360 MARKET UPDATES Report provides a 360-degree overview of the global Data Loss Prevention market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
“Global Data Loss Prevention Market – Segmented by Deployment Type , Solution, Service (Managed Service, Professional Service), End-user Industry, and Region – Growth, Trends, and Forecast (2018 – 2023)” Market report provides the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Data Loss Prevention Analysis. The Data Loss Prevention market is expected to register a CAGR of approximately 23.59% during the forecast period of (2019 – 2024).
Data Loss Prevention Market Report Covers Leading Manufacturers: Symantec Corporation, CA Technologies, Trend Micro Incorporated, GTB Technologies, Inc., Trustwave Holdings Inc., Cisco Systems Inc., Digital Guardian, Forcepoint LLC, McAfee LLC, Zecurion, Absolute Software Corporation, Proofpoint Inc., Gemalto NV, Sophos Group PLC, and Drainware
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The Data Loss Prevention Market was valued at USD 1.47 billion in 2017, and is expected to record a CAGR of over 23.59%, during the forecast period of 2018-2023, to reach USD 5.24 billion, by 2023. The market has been segmented by deployment type (on-premise, cloud-based), solution (network DLP, endpoint DLP, storage-based DLP), service (managed service, professional service), end-user industry, and region.
Data loss prevention (DLP) solutions are gaining traction, as enterprises are looking for different ways to reduce the risk of data leakage to external entities. Technology providers are developing automated solutions that enable enterprises to counter the rising number and sophistication of attackers, through integration and acquisitions.
Various factors, such as increasing data breaches and lack of knowledge about the security concerns of employees are contributing to the growth of the market studied. Moreover, the demand is also driven being by the growing adoption of cloud-based services, data transfer across public cloud services, and increasing focus on the insider threat that many organizations face on a daily basis. As the demand for digital assets is expected to increase in the future, so is the need for data protection solutions. However, performance concerns and lack of awareness are projected to hamper the growth of the data loss prevention market, over the forecast period.
Rising Data Breaches and Cyber Attacks across the Globe Fueling the Market’s Growth
Data breaches have gained extensive attention, as businesses of all the sizes have become increasingly reliant, on cloud computing, digital data, and workforce mobility. With sensitive data being stored on enterprise databases on local machines and cloud servers, breaching a company’s data has become as simple as gaining access to restricted networks. Publicly disclosed data breaches have increased in frequency, due to which, public awareness regarding the potential for data breaches has begun to rise. Most of the significant data breaches recorded in history were reported in 2005 or beyond, due to the exponential growth in the global volume of data, year after year.
CyberScout has been reporting on the number of data breaches and records exposed in the United States, since 2005. According to CyberScount, in 2016, around 1,093 data breaches were recorded in the United States, with 36.6 million records exposed. On the other hand, around 1,579 data breaches were reported in 2017, with at least 178.96 million total records exposed, thereby indicating an exponential increase in breaches. Besides, according to Risk Based Security, during the first three months of 2018, there were a total of 686 global data breaches, which resulted in 1.46 billion records being exposed. The majority of the breaches recorded resulted from hacking attacks. To counter the increasing number of data breaches and mounting security threats, small businesses and large enterprises are looking for enhanced solutions, thereby augmenting the growth of the data loss prevention market.
North America Expected to Account for the Largest Data Loss Prevention Market Share
The dominance of North America in the market studied can be attributed to the early and robust adoption of Big Data and cloud technologies. However, the region has an advanced infrastructure capability, thus leading to the largest revenue generation, in the market studied. The rise in the number of cyber-attacks and the need to protect data are boosting the demand for DLP (data loss prevention) solutions, across various businesses. Moreover, the enactment of stringent government initiatives to enhance the security of customer information is projected to boost the growth of the North American segment, over the forecast period.
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Reasons to Purchase Data Loss Prevention Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
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