The data security market share is expected to grow at a CAGR of 14.8% between 2022 and 2027. The stringent regulations regarding data protection and the increasing focus on data security automation provide a promising ground for the data security market.
Stringent regulations have been imposed in several countries and regions to improve data security. The presence of such stringent regulations is increasing the demand for data security services and solutions and driving the growth of the global data security market during the forecast period
Technavio’s analysis on “Data Security Market by Deployment, Type and Geography - Forecast and Analysis 2023-2027” projects that the market share is expected to increase by USD 3,866.29 million at an accelerating CAGR during 2023-2027.
Browse Technavio's 165-page report and in-depth TOC on "Data Security Market by deployment (on-premises and cloud-based), type (large enterprise and SME), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
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The data security market is segmented by deployment (on-premises and cloud-based), type (large enterprise and SME), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The market share growth by the on-premises segment will be significant during the forecast period. The on-premises data security solutions are preferred for the complex IT security needs of large organizations and are expected to promote the growth of the data security market during the forecast period.
Security concerns with open-source data security solutions have become a major challenge to the adoption of data security. The source code of open-source data security solutions is transparent and can be accessed by everyone, unlike proprietary software. Security-related concerns with open-source data security solutions affect the adoption of data security solutions and, in turn, hamper the growth of the market during the forecast period.
The market structure is fragmented, and the vendors are implementing various strategies such as technological innovations to compete in the market.
Some of the major data security market vendors are Amazon.com Inc., Broadcom Inc., Centrify Corp., Cisco Systems Inc., Cloudera Inc., Fortinet Inc., Hewlett Packard Enterprise Co., Imperva Inc., International Business Machines Corp., McAfee LLC, Microsoft Corp., NetApp Inc., Oracle Corp., Palo Alto Networks Inc., Proofpoint Inc., Sirius Computer Solutions Inc., Sophos Ltd., Thales Group, Varonis Systems Inc., and Zscaler Inc.
amazon.com - The company offers data security solutions such as AWS Cloud Security.
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Precise market size estimation during the forecast period 2023-2027.
CAGR of the data security market forecast during 2023-2027.
Market-level data on units, average selling prices, and values of the data security market share.
Prediction of the upcoming trends, drivers, and factors that challenge the data security market.
Data security market growth across North America, Europe, APAC, South America, and Middle East and Africa.