NEW CASTLE, Delaware, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Data Loss Prevention Market by Type (Network DLP, Endpoint DLP, and Storage DLP), Deployment Mode (On-premise, Hybrid, and Cloud), Application (Cloud Storage, Policy Standards and Procedures, Encryption, Web and E-mail, and Others), and End-Use Industry (BFSI, Healthcare, Retail, IT and Telecom, Government and Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2032”. According to the report, the data loss prevention industry generated $2.1 billion in 2022 and is anticipated to generate $12 billion by 2032, witnessing a CAGR of 19.2% from 2023 to 2032.
Prime Determinants of Growth
The notable factors positively affecting the data loss prevention market include the rising significance of data protection regulations and growing data breach incidents. However, the high cost of implementation and complexity of integrating with existing cybersecurity infrastructure can hinder market growth. However, enterprise-wide shifts toward remote and hybrid work models and growth in the adoption of cloud services across sectors offer lucrative opportunities for market players.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $2.1 Billion |
| Market Size in 2032 | $12 Billion |
| CAGR | 19.2 % |
| No. of Pages in Report | 250 |
| Segments covered | Type, Deployment Mode, Application, End-use Industry, and Region. |
| Drivers | Rise in significance of data protection regulations Growth in data breach incidents |
| Opportunities | Enterprise-wide shifts toward remote and hybrid work models Growth in the adoption of cloud services |
| Restraints | High cost of implementation Complexity of integrating with existing cybersecurity infrastructure |
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The storage DLP segment to maintain a significant growth rate throughout the forecast period
Based on type, the storage DLP segment held the highest market share in 2022, accounting for two-fifths of the data loss prevention market revenue, and is anticipated to grow significantly over the forecast period. This is attributed to the growing need for a high level of personalization and is one of the primary reasons enterprises are increasing their investment in the data loss prevention market. However, the endpoint DLP segment is expected to witness the largest CAGR of 22.2% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. The increase in the adoption of digital technologies across various industries and the availability of effectiveness, functionality, and convenience in digital services are expected to drive the growth of the endpoint DLP segment in the global market.
The on-premise segment held a major share and is projected to grow significantly over the forecast period
Based on deployment mode, the on-premise segment accounted for the largest share in 2022, contributing to more than two-fifths of the data loss prevention market revenue, an increase in the need for secure and reliable data within the organization is fueling the market growth for on-premises-based data loss prevention. However, the hybrid segment is expected to portray the largest CAGR of 21.3% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. It provides several advantages such as reducing costs, supporting business, and effectively controlling the business environment in the organization.
The cloud storage segment to maintain its lead position during the forecast period
Based on application, the cloud storage segment accounted for the largest share in 2022, contributing to more than one-third of the data loss prevention market revenue, owing to the growth in demand for data loss prevention for cloud-based services. However, the encryption segment is expected to witness the largest CAGR of 22.3% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. It provides various benefits to several organizations.
The BFSI segment is expected to witness a high growth rate during the forecast period.
Based on end-use industry, the BFSI segment is projected to witness an exponential rate of 22.6% over the forecast period. This is attributed to increase in the adoption of digital solutions in the BFSI sector has led to the development of completely advanced programs that adhere to the maintenance of security systems, which further contribute to the global market growth in this sector.
North America region dominated the industry in 2022
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the data loss prevention market revenue. The increase in the usage of data loss prevention in businesses to improve businesses and the customer experience is anticipated to propel the growth of the market in this region. However, Asia-Pacific is projected to manifest the highest CAGR of 21.2% from 2023 to 2032. Countries such as China, India, and South Korea are at the forefront, embracing digital technologies to enhance their effectiveness and competitiveness, which is further expected to contribute to the growth of the market in this region.
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Competition Analysis:
Recent Product launches in the Data Loss Prevention Market
- In December 2023, Next DLP (“Next”) launched Activity Feed to its Reveal Platform. Activity Feed is designed to reduce the time and cost of investigating data loss and insider threats.
- In November 2021, Forcepoint launched “DLP Everywhere” to secure more locations and channels. With the release of Forcepoint DLP 8.9, customers can more effectively protect data leaving email, and gain greater visibility and control within Microsoft (Office) 365 applications.
Recent Partnerships in the Data Loss Prevention Market
- In March 2023, IBM Corporation collaborated with Cohesity, to address the critical need organizations have for increased data security and resiliency in hybrid cloud environments.
Leading Market Players: -
- Check Point Software Technologies Ltd.
- Cisco Systems, Inc.
- Forcepoint LLC.
- IBM Corporation
- Microsoft Corporation
- Next DLP, Inc
- Palo Alto Networks, Inc.
- Proofpoint, Inc.
- Broadcom, Inc.
- Trend Micro Incorporated
The report provides a detailed analysis of these key players in the data loss prevention market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
