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“Dynamic business natures and explosion of business data volumes are expected to drive the data masking market growth”
The global 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%. Rise in organizational data volume, compliance with privacy regulations, and protecting data from unnecessary internal exposure and external service providers are some of the factors that have significantly fueled the growth of the data masking market. However, limited efficiencies to hide all the content of the data, is one of the major restraining factors for the data masking market.
“Finance as a business function is expected to hold the largest market size during the forecast period”
Considering the significant demand among the enterprise for securing their finance-related data, need for data masking and better security solutions are expected to play a major role in the expansion of this market. Data-driven finance has enforced accounts department in every organization to store and maintain financial data which comprises huge monetary transactions, which if leaked, the company is likely to face issues with its reputation and monetary losses in the market, and also with regulatory directives such as PCI DSS, HIPAA, along with other enforced laws. This can be considered as the major factor for the growth of data masking market in this business function.
“Asia Pacific (APAC) is projected to grow at the highest rate during the forecast period”
The data masking market growth in the APAC region has started to gain momentum and is expected to witness the highest growth rate in the coming years. The rapid digitization among developing countries such as India, China, and Singapore has resulted in the production of the bulk of unstructured data. The region has shown unexplored potential in the higher adoption of data security solutions, which can be attributed to the evolving regulations that are encouraging many multi-national operators to enter this market for business expansion. Furthermore, increasing awareness has attributed to the continuous emphasis of companies in improving customer service to drive competitive differentiation and revenue growth. This is one of the major factor driving the adoption of data masking solutions in this region
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.
The break-up of the profiles of the primary participants is given below:
- By Company: Tier 1: 22%, Tier 2: 30%, and Tier 3: 48%
- By Designation: C-level: 30%, Director level: 45%, and Others: 25%
- By Region: North America: 48%, Europe: 30%, and APAC: 22%
The key vendors profiled in the report are as follows:
1. IBM Corporation (US)
2. Informatica (US)
3. CA Technologies, Inc. (US)
4. Solix Technologies, Inc. (US)
5. Innovative Routines International, Inc. (US)
6. Oracle Corporation(US)
7. Deplhix (US)
8. MENTIS (US)
9. Micro Focus (US)
10. Compuware Corporation (US)
11. Ekobit d.o.o. (Croatia)
12. ARCAD Software (France)
The report segments the data masking market based on data masking type, which is segmented into static data masking and dynamic data masking. It is then segmented by components which are further segmented into software and services. Services are further categorized into managed services and professional services. Under professional services, the report is further segmented into support and maintenance, and consulting services. Based on deployment type, the market is segmented into on-premises and cloud. Under organization size, it is segmented into Small and Medium-Sized Enterprises (SMEs) and large enterprises. Further, under industry verticals, the market includes retail and eCommerce, manufacturing, government and defense, healthcare and life sciences, telecommunications and IT, media and entertainment, Banking, Financial Services, and Insurance (BFSI), and others (logistics and transportation, travel and hospitality, and utilities). The regions are segmented into North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.
Reasons To Buy the report
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the data masking market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different industry verticals and regions.
- The report helps stakeholders to understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to better understand the competitors and gain more insights to enhance their position in the business.
- The competitive landscape section includes new product launches/developments; partnerships and collaborations; mergers and acquisitions; and expansions