The database security market is expected to reach US $ 16,273. 8 million by 2028 from US $ 5,751. 7 million in 2020; it is expected to grow at a CAGR of 14.3% from 2021 to 2028. The overall market has been segmented into North America, Europe, Asia-Pacific (APAC), Middle East & Africa, and South America.
New York, January 7, 2022 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Release of the “Database Security Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Component, Application and Industry Vertical “- https: //www.reportlinker.com/p06195575/?utm_source=GNW
Database security solutions integrate advanced security products such as Internet traffic monitoring with a wide range of additional features. This evolution in database security is primarily attributed to the dynamic growth of the IT industry, which encourages advancements in disruptive and connected technologies such as IoT. Hence, these technological transformations have paved the way for heinous and malicious practices that result in loss of data and revenue for various organizations. To avoid such incidents, companies are increasingly opting for database security software. The database security market is driven by the growing concerns of industry players about ever-evolving cyberthreats.
Economic growth and competitiveness in Europe is expected to boost by 2025 due to the penetration of smart systems in important financial and social sectors, such as BFSI, IT and telecommunications, manufacturing and healthcare. The development and application of smart infrastructure is likely to contribute to the growth and subsequent employment of security measures.
Asia Pacific is likely to become the next target for cybercriminals due to the vigorous growth of digital transformation, leading to increasing sources of vulnerability resulting from IoT connectivity. Thus, the ever increasing number of security breaches is increasing the demand for database security software globally.
Automation is critical to the success of a cloud strategy; Many technology leaders are prioritizing automation, which in turn has positively impacted the database security market. When purchasing a product, online sellers collect information about customers such as mailing address, email address, credit card details, and contact details. number.
Therefore, the security of IT infrastructure and databases is an essential aspect for companies to protect this sensitive data. Technological advancements and digital transformation continue to drive investments in Big Data.
Thus, global spending on big data analytics solutions is expected to exceed $ 274.3 billion by 2022. Cyber ââsecurity threats have a huge impact on big data technology companies, as many of them lose millions. of their operating income due to poor data quality. To maintain an advantage in a highly competitive market with an increasing number of start-ups, companies must constantly innovate in their offerings. Big Data Analytics provides relevant insights / insights to Database Security industry experts to enable them to make informed decisions and help them develop strategic goals. This should help these big brands and business leaders outperform their competitors in the long run.
The database security market is segmented on the basis of components, organization size, industry, and geography. Based on the components, the market is then segmented into solutions and services.
In terms of organization size, the market is divided into SMEs and large enterprises. On the basis of industry, the database security market is segmented into BFSI, IT & Telecom, Manufacturing, Healthcare, Government, Retail, and others.
The failure rates of large-scale IT projects are unreasonably high in both the public and private sectors, resulting in huge failure costs. affecting the performance of various companies.
The global information technology market was valued at US $ 5.2 trillion by 2020, and it is expected to grow at a CAGR of 4.3% by 2026. However, low budget allocations for creation and the deployment of technologies appear to be a major challenge for database security. companies. As a result, many organizations withhold or slow down technology development and adoption projects.
Datasparc Inc., SAP SE, ScaleGrid, MICRO FOCUS, Thales, Oracle Corporation, IBM Corporation, McAfee, Fortinet and Trustwave are among the major players operating in the database security market.
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