The increasing compliance requirements is boosting the market growth
The global data loss prevention market size is likely to attain over USD 6.4 billion by the year 2028. Besides, it is likely to project a CAGR of nearly 25% during the forecast years 2021-2028. Data is an organisation’s most precious asset, and understanding the various data states can help determine the best security measures to deploy. Any business that suffers a data loss can be severely harmed. As a matter of fact, no company is exempt from data loss. A recent cybercrime report by Cybersecurity Ventures says that in 2021, a business is expected to be the victim of a cyberattack every 11 seconds. According to Verizon’s 2021 Data Breach Investigations Report, insiders were involved in more than 20 per cent of security breaches in the United States. Data loss might have a negative influence on your company’s financial health.
Technology like DLP gives both IT and security personnel an overall perspective on the location, distribution, and use of information within an organisation. It eliminates all possibilities of data theft, including fines and lost income..Data security is a key duty in any organisation. With the surge in data generation, cybercriminals have increased their ability to infiltrate and steal data for harmful purposes. As a result, organisations are implementing Data Loss Protection (DLP) methods to protect sensitive data against security flaws.
The present and future higher rducation market progress is summarized to conclude the attractiveness of the entire market. Also, prime factors that influence the data loss prevention market opportunities during the forecast years. Factors such as the The increased focus of enterprises on meeting legal and compliance standards and data stored in public and private clouds has helped the industry grow. Data breaches and cyber-attacks are also driving the demand for DLP solutions. As a result of these factors, the market has grown tremendously.
The report also emphasizes several distinctiveness of the global data loss prevention industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the data loss prevention industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The data loss prevention market has tough competition among the new emerging and pre-established market vendors. Besides, the data loss prevention industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
In terms of the type, the market is categorized into Data Center DLP, Endpoint DLP, and Network DLP. The data center DLP segment is predicted to hold the major share of the market while the network DLP segment is expected to witness rapid growth. This is owing to the increased spending on these from enterprises which want to improve their uptime and thaw off cyber attacks.
The Asia-Pacific is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the data loss prevention market in this region is mostly ascribed to the importance of data loss prevention in the regions with countries like India, Japan, and China. Education has become vital in these areas to support economic and sociological development. However, the North American region is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the market maturity, large number of businesses that are targeted by hackers, along with supporting growing spending on IT by enterprises in the region.
The major players of the global data loss prevention market are GTB Technologies, Inc., Code Green Networks, Symantec Corporation, Check Point Software Technologies Ltd., Trustwave Holdings, Inc., CA Technologies, Trend Micro Incorporated, Blue Coat systems, Inc., Cisco Systems and Websense, Inc. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Key Segments of the Global Data loss prevention Market
Type Overview, 2019-2028 (USD Billion)
- Data Center DLP
- Endpoint DLP
- Network DLP
Application Overview, 2019-2028 (USD Billion)
Regional Overview, 2019-2028 (USD Billion)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America