The Global Data Masking Market size is expected to reach $2.2 billion by 2031, rising at a market growth of 11.8% CAGR during the forecast period.
Many IT and telecom companies outsource certain functions or provide access to third-party vendors for various services. Consequently, the IT and telecom segment would generate 17.2% revenue share of the market by 2031. While this can streamline operations, it also increases the risk of data exposure. Data masking allows companies to share data with third parties for tasks like software development, testing, or analytics while protecting the confidentiality of sensitive information.
The introduction of stringent data privacy regulations such as the General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), and other global privacy laws has mandated organizations to protect sensitive information and ensure individuals' privacy rights are upheld. Therefore, the rising demand for data privacy solutions drives the market's growth.
Additionally, AI and ML algorithms can automatically discover and classify sensitive data within large datasets, including personally identifiable information (PII), financial data, and healthcare records. This capability is essential for effective data masking, as it enables organizations to identify which data elements need to be protected and apply masking techniques accordingly. In conclusion, the emergence of AI and machine learning propels the market's growth.
However, Organizations often have vast and diverse datasets containing various types of sensitive information, including structured and unstructured data, across multiple data sources and formats. Identifying, classifying, and masking sensitive data within such diverse datasets can be daunting. Thus, complexity and implementation challenges are hampering the market's growth.
Many IT and telecom companies outsource certain functions or provide access to third-party vendors for various services. Consequently, the IT and telecom segment would generate 17.2% revenue share of the market by 2031. While this can streamline operations, it also increases the risk of data exposure. Data masking allows companies to share data with third parties for tasks like software development, testing, or analytics while protecting the confidentiality of sensitive information.
The introduction of stringent data privacy regulations such as the General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), and other global privacy laws has mandated organizations to protect sensitive information and ensure individuals' privacy rights are upheld. Therefore, the rising demand for data privacy solutions drives the market's growth.
Additionally, AI and ML algorithms can automatically discover and classify sensitive data within large datasets, including personally identifiable information (PII), financial data, and healthcare records. This capability is essential for effective data masking, as it enables organizations to identify which data elements need to be protected and apply masking techniques accordingly. In conclusion, the emergence of AI and machine learning propels the market's growth.
However, Organizations often have vast and diverse datasets containing various types of sensitive information, including structured and unstructured data, across multiple data sources and formats. Identifying, classifying, and masking sensitive data within such diverse datasets can be daunting. Thus, complexity and implementation challenges are hampering the market's growth.
By Deployment Mode Analysis
Based on deployment mode, the market is categorized as cloud and on-premise. In 2023, the cloud segment attained a 36.8% revenue share in the market. Cloud deployment offers scalability and flexibility, allowing organizations to scale their data masking capabilities based on changing business needs and data volumes. Cloud-based data masking solutions can quickly adapt to fluctuations in workload and demand, ensuring that organizations can effectively protect sensitive data regardless of scale or complexity.By Component Analysis
By component, the market is bifurcated into solution and services. The solution segment witnessed 75.4% revenue share in the market in 2023. Organizations operate in increasingly complex data environments with data stored across various platforms, including databases, data warehouses, cloud services, and applications. Data masking solutions offer comprehensive tools and techniques to mask data consistently across these diverse environments, ensuring uniform protection of sensitive information.
By Type Analysis
On the basis of type, the market is segmented into static and dynamic. In 2023, the static segment attained a 33.9% revenue share in the market. In many organizations, sensitive production data is used for testing, development, or analytics purposes. Exposing this data to unauthorized users in non-production environments poses significant security and compliance risks. Static data masking allows organizations to mask production data permanently, ensuring that sensitive information is protected while retaining its utility for non-production purposes.By Business Function Analysis
Based on business function, the market is divided into finance, legal, sales & marketing, human resource (HR), operations, and others. In 2023, the finance segment garnered 38.2% revenue share in the market. Financial institutions handle vast amounts of sensitive data, including personal and financial information of their customers. Data breaches in the finance sector can lead to severe financial losses, reputational damage, and legal liabilities.By Enterprise Size Analysis
On the basis of enterprise size, the market is segmented into large enterprise and small & medium enterprise. The small & medium enterprise segment attained a 31.7% revenue share in the market in 2023. SMEs are increasingly targeted by cybercriminals due to the perception that they may have weaker cybersecurity defenses compared to larger enterprises. Data breaches can have devastating consequences for SMEs, including financial losses, reputational damage, and legal liabilities.By End-Use Analysis
By end-use, the market is divided into retail & eCommerce, government, BFSI, healthcare, media & entertainment, manufacturing, IT & telecom, and others. The BFSI segment registered a 27.8% share in the market in 2023. BFSI companies handle vast amounts of sensitive customer financial data, including account numbers, credit card details, and transaction history. This information is highly valuable to cybercriminals seeking to conduct fraudulent activities, such as identity theft or financial fraud.By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated a 28.5% revenue share in the market. Many countries in the Asia Pacific region are experiencing rapid digitization across various sectors, including healthcare. As organizations transition to digital platforms and electronic data storage systems, the need to protect sensitive information from unauthorized access becomes critical, driving the demand for data masking solutions.Recent Strategies Deployed in the Market
- Dec-2023: Solix Technologies, Inc. extended the capabilities of its flagship Solix Common Data Platform (CDP), a platform that delivers cloud data management as a service for modern data-driven enterprises. Solix CDP 3.0 offers secure and compliant data collection, metadata management, and data governance. Additionally, Solix CDP offers the best security practices, including encryption, data masking, redaction, and role-based access control over the data.
- Jun-2023: Informatica Inc. took over Privitar Ltd., a developer of access controls and remediation for data privacy and security. Under this acquisition, Informatica will integrate Privitar's technology into its Intelligent Data Management Cloud, which serves as a platform for analyzing and overseeing data within extensive corporate environments.
- May-2023: IBM Corporation has announced the acquisition of Polar Security, a trailblazer in data security posture management. Through this acquisition, IBM intends to incorporate Polar Security’s DSPM technology into its Guardium family of top-tier data security products. By integrating Polar Security’s DSPM technology, IBM Security Guardium will offer security teams a comprehensive data security platform covering all data types across various storage locations, including SaaS, on-premise, and public cloud infrastructure.
- Jun-2022: Informatica Inc. came into partnership with Snowflake Inc., a data cloud company. Under this partnership, the joint customers will be able to utilize the power of the Intelligent Data Management Cloud (IDMC) platform to integrate a variety of enterprise application data into the Snowflake Data Cloud.
- Dec-2020: Innovative Routines International (IRI), Inc. extended the capabilities of IRI FieldShield and DarkShield, data masking software. FieldShield 5 features extended capabilities, including Excel support, enabling data masking between spreadsheets and various structured sources such as database tables and flat files. Additionally, it seamlessly integrates with Azure Key Vault and Townsend Alliance Key Manager for efficient encryption key management.
List of Key Companies Profiled
- IBM Corporation
- Oracle Corporation
- Informatica Inc.
- Micro Focus International PLC (Open Text Corporation)
- Broadcom, Inc. (CA Technologies, Inc.)
- Solix Technologies, Inc.
- Delphix Corp. (Perforce Software, Inc.)
- ARCAD Software
- Innovative Routines International (IRI), Inc.
- Ekobit d.o.o. (Span Plc)
Market Report Segmentation
By Deployment Mode- On-premise
- Cloud
- Solution
- Services
- Dynamic
- Static
- Finance
- Operations
- Sales & Marketing
- Legal
- Human Resource (HR) & Others
- Large Enterprise
- Small & Medium Enterprise
- BFSI
- Government
- Healthcare
- IT & Telecom
- Media & Entertainment
- Manufacturing
- Retail & eCommerce
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Global Data Masking Market by Deployment Mode
Chapter 5. Global Data Masking Market by Component
Chapter 6. Global Data Masking Market by Type
Chapter 7. Global Data Masking Market by Business Function
Chapter 8. Global Data Masking Market by Enterprise Size
Chapter 9. Global Data Masking Market by End-use
Chapter 10. Global Data Masking Market by Region
Chapter 11. Company Profiles
Companies Mentioned
- IBM Corporation
- Oracle Corporation
- Informatica Inc.
- Micro Focus International PLC (Open Text Corporation)
- Broadcom, Inc. (CA Technologies, Inc.)
- Solix Technologies, Inc.
- Delphix Corp. (Perforce Software, Inc.)
- ARCAD Software
- Innovative Routines International (IRI), Inc.
- Ekobit d.o.o. (Span Plc)
Methodology
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