- Data-centric security is about securing data where it is stored and handled, rather than focusing on security controls for servers, applications and network infrastructure. Data-centric security also helps organizations to overcome the disengagement between IT security technology and the business strategy objectives by connecting security services directly to the data they completely protect.
- Data-centric security helps organizations to cut down the inside threats, threats posed by hackers, and other malicious attacks. It continually observes the activity of confidential data. Data-centric models also take a zero-trust approach that reduces cyber risk as the user requests privileged access only when needed.
- Data-centric security provides many other benefits, such as securing data transmissions, maintaining data integrity and privacy, ensuring compliance, and protecting unauthorized access.
Global Data-centric Security Market: Dynamics
Global Data-centric Security Market: Key Drivers
- Growing demand for data-centric security solutions for cloud-based data security and increasing risks faced by enterprise data due to misuse of big data analytics, artificial intelligence, and machine learning is estimated to drive the data-centric security market during the forecast period.
- Stringent regulations such as the federal information processing standards, and payment card industry data security standards are encouraging enterprises to implement data-centric security, which is estimated to boost the data-centric security market during the forecast period.
- The increasing cyber-attacks during the pandemic is a major factor making data-centric security a priority today, and likely to propel the growth of the market in the next few years.
- Rising data breach cases are expected to create opportunities for the data-centric security market during the forecast period.
- However, financial concerns of organizations, and lack of awareness about data-centric security solutions is anticipated to hamper the market during the forecast period.
Impact of COVID-19 on the Global Data-centric Security Market
- The COVID-19 pandemic has changed remote working principles and use of digital technology. Millions of employees are working from home for the first time and this remote working makes it essential for organizations to shift their assets on to the cloud and digital platforms, while taking proper security measures such as perimeter security, and network security. The number of data breaches is increasing during the pandemic and thus organizations improved their security investments and adopted data-centric solutions to protect the data. Hence, COVID-19 has a positive impact on the data-centric security market. This is projected to indirectly propel the global data-centric security market in the near future.
Asia Pacific to Hold Major Share of the Global Data-centric Security Market
- In terms of region, the global data-centric security market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- The Asia Pacific region dominated the global data-centric security market with the largest share due to the rapid adoption of encryption technologies and superior data-centric security solutions by emerging economies such as India, China, Japan, Singapore, and Australia. SMEs and businesses in the Asia Pacific region are extensively adopting data-centric security solutions to protect crucial and sensitive business data from cyber threats, commercial espionage, and misuse of data.
- The data-centric security market in North America is projected to expand at a rapid pace during the forecast period. This can be attributed to the presence of majority of the market players and the growing need to ensure data security, superiority, and lineage across businesses.
Global Data-centric Security Market: Competition Landscape
Several local, regional, and global players are active in the data-centric security market with a strong presence. Rapid technological advancements have created significant opportunities in the market. Players in the market are continuously focusing on developing technology advanced solutions for their customers.
Key Players Operating in the Global Data-centric Security Market Include:
- NextLabs Inc.
- Orange Cyberdefense
- Varonis Systems
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