Data Masking Market Size

Data Masking Market Analysis

The Data Masking Market size is estimated at USD 0.94 billion in 2024, and is expected to reach USD 1.87 billion by 2029, growing at a CAGR of 14.71% during the forecast period (2024-2029).

In this information age, cyber security is essential. With the growth of breaches and malware attacks, data masking is making its way into the data-driven industry.

• Data masking is an intelligent technology that provides real-time data masking of production data. Data masking technology allows for analyzing large amounts of data without disrupting routine company processes. In other words, data masking technology produces a fake but realistic version of organizational data to safeguard sensitive organizational information.
• The increasing need for decreasing the risk of data breaching is fueling the dynamic data masking market growth, which is expected to execute the fastest growth rate over the forecast period. Besides, active data masking helps to protect sensitive and personal data while supporting outsourcing, offshoring, and cloud-based initiatives.
• Furthermore, considering the significant demand among enterprises for securing their financial data, the requirement for data masking and better security solutions is projected to play a vital role in the market's growth. Data-driven finance has mandated that every organization have an accounting department to store and maintain financial data that includes large monetary transactions that, if leaked, could result in issues with the company's reputation and monetary losses in the market, as well as issues with regulatory directives such as PCI DSS, HIPAA, and other enforced laws. This is the most crucial reason driving the growth of the data masking market in this business function.
• However, a lack of skilled workers and technological competence in poor and developing nations and a lack of standardization may limit market expansion. Increasing complexity in data integration and synchronization may also slow industry development. A solid IT infrastructure in developing nations would also hinder market expansion.
• Due to the COVID-19 outbreak, countries have implemented preventive measures. With schools being closed and communities being asked to stay at home, multiple organizations found a way to enable employees to work from their homes. This resulted in a rise in data breaches and fuels the growth of the data masking market. Due to rapid digitization, the market is also growing after the pandemic.