The database security market is projected to reach US$ 16,273.8 million by 2028 from US$ 6,396.5 million in 2021; it is estimated to grow at a CAGR of 14.3% from 2021 to 2028.
Companies maintain vast database comprising customer records, financial records, and many more. Regular audits are required to precisely monitor such databases and protect them from cyberattacks. The cybersecurity threats to databases depend on factors such as network security, authentication, and encryption. The application of database security helps in protecting the data from unlicensed access owing to which it is increasingly being adopted to protect legacy databases. Thus, the implementation of database security tools proves to be a better decision for organizations that are not capable of securing a database server from hackers. One of the major types of attacks witnessed on the company’s database is SQL injection, which can easily enter through an application and lead to security breaches. The database security solutions provide protection against, both, external and internal attacks. Major factor impacting the database is poor change management during upgrade cycles. Database security software helps reduce the chances of unwanted changes and provide accountability, which is driving the database security market growth.
In 2022, there has been a surge in the expansion of cloud-based applications and services across the world; over the next two years, three out of every four enterprises (75%) are planning to build more applications on the cloud. The cloud has gone beyond being just a foundation for the development of new applications, and it is quickly becoming a popular and preferred location for hosting existing business-critical apps. Enterprises plan to use cloud platforms for new and expanded purposes, whether they are early in the adoption cycle or seasoned cloud users is creating huge opportunities for the market players to design efficient Database Security across both economies.
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Company Profiles
• Datasparc Inc.
• SAP SE
• ScaleGrid
• MICRO FOCUS
• Thales
• Oracle Corporation
• IBM Corporation
• McAfee
• Fortinet
• Trustwave
Impact of COVID-19 Pandemic on Database Security Market
The COVID-19 pandemic has severely affected North American countries, especially the US. The adoption and growth of new technologies owing to favorable government policies the presence of a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada is boosting the development of database security solution. Hence, any impact on the growth of industries is expected to hamper the region's economic growth. Presently, the US is the world's worst-affected country due to the COVID-19 outbreak. The country is a prominent market for database security. An exponential spread of the disease in the country have positively affected the businesses of software providers. North America is home to many technology companies, and the impact of the COVID-19 outbreak was high in 2022 and the first quarter of 2021.
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Database Security Market Segmentation:
By Component
• Solution
• Services
By Organization Size
• SME
• Large Enterprise
By Industry
• BFSI
• IT & Telecom
• Manufacturing
• Healthcare
• Government
• Retail
• Others
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