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(IT-NEWSWIRE.COM, June 26, 2018 ) The data-centric security market size is expected to grow from USD 2.06 Billion in 2017 to USD 5.83 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.1% during the forecast period. The demand for data-centric security solutions and services is expected to be driven by many factors, such as data security governance, exploitation of trending technologies for enterprise data breaches, and stringent government regulations.
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The data-centric security market has been segmented on the basis of components, organization sizes, verticals, and regions. Among the components, the services segment is expected to grow at a higher CAGR during the forecast period and the solutions segment is estimated to have the largest market size in 2017. Data-Centric Security solutions and services aid in data auditing, monitoring and reporting, data governance, and data protection. Data protection measures such as encryption, masking, tokenization, anonymization, and pseudonymization aid in safeguarding structured and unstructured data in transit, data in rest, and data in process.
The large enterprises segment is expected to hold a larger market size during the forecast period. Large enterprises have been operating in a highly saturated market, wherein, they are left behind with limited growth opportunities. As these enterprises have various types of IT infrastructure, they face the difficult task of effectively managing the security of data on-premises and in the cloud. Different teams working in silos, such as file systems, database, SaaS, and IaaS, require different security and auditing measures. An increasing need for centralized policy management based on rules-provided data governance is expected to fuel the growth of the data-centric security market.
North America is estimated to have the largest market share in 2017, whereas the Asia-Pacific (APAC) region is projected to grow at the highest CAGR during the forecast period in the data-centric security market. Increasing of cyber-attacks, government data protection regulations, and proliferation of the adoption of cloud-based platforms are expected to drive the demand for data-centric security solutions and services, globally.
The adoption of data-centric security market solutions and services is expected to increase, owing to the rapid growth of cloud adoption, regulatory compliances, data governance, and data protection. However, major issues faced by enterprises while adopting data-centric security solutions and services are enterprise budgetary concerns, lack of context-aware data-centric security solutions, and the lack of technical expertise among enterprise workforce.
Major vendors providing data-centric security solutions and services are IBM (New York, US), Imperva (California, US), Informatica (California, US), Oracle (California, US), Varonis Systems (New York, US), AvePoint (New Jersey, US), BlueTalon (California, US), Dataguise (California, US), Datiphy (California, US), Micro Focus (Berkshire, UK), NextLabs (California, US), and Protegrity (Connecticut, US). These players have adopted various strategies, such as new product developments; partnerships, agreements, and collaborations; mergers and acquisitions; and business expansions to expand their presence in the global data-centric security market.
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Source: EmailWire.Com 
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