$1.66 Bn Data Classification Market - Global Forecast to 2023: Integration of AI and ML Into Data Classification Presents Lucrative Opportunities

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Jan 16, 2019, 15:15 ET

DUBLIN, Jan 16, 2019 /PRNewswire/ --

The "Data Classification Market by Component (Solutions (Standalone and Integrated) and Services), Application (Access Control, GRC, Web, Mobile & Email Protection, and Centralized Management), Methodology, Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

Global data classification market size to grow from USD 536 million in 2018 to USD 1,661 million by 2023, at a CAGR of 25.4% during 2018-2023.

The major factors driving the growth of the data classification market are mandatory compliance with stringent regulations, and growth in uncontrolled data volumes and increased security risks. Furthermore, the integration of Artificial Intelligence (AI) and Machine Learning (ML) into data classification solutions and growing demand for data-driven decision making are expected to be providing opportunities for the growth of organizations across industry verticals in the data classification market.

Moreover, companies are integrating technologies such as AI and ML to automatically analyze the behavior of sensitive data and enhance security measures to avoid data breach incidents. These technologies help enterprises to reduce error rates due to manual processes or user interference while classifying sensitive data and empowers the data classification solution to leverage continuous learning processes to automatically categorize data in a more precise and refined way, based on user-defined rules and policies.

Lack of awareness regarding data classification importance in data security strategies and data pattern complexities are some of the factors acting as challenges for the data classification market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Data Classification Market
4.2 Data Classification Market: Top 3 Applications
4.3 Data Classification Market: By Region
4.4 Data Classification Market in North America, By Application and Methodology

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Mandatory Compliance With Stringent Regulations
5.2.1.2 Growth in Uncontrolled Data Volumes and Increased Security Risks
5.2.2 Restraints
5.2.2.1 Complicated Classification Schemes and Terminologies
5.2.3 Opportunities
5.2.3.1 Integration of AI and ML Into Data Classification
5.2.3.2 Growing Demand for Data Driven Decision-Making Process
5.2.4 Challenges
5.2.4.1 Lack of Awareness About Data Classification
5.2.4.2 Data Pattern Complexities Involved in Data Classification
5.3 Use Cases
5.3.1 Introduction
5.4 Regulatory Implications
5.4.1 Introduction
5.4.2 Sarbanes Oxley Act (SOX)
5.4.3 National Institute of Standards and Technology Special Publication (Nist Sp) 800-53
5.4.4 Payment Card Industry Data Security Standard (PCI DSS)
5.4.5 American Institute of Certified Public Accountants (AICPA) SOC 2
5.4.6 General Data Protection Regulation (GDPR)
5.4.7 Health Insurance Portability and Accountability Act (HIPAA)
5.5 Effective Data Classification Process

6 Data Classification Market, By Component
6.1 Introduction
6.2 Solutions
6.2.1 Standalone Solution
6.2.1.1 Increasing Demand for Advanced Level of Data Classification Capabilities for Strengthening Data Security to Drive the Growth of the Standalone Solution
6.2.2 Integrated Solution
6.2.2.1 Growing Adoption of Integrated Solution as It Integrates Various Data Protection Features Within A Single Solution
6.3 Services
6.3.1 Professional Services
6.3.1.1 Technicalities Involved in Implementing Data Classification Solutions to Boost the Demand for Professional Services
6.3.2 Managed Services
6.3.2.1 Requirement for Managed Services to Increase With Rising Deployment of Data Classification Solutions

7 Data Classification Market, By Methodology
7.1 Introduction
7.2 Content-Based Classification
7.2.1 Companies to Adopt Content-Based Classification to Protect the Regulated Data
7.3 Context-Based Classification
7.3.1 Need to Protect Ip Data to Drive the Adoption of Context-Based Classification Solutions
7.4 User-Based Classification
7.4.1 Need to Enhance Accuracy With User-Based Classification to Drive Its Demand

8 Data Classification Market, By Application
8.1 Introduction
8.2 Access Control
8.2.1 Increasing Criticality for Strengthening Data Access Control Within an Organization to Boost the Growth of the Application
8.3 Governance, Risk, and Compliance
8.3.1 GRC Application to Grow Rapidly in the Data Classification Market With Increasing Data Privacy Rules and Regulations
8.4 Web, Mobile, and Email Protection
8.4.1 The Need to Safeguard the Sensitive Data Leakage Outside an Enterprise to Boost the Demand for Web, Mobile, and Email Protection
8.5 Centralized Management
8.5.1 Need to Centralize the Overall Enterprises Data to Fuel the Growth of the Centralized Management Application

9 Data Classification Market, By Vertical
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.2.1 Growing Need to Protect the Sensitive Information in the BFSI Vertical to Drive the Adoption of Data Classification Solutions
9.3 Healthcare and Life Sciences
9.3.1 Increasing Need to Safeguard the Health Information of Patients for Delivering Quality Care to Drive the Adoption of Data Classification Solutions
9.4 Government and Defense
9.4.1 Government to Adopt Data Classification Solutions for Stringent Regulatory Compliance and Data Security
9.5 Education
9.5.1 Increasing Need to Protect Students' Data for Effective Workload Management to Drive the Adoption of Data Classification Solutions
9.6 Telecom
9.6.1 Growing Demand to Secure Large Volumes of Data for Enhanced Operational Efficiency to Pave the Way for the Telecom Industry to Adopt Data Classification Solutions
9.7 Media and Entertainment
9.7.1 Media and Entertainment Firms to Adopt Data Classification Tools to Understand Customer Behavior and Enhance Marketing Strategies
9.8 Others

10 Data Classification Market, By Region
10.1 Introduction
10.2 North America
10.2.1 United States
10.2.1.1 Growing Opportunities to Create Data Security Based Applications Fueling the Demand for Data Classification in the Us
10.2.2 Canada
10.2.2.1 Canada to Witness an Increase in Investments and Research Activities
10.3 Europe
10.3.1 United Kingdom
10.3.1.1 Growing Investments to Offer More Opportunities to Deploy Data Classification Solutions
10.3.2 Germany
10.3.2.1 Increasing Adoption of Data Classification Solutions Across Major Verticals is Expected to Drive the Market in Germany
10.3.3 France
10.3.3.1 Data Classification to Gain Popularity in France Due to Favorable Investment Climate
10.3.4 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Increasing Dependency on the Internet to Create the Demand for Data Classification Solutions in China
10.4.2 Japan
10.4.2.1 Strengthening Regulatory and Compliance Landscape and the Mandate to Abide By Data Privacy Laws to Increase the Adoption of Data Classification Solutions in Japan
10.4.3 India
10.4.3.1 Government Push to Adopt Advanced Technologies Would Lead to Increased Demand for Data Classification Solution in India
10.4.4 Rest of Asia Pacific
10.5 Middle East and Africa
10.5.1 Israel
10.5.1.1 Regulatory Compliances Backed By the Presence of Multiple Data Classification Vendors Would Lead to Adoption of Data Classification Solutions
10.5.2 South Africa
10.5.2.1 Increasing Adoption of Advanced Technologies to Fuel the Need to Classify and Protect Data
10.5.3 United Arab Emirates
10.5.3.1 Complex Legal, Regulatory, and Economic Resolutions to Compel Organizations to Adopt Data Classification Solutions
10.5.4 Rest of Middle East and Africa
10.6 Latin America
10.6.1 Brazil
10.6.1.1 Growth in Cyber-Attacks Leading to Strict Regulations to Secure Regulated Data Fueling the Demand for Data Classification Solution in Brazil
10.6.2 Mexico
10.6.2.1 Increase in the Number of Internet Users and Cross-Border Issues to Create the Demand for Data Classification Solutions
10.6.3 Rest of Latin America

11 Competitive Landscape
11.1 Overview
11.2 Ranking of Key Players, 2018
11.3 Competitive Scenario
11.3.1 New Product/Service Launches and Product/Service Enhancements
11.3.2 Agreements and Partnerships
11.3.3 Acquisitions
11.3.4 Expansions

12 Company Profiles

AWS
Boldon James
Clearswift
Covata
Dataguise
Digital Guardian
Expert Techsource
Forcepoint
Google
GTB Technologies, Inc.
IBM
Informatica
Innovative Routines International (IRI), Inc.
Janusnet
Microsoft
Minereye
Netwrix Corporation
Opentext
Pkware, Inc.
Seclore
Sienna Group, LLC.
Softworks AI
Spirion
Symantec
Titus
Varonis

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