Market Overview 

Market Research Future (MRFR) reveals that the data masking market can touch an approximate valuation of USD 71.75364509 billion by 2032. MRFR also expects the market progress to be at a rate of 21.43% over the evaluation period (2023-2032). We will provide covid-19 impact analysis with the report. The COVID-19 impact on the market has been studied in the report, which offers an in-depth analysis post the coronavirus disease outbreak.

COVID-19 Analysis 

Following the onset of SARS-CoV-2, the IT industry has become quite vulnerable, with hackers trying to exploit this period of uncertainty to gain access to confidential information. With the growing unpredictability due to the COVID-19 outbreak, there has been a sharp rise in phishing emails, attacks by attempting to access business emails along with the rising deployment of malware to demand payment or obtain user credentials. All these challenges are mounting exponentially with the growing spread of the novel coronavirus; therefore more and more ICT companies are revisiting their cyber-security policies as well as measures, by adopting techniques like data masking to help avoid breach of confidential data from hackers to reduce security risks.

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Top Boosters and Main Barriers 

Dynamic data masking is largely used for analyzing big data while ensuring their interrupted operations in the business. Companies mostly opt for the data masking technology to analyze and test data. The rapid expansion of the IT infrastructure, surge in cyber-attacks challenging the enterprises, and the increasing spending on the security and safety for confidential and private data are prompting a number of vendors to expend significantly on technologies that support data masking. 

The mounting awareness regarding data masking and related technology has resulted in companies shifting their focus on the improvement of customer service. The growing knowledge about the technology and its benefits across diverse industries can prove to be a major growth booster in the worldwide market. 

The market can find lucrative opportunities in the healthcare industry, as data masking is used for improving the delivery of healthcare services. Electronic health record or EHR is extensively deployed to gain access to patient information in the healthcare industry. Further, the administrative as well as the financial staff in the hospitals make use of various applications to track the hospital performance, in terms of finance and success rates. For instance, in June 2020, Snowflake launched Data Cloud, a solution that can be deployed by healthcare organizations for navigating the COVID-19 impact. The solution features data masking, which helps protect data so that the customers are able to view data with different levels of fidelity on the basis of their permissions.

Market Segmentation 

The data masking technology market has been considered for type, component, deployment, business function, organization size, and end user.

The types of data masking are static data masking as well as dynamic data masking. 

The component-based market categorization comprises services and software. 

The segments, depending on deployment, are on-cloud and on-premise. 

In terms of functional business, the data masking industry caters to finance, legal, marketing & sales, operations, human resource, and others. 

The size ranges of the organizations that use the technology include large enterprises as well as small & medium enterprise.

The primary end-users in the industry are manufacturing, media & entertainment, government & defense, BFSI, IT & telecommunications, retail & ecommerce, healthcare & life sciences, and more.

Data Masking Industry Developments:

The data masking industry is growing rapidly, as organizations of all sizes are increasingly adopting data masking solutions to protect their sensitive data. Some of the key trends driving the growth of the data masking market include:

  • Increased awareness of data security risks. As data breaches become more common, organizations are becoming more aware of the need to protect their sensitive data. Data masking is a critical tool for protecting data from unauthorized access, theft, and misuse.
  • Growing adoption of cloud computing. The increasing adoption of cloud computing is also driving the growth of the data masking market. Cloud-based data masking solutions offer a number of advantages over traditional on-premises solutions, including scalability, flexibility, and cost-effectiveness.
  • Rise of big data analytics. The rise of big data analytics is also creating new demand for data masking solutions. Data masking is essential for ensuring that sensitive data can be analyzed without compromising its security.

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Top Companies:

The top companies listed in the market study include Hewlett Packard Enterprise Company. (U.S.), Delphix Corp (U.S.), Ekobit d.o.o. (Croatia), IBM Corporation (U.S.), Net 2000 Ltd. (U.S.), Camouflage Software Inc. (Canada), ARCAD Software (France), Oracle Corporation (U.S.), Solix Technologies, Inc (U.S.), Compuware Corporation (U.S.), Innovative Routines International, Inc (U.S.), Informatica Corporation, (U.S.), CA Technologies (U.S.), and more.

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