New York, United States, Dec. 05, 2023 (GLOBE NEWSWIRE) -- The Global Data Loss Prevention (DLP)Market Size is to Grow from USD 2.79 Billion in 2022 to USD 36.87 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 29.45% during the projected period.
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Data loss prevention (DLP) is a process that makes sure end users do not share or send sensitive information outside of their organizational boundaries. The term "DLP" is often utilized to refer to software devices that allow network administrators to restrict end-user exchange and transmission of sensitive data.
These software solutions classify and preserve sensitive and confidential data using business principles because disclosing information to unapproved end users could put an organization at risk. Businesses may now identify and mitigate data loss issues more easily because of improvements in data security. Strict safety practices can help organizations reduce the chance of data loss situations by reducing the possibility of data breaches, unauthorized access, or unintentional data releases. As a result, the risk of unauthorized access or data leakage is reduced. Additionally, it ensures that the most sensitive data is safeguarded to the highest level of practicality. Due to the growth of digital data and the application of modern technologies like artificial intelligence (AI), robotics, the Internet of Things (IoT), big data, and cloud computing, both the volume and complexity of data continue to increase. This complexity opens up the potential for DLP solutions that can quickly locate, classify, and monitor sensitive data across various sources and platforms. Implementing and maintaining effective DLP solutions calls for specialized staff, specialized hardware infrastructure, and expensive software licenses.
COVID 19 Impact
The COVID-19 pandemic had a beneficial impact on the market for data loss protection. Employees used their homes or other unconventional locations to access critical data as the epidemic compelled organizations to move to remote working practices. As it became challenging for IT staff to monitor and secure data outside the corporate network, the risk of data exposure and potential breaches increased. The use of cloud-based services and applications was additionally encouraged by the pandemic. While cloud technologies have many advantages, they have additionally brought about new privacy and data security challenges.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the “Global Data Loss Prevention (DLP) Market Size, Share, and COVID-19 Impact Analysis, By Solution Type (Network DLP, Storage DLP/Data Center DLP, Endpoint DLP), By Deployment Mode (On-premise, Cloud), By Industry Vertical (BFSI, IT and Telecom, Healthcare, Retail & Logistics, Government), By Application (Encryption, Centralized Management, Policy, Standards & Procedures, Web & Email Protection, Cloud Storage, Incident Response & Workflow Management), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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The endpoint DLP segment dominates the market with the largest revenue share over the forecast period
Based on the solution type, the global data loss prevention (DLP) market is segmented into network DLP, storage DLP/data center DLP, and endpoint DLP. Among these, the endpoint DLP segment is dominating the market with the largest revenue share of 52% over the forecast period. Endpoint DLP keeps watch on every endpoint, both on and off the network, to stop data loss, disclosure, and unauthorized usage. Endpoints include everything that is used to access, transfer, or manage data, including servers, cloud storage platforms, desktop and laptop computers, and mobile devices.
The cloud segment is witnessing significant CAGR growth over the forecast period.
On the basis of deployment mode, the global data loss prevention (DLP)market is segmented into on-premise and cloud. Among these, the cloud segment is witnessing significant CAGR growth over the forecast period. The growing acceptance of cloud-based services is a result of their simplicity of access and use from any location with an internet connection. This allows businesses to protect data regardless of the location of users or devices. By using it, remote workers can gain access to the same security as onsite workers.
The BFSI segment is expected to hold the largest share of the global data loss prevention (DLP)Market during the forecast period.
Based on the vertical industry, the global data loss prevention (DLP) market is classified into BFSI, IT and telecom, healthcare, retail & logistics, and government. Among these, the BFSI segment is expected to hold the largest share of the cold storage market during the forecast period. BFSI firms deal with huge quantities of data, including client accounts, credit card numbers, and financials. Network intrusions, cyberattacks, and data breaches continue to be problems for the BFSI sector. DLP solutions enable real-time monitoring, analysis, and alerting, enabling the early discovery of security incidents or policy violations.
The encryption segment accounted for the largest revenue share of more than 49.7% over the forecast period.
On the basis of application, the global data loss prevention (DLP)market is segmented into encryption, centralized management, policy, standards & procedures, web& email protection, cloud storage, incident response & workflow management. Among these, the encryption segment dominates the market with the largest revenue share of 49.7% over the forecast period. Organizations increase the level of security when they mix encryption and DLP. By applying cryptographic methods, data is encrypted and then transformed into an inaccessible encrypted text format.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 38.6% market share over the forecast. Cloud computing is being increasingly adopted in North America, where it is being used for commercial operations, collaboration, and data storage. This change has led to the development of cloud-based DLP systems to safeguard sensitive data in scenarios like clouds.
Asia Pacific, on the contrary, is expected to grow the fastest during the forecast period. Insider threats, ransomware attacks, and data breaches have all increased in frequency in the Asia-Pacific region. Businesses are implementing cloud computing, remote work policies, and mobile technologies.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global data loss prevention (DLP) Market include Blackberry, IBM, McAfee LLC, Microsoft, Broadcom, Inc., Checkpoint, Cisco Systems, Inc., Citrix Systems, CrowdStrike, Digital Guardian Inc., Proofpoint, SAP SE, Sophos Ltd., Trend Micro, VMware, Inc. and others.
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Recent Developments
- In March 2023, An organization that offers cloud security services, Zscaler, Inc., recently announced changes to its Zscaler Posture Control in order to improve the platform for protecting cloud-native applications.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global data loss prevention (DLP) market based on the below-mentioned segments:
Data Loss Prevention (DLP) Market, Solution Type Analysis
- Network DLP
- Storage DLP/Data Center DLP
- Endpoint DLP
Data Loss Prevention (DLP) Market, Deployment Mode Analysis
- On-premise
- Cloud
Data Loss Prevention (DLP) Market, Industry Verticals Analysis
- BFSI
- IT and Telecom
- Healthcare
- Retail & Logistics
- Government
Data Loss Prevention (DLP) Market, Application Analysis
- Encryption
- Centralized Management
- Policy
- Standards & Procedures
- Web & Email Protection
- Cloud Storage
- Incident Response & Workflow Management
Data Loss Prevention (DLP) Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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