Data Loss Prevention Market to Reach $56.28 Billion by 2030

Cognitive Market Research

CHICAGO, Feb. 7, 2023 /PRNewswire/ -- The Global Data Loss Prevention Market size is projected to be USD 56.28 Billion by 2030 growing at a CAGR of 21.54% from 2023 to 2030, as per a recent report by Cognitive Market Research. Acronis has launched a new advanced data loss prevention solution that protects Managed Service Providers (MSPs) and businesses of all sizes from data breaches, which is expected to increase the demand for the data loss prevention industry. 

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Major findings during Data Loss Prevention Industry Analysis:

• Increasing demand for cloud computing and switching data storage from on-premise to public and the private platform is anticipated to drive the growth of the global data loss prevention market.
• The developing commercialization is expected to increase the demand for data loss prevention technology. Rising cloud-based businesses and persistent cyber-attacks are projected to drive the market over the forecasted period.
• Growing internet penetration rate, increasing dependency on the communication sector, and the necessity to secure data from data hackers are expected to drive the market for data loss prevention technology.
• Government regulations like Sarbanes Oxley Act and Health Insurance Portability & Accountability Act has boosted the demand for data loss prevention technology in small & medium businesses.
• Rising incidents of data breaches across various industries, such as retail, financial services, insurance, and others, are expected to increase the demand for data loss prevention technologies.
• North America is expected to be the largest market in terms of revenue because of its large adoption of big data and cloud technologies and Asia-Pacific is estimated to be the fastest growing region during the forecast period. Growing economies like China and India are anticipated to drive the data protection market as they are the leading service-providing countries. The enterprises in the Asia Pacific are expected to start investing in data protection projects due to continuous cyber-attack challenges.
• Based on type, the data center DLP segment is expected to dominate the global market, owing to increasing spending on data center DLP from enterprises to improve their uptime and thaw off cyber-attacks.
• Based on organization size, the small and medium-sized enterprises segment is expected to register the highest CAGR in the global market. This growth is mainly due to the need to improve operational productivity, maximize profits and to compete with large organizations
• Based on the end-use industry, the BFSI segment is expected to dominate in terms of revenue contribution to the global market. This growth is attributed to keeping data safe, preventing it from leaks, loss, and theft, and reaching compliance with different data privacy laws.
• Based on the type of application, the cloud storage segment is estimated to dominate the global market as it keeps an organization's severe or sensitive information safe from cyber-attacks, insider threats, and accidental exposure.
• Based on deployment type, the cloud data loss protection segment is expected to dominate in the global market due to perceived benefits such as scalability and growing penetration of smart mobile devices.
• Based on services, the managed security services segment is expected to grow at a higher CAGR over the projected period.

Read full market analysis Data Loss Prevention Market Report 2023 Edition, Market Segmented (by Type Data Center DLP, Endpoint DLP, Network DLP) (By Services: Managed Security Services, Training and Education, Consulting, System Integration and Installation, Threat and Risk Assessment) (By Deployment Type: On-premises, Cloud Data Loss Protection) (By Application: Cloud Storage, Encryption, Policy Standards and Procedures, Web and Email Protection, Others) (By  End Use Industry: Healthcare, Retail and Logistics, Defense and Intelligence, Public Utilities and Government Bodies, BFSI, IT and Telecom, Others)