The Global Database Security Market was valued at USD 4.5 Bn in 2020 and is expected to reach USD 14.7 Bn by 2027, with a growing CAGR of 18.5% during the forecast period.
Global Database Security Market Definition
Database security is the method that protects and secures the database towards intentional or unintentional threats. Security issues could apply not only to the data that resides in an organization's database: the breaking of security may damage other components of the system, which may also ultimately affect the database structure.
Global Database Security Market Dynamics
The increasing demand from the e-commerce industry due to growing cybercrimes has been considered as an important factor that drives the growth of the database security market during the forecast period. Since online purchasing has gained a good deal of recognition in the market and is going through higher dominance in comparison to conventional methods, data protection turns into a prime challenge for e-commerce websites. With the upsurge ine-commerce industry, cybercriminals have selected e-commerce websites as the main target towards having access to and misusing data information because of saving payment options through the customers. Moreover, cybercriminals access that sensitive information which includes saved credit card numbers to make purchases in addition to causing financial thefts. For instance, according to Kaspersky, around 1.5 billion attacks on smart devices—ranging from smartwatches to smart home accessories—and other Internet of Things (IoT) devices were reported in the first half of 2021. Therefore, e-commerce websites adopt high database security solutions to prevent cyberattacks, which in turn, accelerate the database security market growth during the forecast period.
The Global Database Security Market Segmentation:
By Business Function
By Deployment Mode
By Organization Size
Company Profiles and Competitive Intelligence
The key players operating in the database security market are:
Based on organization size, the small and medium enterprises segment is expected to grow at the highest CAGR during the forecast period as SMEs are looking for robust database security solutions to save money, time, and resources
Based on the organization size, the database security sector has been segmented into small and medium-sized enterprises and large enterprises. The small and medium enterprises segment of database security market is expected to grow at the highest CAGR during the forecast period because SMEs are looking for robust database security solutions to save money, time, and resources. SMEs are adopting cloud services at a rapid pace due to numerous reasons which include flexibility, disaster recovery, automatic updates, low capital expenditure, collaboration, document control, and security. It helps enterprises in reducing the costs and providing IT services that are similar to that of the large enterprises. Thus, this segment grew at the highest CAGR during the forecast period.
Based on the vertical, the retail and e-commerce segment of the database security market is expected to grow at the highest CAGR during the forecast period owing to the rapid growth in the industry
Based on vertical, the database security sector is segmented into BFSI, telecommunication and IT, government and defense, manufacturing, healthcare and life sciences, retail and e-commerce, energy and utilities, media and entertainment, and others. The retail and e-commerce segment of the database security market is expected to grow at the highest CAGR during the forecast period due to the rapid growth in the industry. The advancements in diverse technology have encouraged this vertical to adopt digital gadgets and other internet-based offerings, together with real-time access, to offer higher quality services to consumers. However, the usage of digital gadgets has caused a concern to worry about data theft and data loss in some of the retailers. Further, the increasing cyber-attacks and data thefts have accelerated the stress on retailers to secure their databases. Such factors have additionally accelerated the adoption rate of the database security solutions for encrypting and protecting confidential and private data of customers that are stored in the databases.
Based on region, the Asia Pacific region is expected to grow at the highest CAGR during the forecast period
The Asia Pacific region is expected to grow at the highest CAGR during the forecast period owing to the strong growth in the countries like India, China, Japan, and Korea. Moreover, the robust growth of the data from various industries such as manufacturing, entertainment, e-commerce, and others are anticipated to adopt effective database security solutions. Initially, organizations used to keep the records in the form of silos. These silos made it hard to control and keep records protected. Hence, the database security solutions and offerings are predicted to reveal an excessive adoption rate in this region. A current study has proven a tremendous Hadoop adoption in the APAC region. This has indicated an upward thrust in big data volumes as well. Hence, numerous organizations in this region have adopted database security solutions to secure this huge amount of data. Enterprises are looking to gain benefits from database security technology to provide complete security solutions to organizations.
The report also provides an in-depth analysis of database security markets dynamics such as drivers, restraints, opportunities, and challenges
COVID-19 Impact on the Database Security Market Analysis
The COVID-19 pandemic has positively influenced the growth of the database security market due to adopting fast digital transformation strategies because COVID-19 has immediately increased the amount of data stored in the clouds, accompanied through other troubles which include performance, availability, security, and increased IT costs, necessitating database security solutions and services. Moreover, the maximum companies are still working in WFH and hybrid work models, the demand for database security for security assessments is further expected to increase for effective SIEM and threat intelligence across the globe. Thus, the COVID-19 pandemic positive influenced the market growth.
The report also provides an in-depth analysis of key trends in the database security market
|1||The increased focus on cybersecurity for remote workers is the major trend that accelerate the market growth. The shifting towards working from home posed more challenges for businesses in keeping their data safe. Home networks, personal and shared computers, and access to a wide range of systems from outside the office increased the threat of cyberattacks and data breaches exponentially.||Positive|
|2||An increase in ransomware attacks is anticipated to boost database security market growth.||Positive|
The report also provides an in-depth analysis of recent news developments and investments
The unique insights provided by this report also include the following:
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