Report : Europe Database Security Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solution and Service), Organization Size (SMEs and Large Enterprise), and Industry (BFSI, IT and Telecom, Manufacturing, Healthcare, Government, Retail, and Others)
Large Enterprises Segment to Dominate Europe Database Security Market during 2021–2028
According to a new market research study on “Europe Database Security Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Organization Size, and Industry” is expected to reach US$ 5005.82 million by 2028 from US$ 1833.86 million in 2021. The market is estimated to grow at a CAGR of 15.4% from 2021 to 2028. The report provides trends prevailing in the Europe database security market along with the drivers and restraints pertaining to the market growth. Exponential rise in potential for cyberattacks with popularity of internet of things and bring-your-own-device concepts is the major factor driving the growth of the Europe database security market. However, issues associated with the lack of awareness about multilayered security hinder the growth of Europe database security market.
The Europe database security market is segmented into component, organization size, industry, and country. Based on component, Europe market is divided into software and services. The solution segment dominated the market in 2020 and services segment is expected to be the fastest growing during the forecast period. By organization size, the Europe market is broadly classified into SMEs and large enterprise. The large enterprises segment dominated the market in 2020 and SMEs segment is expected to be the fastest growing during the forecast period. On the basis of industry, the market is segmented into BFSI, and IT and telecom, manufacturing, healthcare, government, retail, and others. The BFSI segment dominated the market in 2020 and others segment is expected to be the fastest growing during the forecast period. Based on country, the database security market is classified into Germany, UK, France, Italy, Russia, and Rest of Europe.
Spain, Italy, Germany, UK, and France are some of the worst affected member states in the European region due to the COVID-19 outbreak. Businesses in the region are facing severe economic difficulties as they had either to suspend their operations or reduce their activities in a substantial manner. Owing to business shutdown, the region is anticipated to face an economic slowdown in 2020 and most likely in 2021 also. The member states of Europe, such as Italy, Spain, and Germany, have implemented drastic measures, travel restrictions, and shutdown of schools and colleges to limit the spread of coronavirus among its citizens. However, the COVID-19 crisis positively impacted the growth of some sectors, such as software and technology. The demand for digital solutions, especially has grown at a high rate in the past few months. A significant number of corporates have taken significant initiatives to volunteer to the affected areas. As a result, the adoption rate of volunteering platform is expected to grow in the coming years to manage all the operations. Italy, Spain, Germany, UK, and France database security markets are anticipated to see the moderate impact in 2020. However, this impact is temporary and is expected to drive SMEs to adopt digital solutions in the coming years.
Fortinet,Inc.; IBM Corporation; McAfee, LLC; Micro Focus; Oracle Corporation; SAP SE; Thales Group; and Trustwave Holdings, Inc. are among the leading companies in the Europe database security market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, IBM acquired 100 percent of the outstanding shares of Red Hat, Inc. (Red Hat). Red Hat is reported within the Cloud & Cognitive Software segment, in Cloud & Data Platforms. With acquisition they have strong market position in database security market.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com