According to the latest report by IMARC Group, titled “Data Loss Prevention Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global data loss prevention market reached a value of US$ 1.42 Billion in 2021. Data loss prevention (DLP) refers to tools and processes used to detect and prevent data breaches, exfiltration, and unwanted destruction of sensitive data. It includes various data security techniques, such as data identification, protecting data in motion and at rest, endpoint DLP, and data leakage detection. DLP is widely used to protect personally identifiable information (PII) and intellectual property (IP), achieve data visibility, secure the mobile workforce, and ensure safety in bring-your-own-devices (BYOD). It also prevents data-related incidents by insiders, improves control over the organization, definitively authenticates users before data access, and complies with cybersecurity requirements, laws, and standards.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Data Loss Prevention Market Trends:
Rapid digitalization of business processes, coupled with increasing cyberattacks across the globe, is one of the key factors driving the market growth. DLP is widely used for monitoring endpoint activities, filtering data streams on the corporate network, preventing ransomware attacks, and classifying regulated, confidential, and business-critical data. In addition, the widespread adoption of DLP solutions due to rising compliance and regulatory demands for enterprises is acting as another growth-inducing factor. Furthermore, the increasing inclination to tackle data security concerns arising due to the emerging trend of bring-your-own-device (BYOD), such as laptops, tablets, and smartphones, is providing a considerable boost to the market growth. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) to develop next-generation DLP capable of automating data classification, reducing false positives, identifying user behavior, and detecting anomalies is creating a positive outlook for the market growth. Moreover, increasing demand for DLP-as-a-service that expedites DLP deployment and integrates easily with the existing environment to improve data visibility and offer better protection against leaks, incidents, and intrusion is providing an impetus to the market growth. Other factors, including increasing adoption of cloud technology, growing demand for DLP software by government agencies to tackle national security threats, and widespread utilization in the healthcare industry to protect personal and medical data, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 5.1 Billion by 2027, exhibiting a CAGR of 23.10% during 2022-2027.
- On the basis of the type, the market has been divided into data center, endpoint, and network DLP.
- Based on the services, the market has been classified into managed security services, training and education, consulting, system integration and installation, and threat and risk assessment.
- On the basis of the size, the market has been divided into large, and small and medium-sized enterprises.
- Based on the deployment, the market has been bifurcated into on-premises and cloud data loss protection.
- On the basis of the application, the market has been categorized into cloud storage, encryption, policy standards and procedures, web and email protection, and others.
- Based on the industry, the market has been classified into healthcare, retail and logistics, defense and intelligence, public utilities and government bodies, BFSI, IT and telecom, and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Absolute Software Corporation, Broadcom Inc., Cisco Systems Inc., Digital Guardian (HelpSystems LLC), Forcepoint, Gtb Technologies Inc., McAfee Corp., Proofpoint Inc., Thales Group, Trend Micro Inc., Trustwave Holdings (Singapore Telecommunications Limited) and Zecurion.
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