Data Masking Market is expected to grow at a CAGR of 11.36%
Increasing Cybersecurity Threats and Rising Awareness of Data
Security are factors driving the Global Data Masking Market in the forecast period.
According
to TechSci Research report, “Data
Masking Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast 2017-2027”, the Global Data Masking Market is
expected to register robust growth during the forecast period. Data masking is an intelligent
technology that provides real-time data masking of production data. Data
masking technology allows for analyzing large amounts of data without
disrupting routine company processes. In other words, data masking technology
produces a fake but realistic version of organizational data to safeguard
sensitive organizational information.
The
increasing need for decreasing the risk of data breaching is fueling the
dynamic data masking market growth, which is expected to execute the fastest
growth rate over the forecast period. Besides, active data masking helps to
protect sensitive and personal data while supporting outsourcing, offshoring,
and cloud-based initiatives.
Furthermore,
considering the significant demand among enterprises for securing their
financial data, the requirement for data masking and better security solutions
is projected to play a vital role in the market's growth. Data-driven finance
has mandated that every organization have an accounting department to store and
maintain financial data that includes large monetary transactions that, if
leaked, could result in issues with the company's reputation and monetary
losses in the market, as well as issues with regulatory directives such as PCI
DSS, HIPAA, and other enforced laws. This is the most crucial reason driving
the growth of the data masking market in this business function.
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over XX market data Figures spread through XX Pages and an in-depth TOC on the "Global
Data Masking Market"
Based
on End User sector, the
BFSI segment is expected to dominate the market during the forecast period. The
BFSI industry is one of the critical infrastructure segments that face multiple
data breaches and privacy issues, owing to the massive customer base that the
sector serves and the financial information at stake. Cybercriminals are
optimizing various diabolical cyberattacks to immobilize the financial sector
as a highly lucrative operation model with phenomenal returns and the added
upside of relatively low risk and detectability. These attacks' threat
landscape ranges from Trojans, ATMs, ransomware, mobile banking malware, data
breaches, institutional invasion, data thefts, fiscal breaches, etc.
Banks,
insurance firms, credit bureaus, and lenders rely on data to understand and
build deeper relationships with their consumers and determine whether the
market fluctuates and maintains stable growth. However, this valuable data is
being sought by both cybercriminals and insiders, and data privacy regulators
are growing more demanding in their compliance requirements. Data masking tools
help to safely design innovative, personalized experiences for their customers.
Based
on Region, Asia Pacific is projected to dominate the market throughout the
forecast period. The Asia Pacific is
expected to witness a higher growth rate than other regions because developing
countries, such as India and China, are the world's two biggest economies.
Automotive industries in the region increased over the past few years. The
growth in these industries was propelled by a vast population shift and an
increase in disposable incomes, which resulted in higher demand.
Currently,
these two countries are growing faster, and many developmental activities are
being done here to set up new manufacturing industries and product launches.
All these activities contribute to big data. Lots of data are being stored
daily, which is very crucial. The rapid digitization among developing
countries, such as India, China, and Singapore, has produced the bulk of
unstructured data.
Furthermore,
owing to technological advancements, there is an increase in the number of
connected devices in China. It is the largest global Internet of Things (IoT)
market. Furthermore, 5G and 5 G-enabled devices will exponentially increase the
devices' interconnectivity. As a result, it increases connected devices,
directly augmenting the market's need for security products. The websites are
thereby prone to be manipulated and impersonated by third parties, and
sensitive user data communicated with the website can be intercepted more
easily by foreign intelligence agencies.
On
the other hand, the increasing adoption of public cloud computing is leading to
more enterprises re-allocating their business systems to cloud platforms.
Issues concerning data security, tenant isolation, access control, etc., have
gradually become a focal point of these enterprises.
Key
market players in the Global Data Masking Market are:-
- IBM
- Informatica
- CA Technologies
- Solix
- IRI
- Delphix
- Mentis
- Micro Focus
- Oracle
- Compuware.
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“The
Global Data Masking Market is driven by a confluence of factors that underscore
the critical importance of data security. Increasing cybersecurity threats,
stringent data privacy regulations like GDPR and CCPA, and the proliferation of
big data and analytics fuel the demand for data masking solutions. The rising
adoption of cloud services and the globalization of businesses amplify the need
for comprehensive data protection. Additionally, the integration of data
masking into DevOps practices, industry-specific compliance requirements, and
technological advancements contribute to the market's growth. As organizations
prioritize insider threat protection and user education on data security, the
market experiences a dynamic shift driven by a collective commitment to fortify
sensitive information against evolving risks.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Data
Masking Market - Global Industry Size, Share, Trends, Opportunity, and Forecast
Segmented By Type (Static Data Masking, Dynamic Data Masking), By Function (Finance,
Operations, Marketing & Sales, Human Resource, Legal and Others),
Deployment (Cloud, On-premise), By Organization Size (Large Enterprises and Small
and Medium Sized Enterprises), By End Use Sector (IT & ITeS, BFSI, Retail
and eCommerce, Government, Healthcare and Others), By Region, and By
Competition 2027” has evaluated the future growth
potential of Global Data Masking Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Data Masking Market.
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