Data-centric Security Market

Data-centric security is a vital aspect of information security that focuses on protecting the data itself rather than the systems that store or transmit it. With the increasing amount of data being generated and shared by individuals and organizations, it is becoming increasingly important to ensure that this data is protected from unauthorized access, theft, or misuse. In this essay, we will discuss the concept of data-centric security, its importance, and the various measures that can be taken to ensure it.

Data-centric security refers to a security approach that puts the emphasis on protecting the data at the heart of the organization. In this approach, the data is treated as the most important asset and is protected throughout its lifecycle. This means that data is protected both when it is at rest (stored in databases, servers, or other storage devices) and when it is in transit (being transmitted over networks).

The importance of data-centric security cannot be overstated. Data breaches have become all too common, with large organizations being targeted by hackers looking to steal sensitive information such as financial data, intellectual property, and personal information. These breaches can result in financial loss, reputational damage, and legal liability, among other consequences.

One of the key benefits of data-centric security is that it provides a more granular level of protection than traditional security approaches. Rather than simply protecting the systems and networks that store and transmit data, data-centric security focuses on protecting the data itself. This means that even if a hacker gains access to a system, they will not be able to access the data without the necessary permissions.

There are several measures that can be taken to ensure data-centric security. One of the most important is encryption. Encryption involves scrambling the data in such a way that it can only be read by someone who has the decryption key. This ensures that even if the data is intercepted, it will be useless to anyone who does not have the key.

Another measure that can be taken is access control. Access control involves restricting access to data based on a user's identity, role, or level of authorization. This ensures that only those who are authorized to access the data can do so.

Data masking is another technique that can be used to ensure data-centric security. Data masking involves replacing sensitive data with fictitious data so that it can be used for testing, development, or other purposes without exposing the real data. This ensures that the sensitive data remains protected even when it is being used for non-production purposes.

In conclusion, data-centric security is a crucial aspect of information security that focuses on protecting the data itself. This approach provides a more granular level of protection and ensures that even if a system is compromised, the data will remain protected. Encryption, access control, and data masking are some of the measures that can be taken to ensure data-centric security. With the increasing amount of data being generated and shared, it is becoming more important than ever to ensure that this data is protected from unauthorized access, theft, or misuse.

Market Dynamics: Increasing Demand for Data-Centric Security Solutions in Cloud-Based Environments

The demand for data-centric security solutions is on the rise due to the increasing volume of data flowing freely in cloud-based environments. As the workforce becomes more mobile, data is growing faster and can be accessed from anywhere. This has resulted in large and small enterprises looking for ways to protect their data in the cloud.

Leading companies such as IBM, Microsoft, and Google have already dominated the cloud market by utilizing advanced technologies such as AI and ML to analyze data. As a result, the need for data protection has become critical for enterprises. For instance, Informatica's Intelligent Cloud ServicesSM offers data protection through failover data centers, user authentication, access controls, and encryption at the operating system, database, and application levels.

The COVID-19 pandemic has also contributed to the increase in demand for data-centric security solutions. With the adoption of new devices and remote work patterns, the risk of data breaches has risen. In response, several companies have developed data-centric security solutions and services to protect data in cloud-based environments. For example, Cloudera offers the latest version of its cloud data security solution to clients post-COVID.

The need for robust cloud-based data-centric security is expected to increase, as 80% of attacks in 2020 were due to simple data leakages and brute force attacks. As a result, enterprises will seek more secure solutions and services to ensure the protection of their data in the cloud.

Restraints in Data-centric Security Market

The degree of tolerance an organization has for inconvenience and security breaches arising from internal vulnerabilities is known as restraint. It is a common belief that only sophisticated security devices can safeguard an organization from threats, but this notion overlooks the two key drivers of information security risk: organizational culture and behavior. Due to the complexity, memorization, and typing involved, many organizations avoid using multiple passwords and extra keys. In addition, a data-centric security approach is often deemed too daunting, causing many CISOs to only protect data on disks, applications, and other technology segments. However, such measures may prove ineffective when the data is transferred from one layer to another, leaving internal data breaches unchecked by any security solutions.

The global market for data security is driven by several factors such as the growing demand for technologies that secure cloud data, the implementation of stringent laws and compliance, and the rising risks to business information resulting from the use of advanced technologies like big data analytics, artificial intelligence, and machine learning. Nevertheless, the growth of the market is hindered by the organization's tolerance for discomfort and security issues arising from internal weaknesses.

Opportunities: With the rise of data breaches, data-centric security vendors have a growing opportunity to provide solutions that address critical vulnerabilities. Despite significant investments in data protection and privacy-related infrastructure, Informatica reported over 5,000 data breaches in 2019 with 8 billion records exposed. Additionally, a quarter of all organizations faced severe cyberattacks last year, with 83% of respondents in a Trend Micro survey predicting successful attacks in the current year. Companies need to prioritize securing data in the cloud, and the increase in data breaches among organizations is likely to drive the adoption of data-centric security solutions in the near future.

Challenges: One of the major challenges faced by data-centric security solution vendors is the lack of awareness among organizations regarding potential threats and security solutions. The FBI has reported a significant increase in data leakage and extortion due to this lack of awareness, resulting in a staggering USD 12.5 billion loss in 2018. Furthermore, an IBM report revealed that over 85% of the 8.5 billion data compromised in 2019 were due to incorrectly configured cloud servers and other technologies. Instead of securing less crucial data within IT infrastructure, data-centric security solutions prioritize safeguarding sensitive information such as that found in documents and databases. These solutions offer security for cloud technology and other systems while protecting critical data, which is a top priority for businesses. As data breaches continue to rise in organizations, data-centric security solutions are likely to become more widely adopted in the coming years.

Market Trends: Healthcare & Pharmaceutical Segment and Asia Pacific Region to Experience Significant Growth in Data-Centric Security Market

The healthcare & pharmaceutical segment is expected to witness the highest growth rate during the forecast period. The healthcare industry deals with personal health information and critical patient data, making data security a top priority. The need to safeguard internal healthcare data has also become increasingly important, as healthcare organizations often focus on customer data protection rather than internal data protection. Regulatory compliances such as HIPAA help secure sensitive data and protect network gateways and databases. The increasing instances of medical record thefts and awareness of regulatory compliances are expected to drive the adoption of data-centric security solutions and services in the healthcare & pharmaceutical segment.

In the Asia Pacific region, the data-centric security market is projected to have the highest growth rate. The region has experienced a surge in internet applications and vulnerable devices, leading to a rise in ransomware attacks. Additionally, governments in the region have implemented regulations that require enterprises to invest in data security measures or face hefty penalties. As a result, the adoption of data-centric security solutions is expected to increase among enterprises in the Asia Pacific region.

The current era is marked by a growing reliance on digital and cloud computing trends, with many businesses relying on cloud networks for various applications such as data storage, payment processing, and even running their entire operations through the cloud. As a result of this increased dependency on cloud technology in the business world, many small and medium-sized enterprises have become increasingly interested in safeguarding their data exchanged and stored through the cloud. Consequently, these organizations are expected to increase their investments in data-centric security solutions and services in the foreseeable future.

Digitization trends have led to a significant increase in digital data production in recent decades, which is expected to continue in the near future due to the widespread use of digital devices such as smartphones and computers. This increase in data volume has also led to a growing need for data-centric security solutions to protect both corporate and consumer data. As a result, the market for data-centric security has experienced substantial growth in recent years and is expected to continue growing over the forecast period.

One of the primary drivers of this growth is the increasing demand for businesses of all sizes to secure their data in the cloud. For example, Informatica's Intelligent Cloud Services SM provides encryption at various levels, including computer systems, databases, applications, data centers, user authentication, and network access. The risk of data breaches has increased due to the introduction of new devices, security and accessibility patterns, and methods required to maintain cloud infrastructure while working from home. In response, several businesses have created data-centric security products and services, especially during the pandemic.

The report provides a comprehensive analysis of the growth prospects and restraints of the data-centric security market. It includes Porter's five forces analysis of the industry to assess the impact of various factors such as the bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the data-centric security market trends.

In-depth competitive analysis of key players

• INFORMATICA
• IBM
• BROADCOM
• MICRO FOCUS
• VARONIS SYSTEMS
• TALEND
• ORANGE CYBERDEFENSE
• FORCEPOINT
• IMPERVA
• NETAPP
• INFOGIX
• PKWARE
• SECLORE
• FASOO
• PROTEGRITY
• EGNYTE
• NETWRIX
• DIGITAL GUARDIAN
• HELPSYSTEMS
• BIGID
• SECURITI
• SECUPI
• CONCENTRIC.AI
• LEPIDE
• NEXTLABS
• SEALPATH
• NUCLEUS CYBER
• DATHENA

Recent Developments in Data-Centric Security Market

Several developments have been made in the data-centric security market in recent years. In May 2022, Informatica and Oracle announced a partnership that will integrate Informatica’s Intelligent Data Management Cloud with Oracle’s autonomous database, Oracle Exadata Database Service, and Oracle Object Storage. This partnership aims to simplify migrations to OCI and enhance data governance on OCI and IDMC.

In April 2022, Snowflake, a data cloud company, partnered with Informatica to integrate the data cloud with Informatica’s Intelligent Data Management Cloud. This partnership aims to improve the management of data across organizations.

In April 2021, Google Cloud and Broadcom announced a strategic collaboration to increase innovation and broaden cloud services integration within Broadcom’s software franchises. The collaboration allows Broadcom to provide its security and enterprise operations software on Google Cloud, while Google Cloud’s data and analytics services will support Broadcom’s business decisions and its customers.

In February 2021, IBM and Palantir Technologies joined forces to deliver AI for businesses. The collaboration aims to simplify how businesses build and deploy AI-infused applications with IBM Watson and help users access, analyze, and act on vast amounts of data scattered across hybrid cloud environments.

In December 2020, Vertica announced a partnership with Tech Mahindra to deliver predictive analytics for global enterprises. The partnership aims to use advanced analytics and machine learning to analyze data through high-performance processing.

In recent years, the data-centric security market has witnessed significant growth due to the increasing prevalence of cyber-attacks and data breaches. According to recent market research reports, the global data-centric security market is expected to grow at a steady rate over the next few years, reaching a valuation of several billion dollars by the end of the forecast period.

One of the major factors driving the growth of this market is the increasing adoption of cloud-based services by businesses of all sizes. With more companies relying on cloud networks for storing and exchanging sensitive data, the demand for robust data-centric security solutions has also increased.

Furthermore, the implementation of stringent data protection regulations such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) has also contributed to the growth of the data-centric security market. Organizations are now required to comply with these regulations and ensure that their data protection measures meet the required standards.

Moreover, the rise in adoption of advanced technologies such as artificial intelligence (AI), machine learning (ML), and big data analytics has further increased the need for effective data-centric security solutions. These technologies generate large volumes of sensitive data, which need to be protected against cyber threats and data breaches.

In conclusion, the data-centric security market is expected to continue its growth trajectory in the coming years, driven by factors such as increasing cloud adoption, stricter data protection regulations, and the rise in adoption of advanced technologies.