ID: MRFR/ICT/4039-HCR | February 2021 | Region: Global | 100 pages
Data Masking is also helpful to analyze huge data without disrupting regular operations. It protects the data from any cyber threat or privacy breach. The development in the IT sectors and the rising cyber-attacks are the major concerns among various enterprises. This has led to an increase in the costs for expenditure. That is why the Data protection Market has a good scope for exponential growth in the future.
The major factors such as the rising demand for reducing the data risk are propelling the Data Masking Market. Providing safety and security to confidential data is the major concern for the market growth. Cloud- deployment is projected to grow at a faster rate in the upcoming period. The changing business standards and digitalization are also enhancing market growth.
The rapid spread of COVID-19 disease has hindered the growth of the Data Masking Market. Due to the outbreak, several countries across the world imposed a lockdown to restrict movement. Due to this several business organizations suffered losses. However, a drastic shift towards digitalization was observed. The shift has fuelled the need for privacy and data security among several enterprises. In the future, the Data Masking Market will further grow at a rapid speed.
Data Masking Market Dynamics:
The major drivers of the Data Masking Market are the growing need to protect the data from cyber-attacks. The major concerns for the rising cases of cyber-attacks have pushed enterprises to protect their system. It helps to enhance customer satisfaction by data analysis upon cloud-based systems. Hence, the Data Masking Market Trends among the corporate enterprises are pushing the market growth.
There are several restraints that can hinder the Data Masking Market growth during the forecast period. One of the major restraints is the lack of professionals to handle the crucial data. It is very important to manage the complexities to manage and analysis of data. This in turn led to slower growth of the market in the upcoming period.
It is projected that the Data Masking Industry will flourish due to several factors. Such as the growing need for an appropriate system for data privacy will help the market to grow. Especially, in the corporate sector, the demand for data security is promoting the market towards growth.
However, the Data Masking Market Growth will face several hindrances for the growth. Handling a huge amount of data for data masking and maintaining its authenticity will be difficult. Upon that, the lack of professionals to manage the system is a huge challenge for the market growth.
With the growing trends in the Data Masking Industry, the market is projected to flourish in the upcoming period. Several factors such as the growing need for data privacy and safety are the major drivers for the exponential growth. The Data Masking Market is projected to grow at a Compound Annual Growth Rate (CAGR) of 12%. It is estimated that the market will further expand and reach up to USD 830 Million during the forecast period 2017-2023.
Value Chain Analysis:
Due to the rising need for data security and analysis, the value of the Data Masking Industry will further grow. Along with that several advantages will push the market towards growth. There are various restraining factors such as the lack of skilled professionals that can result in slower growth of the Data Masking Market. Despite these factors, the market will grow at a definite CAGR. Hence, it will open several opportunities for the key players with new investments and technological development.
It is estimated that the North American region will dominate the Data Masking Market Size. Major countries such as the United States and Canada are promoting market growth. The growing technological infrastructure in the It sector and Cloud-based systems. Major Key Players in the region are promoting the market growth.
However, the European region will hold the second-largest share in the market growth. Developed countries such as Germany, UK, France, etc. are the top growing region for Data Masking Market growth.
Apart from that, the Asia-Pacific region is projected to grow at the fastest rate during the forecast period. Rapid technological advancements in major countries such as China, India, and Japan are the main reason for the growth.
Data Masking Market Competitive Landscape:
Several key players use different market techniques to increase their business revenue. These strategies help them for product development and increase their business foothold. Some of the strategies are acquisitions, collaboration, market analysis, partnerships, new product launches, joint ventures, etc. Here is the list of Data Masking Market Top Players-
The overview of the Data Masking Industry is as follows-
Report Score and Segmentation
The scope of the report is to provide significant data about the Global Data Masking Market. This report provides clarity about the various aspects such as opportunities, market restraints, and challenges as well. It also contains information about the major key players in the market. The information collected in this report is obtained from secondary and primary sources to provide accurate information.
|Market Size||USD 830 Million (2023)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Type, by Component, by Deployment|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Oracle Corporation (U.S.), Compuware Corporation (U.S.), Innovative Routines International, Inc (U.S.),Delphix Corp (U.S.), IBM Corporation (U.S.), Net 2000 Ltd. (U.S.), Camouflage Software Inc. (Canada), ARCAD Software (France), Informatica Corporation, (U.S.), Hewlett Packard Enterprise Company. (U.S.), Solix Technologies, Inc (U.S.), Ekobit d.o.o. (Croatia), and CA Technologies (U.S.).|
|Key Market Opportunities||Data masking is a secured technique that prevents breach of private & confidential information from fringe elements which eventually minimizes the security risk.|
|Key Market Drivers||Europe is anticipated to have a substantial growth over the forecast period. Countries such as Germany, France, and the U.K are leading the region.|
Frequently Asked Questions (FAQ) :
An income of USD 830 million by the conclusion of the forecast is expected to be gained by the market.
A 12% CAGR is estimated to have a positive effect on the market.
Hewlett Packard Enterprise Company. (U.S.), Informatica Corporation, (U.S.), Ekobit d.o.o. (Croatia) and Solix Technologies, Inc (U.S.).
The development in the spending on safety and security for confidential and private data is estimated to benefit the market.
Dynamic data masking and static data masking form a part of the products in the market.