According to a new report published by UnivDatos Markets Insights, the Database Security Market was valued at more than USD 5000 million in 2020 and is expected to grow at a CAGR of around 12% from 2022-2028. The analysis has been segmented into Component (Software and Services); Deployment (On-Premises and Cloud); Industry Vertical (BFSI, Retail & Ecommerce, Government & Defense, Healthcare, IT & Telecom, and Others) Region/Country.
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The database security market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Database Security market. The database security market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Database Security market at the global and regional levels.
Market Overview
Database security refers to all the precautions taken to safeguard a database or database management system from unauthorized access and harmful cyber threats and attacks. Database security protocols are designed to guard against infiltration, data misuse, and damage while also safeguarding the database management system and all applications that access it. The use of database security solutions is anticipated to increase as technology advances in the database protection or security sector to provide effective surveillance systems to track fraud, criminality, and terrorist activity. Moreover, the growing adoption of IoT devices in organizations to enhance operational communication is expected to drive the market during the forecast period. IoT devices allow users to access networks from several locations. Hence, the need to prevent data breaches in operational systems. For instance, according to exploding topics, there are more than 10 billion connected IoT devices across the world in the year 2019.
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Some of the major players operating in the market include SPARC, SAP SE, McAfee, LLC, Fortinet, Inc, Imperva, Microsoft, Micro Focus, Thales, Trend Micro Incorporated, HashiCorp, Inc
COVID-19 Impact
The COVID-19 pandemic has had a significant impact on the global economy, including the database security market. As more people have shifted to remote work and businesses have moved their operations online, there has been a greater need for secure databases to store and manage sensitive information.
The Global Database Security Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on component, the market is segmented into solutions and services. The solutions segment dominated the data security market in 2021 and is expected to maintain its domination throughout the forecast period. The growth of the segment is mainly attributed to the various benefits that database security software offers such as database auditing, reporting, encryption & tokenization and data masking, etc. Moreover, these software solutions make it easier to store and distribute data in an electronic and safe manner. These are the key factor that drives the growth of this segment in the Global market during the forecast period 2020-2028.
· On the basis of deployment, the market is segmented into on-premises and cloud. The cloud segment is expected to grow with the largest CAGR during the forecast period. The adoption of the cloud deployment strategy has skyrocketed in the market for database security. Mainly due to its main benefits such as scalability, rapid deployment, low implementation costs, and adaptability. Furthermore, cloud deployment architecture can help with the low-cost, safe storage of massive amounts of data which is expected to drive the segment market during the forecast period. Additionally, it enables companies to focus on their essential operations rather than IT infrastructure management.
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Database Security Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
The North America region led the database security market and is expected to maintain this during the forecast period. Early adoption of technologically advanced products such as database security systems in various enterprises to keep data safe is expected to be a major factor driving growth driving the market. Moreover, the growing investments in the cyber security industry in the region is expected to drive the market during the forecast period. Moreover, the growing cost of each data breach is expected to influence market growth. For instance, according to IBM, the average cost per data breach in the USA is USD 9.44 Million.
The major players targeting the market include
· SPARC
· SAP SE
· McAfee, LLC
· Fortinet, Inc
· Imperva
· Microsoft
· Micro Focus
· Thales
· Trend Micro Incorporated
· HashiCorp, Inc.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Database Security market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the database security market?
• Which factors are influencing the database security market over the forecast period?
• What are the global challenges, threats, and risks in the database security market?
• Which factors are propelling and restraining the database security market?
• What are the demanding global regions of the database security market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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