As cited by the research report titled ‘Global Data-centric Security Market by Component (Software and Solutions and Professional Services), Deployment Mode (Cloud and On-premises), Organization Size (Small and medium enterprises, large enterprises), Vertical (Government and Defense, Healthcare, Telecommunications and others) Regional Forecasts 2021-2027’, available with Market Study Report, global data-centric security market was worth USD 3.5 billion in 2020 and is projected to grow with a CAGR of 23.1% over 2021-2027 to accumulate USD 15 billion by the end of study duration.
 

Rising demand for data-centric security solutions for security of cloud-based data and increasing risk on enterprise data owing to misuse of big data analytics are the factors driving the global data-centric security market growth. Additionally, data security governance and use of advanced technology such as machine learning, and artificial intelligence are generating lucrative prospects for the business scenario.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3862682/
 

For instance, as per the 2018 IDG Cloud Computing Survey, 73% of enterprises already had cloud-based software in place, while another 17% were planning to do the same in the following year. Emphasis among small and large businesses to protect their cloud data is augmenting the market outlook.
 

It is to be noted that global organizations are becoming more susceptible to cyberthreats due to extensive adoption of digitization. These companies are vulnerable to cyber-attacks despite having strong security mechanisms. As a result, they are now demanding stronger data protection policies and strategies.
 

Speaking of the factors restraining global data-centric security market expansion, rising organization inconvenience like data violations is negatively swaying the dynamics.
 

Based on component gamut, the industry is segmented into software & solutions, and professional services. Speaking of deployment mode, the marketplace is divided into cloud, and on premises. On the basis of organization size, the market is classified into small & medium enterprises, and large enterprises. Moving on to verticals, worldwide data-centric security industry space is fragmented into banking financial services & insurance (BFSI), healthcare & pharmaceuticals, government & defense, and IT & enterprises including others.
 

Geographically, North America is likely to be a major growth hub for the market over 2021-2027, owing to rising cyber-attacks, extensive use of cloud-based services along with government laws for data protection. Moreover, the companies in this region have made significant investments in data centric technology systems to boost their operations.
 

Key players in global data-centric security industry space are Orange Cyberdefense, Micro Focus International plc, Forcepoint, Nucleus Cyber Inc., Digital Guardian, HelpSystems LLC, International Business Machines Corporation (IBM), Informatica, Varonis Systems Inc., and Concentric AI.