Data-Centric Security Market Research Report and Outlook by 2028

The Data-Centric Security market is anticipated to grow significantly, reaching a valuation of US$ 16,518.1 million by 2028, up from US$ 4,510.6 million in 2022. This sector is expected to witness a compound annual growth rate (CAGR) of 24.2% during the period from 2022 to 2028.

Experts in big data agree that the volume of data generated will see a dramatic increase in the coming years. According to Seagate's Data Age 2025 report, the global data sphere is projected to balloon to 175 zettabytes by 2025. This surge is largely attributed to the growing number of individuals engaging in work, education, and entertainment from home. Consequently, as data-driven business models gain traction, organizations are compelled to prioritize data security. This shift is expected to open up substantial opportunities for security vendors specializing in data protection throughout the forecast period from 2022 to 2028.

Moreover, the complexity and diversity of IT infrastructure are set to escalate with the introduction of new platforms, Bring Your Own Device (BYOD) policies, Choose Your Own Device (CYOD) trends, business applications, and other technological advancements. The rapid evolution of mobile computing has made BYOD and CYOD increasingly common in corporate settings, allowing employees to access company data from virtually anywhere via their mobile devices, thus boosting productivity. However, to safeguard organizational data against potential threats and ensure its confidentiality and integrity, it is essential to implement strong security protocols. While many organizations allow personal devices for work purposes, including those of contractors, partners, customers, and suppliers, numerous companies face challenges in maintaining security due to the inadequate integration of new devices into their existing security frameworks. A survey by Software Guild revealed that 72% of organizations lack plans to secure BYOD devices. These circumstances are likely to create significant opportunities for players in the data-centric security market.

In Europe, the data-centric security market encompasses key nations such as Germany, France, Russia, the UK, Italy, and other regions. The increasing internet penetration and the expansion of wireless networks are expected to drive the demand for data-centric security solutions. The implementation of EU regulations and initiatives, including the National Framework and the National Cybersecurity Plan, is anticipated to further bolster market growth. The introduction of the General Data Protection Regulation (GDPR) has established stringent consent standards, which are likely to influence the marketing sector. Additionally, governments are investing in the safeguarding of digital identities, enhancing the security of digital transactions and fostering consumer trust. Telecommunications companies are also ramping up their investments in data-centric security to counteract data threats. The COVID-19 pandemic has led to heightened cybersecurity measures, with the National Cyber Security Centre (NCSC) issuing new guidelines to thwart cybercriminals from accessing sensitive information. Cybercriminals are increasingly targeting online retail platforms, underscoring the urgent need for robust data security solutions in the retail sector. According to VMware, Inc., a significant number of European countries have reported a high incidence of data breaches in the past year, further driving the demand for data-centric security solutions.

The analysis of the Data-Centric Security market involves evaluating various factors, including components, deployment modes, organization sizes, industry verticals, and geographical regions. The market is categorized by components into solutions and services, while deployment modes are divided into on-premise and cloud-based options. Regarding organization size, the market is segmented into small and medium enterprises (SMEs) and large enterprises. The verticals include IT and telecommunications, banking, financial services and insurance (BFSI), healthcare and pharmaceuticals, government and defense, among others. Geographically, the market is divided into five regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

The determination of the data-centric security market size has been achieved through a blend of primary and secondary research methodologies. A comprehensive secondary research process was undertaken, utilizing both internal and external sources to collect qualitative and quantitative data relevant to the market across all segments. Additionally, numerous primary interviews were conducted with industry professionals, including vice presidents, business development managers, market intelligence managers, national sales managers, external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the data-centric security domain. These interviews aimed to validate the collected data and provide further analytical insights.