Data Loss Prevention Market worth $8.9 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO , Oct. 10, 2023 /PRNewswire/ -- Innovation in threat detection, cloud security, remote work assistance, and compliance management will define the Data Loss Prevention (DLP) Market in the future. These advances will assist organisations in safeguarding their sensitive data and addressing the expanding data security and privacy challenges.

The Data Loss Prevention Market size is projected to grow from USD 3.4 billion in 2023 to USD 8.9 billion by 2028, at a CAGR of 21.2% during the forecast period, according to MarketsandMarkets. The DLP solutions mainly focus on the classification and monitoring of data that may be in motion, rest, or at the endpoint, as these solutions provide enterprises with the leverage to stop the numerous leaks of information that occur each day. In other words, the main aim of the DLP solutions is to detect potential data breaches that may occur at different levels.

Browse in-depth TOC on "Data Loss Prevention Market"

200 - Tables
70 - Figures
250 - Pages

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Scope of the Report

Based on offering, the service segment is expected to grow with the highest CAGR during the forecast period

The DLP service market is segmented across five major categories: consulting, managed security service, design and integration, education and training, and maintenance and support. These services assist in the system's security from unauthorized access, exploitation, and data loss. The service market continuously evolves with the introduction of integrated Social, Mobile, Analytics, and Cloud (SMAC), which needs proper monitoring. The rising demand for DLP services in the market of sophisticated cyber threats, the incapability of IT people to handle advanced and bundled risks, and outsourcing services are promoting the consultancy business.

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North America is expected to have the largest market size during the forecast period.

A convergence of factors drives North America's Data Loss Prevention (DLP) market. Heightened concerns around data security and privacy and a surge in cyber threats have propelled the demand for DLP solutions. Stringent data protection regulations, such as GDPR and CCPA, have placed legal obligations on organizations to safeguard sensitive information, fostering DLP adoption. Additionally, North America's vast and diverse business landscape, encompassing industries like finance, healthcare, and technology, requires tailored DLP solutions to address industry-specific challenges, further fueling market growth. Furthermore, the cost of data breaches is reducing year-on-year in the US, and this is due to the increase in investment by organizations toward improving their data security infrastructure.

Top Key Companies in Data Loss Prevention Market:

The Data Loss Prevention Market comprises significant providers, such as Broadcom (US), IBM (US), Microsoft (US), Trend Micro (Japan), McAfee (US), Palo Alto Networks (US), GTB Technologies (US), InfoWatch (Russia), Fortra (US), Cisco Systems (US), etc. These competitors have used various growth methods to increase their market share in the Data Loss Prevention industry, including partnerships, agreements, collaborations, new product releases, product enhancements, and acquisitions.

Recent Developments

• In September 2023, McAfee announced the launch of AI-powered Scam Protection to proactively spot and block scams in real-time.
• In September 2023, McAfee announced the launch of its new McAfee Privacy & Identity Guard product to proactively monitor and remove data online to help prevent potential identity theft and fraud.
• In June 2023, McAfee announced McAfee Business Protection, a new comprehensive security solution for small business owners in collaboration with Dell Technologies. McAfee Business Protection helps Dell small business customers avoid cyber threats and vulnerabilities with award-winning security, identity and dark web data monitoring, VPN, web protection for safe browsing, and more.
• In February 2023, Trend Micro announced the signing of a definitive agreement to acquire Anlyz, a leading provider of security operations center (SOC) technology. The acquisition will extend Trend's orchestration, automation, and integration capabilities and enable enterprises and Managed Security Service Providers (MSSPs) to improve operational efficiencies, cost-effectiveness, and security outcomes.
• In May 2022, Broadcom acquired VMware, a leading innovator in enterprise software, under which Broadcom will acquire all of the outstanding shares of VMware in a cash-and-stock transaction.

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Data Loss Prevention Market Advantages:

• DLP systems secure sensitive data by preventing unauthorised access, sharing, or leakage, and thereby protect intellectual property and sensitive information.
• DLP solutions assist organisations in complying with data protection rules and industry-specific standards by ensuring data is handled and stored legally.
• DLP systems give organisations visibility into how data is utilised within their organisations, allowing them to trace data movement, access, and usage patterns.
• DLP systems enforce data security protocols, ensuring that workers and users follow data handling guidelines and preventing data breaches due to human error.
• DLP tools assist organisations identify and safeguard crucial data assets by automatically finding and categorising sensitive content.
• Data encryption features are frequently included in DLP solutions to safeguard data while it is in transit and at rest and to guarantee data confidentiality.
• Data exfiltration, insider threats, and external attacks are just a few of the risks that DLP solutions can stop, reducing the risk of data breaches.
• To avoid the exchange of sensitive information over email and to ensure secure communication, DLP solutions offer email monitoring and security capabilities.
• DLP systems broaden protection to endpoints, protecting information on laptops, smartphones, and other endpoints, even those that are not connected to the corporate network.

Report Objectives

• To determine, segment, and forecast the global Data Loss Prevention Market by offering solution types, services, applications, verticals, and regions in terms of value.
• To forecast the size of the market segments to five main regions: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America
• To provide detailed information about the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the Data Loss Prevention Market
• To study the complete value chain and related industry segments and perform a value chain analysis of the Data Loss Prevention Market landscape.
• To strategically analyze the macro and micro markets to individual growth trends, prospects, and contributions to the total Data Loss Prevention Market
• To analyze the industry trends, pricing data, patents, and innovations related to the Data Loss Prevention Market.
• To analyze the opportunities for stakeholders by identifying the high-growth segments of the Data Loss Prevention Market
• To profile the key players in the market and comprehensively analyze their market share/ranking and core competencies.
• Track and analyze competitive developments, such as mergers and acquisitions, product launches and developments, partnerships, agreements, collaborations, business expansions, and Research & Development (R&D) activities.

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