Standardization of Data Protection Rules
Data protection rules and regulations changed over the decade owing to the incorporation of smart technologies and new working models among the companies. Several news reforms and infrastructure are demanding modern techniques of data protection. The Swiss Data Protection Act (DSG) was revised in September 2020 (revFADP) to include stricter provisions focused on protecting the privacy rights of personal data during processing. It is expected to enter into force in 2022. Additionally, some new provisions are very similar to their GDPR counterparts. These include the right to be forgotten, the right to data portability, the requirement for periodic Data Protection Impact Assessments (DPIA), and reporting obligations in the event of a breach. Thus, the growing stringent rules pushed organizations towards more data-centric security approaches, is driving the market growth.
Market Overview
The Europe data-centric security market is spread across Germany, France, Russia, the UK, Italy, and the rest of Europe. The adoption of data-centric security solutions is expected to increase as internet penetration increases in major European countries. In addition, expanding wireless networks serving mobile devices has increased data vulnerability. Implementing EU legislation and actions rooted in the National Framework and the National Cybersecurity Plan is expected to facilitate the market's growth in the region. Since the publication in 2018 of the EU- General Data Protection Regulation (GDPR), new regulations have emerged in different countries to protect the personal data that organizations collect from employees, partners, customers, and other sources. The GDPR sets a high standard for consent, which will hugely impact the marketing industry. As part of its digital strategy, the Italian Government plans to invest significantly in the protection of digital identities to increase the security level of digital transactions and, subsequently, to strengthen consumers' trust by protecting citizens' identities. In addition, telecommunication companies are increasing their investment in data-centric security to deal with rapidly increasing data threats. For instance, Telefonica came up with Telefonica Tech Ventures in 2020 to seek strategic start-ups and develop its investment capabilities to invest in markets for Telefonica in Germany and other European countries. Each of these factors is expected to impact the growth of the European data-centric security market in the coming years.
Strategic insights for the Europe Data-Centric Security provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Europe Data-Centric Security refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.Europe Data-Centric Security Strategic Insights
Europe Data-Centric Security Report Scope
Report Attribute
Details
Market size in 2022
US$ 1,342.32 Million
Market Size by 2028
US$ 4,682.89 Million
Global CAGR (2022 - 2028)
23.2%
Historical Data
2020-2021
Forecast period
2023-2028
Segments Covered
By Component
By Deployment Mode
By Organization Size
By Verticals
Regions and Countries Covered
Europe
Market leaders and key company profiles
Europe Data-Centric Security Regional Insights
Europe Data-Centric Security Market Segmentation
The Europe data-centric security market is segmented into component, deployment mode, organization size, verticals, and country.
Based on component, the market is bifurcated into solution and service. The service segment is expected to register the larger market share in 2022. Based on deployment mode, the Europe data-centric-security market is segmented into cloud-based and on-premises. The cloud-based segment is projected to hold a larger market share in 2022. On the basis of organization size, the data-centric security market is segmented into small and medium enterprises and large enterprises. In 2022, the large enterprises is expected to hold the largest market share.
In terms of verticals, the Europe data-centric-security market is categorized into government and defense, healthcare & pharmaceuticals, IT and telecommunication, BFSI, and others. The IT and telecommunication segment is projected to hold the largest market share in 2022.
Based on country, the market is segmented into France, Germany, Italy, UK, Russia, and the Rest of Europe. The UK dominated the market share in 2022. Broadcom Corporation, Forcepoint, IBM Corporation, Imperva, Informatica Corporation, Micro Focus, NetApp, Orange Cyberdefense, Talend, and Varonis are the leading companies operating in the data-centric security market in the region.
The Europe Data-Centric Security Market is valued at US$ 1,342.32 Million in 2022, it is projected to reach US$ 4,682.89 Million by 2028.
As per our report Europe Data-Centric Security Market, the market size is valued at US$ 1,342.32 Million in 2022, projecting it to reach US$ 4,682.89 Million by 2028. This translates to a CAGR of approximately 23.2% during the forecast period.
The Europe Data-Centric Security Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Data-Centric Security Market report:
The Europe Data-Centric Security Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Data-Centric Security Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Data-Centric Security Market value chain can benefit from the information contained in a comprehensive market report.