Data Centric Security Market Observe Significant Growth with a CAGR of 30.6% by 2030

The global data-centric security market has grown due to increased digitization, data production, & heightened privacy and security concerns since COVID-19.

PORTLAND, OR, UNITED STATES, September 27, 2024 /EINPresswire.com/ — As per the report published by Allied Market Research, the global data centric security market size 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 and digital data production and increase in data privacy and security concerns with the Covid-19 pandemic has boosted the growth of the global data centric security market. However, high implementation costs and demands and less enthusiasm for data-centric security approaches in mainstream applications hinder market growth. On the contrary, an increase in security concerns and cyber-attacks, and growth in cloud and digital media trends are expected to open new opportunities for the market players in the future.

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Data centric security prioritizes securing data where it is stored and processed, instead of focusing on security controls for hardware and network infrastructure. Data centric models take a zero trust approach by applying the principle of least privilege to determine user access. Zero trust reduces cyber risk, as the user requests privileged access only when needed. Data centric security solutions help organizations in protecting most focused sensitive data instead of protecting IT infrastructure, which includes less important data.

Covid-19 scenario:

1. 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.

2. The global adoption of work-from-home culture and greater digital data creation increased the demand for data-centric security measures.

3. The report divides the global data-centric security market based on component, deployment mode, organization size, verticals, and region.

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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.

Based on 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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