Data Loss Prevention Market to Reach $56.28 Billion by 2030: Cognitive Market Research

CHICAGO, Feb. 7, 2023 /PRNewswire/ -- The Global Data Loss Prevention Market size is projected to be USD 56.28 Billion by 2030 growing at a CAGR of 21.54% from 2023 to 2030, as per a recent report by Cognitive Market Research. Acronis has launched a new advanced data loss prevention solution that protects Managed Service Providers (MSPs) and businesses of all sizes from data breaches, which is expected to increase the demand for the data loss prevention industry. 

Read the Full Report Edition on https://www.cognitivemarketresearch.com/data-loss-prevention-market-report

Major findings during Data Loss Prevention Industry Analysis:

• Increasing demand for cloud computing and switching data storage from on-premise to public and the private platform is anticipated to drive the growth of the global data loss prevention market.
• The developing commercialization is expected to increase the demand for data loss prevention technology. Rising cloud-based businesses and persistent cyber-attacks are projected to drive the market over the forecasted period.
• Growing internet penetration rate, increasing dependency on the communication sector, and the necessity to secure data from data hackers are expected to drive the market for data loss prevention technology.
• Government regulations like Sarbanes Oxley Act and Health Insurance Portability & Accountability Act has boosted the demand for data loss prevention technology in small & medium businesses.
• Rising incidents of data breaches across various industries, such as retail, financial services, insurance, and others, are expected to increase the demand for data loss prevention technologies.
• North America is expected to be the largest market in terms of revenue because of its large adoption of big data and cloud technologies and Asia-Pacific is estimated to be the fastest growing region during the forecast period. Growing economies like China and India are anticipated to drive the data protection market as they are the leading service-providing countries. The enterprises in the Asia Pacific are expected to start investing in data protection projects due to continuous cyber-attack challenges.
• Based on type, the data center DLP segment is expected to dominate the global market, owing to increasing spending on data center DLP from enterprises to improve their uptime and thaw off cyber-attacks.
• Based on organization size, the small and medium-sized enterprises segment is expected to register the highest CAGR in the global market. This growth is mainly due to the need to improve operational productivity, maximize profits and to compete with large organizations
• Based on the end-use industry, the BFSI segment is expected to dominate in terms of revenue contribution to the global market. This growth is attributed to keeping data safe, preventing it from leaks, loss, and theft, and reaching compliance with different data privacy laws.
• Based on the type of application, the cloud storage segment is estimated to dominate the global market as it keeps an organization's severe or sensitive information safe from cyber-attacks, insider threats, and accidental exposure.
• Based on deployment type, the cloud data loss protection segment is expected to dominate in the global market due to perceived benefits such as scalability and growing penetration of smart mobile devices.
• Based on services, the managed security services segment is expected to grow at a higher CAGR over the projected period.

Read full market analysis Data Loss Prevention Market Report 2023 Edition, Market Segmented (by Type Data Center DLP, Endpoint DLP, Network DLP) (By Services: Managed Security Services, Training and Education, Consulting, System Integration and Installation, Threat and Risk Assessment) (By Deployment Type: On-premises, Cloud Data Loss Protection) (By Application: Cloud Storage, Encryption, Policy Standards and Procedures, Web and Email Protection, Others) (By  End Use Industry: Healthcare, Retail and Logistics, Defense and Intelligence, Public Utilities and Government Bodies, BFSI, IT and Telecom, Others)

Data Loss Prevention Market Growth and Trends

The increasing adoption of cloud computing by organizations has collectively raised the need for data loss prevention, which is a major factor driving the growth of the global data loss prevention market. Rising awareness among businesses regarding data integrity and technological advancements in data loss prevention are the major factors expected to drive the growth of the market over the forecast period. As the business grows globally, new threats such as zero-day malware, Trojan horses, and advanced persistent threats put critical data at risk. This trend encourages organizations to deploy data loss prevention solutions to protect data on endpoints and networks from potential attacks.

The BYOD trend is gaining popularity among organizations, increasing the influx of disparate laptops, desktops, and smartphones, leaving other endpoints vulnerable. Security measures alone are not enough to stop these threats. Substantial growth in the adoption of mobile devices across the globe is expected to create significant opportunities during the forecast period.

Many companies strongly influence the market in terms of R&D and integration activities. As a growth strategy, companies indulge in product launches as a profitable way to maximize their market share. For instance, in April 2022 - McAfee Corp. launched Personal Data Scrubbing in the United States, the latest privacy features the company has added to its flagship product, McAfee Total Protection. Personal Data Scrubbing provides consumers with visibility, guidance, and ongoing monitoring to protect themselves, and identify spammers by removing their data from some of the riskiest data broker sites on the web. Similarly, in April 2022, Broadcom Inc. announced "day one" support for IBM's new z16, expanding opportunities for organizations to derive more value from the company's advanced AI and hybrid cloud solutions. Broadcom's leading technology solutions, services, and innovative "beyond the code" software give customers the competitive edge they need to succeed in an increasingly challenging business environment. 

The COVID-19 pandemic has positively impacted the revenue of data loss prevention companies due to enforced lockdowns and facility closures. As offices switch offline to online modes during the pandemic, threats to sensitive data have increased, leading to data piracy and theft. However, these companies are developing new product launches, partnerships, and collaborations as key strategies to expand their presence in the global data center security market. Moreover, many market players have invested in strategies such as agreements, joint ventures, and acquisitions to strengthen their solution portfolios and expand their geographic footprints.

Read the Full Report with the Table of Contents: https://www.cognitivemarketresearch.com/data-loss-prevention-market-report#table_of_contents

Data Loss Prevention Market Report Scope

Data Loss Prevention Market - Type Outlook (Revenue, USD Billion, 2018–2030)

• Data Center DLP
• Endpoint DLP
• Network DLP

Data Loss Prevention Market - Services Outlook (Revenue, USD Billion, 2018–2030)

• Managed Security Services
• Training and Education
• Consulting
• System Integration and Installation
• Threat and Risk Assessment

Data Loss Prevention Market - Organization Size Outlook (Revenue, USD Billion, 2018–2030)

• Large Enterprises
• Small and Medium-sized Enterprises

Data Loss Prevention Market - Deployment Type Outlook (Revenue, USD Billion, 2018–2030)

• On-premises
• Cloud Data Loss Protection

Data Loss Prevention Market - Application Outlook (Revenue, USD Billion, 2018–2030)

• Cloud Storage
• Encryption
• Policy Standards and Procedures
• Web and Email Protection
• Others

Data Loss Prevention Market - End Use Industry Outlook (Revenue, USD Billion, 2018–2030)

• Healthcare
• Retail and Logistics
• Defense and Intelligence
• Public Utilities and Government Bodies
• BFSI
• IT and Telecom
• Others

By Regions:

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Australia, Southeast Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Columbia, Rest of Latin America)
• Middle East & Africa (GCC, Saudi Arabia, Turkey, Egypt, Rest of MEA)

List Of Companies Profiled: 

• Absolute Software Corporation
• Broadcom Inc.
• Cisco Systems Inc.
• Digital Guardian
• Forcepoint
• Gtb Technologies Inc.
• McAfee Corp.
• Proofpoint Inc.
• Thales Group
• Trend Micro Inc.
• Trustwave Holdings
• Zecurio

Related Reports to Data Loss Prevention Market:

• Global Cloud DLP Market is expected to reach USD 1,323.9 billion by 2030

The global Cloud DLP market is expected to reach USD 1,323.9 billion by 2030 growing at a CAGR of 23.4%. The growing workforce mobility has dramatically driven the cloud DLP market and the BYOD trend. Moreover, growing concern over confidential information leakage is driving adoption of cloud DLP solutions by expansive organizations, thereby expanding the cloud DLP market.

• Global Virtual Data Optimizer Market is expected to reach USD 24.61 billion by 2030.

The global virtual data optimizer market is projected to reach USD 24.61 billion by 2030, growing at a CAGR of 18.23%. The global virtual data optimizer market is expanding rapidly, mainly due to the increasing demand of businesses for cost-effective data storage systems to handle large volumes of data. In terms of solution implementation, Virtual Data Optimizer allows compression companies to save space and reduce costs. This will reduce the cost of cloud-based external block storage, per processing instance, and long-term data image maintenance. Moreover, deduplication software solutions are required to remove redundant copies of processed data blocks, increasing the demand for virtual data optimizers globally.

Other Related Reports:

• Global Data Center Rack Server Market is expected to reach USD 218.45 billion by 2030 at 16.34% CAGR.
• The global Packaged Software Market is projected to hit USD 12.43 billion by 2030 at 18.34% CAGR.

Explore Cognitive Market Research's Other Service & Software Industry Report

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SOURCE Cognitive Market Research