Global Database Security Market is forecast to reach $9.32 Billion by 2025, growing at a CAGR of 13.7 % during the forecast period from 2020 to 2025. Rising adoption of data security by e-commerce sector along with increasing organizational data with high usage of connected devices and others are the major drivers causing significant market growth Moreover, government initiatives and regulations towards implementing database security systems to ensure data protection within the organizations along with increasing rates of cybercrimes due to using sophisticated advanced hacking solutions are also fuelling the market demands towards database security. Technological advancements such growth of IoT, artificial intelligence, cloud and many others have been deployed across major industries to boost their business growth are also propelling high demands towards efficient database security systems market.
- Cloud deployment solutions have been facing high dominance in the database security market owing to minimizing additional costs of maintenance and requirement for physical infrastructures.
- Keu players such as IBM Corporation and McAfee LLC have helped towards significant market growth of database security in North America.
- Rising adoption from ecommerce sector along with growing amount of business data volumes are some of the major driving factors affecting the growth of database security market.
Deployment Type – Segment Analysis
Cloud deployed models are anticipated to have a major market share in the database security market during the forecast period 2020-2025. Since the high usage of cloud based services in the market by the leading industry verticals, cloud database security systems have been also gaining much popularity. Deployment of cloud based database security models have been increasing across various industries due to its capability of providing much more efficient and faster data protection, thus improving the workflow productivity standards. Moreover, cloud database security tools are getting higher adoptability due to offering higher scalability, speed as well as ease of deployment compared to on premise models. Furthermore, the cloud based database security provides automatic data encryption, causing automatic security updates with reducing downtime requirement, thus helps the customers to protect their data from malicious external as well as internal attacks. Usage of cloud deployed database security acts a cost efficient solution due to overcoming the requirement of IT infrastructures as well related maintenance costs as in on premise models. Such factors help the industries to combine the enterprise grade performance with high levels of security, thus causing major adoption towards cloud database security in the market.
Geography – Segment Analysis
North America is expected to have a major growth in the global database security market during the forecast period from 2020 to 2025. Presence of some major payers such as McAfee LLC, IBM Corporation, Oracle Corporation and Fortinet have been contributing with major shares in the database security market. High investments towards research and development activities along with stringent governmental regulations and initiatives to improve data protection standards across the organizations are acting as major drivers for the growth of database security market. In 2019, U.S based credit cards giant named Visa reported the hackers attack on thepaymentsystems of some North American gas stations to steal the financial data, thus causing security breaches. Such instances have been causing higher needs towards efficientdatabase security systems in order to improve data protection within organizations. Moreover, rising rate of cybercrimes along with growing adoption of database security solutions from various industries have been also causing a positive impact on the market growth.
Drivers – Database Security Market
- Increasing volumes of business data
The rising growth of business datahas been acting as one of the major driving factor towards significant growth of database security market. Since the major industries have been generating massive amounts of data, issues such as data loss or data corruption through breaches can highly impact the business growth. This creates major demands towards database security systems which helps organizations to access data securely with efficient security breach protection, thus improving the productivity standards. Moreover, rates of data creation has been accelerating with a rapid pace over the years due to factors such as use of cloud computing, DevOps as well as internet connected devices, thus exceeding the enterprises capability of handling bulks of voluminous and variety of data files. Such factors eventually are creating higher needs towards efficient and flexible data systems to help the organizations manage such massive bulks of data volumes along with ensuring optimum data protection. Since the databases of the organizations capture a massive amount of sensitive information, data protection from breaches, cyber threats and many others becomes the topmost priority as any amount of data loss can affect the market position of the business, thus hampering its reputation in the market. Such instances cause the enterprises to highly invest towards data security solutions to safeguard their essential and important business data, causing its high market growth.
- Rising demands from E-commerce sector
Rising demands from ecommerce sector due to growing cybercrimes has been acting as a major driver towards significant growth of database security market. Since online shopping has gained much popularity in the market and is facing higher dominance compared to traditional methods, data protection becomes a major concern for the ecommerce websites. With the rise of ecommerce industry, cybercriminals have chosen the ecommerce sites as a major target towards accessing and misusing data information due to saving payment options by the customers. Moreover, cybercriminals access these sensitive customer data such as stored credit card numbers in order to make purchases as well as cause financial thefts. Credit card skimming involves injecting of code into any ecommerce sites helping in accessing all the submitted payment information to the cybercriminals, without giving any information to the customers. Moreover, such growing threats are causing the ecommerce companies to invest in efficient database security solutions to ensure high quality data encryption, authentication and protection for avoiding data hacking, hence improving business standards.
Challenges – Database Security Market
- High Investments
High investments are acting as one of the major challenge towards hampering the growth of database security market. Due to rising rate of cyber security data breaches across enterprises, usage of such database security solutions has been creating higher demands owing to its capability of increasing data protection within the organization. Moreover, as the cyberhackers are adopting advanced technologies towards causing security breaches, database security companies have been eventually trying to upgrade and improve their security standards. Such advancements towards improving data security standards requirehigh investments, which indirectly add to the costs of the database security solutions. Furthermore, the organizations need to incur investments towards training of workforce for monitoring of such complex database security tools, making it highly expensive and thus causing slower adoption from small scale businesses. Such factors add to the high costs of installation coupled with high maintenance needs, thus restraining the growth of database security market.
Partnerships and acquisitions along with product launches are the key strategies of the players in the database security market. The major key players in the database security market include McAfee LLC, Micro Focus International plc, Fortinet, Gemalto, HexaTier Ltd., IBM Corporation, Oracle Corporation, Imperva, Trustwave Holdings Inc., Mentis Inc. and IRI.
- In February 2020, Open Raven had announced the launch of a modern data security platform that offers visibility and control for enterprise data protection. This platform has been designed with an open source core with availability under Apache 2.0 license to act as an elegant solution for complex problems of data security. Moreover, the open raven platform will offer help to the customers towards understanding, managing as well as ensuring data security from a single location as it works seamlessly with organization’s existing tools and features.
- In July 2020, jSonar announced the launch of jSonar 4.2 as a major update towards its database security and compliance platform. With this launch, the company had extended its expertise of data monitoring, auditing as well as security by addition of an AI powered SDM system. This addition of SDM system “learn from me” in the platform will help users towards classifying and managing sensitive data more efficiently along with providing a library of customizable playbooks,thus causing users take preventive actions and automate responsestowards security events.