The market for data-centric security has grown significantly in recent years and is anticipated to grow further during the forecast period.
PORTLAND, PORTLAND, OR, UNITED STATE, April 17, 2023 /EINPresswire.com/ — As per the report published by Allied Market Research, the global data centric security market was accounted for $2.76 billion in 2020 and is estimated to reach $39.34 billion by 2030, growing at a CAGR of 30.6% from 2021 to 2030.
The rise in digitization trends, digital data production, and data privacy and security concerns with the Covid-19 pandemic has boosted the growth of the global data-centric security market.
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However, high implementation costs, demands, and less enthusiasm for data-centric security approaches in mainstream applications hinder market growth. On the contrary, an increase in security concerns, cyber-attacks, and growth in cloud and digital media trends are expected to open new opportunities for the market players.
Covid-19 scenario:
• The Covid-19 pandemic had a favorable impact on the industry due to a sudden increase in the use of digital platforms and a surge in cyber-attacks.
• The global adoption of work-from-home culture and greater digital data creation increased the demand for data-centric security measures.
The report divides the global data centric security market on the basis of component, deployment mode, organization size, verticals, and region.
Based on components, the software and solutions segment held the largest share in 2020, accounting for nearly three-fourths of the market. However, the professional services segment is projected to manifest the highest CAGR of 31.8% during the forecast period.
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On the basis of deployment mode, the on-premise segment held the lion’s share in 2020, contributing to nearly two-thirds of the market. However, the cloud segment is estimated to portray the highest CAGR of 31.9% from 2021 to 2030.
The global data centric security industry is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for nearly two-fifths of the market. However, the Asia-Pacific region is anticipated to showcase the highest CAGR of 33.2% during the forecast period.
The global data centric security market includes an in-depth analysis of the prime market players such as Informatica, IBM, Broadcom, Micro Focus, Varonis Systems, Talend, Orange Cyberdefense, Forcepoint, Imperva, and Netapp.
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Key Benefits For Stakeholders:
• The study provides an in-depth analysis of the data centric security market trends along with current trends and future estimations to elucidate imminent investment pockets.
• Information about key drivers, restraints, and opportunities and their impact analysis on the data centric security market size is provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the data centric security industry.
• The quantitative analysis of data centric security market growth for the period 2020-2030 is provided to determine the market potential.
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