Data Loss Prevention Market size is to grow by USD 3.24 billion from 2022 to 2027, Driven by Growing use of cloud for data storage - Technavio

NEW YORK, Oct. 1, 2023 /PRNewswire/ -- The "data loss prevention market size by deployment (cloud-based and on-premises), technology (datacenter/storage-based DLP, endpoint DLP, and network DLP), and geography (North America, Europe, APAC, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the data loss prevention market from 2022 to 2027 is USD 3.24 billion, according to Technavio. The growing use of the cloud for data storage is the key factor driving market growth. Businesses use the cloud to store their data because it allows them to work more efficiently. Data storage in the cloud is expected to increase due to the rise of IoT and the need to reduce operational costs (OPEX). Furthermore, to offer accessibility of stored data, cloud services provide an attractive opportunity for companies to invest in infrastructure support and maintenance. In addition, the DLP solution guarantees that corporate data does not transfer to a cloud via an uncensored route and will only be transferred to authorized cloud applications. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge

Threat from open-source DLP solutions is a significant challenge restricting market growth. Baobab is a major threat to the DLP-based on-premises and cloud market with its open-source solutions. In emerging countries like India and China, they are available free of charge to download and use on all platforms. Furthermore, the investment in expensive on-premises or cloud-based DLP solutions is not available to most SMEs in these economies. For instance, GitHub, a web hosting service, offers OpenDLP, a free and open-source DLP engine, centrally managed, agent-based, and widely distributed and published under the GPL. Hence, these factors are expected to restrict market growth during the forecast period.

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The data loss prevention market has been segmented by deployment (cloud-based and on-premises), technology (datacenter/storage-based DLP, endpoint DLP, and network DLP), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The market share growth by the cloud-based segment will be significant during the forecast period. To protect against data loss by malicious insiders and hackers, cloud-based DLP helps businesses extend their security policies to the cloud. The average cost of a data breach has also increased, which has increased the demand for cloud-based Data Loss Prevention solutions, due to the increasing number of data breaches in the cloud. In addition, to guarantee that sensitive data can be accessed by authorized users, the companies have established security measures. However, a number of organizations are struggling to prevent the transfer of data by way of shared files, social media, cloud storage, or any kind of Digital Application. Hence, these factors are expected to drive segment growth during the forecast period.

• North America is estimated to contribute 40% to the growth of the global market during the forecast period. 

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Key Companies in the Data Loss Prevention Market:

Acronis International GmbH, Aurea Inc., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., CoSoSys Srl, Dell Technologies Inc., Forcepoint LLC, Fortra LLC, GTB Technologies Inc., InfoWatch, McAfee LLC, Open Text Corp., Proofpoint Inc., SearchInform Ltd., Singapore Telecommunications Ltd., Somansa Technologies Inc., Spirion LLC, Trend Micro Inc., and Zecurion Inc.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Deployment

Market Segmentation by Technology

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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