The key global data loss prevention market players are Broadcom Inc. (Symantec), GTB Technologies Inc., McAfee LLC, CoSoSys, Forcepoint LLC (Francisco Partners), Digital Guardian Inc. (HelpSystems), SecureTrust (VikingCloud), Trend Micro, Check Point Software Technologies Ltd., Proofpoint Inc., Spirion LLC. and Others.
New York, United States, April 29, 2024 (GLOBE NEWSWIRE) — Data loss prevention (DLP) is a group of instruments and procedures designed to detect and prevent sensitive data breaches, exfiltration, and unauthorized access. It classifies regulated, confidential, and business-critical information, monitors and controls endpoint activities, filters data streams on corporate networks, and administers cloud data. It also helps meet compliance and auditing requirements, identifies vulnerabilities and anomalies for forensics and incident response, and helps meet compliance and auditing requirements.
Data loss is when an enterprise loses vital data, such as during a ransomware attack. Prevention of data loss focuses on preventing the unauthorized transmission of data outside of organizational boundaries. Thus, organizations rely on DLP to protect and secure their data and ensure regulatory compliance.
Download Free Sample Report PDF @ https://straitsresearch.com/report/data-loss-prevention-market/request-sample
Rising Data Breaches and Cyber Attacks across the World Drive the Global Market
The proliferation of data breaches across multiple industries has resulted in the theft of millions of consumer records and the loss of millions of dollars by several affected businesses, thereby increasing the emphasis on security solutions in emerging economies. New threats like zero-day malware, trojans, and advanced persistent threats have put sensitive data at risk as the global economy expands. This has prompted organizations to implement DLP solutions to protect their endpoint and network data from attack.
In addition, the number of endpoints has increased by double digits, primarily due to the rapidly expanding adoption of automation, a consequence of Industry 4.0, machine-to-machine communication, and the emergence of smart cities. As a result, it is of the utmost importance to protect the vulnerability of data and devices and deploy tools for recognizing attacks and mitigating their effects. Consequently, the increasing adoption of automation technology will expedite the market’s growth over the forecast period.
Regulations and Compliances (GDPR, CCPA, PCI DSS, etc.) Creates Tremendous Opportunities
Increasing government compliance and regulatory requirements are anticipated to drive end-user demand for DLP solutions significantly. The European Union enacted the General Data Protection Regulations (GDPR), establishing rules and obligations for institutions (doing business with European citizens) to safeguard consumer data.
Similar to 2020, 2021 marked a turning point for cybersecurity events in the US and led to proposed policies. President Biden issued an Executive Order on “Improving the Nation’s Cybersecurity,” which was titled “Improving the Nation’s Cybersecurity” (EO 14028). New recommendations on enhancing software supply chain security and other essential cybersecurity activities have since been issued in response to the directive. The Executive Order instructed federal government agencies to adopt a more secure IT infrastructure based on Zero Trust. Such initiatives are anticipated to generate growth opportunities for the market.
Regional Analysis
Asia-Pacific is the most significant global data loss prevention market shareholder and is anticipated to exhibit a CAGR of 21.76% during the forecast period. China is the largest contributor to revenue in the Asia-Pacific region. Data security is an ever-evolving challenge, and to adapt to the ever-changing data protection regulations, businesses are entering into strategic partnerships to ensure data protection and integrity. For example, in May 2021, Deloitte Cyber and Forcepoint launched Data Loss Prevention-as-a-Service to provide Hong Kong businesses with a rapid and cost-effective data loss prevention capability. In addition, the number of connected devices in China is increasing due to ongoing technological progress. It is the world’s largest Internet of Things (IoT) market. With 5G and 5 G-enabled devices, interconnectivity will increase exponentially. The result is an increase in connected devices, increasing the market demand for security products.
North America is estimated to exhibit a CAGR of 22.83% over the forecast period. North America is experiencing an increase in the number of data breaches. The Identity Theft Resource Center (ITRC) reports that the average number of security breaches in the United States has increased marginally over the past few years. The number of data breaches the United States experienced increased from 1,506 in 2017 to 1,826 in 2021. Similarly, according to data from the Cost of Data Breach Report published by IBM in 2022, Canada ranked third in the average total cost of data breaches. In 2021, the country’s average cost of data breaches increased from USD 4.40 million in 2020 to USD 5.40 million. These increasing activities of data breaches in various industries are expected to be the primary factor driving the demand for data loss prevention solutions during the forecast period.
Key Highlights
- The global data loss prevention market size was valued at USD 1,828.67 million in 2022. It is estimated to reach USD 11,021.89 million by 2031, growing at a CAGR of 22.09% during the forecast period (2023–2031).
- Based on deployment, the global data loss prevention market is divided into on-premise and cloud-based. The on-premise segment is the largest revenue contributor to the market and is expected to exhibit a CAGR of 19.85% throughout the forecast period.
- Based on the solution, the global data loss prevention market is bifurcated into network DLP, endpoint DLP, and data center/storage-based DLP. The network DLP segment dominates the global market and is projected to exhibit a CAGR of 21.23% over the forecast period.
- Based on the end-user industry, the global data loss prevention market is segmented into IT and telecom, BFSI, government, healthcare, manufacturing, retail, logistics, and other end-user industries. The IT and telecom segment owns the highest market share and is estimated to exhibit a CAGR of 20.97% during the forecast period.
- Asia-Pacific is the most significant global data loss prevention market shareholder and is anticipated to exhibit a CAGR of 21.76% during the forecast period.
Market News
- In March 2023, Zscaler, Inc., the pioneer in cloud security, announced enhancements to Zscaler Posture ControlTM, bolstering the capabilities of its cloud-native application protection platform (CNAPP) with data loss prevention (DLP) and threat intelligence powered by the world’s largest security cloud, ThreatLabz.
- In September 2023, CoSoSys, a leader in cross-platform Data Loss Prevention (DLP) solutions, confirmed that it would offer same-day support for the release of macOS Sonoma on September 26, 2023.
Global Data Loss Prevention Market: Segmentation
By Deployment
- On-premise
- Cloud-based
By Solution
- Network DLP
- Endpoint DLP
- Datacenter/Storage-based DLP
By End-User Industry
- IT and Telecommunication
- BFSI
- Government
- Healthcare
- Manufacturing
- Retail and Logistics
- Other End-user Industries
By Regions
- North America
- Europe
- Asia-Pacific
- Rest of the World
Get Detailed Market Segmentation @ https://straitsresearch.com/report/data-loss-prevention-market/segmentation
About Straits Research Pvt. Ltd.
Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.
For more information on your target market, please contact us below:
Phone: +1 646 905 0080 (U.S.)
+91 8087085354 (India)
+44 203 695 0070 (U.K.)
Email: [email protected]
Follow Us: LinkedIn | Facebook | Instagram | Twitter
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaChron.com takes no editorial responsibility for the same.