Global Database Security Market - 2022-2029

Market Overview

The Database Security Market reached US$ XX million in 2021 and is expected to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of 13.20% during the forecast period (2022-2029).

Database security is the range of tools, controls and measures designed to establish and preserve database confidentiality, integrity and availability. Database security is a complicated task that encompasses all areas of information security technology and procedures. It is also incompatible with database usability.

The database becomes more exposed to security threats as it becomes more accessible and useable; it becomes more invulnerable to attacks as it becomes more difficult to access and use. Database security involves many steps businesses take to protect their databases from internal and external threats.

The database, the data it holds, the database management system and the numerous applications that access it are all covered by database security. Databases are required to be protected against deliberate attacks, such as cyber security risks, as well as misuse of data and databases by individuals who have access to them

Market Dynamics

Increasing data breaching has increased the demand for the sophisticated database security solution

Increasing data breaching has increased the demand for the sophisticated database security solution

The amount of data that has been compromised is growing as more firms suffer serious security breaches. According to data breach statistics, hackers are driven by money to gain data and personal information is a lucrative type of data to infiltrate. It's also obvious that organizations are still unprepared despite the increasing frequency of data breaches.

As per Varonis statistics, 5,250 confirmed data breaches occurred in 2021. Furthermore, more than 20 data breach reports were daily in the initial six months of 2019. Nearly 3,813 breaches were reported in the first half of 2019, affecting more than 4.1 billion records. Various big players have experienced data breaching and invested a lot in adopting sophisticated database security platforms.

For instance, Ubiquiti Inc., a leading technology company, notified its customers of a data breach on January 11, 2021. Customer addresses, names, phone numbers and hashed and salted passwords

California Department of Motor Vehicles in 2021 notified drivers of a data breach caused by a ransomware assault on their billing provider, Automatic Funds Transfer Services. Furthermore, Hobby Lobby's database, which included over 300,000 entries, was exposed on March 23, 2021, due to a cloud bucket misconfiguration (IdentityForce).

While data breaches are growing more common, not all of them are catastrophic. Only eight significant data breaches accounted for 78.6 percent of all records exposed from the beginning of the year to June 30, according to Risk Based Security's 2019 midyear data breach report. The numbers demonstrate that cyber-threats are more serious for major organizations that manage significant amounts of data. Therefore, data security is one of the primary concerns for big players.

The increasing number of cyber-attacks escalates the need for a comprehensive security solution to protect confidential information and data. In such cyberattack scenarios, an efficient database security architecture becomes crucial to maintain the confidentiality of the database. Thus, various organizations continuously monitor, audit, report, assess, classify and improve database security.

Growing hackers devise new ways to infiltrate databases is challenging database security to decode the new hacking patterns

Some of the most enduring difficulties to database security are security concerns for internet-based assaults. Hackers develop new techniques to break into databases and steal data nearly daily. According to organizations, database security measures must be strong enough to withstand these attacks.

Some cyber security concerns, such as phishing scams in which user credentials are hijacked and used without permission, can be difficult to identify. Cyber security dangers such as malware and ransomware are also frequent.

Another important aspect of database security is ensuring that workers, partners or contractors do not abuse database access. Because users with legitimate access might steal data for their interests, these exfiltration vulnerabilities are difficult to prevent. The NSA's compromise by Edward Snowden is the best example of this dilemma.

Users with legal access to database systems and applications must also access only the information they require for their jobs. Otherwise, they have a greater chance of jeopardizing database security, severely challenging the market growth for database security to grow in the forecast period.

COVID-19 Impact Analysis

Due to COVID-19, adopting fast digital transformation methods has increased the volume of data kept in the clouds, leading to various challenges such as performance, availability, security and higher IT expenses, necessitating database security solutions and services.

Organizations are heavily focusing on centrally controlling different cloud resources due to COVID-19. As a result, database security is becoming increasingly important. Cloud-based database security solutions and services saw significant demand during the pandemic due to benefits such as scalability, pay-as-you-go, and external experts' usage.

With most firms still using WFH and hybrid work patterns, the demand for Database Security for security assessments is likely to improve even more globally to provide effective SIEM and threat intelligence.

Furthermore, the rise in remote working necessitates greater attention to cybersecurity because of the increased vulnerability to cyber danger. For example, in the fact that 47% of people who work from home fall victim to phishing scams. Cybercriminals have seen the pandemic as an opportunity to increase their criminal activities by taking advantage of remote workers' vulnerability and capitalizing on the public's great interest in coronavirus-related news.

Another factor to consider is the average data breach cost caused by remote working, which may be as high as US$137,000. Thus increased cybercrimes due to the rise in work from home have encouraged the companies to adopt a highly sophisticated database security model, thus accelerating the platform's market growth during the COVID-19 period.

Segment Analysis

The global database security market is segmented on component, business function, deployment mode, organization size, end-user and region.

Growing adoption of data security software by key players to reduce the risk of misuse or data breaching has improved the segmental growth of software in the database security market

The global database security market is segmented into services and software based on components. The software segment dominated the market in terms of sales in 2021. The segment is categorized into database auditing and reporting, encryption and tokenization, data masking and redaction, access control management, etc. The database auditing and reporting segment has significantly grown in the past few years. The software related to that track and understand the records and gives visibility into any risks of misuse or breaches. Furthermore, auditing also provides insight into which records were touched, when and by whom.*

Thus, companies favor regular database audits to run the business more smoothly and securely. Furthermore, encryption and tokenization are other categories for the segment which has shown growth in the past few years as key players use them to attain an excellent level of security. Tokenization in data security can replace sensitive data, including credit card numbers, with unique identification data while extracting all the information about the data.

Geographical Analysis

Growing cyber crimes and increasing government investment in data security has escalated the growth of the market in the region

North America has shown the largest number of cyber incidents worldwide and, thus, has shown tremendous demand for the database security market to grow in the region. For instance, nearly 60 million Americans have been affected by identity theft.

Thus growing cybercrimes have encouraged U.S. government to spend US$15 billion on cybersecurity-related activities in 2019, up 4% over the previous year, creating huge opportunities for data security to grow in the region in the forecast period.

Furthermore, banking and financial institutions have identified data security as the region's most critical economic concern. As a result, businesses are spending a large amount of money to improve their security infrastructure to maintain their brand image and reduce income loss. Budgetary allocations, government assistance and mandated data security rules will propel the database security market forward in the coming years.

For instance, U.S. Department of Homeland Security has awarded Peraton, a government-focused IT firm, a US$ 2.69 billion data center and cloud contract. U.S. and Canada are predicted to generate the most income in the region, with an extensive need for database security solutions to avoid cyber-attacks and commercial espionage and protect data security and privacy to maintain business continuity.

Competitive Landscape

The global database security market is highly competitive with local and global key players. Key players contributing to the market's growth are Oracle, IBM, Trustwave, McAfee, Cloudera, AWS, Microsoft, Micro Focus, Imperva, Alibaba Cloud, Huawei, Mak Logic, Thales Group, Tencent, Trend Micro, Hashicorp, Datasparc, Optiv Security, Zimcom, among others.

The major companies are adopting several growth strategies such as product launches, acquisitions and collaborations, contributing to the global growth of the database security market.

• For instance, on November 18, 2020, Open Raven announced the debut of a modern data security platform that provides enterprise data protection visibility and control. The platform was created using an open-source core and is available under the Apache 2.0 license as an elegant solution to complicated data security issues. Furthermore, because it integrates effortlessly with an organization's existing tools and capabilities, the open raven platform will assist customers in better understanding, administering and assuring data security from a single location.

Imperva

Overview: Imperva is a cybersecurity leader aiming to secure data and access points. Customers trust Imperva worldwide to defend their apps, data and websites from cyber threats. Imperva protects businesses at every stage of their digital journey with an integrated approach that combines edge, application and data security. Imperva Research Labs and our global intelligence network allow us to remain ahead of the threat landscape and seamlessly integrate our products' most up-to-date security, privacy and compliance expertise. In 2020 - Imperva, Inc. (Imperva) announced the acquisition of Optiv Security, the leader in contemporary database security.

Product Portfolio: Imperva Data Security Fabric: With an integrated, proactive approach to visibility and predictive analytics, Imperva's Data Security Fabric is the only data-centric solution that enables security and compliance teams to swiftly and efficiently secure critical data no matter where it lives.

Key Development

• On July 23, 2020, Optiv Security was an all-in-one database security platform that offered comprehensive database coverage and enhanced, actionable security intelligence. Since its 2013 inspection, the company has gained the trust of some of the world's largest insurance, finance and healthcare organizations.

Why Purchase the Report?

• Visualize the global database security market segmentation by component, business function, deployment mode, organization size, end-user and region, highlighting key commercial assets and players.
• Identify commercial opportunities in the database security market by analyzing trends and co-development deals.
• Excel data sheet with thousands of global database security market-level 4/5 segmentation points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global database security market report would provide approximately 77 market data tables, 76 figures and 220 pages.

Target Audience 2022

• Service Providers/ Buyers
• Automotive
• Research Laboratory
• Oil and Gas Company
• Manufacturers
• Energy & Utilities Companies
• Distributors