USD 12 Billion Data Loss Prevention Market Reach by 2032 | Top Players Such as Palo Alto Networks, Proofpoint & Broadcom
The increasing adoption of automation technology is expected to drive the market’s growth during the forecast period.
PORTLAND, PORTLAND, OR, UNITED STATE, January 11, 2024 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The USD 12 Billion Data Loss Prevention Market Reach by 2032 | Top Players Such as Palo Alto Networks, Proofpoint & Broadcom.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global data loss prevention market size was valued at USD 2.1 billion in 2022, and is projected to reach USD 12 billion by 2032, growing at a CAGR of 19.2% from 2023 to 2032.
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The surge in data breach cases and the need to remit these risks have contributed to the significant growth of the market over the coming years. The corporate race for meeting compliance as well as regulatory mandate have contributed to the data loss prevention market growth. Demand shift towards personal and public cloud, are also boosting up the requirement for DLP technology.
The data loss prevention market is segmented on the basis of type, deployment mode, application, end-use industry, and region. On the basis of type, the market is segmented into network DLP, endpoint DLP, and storage DLP. On the basis of deployment mode, the market is segmented into on-premise, hybrid, and cloud. On the basis of application, the market is segmented into cloud storage, policy standards and procedures, encryption, web and e-mail, and others. On the basis of the end-use industry, the market is segmented into BFSI, healthcare, retail, IT and telecom, government and defense and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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On the basis of deployment mode, the market is segmented into on-premise, hybrid, and cloud. Hybrid segment is projected to grow at an exponential rate due to several advantages such as reducing costs, supporting business, and effectively controlling the business environment.
On the basis of application, the market is segmented into cloud storage, policy standards and procedures, encryption, web and e-mail, and others. Encryption segment is projected to grow at a higher growth rate owing to enterprise-wide demand to secure critical databases.
On the basis of the end-use industry, the market is segmented into BFSI, healthcare, retail, IT and telecom, government and defense and others. BFSI segment is projected to grow exponentially at a growth rate of 22.6% over the forecast period. This is attributed to the increase in the adoption of digital solutions in the BFSI sector has led to the development of completely advanced programs that adhere to the maintenance of security systems, which further contribute the global market growth in this sector.
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On the basis of geography, North America is likely to grow in terms of Data Loss Prevention market size, while markets such as LAMEA and APAC are anticipated to observe a rise in market propulsion with highest CAGRs during.
The market players operating in the data loss prevention market are Check Point Software Technologies Ltd., Cisco Systems, Inc., Forcepoint LLC., IBM Corporation, Microsoft Corporation, Next DLP, Inc., Palo Alto Networks, Inc., Proofpoint, Inc., Broadcom Inc. And Trend Micro Incorporated. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the data loss prevention market globally.
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KEY FINDINGS OF THE STUDY
● By solution type, the storage/Data center DLP segment accounted for the largest data loss prevention market size in 2022.
● By deployment mode, the on-premise segment accounted for the largest data loss prevention market share in 2022.
● By application, the cloud storage segment is anticipated to grow at an exponential growth rate in data loss prevention market forecast period.
● By industry vertical, the IT & Telecom segment accounted for the largest data loss prevention market share in 2022.
● Region wise, North America generated the highest revenue in 2022.
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