Data-Centric Security Market Size By Component (Software & Solutions, Professional Services), By Vertical (BFSI (Banking, Financial Services, and Insurance), Government & Defense, Healthcare & Pharmaceuticals, IT & Enterprises, Telecommunication, Retail), By Deployment Mode (On-Premise, Cloud-Based), By Region 2024-2031

Data-Centric Security Market Valuation – 2024-2031

The data-centric security market is witnessing significant growth fueled by the adoption of advanced technologies to meet evolving standards in data protection, privacy, and regulatory compliance across various sectors including finance, healthcare, and government. With applications ranging from encryption and secure access management to compliance monitoring and threat detection, data-centric security solutions play a crucial role in addressing diverse operational needs. Valued at USD 6.76 billion in 2024, the market is projected to reach approximately USD 34.18 billion by 2031, underscoring its robust growth trajectory.

The demand for robust data protection and compliance solutions is driving advancements in data-centric security technologies and system integration. These innovations enable seamless integration with automated and intelligent systems such as real-time threat analysis and adaptive access controls thereby enhancing operational resilience and ensuring regulatory adherence. This integration is poised to bolster market growth with the data-centric security market expected to achieve a compound annual growth rate (CAGR) of 22.45% from 2024 to 2031.

Data-Centric Security – Definition/ Overview

Data-centric security focuses on protecting sensitive data by ensuring privacy, regulatory compliance, and secure access management via encryption, threat detection, and compliance monitoring technologies which are critical in industries such as finance, healthcare, and government to mitigate risks and ensure data integrity.

Data-centric security applications include protecting sensitive information in the banking, healthcare, and government sectors via encryption, threat detection, and compliance monitoring. It ensures data privacy, regulatory compliance, and secure access management all of which are crucial for protecting against cyber threats and maintaining data integrity.

Future components of data-centric security will include advances in AI integration, greater data analytics capabilities, and improved threat detection technologies. These developments aim to improve real-time threat assessment, adaptive access controls, and regulatory compliance thereby promoting robust cybersecurity across changing digital landscapes.

How Growing Data Breaches and Cyber Threats Drive the Data-Centric Security Market?

Growing data breaches and escalating cyber threats are key factors in the data-centric security market. Organisations confront sophisticated threats and tight laws driving up need for robust solutions such as encryption and threat detection to protect sensitive information across industries.

Data breaches underscore the importance of proactive security systems that detect and mitigate threats effectively. Data-centric security solutions such as encryption and access control are fundamentally designed to safeguard data while also assuring privacy and compliance. This method reduces the risk of breaches improves cybersecurity resilience, and protects organisational assets.

As cyber threats evolve, data-centric security responds with AI analytics, enhanced encryption, and threat intelligence. These advances enable organisations to respond swiftly to emerging threats, strengthen breach defences, and ensure sensitive data is continuously protected. The market for data-centric security solutions is poised for substantial growth as organizations prioritize robust data protection strategies.

Will Cost of Implementation Hamper the Data-Centric Security Market?

The cost of implementation may present initial obstacles for the data-centric security sector. High initial costs for security technology such as encryption and compliance tools might discourage adoption especially among smaller businesses with limited budgets and resources.

However, as technology advances and economies of scale emerge, implementation costs are gradually falling. Cloud-based solutions and scalable security frameworks provide more cost-effective alternatives. These advancements make data-centric security solutions more accessible to a wider variety of organisations lowering initial price hurdles.

Furthermore, the long-term benefits of strong data security such as regulatory compliance, lower breach risks, and increased consumer trust frequently justify the initial expenditure. As organizations recognize the critical importance of safeguarding sensitive data and managing cyber risks, the market for data-centric security solutions is expected to overcome cost challenges and continue its growth trajectory.

Category-Wise Acumens

Will Directly Securing Data Through Encryption Drive the Component Segment?

Software and solutions dominate the market. Data-centric security solutions component sector is driven by directly securing data through encryption. Encryption protects data security and integrity by encoding information in an unreadable format that requires decryption keys to access. This vital protection protects sensitive data in businesses such as finance, healthcare, and government.

Encryption components include security modules and software such as algorithms and key management systems. These technologies provide safe data transmission and storage which is critical for complying with data protection rules like GDPR and HIPAA.

As cyber dangers expand, encryption’s function in data protection fuels continued growth in the component industry. Organisations prioritise improving data protection methods with advanced encryption technology anticipating ongoing regulatory mandates and the necessity for strong cybersecurity measures.

Will Handling Highly Sensitive Financial Data Drive the Vertical Segment?

BFSI dominate the market. Handling highly sensitive financial data and being a primary target for cyber threats drive the application segment of data-centric security solutions. Industries like BFSI prioritize robust security applications to protect against financial fraud, data breaches, and regulatory non-compliance ensuring data integrity and customer trust.

Applications in BFSI encompass data encryption, secure payment processing, and fraud detection systems. These technologies safeguard financial transactions and sensitive customer information mitigating risks associated with cyber threats and regulatory scrutiny. The sector’s stringent security requirements continually propel innovation in data-centric security applications enhancing resilience against evolving cyber threats.

Moreover, the BFSI sector’s reliance on advanced security applications extends to identity and access management (IAM) solutions ensuring authorized access to sensitive financial data. IAM frameworks bolster security by implementing multi-factor authentication and access controls, crucial for maintaining data confidentiality and regulatory compliance. As cyber threats evolve, the BFSI application segment remains pivotal in driving advancements in data-centric security solutions, safeguarding critical financial infrastructure and customer trust.

Gain access into Data-Centric Security Market Report Methodology

Country/Region Wise Acumens

How Large Financial Sector Drive the Data-Centric Security Market in North America Region?

North America dominates the data-centric security market. The financial sector in North America drives the data-centric security business by processing massive amounts of sensitive data. Banks, investment businesses, and insurance organisations all demand advanced security solutions to protect consumer data, regulatory compliance, and financial transactions.

The growing number of cyber threats aimed at financial institutions increases the need for strong data-centric security solutions. With high-profile hacks generating news, businesses are investing extensively in encryption, access control, and data masking technology to protect their assets and keep customers trusting.

Furthermore, legislative frameworks such as GDPR and the CCPA require financial firms to improve their data protection processes. Compliance with these requirements mandates the use of advanced security solutions which drives the region’s data-centric security market.

Will Rapid Digital Transformation Boost the Data-Centric Security Market in Asia-Pacific?

The Asia-Pacific region is the fastest-growing region in the data-centric security market. As more enterprises utilise cloud services and digital platforms, Asia-Pacific’s rapid digital transformation will increase the data-centric security industry. This trend increases the necessity for comprehensive security solutions that safeguard sensitive data from cyber threats and breaches.

As firms digitise their processes, the amount of data generated and stored increases exponentially. Ensuring data security becomes crucial pushing investments in advanced encryption, access control, and data masking technologies to protect information and retain confidence.

Furthermore, governments in Asia-Pacific are enforcing stronger data protection requirements. Compliance with these regulations necessitates increased security measures which fuels the growth of the data-centric security industry as organisations strive to meet legal obligations while avoiding penalties.

Competitive Landscape

The Data-Centric Security Market is a dynamic and competitive industry, marked by a diverse array of players striving to capture market share. These companies are actively engaged in efforts to solidify their presence by implementing strategic initiatives such as collaborations, mergers, acquisitions, and garnering political support. With a focus on innovation, these organizations are continuously enhancing their product offerings to meet the diverse needs of consumers across various regions.

Some prominent players in data-centric security market include

• Broadcom
• Forcepoint
• Imperva
• IBM
• Informatica
• Micro Focus International PLC
• NetApp
• NextLabs
• Netwrix
• Orange Cyberdefense

Latest Developments

• In April 2024, Israel Aerospace Industries (IAI) and Aerotor Unmanned Systems signed a Memorandum of Understanding (MoU) to collaborate on improving unmanned aircraft system technologies. IAI will use its expertise in aviation and unmanned platforms, while Aerotor will incorporate its Apus multicopter, which has a core heavy-fuel propulsion system and a variable pitch mechanism. This combination enhances the Apus with increased payload capacity, endurance, and agility.

Report Scope

Data-Centric Security Market, By Category

Component

• Software & Solutions
• Professional Services

Vertical

• BFSI (Banking, Financial Services, and Insurance)
• Government & Defense
• Healthcare & Pharmaceuticals
• IT & Enterprises
• Telecommunication
• Retail

Deployment

• On-Premises
• Cloud-Based

Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

• In case of any please connect with our sales team, who will ensure that your requirements are met.