According to 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 MarketStudyReport, global data-centric security market  was valued at USD 3.5 billion in 2020 and is expected to register an annual growth rate of 23.1%, thereby accumulating USD 15 billion by 2027.
 

High demand for the technology by small and big businesses for cloud-based data security applications and surging risk on enterprise data owing to the misuse of Big Data Analytics are boosting the expansion of global data-centric security market.
 

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In addition, widespread adoption of cutting-edge technologies like Machine Learning, Artificial Intelligence, and Big Data Analytics coupled with focus towards data security governance are augmenting industry outlook. As per the data released by IDG in 2018, around 73 % of organizations use cloud-based network or software and another 17 % are planning to integrate the same in the coming years.
 

For the unversed, data-centric security solutions enable the protection of an organization’s data compliance and privacy by using strategies like data classification, data loss protection, improved gateway monitoring, cloud access, and data tagging & watermarking among others.
 

On the contrary, rising concerns regarding data breaches are likely to slow down the progress of global data-centric security market.
 

Speaking of the regional landscape, North America is recording notable gains at present owing to increased pervasiveness of cyber-attacks, rising usage of cloud-based services, stringent data-protection laws, and substantial investments towards adopting data-centric technology systems.
 

Meanwhile, Asia Pacific data-centric security market is anticipated to expand considerably during 2021-2027, primarily due to growing penetration of mobile phones in the region.
 

Major players like Orange Cyberdefense, Micro Focus International plc, Forcepoint LLC, Nucleus Cyber Inc., Digital Guardian, HelpSystems LLC, International Business Machines Corporation, Informatica LLC, Varonis Systems Inc., and Concentric Inc. are profiled in global data-centric security market report.