PUBLISHER: The Business Research Company | PRODUCT CODE: 1415697
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415697
“Data Loss Prevention Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on data loss prevention market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for data loss prevention? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The data loss prevention market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Data loss prevention (DLP) encompasses a set of protocols, methods, and processes designed to prevent the loss, misuse, or unauthorized access of sensitive data. It is employed within organizations to safeguard sensitive information from being lost, misused, or accessed by unauthorized individuals.
The primary services in the realm of data loss prevention include managed security services, training and education, consulting, system integration and installation, and threat and risk assessment. Managed security services involve outsourced solutions provided by specialized cybersecurity firms to oversee and enhance an organization's data security, ensuring ongoing protection by monitoring and managing the organization's data. These solutions cover network data loss prevention, endpoint data loss prevention, and datacenter or storage-based data loss prevention, and can be deployed in both on-premises and cloud-based modes. Industries benefiting from these services span information technology (IT), telecommunications, banking, financial services, insurance (BFSI), government, healthcare, manufacturing, retail, logistics, and more.
The data loss prevention market research report is one of a series of new reports from The Business Research Company that provides data loss prevention market statistics, including data loss prevention industry global market size, regional shares, competitors with a data loss prevention market share, detailed data loss prevention market segments, market trends and opportunities and any further data you may need to thrive in the data loss prevention industry. This data loss prevention market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The data loss prevention market size has grown exponentially in recent years. It will grow from $2.3 billion in 2023 to $2.92 billion in 2024 at a compound annual growth rate (CAGR) of 27.0%. The growth in the historic period can be attributed to increasing data breaches, rising adoption of cloud computing, growing sophistication of cyberattacks, increasing data volumes.
The data loss prevention market size is expected to see exponential growth in the next few years. It will grow to $7.6 billion in 2028 at a compound annual growth rate (CAGR) of 27.1%. The growth in the forecast period can be attributed to growing mobile workforce, growing awareness of the importance of data protection, continued growth of the managed dlp services, iot growth. Major trends in the forecast period include zero trust architecture, data classification and tagging, behavioral analytics, integration with soar.
The increasing number of data breach incidents is expected to drive the growth of the data loss prevention market in the future. Data breaches occur when sensitive, confidential, or protected information is accessed, disclosed, or compromised without proper authorization. Data loss prevention (DLP) is a proactive approach that involves identifying and preventing data breaches, unauthorized data transfers, or unintentional destruction of sensitive information. This is achieved through the implementation of strategies and technologies aimed at detecting, preventing, and mitigating the loss or unauthorized access of sensitive data. For example, in January 2022, the Identity Theft Resource Center, a nonprofit organization based in the United States, reported a total of 1,862 data breach incidents in 2021, marking a significant increase of over 68% compared to the previous year. Consequently, the surge in data breach cases is a driving force behind the expansion of the data loss prevention market.
The ongoing increase in cloud adoption is expected to be a key driver for the growth of the data loss prevention market. Cloud adoption refers to the process of individuals, organizations, or businesses utilizing cloud computing services to store, manage, process, and access data and applications over the internet. This shift to the cloud offers significant benefits for data loss prevention (DLP) efforts by providing advanced tools and capabilities to safeguard sensitive data stored in the cloud. For example, in June 2022, LXA (ManTech Alliance), a UK-based learning center, reported that the total expenditure on cloud services by end users reached $270 billion in 2020, and it expanded by 23.1% to a remarkable $332.3 billion in 2021. Projections suggest that this figure is poised to increase to $397.5 billion by 2022. Hence, the growing adoption of cloud services is a driving force behind the data loss prevention market's growth.
The constantly evolving and dynamic nature of cyberthreats remains a significant challenge that could hinder the growth of the data loss prevention market during the forecast period. These cyber threats are growing increasingly complex and sophisticated, posing a formidable challenge for data loss prevention solutions in terms of their ability to effectively detect and prevent such threats. For instance, in September 2023, AAG, a provider of IT support services, reported that 39% of companies in the UK disclosed experiencing a cyberattack in 2022. Furthermore, during the first half of 2022, cybercrime had a notable impact on 53.35 million individuals in the United States. Hence, the rapidly evolving cyberthreat landscape continues to be a hindrance to the expansion of the data loss prevention market.
The leading companies within the data loss prevention market are increasingly incorporating advanced security solutions driven by generative AI technologies, aiming to enhance their competitiveness and profitability in the market. Generative AI, a subset of artificial intelligence, is capable of generating new content, encompassing various types such as text, images, video, audio, code, or synthetic data. These technologies rely on machine learning algorithms to learn and identify patterns and structures. For example, in June 2023, Zscaler Inc., a US-based data loss prevention services provider, introduced cutting-edge security solutions integrated with generative AI tools. Zscaler harnesses AI and machine learning within its extensive data repository to predict potential security breaches and recommend policies that enhance threat detection, prevention, and response.
In October 2021, HelpSystems, a software company headquartered in the United States, completed the acquisition of Digital Guardian for an undisclosed sum. This strategic acquisition marks a significant move by HelpSystems to broaden its data loss prevention services. It also bolsters the data security portfolio of HelpSystems and further enriches the spectrum of managed service offerings available to its clientele. Digital Guardian, a cybersecurity and automation software company based in the US, brings valuable expertise and solutions to augment HelpSystems' capabilities in data loss prevention.
Major players in the data loss prevention market are Microsoft Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Broadcom Inc., SAP SE, BAE Systems PLC, Thales Group, VMware Inc., Fortinet, Citrix Systems Inc., Check Point Software Technologies Ltd., Trend Micro Inc., CrowdStrike Holdings Inc., Proofpoint Inc. , RSA Security LLC, BlackBerry Ltd., Forcepoint LLC, Idera Inc., Trustwave Holdings Inc., McAfee Inc., Sophos Ltd., CA Technologies Inc., Netskope Inc., CoSoSys Ltd., Code Green Networks Inc., Zecurion DLP, Avanan Inc., GTB Technologies Inc.
North America was the largest region in the data loss prevention market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in data loss prevention report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the data loss prevention market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The data loss prevention market includes revenues earned by entities by providing services such as managed security services, consulting services, system integration and installation. The market value includes the value of related goods sold by the service provider or included within the service offering. The data loss prevention market also includes sales of endpoint protectors software, digital guardians tools and checkpoint data loss prevention tools. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.