Data Centric Security Market Size, Share, Industry Trends and Forecast to 2030

Data Centric Security Market Size & CAGR in 2021

The global data centric security market is anticipated to witness a significant growth rate with a CAGR of 8.5% from 2021 to 2026. As a result, the market size is expected to reach USD 15.6 billion by the end of 2021.

COVID-19 Impact on the Data Centric Security Market

The outbreak of the COVID-19 pandemic has had a mixed impact on the data centric security market. While the increased adoption of remote work and digitalization has propelled the demand for data protection solutions, the economic uncertainties have caused delays in some security investment decisions.

Data Centric Security Dynamics

The data centric security market is driven by the growing concerns over data breaches, strict regulatory requirements for data protection, and the increasing adoption of cloud-based services. Organizations are increasingly focusing on securing their sensitive data at all levels to mitigate risks.

Segments and Related Analysis

The data centric security market can be segmented based on solutions, services, deployment models, organization size, and verticals. Solutions such as data encryption, tokenization, data masking, and data loss prevention are key segments driving market growth.

By Region Analysis

In terms of regional analysis, North America dominates the data centric security market due to the presence of key market players, stringent data protection regulations, and high awareness about data security. Europe and Asia Pacific are also witnessing significant growth in this market.

Key Market Players and Competitive Landscape

Major players in the data centric security market include IBM Corporation, Oracle Corporation, Symantec Corporation, McAfee, Inc., and Microsoft Corporation. These companies are focusing on strategic partnerships, product enhancements, and acquisitions to stay competitive in the market.

Recent Happenings in the Data Centric Security Market

In recent developments, IBM launched a new data centric security platform to help organizations protect their critical data assets. Oracle announced the acquisition of a data security company to strengthen its data protection capabilities. These initiatives reflect the growing importance of data security in today's digital landscape.