New York, NY, March 18, 2024 (GLOBE NEWSWIRE) -- The global digital risk protection market share was valued at USD 63.81 billion in 2023 and is predicted to reach around USD 333.44 billion by 2032, growing at a CAGR of 20.2% from 2024 to 2032.
Digital risk protection is a procedure of protecting digital resources and brand recognition from outward threats. The rapidly rising demand for digital risk protection market can be attributed to the fact that as increasing business functionalities accept digital practices, the threats, and ambush surfaces that can be capitalized by threat actors escalate. Data risk protection solutions function on the basis that the firms can utilize threat actor ventures to their benefit to recognize ambush before it takes place.
The digital risk protection market growth can be attributed to the escalating tendency of businesses to augment their online attendance through websites and intellectual property repositories. Further, the market is observing a notable shift propelled by the execution of progressive manifold security systems. Digital risk protection solutions enact an important part in defending digital alterations against cyber threats and data violations.
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Key Findings from the Report
- The escalating tendency of businesses to augment their online attendance through websites and intellectual property repositories is pushing the market towards expansion.
- The digital risk protection market segmentation is primarily based on offering, solution type, security type, organization size, deployment mode, vertical, and region.
- The North American region dominated the market with the largest market share in 2023.
Digital Risk Protection Market Key Companies:
- BrandShield
- Broadcom
- Cisco
- Cofense
- CrowdStrike
- CybelAngel
- CyberArk
- CyberInt
- Darktrace
- Digital Shadows
- Exabeam
- Forcepoint
- Fortinet
- Kaspersky
- Microsoft
- Palo Alto Networks
- PhishLabs
- Proofpoint
- Rapid7
- RSA Security
- SafeGuard Cyber
- ZeroFOX
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Digital Risk Protection Market: Report Details
| Report Attributes | Details |
| Market value in 2024 | USD 76.57 Billion |
| Market value in 2032 | USD 333.44 Billion |
| CAGR | 20.2% from 2024 – 2032 |
| Base year | 2023 |
| Historical data | 2019-2022 |
| Forecast period | 2024-2032 |
Important Market Developments
- Growth Drivers:
The growing cybersecurity threats become of use to a notable driver for the market. The developing nature of cyber threats involving trailblazing malware, phishing ambush, and ransomware shows a continual provocation to firms. The digital risk protection market size is expanding as cyber threats become more sophisticated and varied. There is an increasing requirement for strong DRP solutions that can productively recognize, observe, and reduce these probabilities.
Data violations, including unsanctioned approaches to subtle information, are becoming more frequent and grave. Liability to distinctive data, trade confidence, fiscal information, and intellectual property can cause sizeable fiscal losses, regard damage, and legitimate accountabilities for firms. The digital risk protection market sales are soaring as they become important in prohibiting, locating, and responding to data breaches.
- Trends:
Digital probabilities arise from unexpected outcomes frequently displayed as cyber threats that entail enterprising prohibition steps. This software is commissioned with a gamut of operations involving cyber security, cloud technology administration, data leak prohibition, adherence implementation, flexibility improvements, process mechanization, and data safety.
- Challenges:
The innate intricacy of DRP solutions might cause usability problems, creating a struggle for firms to capitalize on the potential of these technologies to the fullest. This can lead to the underutilization or unacceptable arrangement of DRP solutions certainly making concessions of their productivity in diminishing cyber risks.
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Regional Insights
North America: This region held the largest digital risk protection market share due to growth in cyber threats involving data violation, crypto trojans ambush, phishing rackets, and insider menaces. These cyber-threats lead to notable probability to firms covering several industries pushing the demand for the market to protect susceptible data, intellectual property, and consumer information.
Asia Pacific: This region is anticipated to grow at the fastest CAGR due to its experiencing speedy digital change, which covers various industries, propelled by factors such as growing internet reach, smartphone acquisition, and government enterprise to encourage digitalization.
Browse the Detail Report “Digital Risk Protection Market Share, Size, Trends, Industry Analysis Report, By Offering (Solution and Services); By Solution Type; By Security Type; By Organization Size; By Deployment Mode; By Vertical; By Region; Segment Forecast, 2024- 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/digital-risk-protection-market
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Polaris Market Research has segmented the digital risk protection market report based on offering, solution type, security type, organization size, deployment mode, vertical and region.
By Offering Outlook
- Solutions
- Services
By Solution Type Outlook
- Brand Protection
- Phishing Detection
- Incident Response
- App Protection
- Dark Web Intelligence
- Automate Threat Mitigation
- Supply Chain Security
By Security Type Outlook
- Network Security
- Endpoint Security
- Cloud Security
- Application Security
By Organization Size Outlook
- Large enterprises
- SMES
By Deployment Mode Outlook
- Cloud
- On-premises
By Vertical Outlook
- BFSI
- IT & ITeS
- Government
- Healthcare
- Retail and eCommerce
- Media and entertainment
- Other verticals
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea, Australia)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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