Data Exfiltration Techniques Market to Reach $217.5 Billion, Globally, by 2031 at 12.3% CAGR: Allied Market Research

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Jan 31, 2023, 08:00 ET

A rise in the number of smartphone users, emergence of technologies such as blockchain and artificial intelligence in data exfiltration techniques, increase in online malware and misuse of the internet drive the global data exfiltration techniques market growth.

PORTLAND, Ore., Jan. 31, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Data Exfiltration Techniques Market by Component (Solution, Service), by Enterprise Size (Large Enterprise, Small and Medium Enterprise), by Type (User Activity Monitoring, Antivirus/Anti-Malware, Firewall, Intrusion Detection System/Intrusion Prevention System (IDS/IPS), Encryption, Data Loss Prevention, Others), by Industry Vertical (BFSI, IT and Telecom, Retail and E-Commerce, Healthcare, Manufacturing, Government and Defense, Energy and Utility, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031" According to the report, the global data exfiltration techniques industry generated $69.7 billion in 2021, and is estimated to reach $217.5 billion by 2031, witnessing a CAGR of 12.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Drivers, Restraints, and Opportunities

A rise in the number of smartphone users, small and medium-size enterprises (SMEs) being targeted by internal and external data breaches, emergence of technologies such as blockchain and artificial intelligence in data exfiltration techniques, increase in online malware, misuse of the internet, rise in sophisticated cyber threats for critical information theft, and a surge in the incidence of data loss in the on-premise environment drive the growth of the global data exfiltration techniques market. However, lack of standards and device compatibility issues and lack of skilled professionals hamper the global market growth. On the other hand, surge in demand for cloud-based cyber security solutions present new growth opportunities for the global market in the coming years.

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Covid-19 Scenario

The data exfiltration techniques market exhibited a positive growth during the outbreak of the COVID-19 pandemic. This is due to the accelerating demand for data security solutions in verticals such as BFSI and manufacturing and a rise in the number of internet users.
The increased data generation and rise in investments in edge data centers due to the growing demand for computing and storage resources to support 5G-enabled applications contributed to the growth of the market during the pandemic.
Moreover, different financial institutions adopted data exfiltration techniques due to a rise in the number of data breaches and lack of security within the organization to prevent unauthorized access to information, thus driving the market growth.
Furthermore, it is anticipated that this aspect will present the data exfiltration techniques industry with numerous prospects in future.

The user activity monitoring segment to dominate during the forecast period

Based on type, the antivirus/anti-malware segment was the largest market in 2021, contributing to nearly one-third of the global data exfiltration techniques market. This is because they are adopted by a number of users as the first line of defense. On the other hand, the user activity monitoring segment is projected to dominate the market in terms of revenue and witness the fastest CAGR of 19.4% from 2022 to 2031, owing to a surge in the number of internet users.

The BFSI segment to maintain its dominance during the forecast period

Based on industry vertical, the BFSI segment held the largest market share of nearly one-third of the global data exfiltration techniques market in 2021 and is expected to maintain its dominance during the forecast period. This is owing to the increase in different types of risks involved in this sector and the surge in need to increase the security & confidentiality of banking policies. On the other hand, the retail and e-commerce segment is projected to witness the largest CAGR of 18.6% from 2022 to 2031, due to the rise in adoption of smart devices and IoT devices.

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The solution segment to garner the largest revenue during the forecast period

Based on component, the solution segment was the largest market in 2021, contributing to more than two-thirds of the global data exfiltration techniques market, and is expected to maintain its leadership status during the forecast period. This is due to the rise in adoption of data exfiltration solutions by end users such as the BFSI and retail sector. On the other hand, the service segment is projected to witness the fastest CAGR of 14.7% from 2022 to 2031. This is owing to a surge in the managed and professional services.

Asia-Pacific to achieve a noteworthy growth by 2031

Based on region, North America was the largest market in 2021, capturing more than one-third of the global data exfiltration techniques market, owing to infrastructure development and security solutions adoption in countries like the U.S. and Canada. However, the market in Asia-Pacific is expected to lead in terms of revenue and manifest the fastest CAGR of 15.9% during the forecast period, owing to the growing digital transformation in the region.

Leading Market Players

Juniper Networks, Inc.
DTEX Systems Inc.
Pen Test Partners
Fortra LLC
Xorlab
Fortinet, Inc.
Barracuda Networks, Inc.
Exabeam
Proofpoint
Tessian Limited

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