Database Security: Global Market to Witness a CAGR of 12.6% Over 2021-2026 due to the Growing Demand for Sophisticated Security Solutions and an Evolving Regulatory Landscape
The major factors fueling the Database Security market include growing demand for sophisticated security solutions, evolving regulatory landscape, and growing volumes of business data across industries.
DUBLIN, Nov. 22, 2021 /PRNewswire/ -- The "Global Database Security Market by Component (Solution and Services), Business Function (Marketing, sales, finance, operations), Organization Size (Large Enterprises and SMEs), Deployment Mode (Cloud & On-premises), Vertical, & Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global Database Security market is expected to grow from USD 6.3 billion in 2021 to USD 11.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 12.6% from 2021 to 2026. The major factors fueling the Database Security market include growing demand for sophisticated security solutions, evolving regulatory landscape, and growing volumes of business data across industries.
Services to grow at a higher CAGR during the forecast period
Database security vendors support their customers in the efficient use of security products and maintain their products with the help of database security services. These players offer managed as well as professional services to detect and select appropriate solutions for risk management and data protection. Moreover, these services help collect, filter, integrate, and link multiple security data events. The professional services include consulting services, support and maintenance, education and training, and risk management services to assist the customers in proactively securing sensitive data. These services are based on tools, advanced technologies, and strategies.
Managed services are provided in the form of outsourcing certain IT operations to a service provider, who remotely manages the security. The increased security requirements amended regulatory compliances, and strict Service-Level Agreements (SLAs) are expected to drive the market growth. Some of the renowned players offering database security services include IBM, Oracle, McAfee, Trend Micro, Gemalto, Trustwave, Symantec, Imperva, and Fortinet.
In organization size segment, large enterprises to have a higher market share during the forecast period
The large enterprises are defined as business entities with more than 1,000 employees. The large enterprises segment is estimated to be dominating the database security market with its large share. In addition, it also contributes to the backbone of the global economy. The requirement of timely access to data has increased the usage of personal devices.
However, the expansive use of corporate data by wide-ranging workforce has increased the threat of wrong use of data, unauthorized accesses, and data thefts. Such issues, in turn, can affect the working of businesses and their profitability. Hence, to protect databases from cyber-attacks, data thefts, and unauthorized accesses, the large enterprises are considering the adoption of database security solutions.
Research Coverage
The market study covers the Database Security market size across segments. It aims at estimating the market size and growth potential of this market across different segments: by component, by deployment mode, by organization size, by vertical and by region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Market Dynamics
- Drivers
- Growing Demand for Sophisticated Security Solutions
- Evolving Regulatory Landscape
- Growing Volumes of Business Data Across Industries
- Restraints
- Budget Constraints and High Installation Cost of Solutions
- Insider Threats
- Opportunities
- The Proliferation of Cloud-based Applications and Services
- Continuously Evolving IT Landscape
- Challenges
- Lack of Awareness About Multi-Layered Security
- Lack of Skilled Workforce
Companies Profiled
- Amazon Web Services (AWS)
- Cloudera
- Datasparc
- Fortinet
- Hashicorp
- IBM
- IRI
- Mcafee
- Microsoft
- Oneneck
- Optiv Security
- Oracle
- Penta Security
- Protegrity
- Scalegrid
- Trend Micro
- Trustwave
- Zimcom
- Alibaba Cloud
- Huawei
- Imperva
- Marklogic
- Micro Focus
- Netwrix
- Tencent
- Thales Group
For more information about this report visit https://www.researchandmarkets.com/r/g7z5yx
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