This report was recently updated on April 17 2024 with the latest and most recent
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Global Data Masking Technology Market Size, Trends & Analysis - Forecasts to 2026 By End-User Vertical (Retail, Telecommunication, Healthcare, Education, Automobile, Public Sector, Energy, BFSI, Others), By Deployment Model (In Place Masking, ETL, Dynamic Masking), By Region (North America, Asia Pacific, Europe, Central & South America, Middle East & Africa); End-User Landscape, Company Market Share Analysis, and Competitor Analysis
Data is the new oil in today’s era of Globalization 4.0 and Industrialization 4.0. Data is a hot commodity for both end-users who make sales and business decisions based on previous data trends and consumers using relevant data records to satisfy user satisfaction. To avoid the use of sensitive customer data, and confidential banking record data, data duplication/masking technologies are leveraging its position in the critical government and private sector.
Data masking technology is employed to protect confidential information by use of fictitious data characters or other dummy data models. The technology’s growth and observed demand can be derived from the trending data breaches around the globe. In 2019, Canva suffered a violation of data privacy as almost 137 million customers’ accounts were jeopardized exposing the credit card details and payment history. Data breach leads to heavy revenue losses to the business in question. The data breach studies analyzed the potential loss of almost $ 7.91 million as per the 2018 Cost of Data Breach Study conducted in the USA.
The establishment of data privacy protocols leverages the technology to mask data and restrict the use by third parties. India, Europe, and the USA are shaping the revolution of establishing data privacy regulations to protect user information. The propagation of protocols makes the technological changes in the data masking market grow faster.
The engagement of manufacturers in the launch of new data masking technologies builds up the market’s strong foothold in the industry verticals. As the education sector is fast moving towards the integration of technology to reduce the manual workload and increase work efficiency, the sharing of data journals online and scholarly work can invite news for data breach and copy-pasting of data without credits to the author’s work. Advancements in technology to protect data in the education sector will put the market in the limelight for years to come.
The certification of the technology enhances the market’s portfolio in the business domain and leads to a high deployment rate among the verticals. Recently in October 2020, the EBS 12.1.3. masking template was certified with the Oracle Database. The upgraded template is equipped with optional masking of data and bug fixes.
Manufacturers like Axis Technology Software and Delphix remains the prominent leaders in the domain of developing technology to secure critical data. The manufacturers since 2013 have developed and partnered together to develop the right tools and software to address data infringement.
As the world moved online in 2020 (COVID-19 impact), the risk of the data breach increased multifold. The protection of key data is an art and data masking gives immense power to the organization by increasing its credibility.
The Banking, Financial Services, and Insurance vertical will work as a market propeller given the rise of techniques to secure mobile banking apps. The data breach in the banking sector is another factor that can lead to the deployment of using dummy data models. In 2019, State Bank of India recorded the largest data breach exposing millions of user’s bank details. Delphix for the BFSI sector is a rising tool to curb the incidences of data breaches and losses associated with it.
Data breach in small businesses leads to loss of credibility and withdrawal of agreements for outsourcing work.
The Energy sector too is exposed to data leaks indicating the potential use of technology to safeguard critical data points. The cyberattacks in the USA energy sector risked the private files of more than 70,000 individuals and users in the energy sector for the year 2019.
The healthcare domain faces the risk of patient’s breach of data and confidential hospital records. Manufacturers such as ClearDATA, in March 2020 launched a coming of age software that uses machine learning to mask the patient’s data while also retaining the data’s value. More developments for the healthcare domain is showcased through the use of AI. The sector is exploiting Amazon Comprehend Medical to protect health data.
The In-place model is topping the market demand as compared to the dynamic masking model. The in-place model lets the original data be replaced which allows protection of data archives, and less risk of the data breach.
Looking at the demand for dynamic technology, dynamic masking has its presence in the SQL server 2016 to curb the use of sensitive data.
ETL masking of data is emerging to be a popular technique given the benefits it offers. It creates a fast channel of work transfer from the production site to the development and quality assurance site and flexibility in masking data files. Few ETL tools that ease the job of users are Hevo Data, Talend, Pentaho, Stream sets, and AWS Glue among others.
North America’s rising dominance in the software applications domain and Information & Communication Technology sector will create potential growth for this market. With the rise of data breach cases in the energy sector in the region, strict legislation in place by the government of the USA to ensure data privacy will have a significant impact on the technological innovation in masking the data. Camflouge Software and Privacy Analytics data masking techniques are shaping the region’s growth in this market.
Europe’s fast-pacing growth in the market can be attributed to the General Data Protection Regulation put in place by the EU to signify the importance of data masking, and the way of storing and capturing data. Asia-Pacific remains a prominent player in this market as manufacturers have already developed technologies in the region. IBM’s technology for protecting data has a strong foothold in India to combat the data leaks in call centers.
Micro Focus, Oracle, Axis Technology, Data Veil, ClearDATA, Broadcom, Informatica, Oracle, Delphix, K2View, Thales eSecurity, Beijing DBSEC Technology, IBM, and Imperva are key players providing services in this market.
Please note: This is not an exhaustive list of companies profiled in the report.
In February 2021, DataVeil Technologies launched the new version 4.2 of its data masking software that would feature XML and JSON.
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The Global Data Masking Technology Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Data Masking Technology Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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