CHICAGO, Nov. 10, 2021 /PRNewswire/ — According to a market research report “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 – Global Forecast to 2026″, published by MarketsandMarkets™, the global Database Security Market size 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.
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Growing demand for sophisticated security solutions, Evolving regulatory landscape, Growing volumes of business data across industries to boost the growth of Database Security Market across the globe during the forecast period. Moreover, rising demand for business intelligence, rising trend of cloud-based Database Security practices, and integration of technologies such as predictive analytics, AI, ML into Database Security would provide lucrative opportunities for Database Security Market vendors.
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By deployment mode, cloud based segment to hold the largest market size during the forecast period
The cloud deployment mode has witnessed tremendous growth in the Database Security Market. It provides various benefits, such as scalability, speed and ease of deployment, low implementation costs, and agility. Due to all this features cloud adoption has been accelerated in COVID-19. Moreover, this deployment mode can help in securing high amounts of data at a minimal cost. It also provides the flexibility for enterprises to focus on their core function rather than managing the IT infrastructure. The cloud-based deployment mode offers a consolidated platform in the form of SaaS-based security services. These SaaS-based services help secure the databases, thereby turning out to be beneficial for organizations that have strict budgets for security investments. Therefore, organizations are moving toward the cloud deployment mode rapidly. In fact, it has been the most preferred deployment mode for database security.
In vertical, retail and e-commerce to grow at the highest CAGR during the forecast period
The retail and eCommerce vertical is prominently growing in the Database Security Market. The advancements in various technologies have encouraged this vertical to adopt electronic devices and other internet-based services, along with real-time access, to provide better quality services to customers. However, the use of electronic devices has led to fear of data theft and data loss among the retailers. Further, the growing cyber-attacks and data thefts have increased the pressure on the retailers to secure their databases.
Such factors have also increased the adoption rate of the database security solutions for encrypting and protecting confidential and private information of customers that is stored in the databases. Database security in the eCommerce vertical has a vital role; it helps in retrieving the data from databases and web applications, which are prone to data hacking and malicious activities. Therefore, many eCommerce businesses are allocating significant amounts of their budget toward database security. In addition, the regulatory compliances, such as Advanced Encryption Standard (AES) and PCI DSS, have helped in retaining the privacy of customer-sensitive data.
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In the region, APAC to grow at the highest CAGR during the forecast period
APAC is the fastest-growing region in the Database Security Market space. Countries including India, China, Japan, Australia, and Korea are growing at a faster pace. Owing to the massive growth of data from all industries in this region, database security solutions are widely adopted. Whether it is a manufacturing or a media and entertainment industry, the enormous flow of data has shown the need for an effective database security solution. Initially, organizations used to store the data in the form of silos. These silos made it difficult to manage and maintain data security. Hence, the database security solutions and services are expected to show a high adoption rate in this region. A recent study has shown a tremendous Hadoop adoption in the APAC region. This has indicated a rise in big data volumes as well. Hence, various enterprises in this region have adopted database security solutions to secure this massive amount of data. Enterprises are trying to gain benefits from database security technologies to offer comprehensive security solutions to enterprises.
Major vendors in the global Database Security Market include Oracle (US), IBM (US), Trustwave (US), McAfee (US), Fortinet (US), Cloudera (US), AWS (US), Microsoft (US), IRI (US), Micro Focus (US), Imperva (US), Alibaba Cloud (China), Huawei (China), Mak Logic (US), Thales Group (France), Tencent (China), Protegrity (US), Trend Micro (UK), Hashicorp (US), Datasparc (US), Scalegrid (US), Optiv Security (US), Zimcom (US), OneNeck (US), Netwrix (US).
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