Global Data Masking Market Overview
The key driver impacting the data masking market is an augmentation in data breaches and malware attacks. For instance, The Identity Theft Resource Center's (ITRC) End-of-Year Data Breach Report for 2019 shows that the number of data breaches in the U.S. hit 17% in 2019. Data breaches cases in the United States reached 1,473 in 2019 from 1,257 in 2018. The healthcare and medical sector recorded the second-highest number of breaches and revealed sensitive records of all the sectors tracked. About 525 healthcare and medical-related data breaches took place in 2019, revealing over 39 million sensitive records. Moreover, the rising need to present enhanced customer services contributes to data masking market demand in the coming years.
According to Value Market Research, the global Data masking market size was valued at around USD 485 million in 2020 and is estimated to grow at a CAGR of about 13.69% during the forecast period 2021 to 2027.
The strict regulations and reforms made by the government of various nations for data protection and security are likely to augment the demand in the forecast period. For instance, In 2018, EU General Data Protection Regulation (GDPR) get the legal effect to modify the whole data capture, storage, and processing arena. As per the GDPR, businesses must protect and handle personal data, with a precise focus on individual privacy and rights. Similarly, in Australia, on February 22, 2018, the Australian government passed the Privacy Amendment (Notifiable Data Breaches) Act 2017 (Cth), which got enacted in 2018. However, the complexities in data integration & customization may hamper the market in the long run. Also, loopholes in recognizing sensitive data are still not achievable is negatively impact the market. The current industry trends, such as the mounting integration of artificial intelligence and machine learning capabilities to enhance customer experience and information management, and escalating investments in automation to enable quicker decisions, are expected to offer several beneficial market opportunities to the key players.
The Data masking market is vast, with many local and global players. The Data masking market is extensive, with many regional and international players. The prominent market leaders follow several strategies to improve their market status, such as extending product portfolio, acquisitions, contracts, acquisitions, amalgamation, acquisitions, product upgrades to mount their market share across the globe. The prominent players studied in the report include Informatica Corporation, IBM Corporation, Camouflage Software Inc., CA Technologies Delphix Corp, Oracle Corporation, Compuware Corporation, Hewlett Packard Enterprise Company, and Net 2000 Ltd.
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In this research report, the data masking market is segmented by type, end-user industry, and region.
Analysis by Type:
By type, the report is categorized into static and dynamic. The static segment dominates the type segment with over 55% in the forecast period. It is because static data masking is a recognized technology proficient in protecting a large swath of the data within the organization. Also, SDM is majorly accustomed to giving high-quality data for testing and developing applications without revealing sensitive information contributes to the high demand for static type segment growth in the forecast period.
Analysis by End-User Industry:
By end-user industry, the report is categorized into BFSI, healthcare, IT and telecom, retail, government and defense, manufacturing, media and entertainment, and other end-user industries. The healthcare segment dominates the end-user industry segment with over 25% share in 2020. It is because the healthcare industry uses information technology to support both doctors and patients and to improve the delivery of healthcare services. Moreover, growing malware attacks in the healthcare sector as hospital administrative and financial staff utilized numerous applications to monitor hospital performance in terms of treatment success rate and financial efficiency contributes to the high demand of data masking from the healthcare sector in the forecast period.
Analysis by Region:
In the regional outlook of the global Data masking market, the North America region dominates globally with a 30% market share in the forecast period. It is due to the presence of developed economies such as the US and Canada, which are stressing over innovating the existing solutions. Also, growing data breach cases and malware attacks in healthcare and other industries add growth to the market. Moreover, high technology adoption and the presence of well-established IT infrastructure, and the presence of key players such as Oracle and IBM contribute to tremendous market growth across North America.
Market Segmentation covered in the Report:
By Type
By End-User Industry
- BFSI
- Healthcare
- IT and Telecom
- Retail
- Government and Defense
- Manufacturing
- Media and Entertainment
- Other
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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