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The Global Database Security Market size is expected to reach $7.8 billion by 2023, rising at a market growth of 17% CAGR during the forecast period. The need for sophisticated security solutions and stringent regulatory frameworks are the factors that are driving the market growth during the forecast period. The connected world with various devices interconnected poses various challenges to organizations. The connected devices generate large volumes of data and it needs to be managed and stored appropriately. With the adoption of IoT solutions, organizations operating in various verticals such as manufacturing and mining, now deal with different types of data such as inventory control and production, and data captured from remote sensors in mining operations. With substantial data being generated at various levels, the need to manage database is vital with appropriate security solution within a single platform. Limited security budgets and high installation cost of solutions act as major restraining factors. Limited awareness about multi-layered security and minimal skilled workforce are further limiting the market expansion.
Based on Type, the Database Security market segments the market into Software and Services. Software includes Encryption & Tokenization, Database Auditing & Reporting, Data Masking & Redaction, Access Control Management, and Others. Services include Professional and Managed Services. Based on Business Function, the market report segments the market into Finance, Sales, Marketing, Operations, and Others. Based on Organization Size, the Database Security market segments the market into Small & Medium Enterprises and Large Enterprises. Based on Deployment Mode, the market report segments the market into Cloud and On-Premise. Based on Vertical, the Database Security market segments the market into BFSI, Government, Energy & Utilities, Healthcare, Manufacturing, Retail, Telecom & IT, Education, and Others. Based on Regions, the Database Security market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the competition analysis of key stake holders of the Database Security Market. Key companies profiled in the report include Oracle Corporation, IBM Corporation, Fortinet, Inc., McAfee LLC, Micro Focus (Formerly Hpe Software), Imperva, Inc., Singtel (Trustwave),Thales Group S.A. (Thales E-Security),Huawei Technology Co. Ltd. (HexaTier), and Gemalto NV..