Global Data Protection Market Expected To Exceed $194 Billion By 2026, With CAGR At 15.9%

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Feb 02, 2021, 08:30 ET

PALM BEACH, Fla., Feb. 2, 2021 /PRNewswire/ -- Data protection is the process of protecting data and involves the relationship between the collection and dissemination of data and technology, the public perception and expectation of privacy and the political and legal underpinnings surrounding that data. It aims to strike a balance between individual privacy rights while still allowing data to be used for business purposes. With the prolonged outbreak of pandemic COVID-19 disease, a majority of the businesses are or have been shut down and operations across different enterprises are compromised. This has made organizations looking for ways to improve their communications, operational efficiencies, overall productivity and are looking for innovative ideas & solutions to improve the revenue. This in turn has increased the susceptibility of cyber-attacks and data breaches within the organizations. This in turn has facilitated the use of data protection solutions thereby driving the market growth through 2025. A report from Market Research Engine projected that The Data Protection Market is expected to grow from $120 Billion by 2023 and to exceed $194.11 Billion by 2026, with CAGR at 15.9% in the given forecast period. The report said that the major driving factors of Data Protection Market are the growth of enormous amount of knowledge and also the need for knowledge security and privacy considerations. Active Companies from around the market with recent developments this week include: Data443 Risk Mitigation, Inc. (OTCPK: ATDS), Microsoft Corporation (NASDAQ: MSFT), BlackBerry Limited (NYSE: BB) (TSX: BB), CrowdStrike Holdings, Inc. (NASDAQ: CRWD), SolarWinds (NYSE: SWI).

A recent article on Yahoo Finance added: "This large data requires solutions to monitor, manage and protect this data. This in turn is expected to positively influence the market growth through 2025. Additionally, growing concerns regarding cyber security, rising concerns of critical data loss and protection from malwares, ransomwares, among others is further expected to fuel the market growth. Furthermore, increasing expenditure by various governments and organizations on security solutions and growing concerns over breach of important data is expected to create lucrative opportunities for the market growth over the next few years."

Data443 Risk Mitigation, Inc. (OTCPK: ATDS) BREAKING NEWS: DATA443 DELIVERS ADVANCED CAPABILITIES FOR CLASSIDOCS™ INTEGRATED with MICROSOFT DOUBLE KEY EXCHANGE ON MICROSOFT AZURE - Data443 Risk Mitigation, a leading data security and privacy software company for ALL THINGS DATA SECURITY™, is pleased to announce its ClassiDocs™ product, which anchors its award-winning Global Privacy Manager™ technology suite, has been further integrated into Microsoft product offerings. Data443 joined the Microsoft Intelligent Security Association (MISA) in late 2020 due in part to its long-standing integration with Microsoft Information Protection for its Data Classification and Governance product – ClassiDocs™.

Since 2018, ClassiDocs has directly supported the rights management platform for its customers and has continued to progress its data privacy, compliance, and security capabilities by providing functionality, such as:

SIEM integrated data Classification system
Blockchain-integrated data governance platform
Classification platform that includes over 900 taxonomies built-in
Platform that includes OCR classification for free
Classification platform supports Zoom®
Classification platform that scans laptops and desktops inclusively
Classification platform that now natively support Covid-19 taxonomies and patterns

Based on strong joint customer demands, Data443 has integrated ClassiDocs within Microsoft's Bring Your Own Key (BYOK) protection system – based in Microsoft Azure. The Double Key Encryption (DKE) protection system is integrated deeply within the award winning ClassiDocs™ product line, which also include capabilities with Data443's Global Privacy Manager™ suite. The advanced capabilities were developed on top of the Company's existing integration with Microsoft Information Protection, of which Data443 was an early adopter in 2018. These private key capabilities are considered significant requirements that many financial-related customers in a cloud hosted environment will have.

Jason Remillard, CEO and founder of Data443, commented, "The latest capabilities from Microsoft for privacy and secured information flow that is ultimately in the hands of the customer is an important step in the continued adoption of cloud and hybrid cloud solutions. ClassiDocs enables clients the ultimate visibility in understanding what kind of data, where it is, and how sensitive it is – at all times. True data visibility coupled with full control is a major step forward for everyone. It's a great product set and a great relationship for us. We look forward to continuing to be a leading provider of All Things Data Security!"

"Members of the Microsoft Intelligent Security Association integrate their security solutions with Microsoft's to gain more signal, increase visibility and better protect against threats. By extending Microsoft's security capabilities across the ecosystem, we help our shared customers to succeed", stated Ryan McGee, Director of Microsoft Security Product Marketing. Read this full press release for ATDS at: https://www.financialnewsmedia.com/news-atds/

In the industry developments and happenings in the markets include:

Microsoft Corporation (NASDAQ: MSFT) recently announced the addition of Inuktitut text translation to Microsoft Translator. This addition will allow users to translate any of the more 70 languages to or from Inuktitut, the primary dialect of the Inuktut language, which also includes Inuinnaqtun. Inuktitut is spoken by approximately 40,000 Inuit across Inuit Nunangat, the Inuit homeland in Canada and seventy per cent of the residents of Nunavut use Inuktitut.

Now available in the Microsoft Translator apps, Office, and Translator for Bing, users can use AI-powered Azure Cognitave Services Translator and Azure Cognitive Services Speech to add Inuktitut translation to apps, websites, workflows and tools. This provides an additional way to make Inuktitut more accessible at work, at school and in everyday life and will help ensure the language continues to thrive.

BlackBerry Limited (NYSE: BB) (TSX: BB) recently announced an expansion of its strategic partnership with Baidu, whose high-definition maps will run on the QNX Neutrino Real-Time Operating System (RTOS) and will be mass-produced in the forthcoming GAC New Energy Aion models from the EV arm of GAC Group (Guangzhou Automobile Group Co., Ltd.).

The milestones build on the company's January agreement to make BlackBerry QNX's industry-leading ISO 26262 ASIL D certified operating system (OS) the foundation for Baidu's 'Apollo' autonomous driving open platform. Baidu is one of the few high-definition map vendors with an Automotive SPICE® certification from TÜV Rheinland – an industry certification that addresses rigid requirements for the software development process for Tier 1 and Tier 2 automotive suppliers. With world-leading levels of data granularity, Baidu's high-definition maps provide a critical component for global automakers looking to launch next generation connected and autonomous vehicles in China.

CrowdStrike Holdings, Inc. (NASDAQ: CRWD) a leader in cloud-delivered endpoint and workload protection, recently announced the release of the annual CrowdStrike Services Cyber Front Lines Report, which brings together the insights and observations of CrowdStrike's global incident response (IR) and proactive services teams in 2020. The report not only provides an in-depth look into how adversaries are adapting to today's realities but also offers recommendations for organizations to improve their cybersecurity readiness in 2021.

SolarWinds (NYSE: SWI), a leading provider of powerful and affordable IT management software, recently announced it released updates in response to the SUPERNOVA malware for all supported versions of SolarWinds^® Orion^® Platform products and a fix for customers on unsupported versions of these products.

Third parties and the media have publicly reported on a malware, now referred to as SUPERNOVA. Based on SolarWinds' investigation, this malware could be deployed through an exploitation of a vulnerability in the Orion Platform. Like other software companies, SolarWinds seeks to responsibly disclose vulnerabilities in its products to customers, while also mitigating the risk that bad actors seek to exploit those vulnerabilities, by releasing updates to their products before the company discloses the vulnerabilities.

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