With 24.1% CAGR, Data Loss Prevention Market Size to Surpass USD 10.05 Billion by 2030

According to Fortune Business Insights, the global data loss prevention market size is projected to reach USD 10.05 billion in 2030, at a CAGR of 24.1% during the forecast period, 2023-2030

Data Loss Prevention Market

Pune, India, Dec. 11, 2023 (GLOBE NEWSWIRE) — The global data loss prevention market size was USD 1.84 billion in 2022 and is anticipated to reach USD 10.05 billion by 2030, exhibiting a CAGR of 24.1% over the study period. Fortune Business Insights™ provides this information in its research report, titled “Data Loss Prevention Market Forecast, 2024-2030”.

Data loss prevention provides a security-based solution that helps enterprises protect and monitor sensitive information across endpoint devices, on-premises systems, and cloud-based locations. The market expansion is being driven by the creation of vulnerable endpoints considering the surging adoption of BYOD trend.

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Key Industry Development:

February 2023 – Nokia introduced AVA Customer and Mobile Network Insights. The solution simplifies the analysis and collection of 5G network data for providing cost-effective analytical capabilities to CSPs (communication service providers).

Key Takeaways

• Data loss prevention market size in North America was USD 0.73 billion in 2022
• Escalated Product Adoption Boosted Industry Expansion amid COVID-19 Pandemic
• Solutions Segment Held Leading Share in 2022 Due to Expanding Digital Ecosystem
• Finance Segment Recorded the Highest Market Share in 2022 Owing to Assistance in Data Management

Discover the Leading Players Featured in the Report:

“Companies leading the global data loss prevention market are Microsoft Corporation (U.S.), Broadcom (U.S.), Cisco Systems, Inc. (U.S.), Fortra, LLC (U.S.), Cloudflare, Inc. (U.S.), IBM Corporation (U.S.), McAfee, Inc. (U.S.), Ekran Systems (U.S.), Imperva (U.S.), Palo Alto Networks (U.S.)”

Report Scope & Segmentation

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Drivers and Restraints:

Market Size to Rise Due to Escalated Cloud Adoption for Data Storage

The coming years are set to record an increase in cloud data storage owing to the need for decreasing OPEX (operating expense). This is expected to boost the product demand for the protection of sensitive data in the cloud. These factors are set to boost the global data loss prevention market growth.

However, the industry expansion may be restrained by the presence of complex rules associated with product deployment in various organizations.

Segmentation

By Component

• Solution
• Services 

By Type

• Network
• Cloud
• End Point

By Industry

• Healthcare
• Manufacturing
• Finance
• Government
• Others (retail)

By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

Regional Insights:

North America Dominates Due to Growing Awareness Regarding Data Security

North America holds a significant data loss prevention market share in the global market. This can be attributed to the increasing awareness regarding risks associated with data security in the region.

Europe is set to rise owing to an increase in digital transformation across various industries in the region. These include government, retail, and finance.

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Competitive Landscape:

Companies Focus on Launching Industry-specific Solutions to Increase Geographical Presence

Key companies are centered on the introduction of industry-specific solutions to enhance their geographical footprints. Furthermore, data loss prevention companies are also launching new solutions for retaining their clientele. Such strategies are being adopted to secure a competitive edge in the market.

FAQs

How big is the data loss prevention market?

The global data loss prevention market size was USD 1.84 billion in 2022. It is expected to reach USD 10.05 billion by 2030.

How fast is data loss prevention market growing?

The data loss prevention market will exhibit a CAGR of 24.1% during the forecast period, 2023-2030.

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• Data Loss Prevention Market