Sensitive Data discovery Market Size
The global Sensitive Data discovery market share was dominated by the solution segment and is expected to maintain its dominance in the upcoming years.
PORTLAND, PORTLAND, OR, UNITED STATES, September 6, 2023/EINPresswire.com/ — According to the report published by Allied Market Research, the global sensitive data discovery market generated $4.9 billion in 2020, and is estimated to reach $34.53 billion by 2030, witnessing a CAGR of 21.6% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in need to discover sensitive structured and unstructured data and rise in investments in data privacy measures with the evolving data privacy regulations drive the growth of the global sensitive data discovery market. However, the lack of a skilled professional workforce and difficulties in justifying ROI restrain the market growth. On the other hand, demand to integrate data with business processes to derive actionable insights is estimated to present opportunities in the next few years.
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Covid-19 Scenario:
• During the Covid-19 pandemic, there has been surge in adoption of digital retail and e-commerce platforms as physical stores were closed to avoid cross-contamination. This led to rise in engagement of online payments as well as cyber-attacks such as frauds and identity thefts.
• The demand for strong authentication services and high-quality security tools increased considerably to ward-off the cyber-attacks and ensure data protection.
• With the increase in awareness of data privacy and safety, organizations employed stringent security policies and availed support from cyber security experts.
The report offers detailed segmentation of the global sensitive data discovery market based on component, organization size, deployment mode, application, industry verticals, and region.
Based on components, the solution segment accounted for the largest share in 2020, holding more than three-fourths of the total share, and is expected to continue its leadership status during the forecast period. However, the services segment is projected to witness the fastest CAGR of 22.6% from 2021 to 2030.
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Based on industry verticals, the telecommunications and IT segment contributed to the largest share in 2020, accounting for more than one-fourth of the total share of the global sensitive data discovery industry, and is estimated to maintain its dominant share during the forecast period. However, the healthcare and life sciences segment is expected to manifest the largest CAGR of 25.8% from 2021 to 2030.
Based on region, North America held the highest share in 2020, contributing to nearly two-fifths of the total market share, and is projected to continue its lead position by 2030. However, Asia-Pacific is expected to portray the highest CAGR of 24.1% during the forecast period.
Leading players of the global sensitive data discovery market analyzed in the research include AWS, Hitachi, Google, Micro Focus, IBM, Oracle, Microsoft, Solarwinds, Proofpoint, and Thales.
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Key Benefits For Stakeholders:
• The study provides an in-depth analysis of the Sensitive Data discovery market trends along with current trends and future estimations to elucidate imminent investment pockets.
• Information about key drivers, restraints, and opportunities and their impact analysis on the sensitive data discovery market growth is provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the sensitive data discovery industry.
• The quantitative analysis of the Sensitive Data discovery market for the period 2020–2030 is provided to determine the sensitive data discovery market size.
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