Global Database Security Market Size, Share, and COVID-19 Impact Analysis, By Component (Software, Services), By Business Function (Marketing, Sales, Finance, Operations, and Others), By Deployment (On-premise, Cloud), By Enterprise Size (Small and Medium Enterprise, Large Enterprises), By Industry Vertical (BFSI, Telecommunication and IT, Government and Defense, Manufacturing, Healthcare and life sciences, Retail and E-commerce, Energy and Utilities, Media and Entertainments, and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

The global Database Security Market is projected to grow from USD 6.3 billion in 2021 to USD 13.44 billion by 2030 at a CAGR of 12.6% during the forecast period. Database security is a set of procedures that assures that an organization's data is kept private and secure. Database security refers to a collection of methods for making databases secure, preventing unauthorized access, and defending them against attacks, illegal use, and threats. It ensures the security of information stored in databases, database management systems, database servers, and other workflow applications. During the forecast period, a rise in digitization and acceptance of cloud-based database monitoring and data loss services in various industries to ensure the security of an enterprise's operational and confidential data is anticipated to boost the adoption of database security solutions in various industries.

COVID-19 ANALYSIS         

The COVID-19 pandemic has had a significant influence on a variety of businesses around the world, resulting in a global economic slowdown in most countries. As a result, it has had a significant influence on governments and corporations, resulting in the temporary and permanent shutdown of businesses during the pandemic.

Because of the epidemic, most firms have embraced a work-from-home culture, which necessitates providing a more secure means of communication to every person working from a different place. Because of the work-from-home trend, most businesses are having trouble delivering data in a secure manner. As a result, database security solutions must be implemented in a corporation to ensure secure data transmission.

LATEST TREND

Cloud-Based Applications and Services Propel Market Growth

Due to the ongoing evolution of the security scene, IT industries budgetary expenditures are always on the rise. The cost of maintaining hardware solutions to have a proper security system in place adds up to the expenditure of adopting new technologies and updating software on a regular basis. As a result, the overall implementation of software and services for cloud-based security solutions has increased. Organizations can get security solutions from vendors like Cisco, IBM, Broadcom, and McAfee via a Software-as-a-Service (SaaS) approach. The significant cost savings, flexibility, and scalability benefits of cloud solutions over on-premises deployment have been a primary draw for businesses to migrate their preferences to the cloud environment. Furthermore, SMEs with limited budgets are predicted to considerably deploy SaaS-based security solutions, indicating that the market for cloud-based apps and services is still quite promising.  

DRIVING FACTORS

Rising Demand for Sophisticated Security Solutions

Database security is an important aspect of IT infrastructure security due to it includes valuable and sensitive data. This information, which is gathered from a variety of sources such as customers and suppliers, must be kept private and adhere to the rules. During the purchase of a product, for example, businesses collect client information such as email address, phone number, postal address, credit card information, and so on. In recent years, the frequency of cyberattacks has increased substantially, as has their sophistication. Hackers are using technology like machine learning, AI and analytics to make cyberattacks more sophisticated. Such sophisticated cyberattacks frequently go unreported, and even when they are found, they take longer to remediate. From unauthorized access to databases to virus attacks resulting in data loss or corruption, the sophistication of these attacks has grown. The need for a comprehensive security solution to secure personal information and data is growing in response to the increased severity of cyber-attacks.      

RESTRAINTS

Higher Installation Cost Restrains Market Growth 

Due to the integration of high-quality hardware, database security systems have a significant initial investment and ongoing maintenance cost. Due to financial constraints, SMEs are hesitant to adopt modern technology and prefer to stick with traditional security software. Furthermore, corporations place a high priority on securing only key servers and pay little attention to the database's resting data. As a result, database security professionals' inability to successfully carry out their IT security activities is still hampered by a lack of suitable budget.  

SEGMENTATION

The Global Database Security Market is segmented by Component, Business Function, Deployment, Enterprise Size, Industry Vertical, and Region. Based on the Component, the market is categorized into Software, Services. Based on Business Function, the market is categorized into Marketing, Sales, Finance, Operations, and Others. Based on Deployment, the market is categorized into On-premise, Cloud. Based on the Enterprise Size, the market is categorized into Small and Medium Enterprise, Large Enterprises. Based on the Industry Vertical, the market is categorized into BFSI, Telecommunication and IT, Government and Defense, Manufacturing, Healthcare and life sciences, Retail and E-commerce, Energy and Utilities, Media and Entertainments, and Others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.      

REGIONAL INSIGHTS

The Global Database Security Market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.       

North America is the largest market for database security due to the large number of database security solution providers in the region, as well as increased investments in research and development by well-established IT corporations in the United States and Canada, North America is likely to fuel demand for database security in the region. Governments and commercial companies in countries like Canada, the United States, and others are expanding their investment in security solutions by establishing new programs and incorporating R&D into existing ones.   

The demand for database security in Europe is likely to raise as the frequency of cybercrime and data breach incidents increases. Because of the expanding usage of IoT-connected devices, rising occurrences of cybercrime, data breaches, and growing data-based technology adoption, Europe has exhibited tremendous need for cyber security solutions and services. Furthermore, severe data protection standards, laws, and regulations imposed by EU governments, such as GDPR, have spurred demand for security solutions in the public and private sectors to fulfill government norms across Europe.   

Asia Pacific is expected to grow at the fastest rate during the projection period. Governments and business entities in nations such as China, Japan, India, Oceania, South Korea, Southeast Asia, and others are boosting their investments in cloud security by tightening legislation. Growing e-commerce enterprises in Asia Pacific, which are rapidly expanding internet-based services and providing real-time access, are expected to drive up database security requirements in the region. 

KEY INDUSTRY PLAYERS

Microsoft Corporation, Oracle, Intel Corporation, IBM Corporation, Alibaba Cloud International, and other market leaders try to improve their product offerings by incorporating new technology. Other firms are forming strategic alliances in order to strengthen their market position and acquire a competitive advantage.   

KEY INDUSTRY DEVELOPMENTS:

July 2020- Fortinet Inc. announced the debut of Fortinet Secure SD-WAN, a new security solution for Multi-Cloud. This solution adds to the company's existing Secure SD-WAN Cloud On-Ramp capabilities, allowing enterprises and users to connect to cloud solutions and apps in a secure manner.

July 2021- Microsoft Corporation acquires CloudKnox Security. Microsoft will be able to provide cloud entitlement management and unified privileged access as a result of this acquisition.

LIST OF KEY COMPANIES PROFILED:

· Alibaba Cloud International

· BlackBerry Limited.

· Cloudera, Inc.

· Huawei Technologies Co., Ltd.

· IBM Corporation

· Intel Corporation

· Fortinet, Inc.

· Oracle

· OneNeck IT Solutions LLC

· Microsoft Corporation

· Micro Focus International plc

· McAfee, LLC

· Sophos Ltd.

· Symantec Corporation

· Thales Group

SEGMENTATION

By Component

• Software
• Services

By Business Function

• Marketing
• Sales
• Finance
• Operations
• Others

By Deployment

• On-premise
• Cloud

By Enterprise Size

• Small and Medium Enterprise
• Large Enterprises

By Industry Vertical

• BFSI
• Telecommunication and IT
• Government and Defense
• Manufacturing
• Healthcare and life sciences
• Retail and E-commerce
• Energy and Utilities
• Media and Entertainments
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America 
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa