Report : North America Database Security Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solution and Service), Organization Size (SMEs and Large Enterprise), and Industry (BFSI, IT and Telecom, Manufacturing, Healthcare, Government, Retail, and Others)
Solution Segment to Dominate North America Database Security Market during 2021–2028
According to a new market research study on “North America Database Security Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Organization Size, and Industry” is expected to reach US$ 5394.77 million by 2028 from US$ 2432.57 million in 2021. The market is estimated to grow at a CAGR of 12.1% from 2021 to 2028. The report provides trends prevailing in the North America database security market along with the drivers and restraints pertaining to the market growth. Increasing volumes of business data is the major factor driving the growth of the North America database security market. However, issues associated with the lack of awareness about multilayered security hinder the growth of North America database security market.
The North America database security market is segmented into component, organization size, industry, and country. Based on component, North America market is divided into software and services. The solution segment dominated the market in 2020 and services segment is expected to be the fastest growing during the forecast period. By organization size, the North America market is broadly classified into SMEs and large enterprise. The large enterprises segment dominated the market in 2020 and SMEs segment is expected to be the fastest growing during the forecast period. On the basis of industry, the market is segmented into BFSI, and IT and telecom, manufacturing, healthcare, government, retail, and others. The BFSI segment dominated the market in 2020 and others segment is expected to be the fastest growing during the forecast period. Based on country, the database security market is classified into US, Canada, and Mexico.
North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies to boost innovation, the presence of a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the economic growth of the region in a negative manner. Presently, the US is the world’s worst-affected country due to the COVID-19 outbreak. The US is a prominent market for database security in companies. The huge increase in the number of confirmed cases and rising reported deaths in the country has positively affected software providers to some extent due to the increase in demand for their database security software and services. The business shutdowns, as well as high health treatment costs across the US and Canada, are positively impacted the adoption of the database security market. North America region is home to many technology companies, and the impact of coronavirus outbreak is anticipated to be high in the year 2020 and likely in the first quarter of 2021. The impact of COVID-19 is short-term; it is likely to increase in the coming years.
Datasparc Inc.; Fortinet,Inc.; IBM Corporation; McAfee, LLC; Micro Focus; Oracle Corporation; SAP SE; ScaleGrid; Thales Group; and Trustwave Holdings, Inc. are among the leading companies in the North America database security market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, IBM acquired 100 percent of the outstanding shares of Red Hat, Inc. (Red Hat). Red Hat is reported within the Cloud & Cognitive Software segment, in Cloud & Data Platforms. With acquisition they have strong market position in database security market
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com