Data Masking Technology Market Overview
Data masking technology refers to data security through the replacement of existing sensitive information with duplicate data. This duplicate data can be used in business processes for analytics and testing purposes, without any risk. Data masking technology is an effective way for reducing the risk of sensitive data from inside and outside threats. It is performed in such a manner that actual values are retained along with functional and structural meaning of data. Enterprises, while looking for data masking technology, consider factors such as format preservation, data type preservation, semantic integrity, and uniqueness, which are of utmost importance while implementing technology in database.
The market is segmented on the basis of technology, which includes ETL, in-place masking, and dynamic masking. The application areas of data masking technology include BFSI, IT, telecommunication, energy, and automotive.
Data masking technology market makes highest revenue from BFSI sector. IT and telecommunication industries are investing heavily in this technology, as they face major challenges related to internal hacking and data privacy issues. Data masking technology market in healthcare is expected to show a robust growth, during the forecast period, as hospitals are adopting latest technology to protect data from outside threats, when hackers try to steal health related data for monetary gains. It is also gaining significance in the automotive industry, on account of protecting design and specification of vehicles from internal and external threats.
Data Masking Technology Market Dynamics
The rising concern over data security and privacy issues to keep the consumer and confidential data protected in BFSI and IT, is one of the prime growth factors of the data masking technology market. It is also gaining significance in healthcare as it focuses to safeguard patient health record from the external threats.
Dynamic masking is gaining adoption in an enterprise, as it offers advanced method of data protection in an environment where unauthenticated users can easily access. It is one of the cost-effective technologies to protect business application and databases from data breach threats. Dynamic masking uses two major approaches: view based masking and proxy based masking, and changes the flow of data without changing its physical presence. Dynamic data masking also helps to analyse big data without affecting the regular business operations. Large, medium and small enterprises also prefer this technology for testing and analysis purposes, as it offers unique value to preserve complex data with minimal disruption.
Data Masking Technology Market Competitive Landscape
The global data masking technology market is fragmented, owing to the presence of large number of global and regional players, which intensifies the degree of rivalry. The market is growing at a notable pace, leading to moderate intensity of rivalry. Key market players such as IBM Corporation, Informatica Corporation, and Camouflage Software seek to gain market share through continuous innovations in data masking technology. Some of the other key players operating in market are Delphix Corporation, Compuware Corporation, Net 2000, Oracle Corporation, Hewlett Packard Enterprise, IRI, and Mentis Software. Oracle corporation recently introduced data masking technique, which uses a comprehensive approach called find, access, secure, and test (FAST), to gain an edge over its competitors.
Key competitors are specifically focusing on North-America and Europe for expansion of data masking technology market, as these regions show a strong tendency to adopt the data masking technology in coming years.