According
to the new market research report "Data Masking
Market by Data Masking Type (Static
and Dynamic), Component (Software and Services), Deployment Type, Organization
Size, Business Function (Finance, Marketing & Sales, Operations, and
Legal), Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets™,
the data masking market size is expected to grow from USD
384.8 Million in 2017 to USD 767.0 Million by 2022, at a Compound Annual Growth
Rate (CAGR) of 14.8%.
The
need to protect data from unauthorized exposures is the key factor driving the
data masking market. Nowadays business operations are getting complex with the
rising customers and enterprise data, coupled with the rapidly evolving market
landscape. Furthermore, constant advancements in technology may result in
various data related threats such as cyber attacks and internal data breaches,
which are some of the major concerns encouraging enterprises to safeguard their
data, at every possible level.
Browse and
in-depth TOC on "Data Masking
Market"
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The retail and eCommerce vertical is expected to have the largest
market share during the forecast period
In terms of
industry verticals, the retail and eCommerce vertical is expected to hold the
largest market share throughout the forecast period. Organizations operating in
this industry are using data masking to maintain their brand image in the
market and to ensure the security of customer’s sensitive data. Need for
solutions which would help organizations to minimize frauds is the major reason
for the rising adoption of data masking solutions among this vertical.
Moreover, the increasing adoption of cloud is also driving the adoption of data
masking solutions.
The dynamic data masking type is expected to grow at a higher CAGR
during the forecast period
The dynamic
data masking type aims at real-time data masking. The market for dynamic data
masking is expected to grow at a higher CAGR during the forecast period. Growth
can be attributed to the rising demand for decreasing the risk of data
breaching. Additionally, dynamic data masking solutions safeguard sensitive and
personal data while providing security to cloud-based initiatives which is
further accelerating the adoption of dynamic data masking globally.
Furthermore, increasing need for protected big data by dynamically masking
sensitive information in Hadoop is further expected to observe a robust growth
during the forecast period.
North America is expected to constitute the largest market share;
APAC to grow at the highest CAGR during the forecast period
North
America is expected to continue its dominating position during the forecast
period. This can be attributed to the presence of developed economies such as
Canada and US, which are emphasizing over innovating the existing solutions.
North America contributes a major share in the generation of data, and thus
data security and protection share are in great demand in this region.
Furthermore, the early adoption of technologies and penetration of analytics in
multiple verticals such as manufacturing, healthcare, transportation, and
logistics is driving the growth of data masking market in this region. On the
other hand, Asia Pacific (APAC) region is expected to grow at the highest CAGR
during the forecast period. Growing expenditures over technology in countries
such as China and India and the demand for cost-effective advanced data
protection solutions and services among SMEs, are expected to drive the market
growth during the forecast period.
Major
vendors offering data masking solutions and service include IBM Corporation
(US), Informatica (US), CA Technologies, Inc. (US), Solix Technologies, Inc.
(US), Innovative Routines International, Inc. (US), Oracle Corporation
(US), Deplhix (US), MENTIS (US), Micro Focus (US), Compuware Corporation (US),
Ekobit d.o.o. (Croatia), and ARCAD Software (France). These players have
incorporated various strategies to expand their global presence, thus
increasing their market shares. The strategic partnership, merger and
acquisitions, product upgrades, and expansions are some of the major strategies
embraced by these players.
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Research Insight: https://www.marketsandmarkets.com/ResearchInsight/data-masking-market.asp
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/data-masking-market.asp
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