According to Adroit Market Research, the global data-centric security market size is estimated at US$2.76 billion in 2021 and is expected to grow to US$39.348 billion by 2030, with a compound annual growth rate of 30.9% from 2021 to 2030.
Data-centric security emphasizes protecting the data itself, regardless of where it is located or how it is accessed, rather than relying solely on perimeter-based security measures such as firewalls and intrusion detection systems, the researchers said. Organizations can use this classification to prioritize data protection activities.
Protect data with encryption
A key element of data-centric security is encryption. It requires the data to be encrypted so that only a user or system equipped with the correct decryption key can decode it.
By doing this, you ensure that even if the data is compromised, only authorized users can access it. Strict access control is used to ensure that only authorized users can access certain data. To restrict access to data based on the user's job and requirements, role-based access control (RBAC) and least privilege concepts are often used.
Data center security to ensure compliance
According to Adroit Market Research, due to the introduction of data privacy rules such as the European GDPR (General Data Protection Regulation) and CCPA (California Consumer Privacy Act), organizations are using data-centric security measures to ensure compliance and avoid hefty penalties) In the U.S.
Data protection has become a serious issue due to the growth of data from multiple sources such as IoT devices, social media and cloud services, thus increasing the attack surface. Organizations are looking for data-centric security solutions that provide unified protection across on-premises and cloud settings as data and applications move to the cloud.
As cyber threats continue to evolve and data breaches increase, advanced data-centric security solutions are becoming increasingly necessary. Businesses that can provide cutting-edge and effective methods to protect sensitive data are in high demand. Data privacy laws such as GDPR, CCPA, etc. are constantly changing and expanding to cover more countries and sectors.
There is huge potential for businesses that provide solutions to help organizations comply with these rules. As more and more enterprises move data and applications to the cloud, robust data-centric security solutions are needed to protect data in on-premises and cloud environments. Cloud-native security solutions are in high demand.
Educate users on data-centric security
With data privacy being a top concern, solutions that support data masking, tokenization and de-identification in non-production settings can be beneficial for organizations looking to protect sensitive data during testing and development. There are opportunities for businesses that provide security awareness and training services.
To prevent data breaches, users and staff must be educated on data-centric security best practices, researchers say. Many businesses, especially small and medium-sized businesses, choose to outsource their data protection needs. Data-centric security solutions can be included in the services provided by a managed security service provider (MSSP).
The COVID-19 pandemic has accelerated the trend toward remote work, raising the need for secure data access and transfer across multiple locations and devices. As organizations become more aware of the importance of data-centric security, they are investing in employee training and awareness programs.
Data-centric security is becoming more efficient and demand continues to grow
Data-centric security measures are becoming more effective through developments in encryption technology, data loss prevention (DLP) systems and artificial intelligence for threat detection.
To protect sensitive data in their respective domains, many enterprises, including healthcare, banking, and government, have adopted data-centric security solutions. The data-centric security market continues to see an increase in cybersecurity vendors offering a variety of solutions to meet the needs of different customers.
DLP solutions were born in the 2000s in response to growing concerns about data breaches and breaches. With DLP technology, organizations can monitor and block unauthorized transfers of sensitive data.
Due to the explosion of data and the growth of data protection regulations, organizations are beginning to implement data classification and governance practices. This requires identifying and classifying data based on its sensitivity and putting in place appropriate procedures to protect the data.
As businesses adopt cloud computing, data security in the cloud becomes a major concern. To address these issues, cloud security solutions and best practices began to evolve.