What Is The Future Growth Scenario Of The Data-Centric Security Market?
The data-centric security market size has been growing exponentially in recent years. From a worth of $8.19 billion in 2024, it’s expected to grow to $10.38 billion in 2025 at a compound annual growth rate (CAGR) of 26.8%. The growth in the historic period is due to data breach incidents, regulatory compliance, mobile device proliferation, and growing concern for data privacy.
Furthermore, the data-centric security market size is predicted to witness exponential growth with a projected size of $28.45 billion in 2029 at a CAGR of 28.7%. This growth can be attributed to accelerated adoption of zero trust architecture, focus on endpoint security, globalization of cybersecurity threats, evolution of privacy regulations, emphasis on automated response, and increasing data sharing concerns. The forecast period is also expected to witness data classification and discovery, cloud-native security solutions, data loss prevention (DLP) solutions, behavior analytics for threat detection, continuous monitoring and auditing, as well as machine learning and AI for threat intelligence as major trends within the industry.
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Which Factors Are Propelling The Data-Centric Security Market Growth?
Growing data breach incidents are a significant driver of the data-centric security market. Unpermitted access to sensitive information, either accidental or maliciously done, poses a significant risk to businesses and individuals alike. Data-centric security provides a solution by safeguarding organizational infrastructures, thereby preventing any potential loss of data. For instance, in 2023, the Identity Theft Resource Center (ITRC) reported 3,205 data breaches, affecting approximately 353,027,892 victims, which represents a 78% increase from 2022. This surge in data breaches underscores the critical importance of data-centric security, thereby propelling market growth.
How Is The Data-Centric Security Market Segmented?
The data-centric security market is segmented by:
1) Component: Software and Solutions, Data Discovery, Data Protection, Data Governance, Professional Services, Other Components
2) Deployment Mode: On-Premise, Cloud
3) Organization Size: Large, Medium, Small
4) Vertical: Banking, Financial Services and Insurance (BFSI), Government and Defense, Healthcare and Pharmaceuticals, Telecommunications, Information Technology (IT) and Enterprises, Retail, Other Verticals
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Who Are The Major Players In The Data-Centric Security Market?
Major companies operating in the data-centric security market are Broadcom Inc., Imperva Inc., Micro Focus International PLC, NetApp Inc., Orange Cyberdefense, The International Business Machines Corporation, Microsoft Corporation, Google LLC, Informatica, and Varonis Systems, among others.
What Key Trends Are Emerging In The Data-Centric Security Market?
Advancements in innovative technologies are a key trend adding momentum to the data-centric security market. Market frontrunners are developing cutting-edge tech to enhance data security across various industries. For instance, US-based technology company, Seclore, launched a data-centric security platform in June 2022. This platform helps organizations discover, classify, protect, and track enterprise data not just within but also outside the organization.
What Is The Regional Analysis Of The Data-Centric Security Market?
In 2024, North America held the largest share of the data-centric security market. However, Asia-Pacific is predicted to be the fastest-growing region during the forecast period. The regions covered in the data-centric security market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Data-Centric Security Market Report 2025 Offer?
Data-centric security is a technological solution that safeguards data from unauthorized access by automatically screening each time a file is added to or changed in network. It helps reduce cyber risk, secure data transmissions stored in organizations infrastructure, and ensures compliance across various industries. The Data-Centric Security Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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