Data masking software and services enable business users to protect their sensitive data by replicating existing data with the dummy data, to secure it from external and internal possible threats. Additionally, as regulations continue to change, and management of critical information and data security becomes major issues, organizations are in need of solutions which would enable the management of data while adhering to the law and keeping the company’s operations both safe and compliant. MarketsandMarkets forecasts the global Data Masking Market to grow to USD 767 million by 2022, at a Compound Annual Growth Rate (CAGR) of 14.8% during the forecast period. The major growth drivers of the data masking market include a rise in organizational data volume, regulatory compliance with privacy regulations, and protecting data from unnecessary internal exposure and external service providers.
Many organizations across various sectors have been utilizing data masking to ensure that their data security and privacy concerns are met. The growing importance of data protection is one of the major factors which is driving data masking practices over the cloud, also with developments made in the General Data Protection Regulation (GDPR) and other data protection laws is likely to attract new customers in the coming years. Owing to the increased outsourcing of work to third-party vendors due to flexible government taxation policies in various countries, organizations are in need of data security solutions to ensure the protection of sensitive data. Various teams work on testing and development operations which cannot be exposed to sensitive information. Thus, organizations are adopting data masking to replace data elements with their identical values, thus concealing selected data by creating a substitute that reflects the value of its original data.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=24977919
Some of the major business functions of the data masking market include finance, operations, marketing and sales, Human Resources (HR), legal, and others. Others include support and Research and Development (R&D). Marketing and sales is expected to witness the highest CAGR during the period of 2017–2022. Data masking solutions are used widely by major industries globally, such as Banking, Financial Services, and Insurance (BFSI); healthcare and life sciences; retail and eCommerce; telecommunications and Information Technology (IT); government and defense; media and entertainment; manufacturing; and others (logistics and transportation, travel and hospitality, and utilities) for different business needs. BFSI sector is expected to grow at the highest CAGR during the forecast period.
The region-specific market analysis includes industry trends, market potentials, and market forecasts on the basis of data masking types, components, business functions, deployment type, organization sizes, and verticals. The market is witnessing a rapid growth in various emerging regions, such as Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). The North American region is expected to have the largest market share for the next 5 years, followed by Europe. APAC is expected to be the fastest-growing region in the data masking market during the forecast period. Globally, the adoption of data masking is increasing due to the growing amount of business-critical data and increasing number of SMEs in the APAC region. Companies such as IBM Corporation (US), Informatica (US), CA Technologies, Inc. (US), Solix Technologies, Inc. (US), and Innovative Routines International, Inc.(US) offer a competitive product portfolio across these regions.
Speak to Our Expert Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=24977919
The data masking market includes an expansive number of vendors providing software and services, such as IBM Corporation (US), Informatica (US), CA Technologies, Inc. (US), Solix Technologies, Inc. (US), Innovative Routines International, Inc. (US), Delphix (US), MENTIS (US), Micro Focus (UK), Oracle Corporation (US), Compuware Corporation (US), Ekobit d.o.o. (Croatia), and ARCAD Software (France). The players in this business sector have embraced different strategies to extend their worldwide presence and market shares. Partnerships, new product launches, product upgradations, mergers and acquisitions, joint ventures, and expansions are said to be the significant strategies embraced by the market players in the data masking market.
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Address:630 Dundee Road Suite 430
Country: United States