protect their data from loss, leakage, and illegal access.
According to SPER market research, ‘Data Centric Security Market Size- By Component, By Deployment Mode, By Organization Size, By Vertical- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Data Centric Market is predicted to reach 75.18 billion by 2033 with a CAGR of 16.19%.
Government compliances and legislation, the need to identify, classify, secure, and monitor the most sensitive data across its entire lifespan, and an increase in data breach incidences are driving forces behind the global market expansion. Due to benefits like data privacy, compliance, handling numerous processes including data discovery, categorization, and safety, data management, data privacy & security, and application security, data-centric security is becoming more and more popular than traditional security models. As a result, the market for data-centric security has seen significant expansion. The market is mainly driven by strict regulations and compliance, growing risks to company information due to the use of technologies like big data analytics, artificial intelligence (AI), and machine learning (ML), and growing demand for technology to safeguard cloud data.
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Organizational ignorance on the significance of data-centric security strategies is one of the main issues facing the data-centric security industry. Perimeter-based security methods, which prioritize safeguarding network perimeters over data protection, are still widely used by many organizations. It is essential to educate enterprises about the value of data-centric security and the possible dangers of data breaches. Effective marketing and awareness initiatives that emphasize the significance of implementing data-centric security measures to protect sensitive data throughout its lifespan are necessary to overcome this obstacle. Implementing data-centric security solutions can be expensive, especially for big businesses with substantial data infrastructure. Someone could be unable to adopt because of this cost.
Impact of COVID-19 on Global Data Centric Security Market:
The COVID-19 pandemic has altered how people function remotely and use digital technology. For the first time, millions of workers are able to work from home. As a result, businesses must move their assets to cloud-based and digital platforms and implement the necessary security precautions, such as network and perimeter protection. In reaction to the pandemic's spike in data breaches, businesses increased security spending and implemented data-centric solutions. COVID-19 is therefore advantageous to the market. In the near future, this is anticipated to indirectly drive the global market.
Data Centric Security Market Key Players:
Geographically, North America is anticipated to dominate the data-centric security market. Data-centric security is now required due to North America's dynamic and complex cyber threat landscape. It is anticipated that the expansion will be aided by the presence of numerous businesses in North America, including Microsoft, IBM, McAfee, and others. Furthermore, strict laws like the California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR) have increased demand for advanced cybersecurity solutions by preventing unfavourable legal and financial repercussions. Along with other well-known businesses, notable rivals in the industry include Broadcom Inc., Dathena Inc., Egnyte Inc., Fasoo Inc., Forcepoint Inc., HelpSystem Inc., and others.
Global Data Centric Security Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecast for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts
By Component: Based on the Component, Global Data Centric Security Market is segmented as; Professional Services, Software, Solutions.
By Deployment Mode: Based on the Deployment Mode, Global Data Centric Security Market is segmented as; Cloud, On-premise.
By Organization Size: Based on the Organization Size, Global Data Centric Security Market is segmented as; Large Enterprises, SMEs.
By Vertical: Based on the Vertical, Global Data Centric Security Market is segmented as; BFSI, Government & Defense, Healthcare & Pharmaceuticals, IT & Enterprises, Retail & Consumer Goods, Telecommunication, Others.
By Region: This research also includes data for Asia-Pacific, Europe, the Middle East and Africa, North America, and Latin America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Data Centric Security Market Forecast
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