USD 6.03 billion Growth in Data Loss Prevention Market with Accelerating CAGR of 23.78% – Growing Use Of Cloud For Data Storage to Boost Market Growth – Technavio

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Key Market Dynamics:

• Market Driver: The growing use of the cloud for data storage is one of the key drivers supporting the data loss prevention (DLP) market growth. Meanwhile, significant costs associated with the upkeep and operation of the existing infrastructure are handled by third-party providers, in turn reducing the burden on the organization’s IT budget. Therefore, cloud computing reduces the total cost of ownership. This leads the enterprises to adopt DLP solutions to ensure that the sensitive data in the cloud is protected while the enterprise and its employees benefit from the efficiency and scalability of the cloud. Thus, the increasing adoption of cloud-based data storage solutions will propel the growth of the global DLP market during the forecast period.
• Market Challenge: Issues with the deployment of DLP solutions is one of the factors hampering the data loss prevention (DLP) market growth. The DLP solutions can have performance limitations when there are a large number of rules or definitions in them. On the network side, the DLP tools that were originally designed for scanning outbound emails, when applied to real-time traffic, can suffer from too many performance limitations and false positives that can make real-time blocking difficult to implement. This could pose a threat to the growth of the data loss prevention (DLP) market during the forecast period.

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Market Segmentation Insights

The data loss prevention market report is segmented by Deployment (Cloud-based and On-premise) and Geography (North America, Europe, APAC, South America, and Middle East and Africa).  

• Regional Opportunities: North America will be the leading region with 40% of the market’s growth during the forecast period. The US is the key market for the data loss prevention market in North America. Market growth in this region will be slower than the growth of the market in APAC. An increase in investments by DLP providers from European countries will propel the data loss prevention market growth in North America over the forecast period. 
• Revenue-generating Segment Analysis: The data loss prevention market share growth by the cloud-based segment will be significant during the forecast period. Cloud-based DLP solutions are designed to protect enterprises that have adopted cloud storage for addressing business needs with efficiency and speed by ensuring that sensitive data is encrypted before being delivered to the cloud and is only sent to authorized cloud applications. Due to the increasing number of data breaches in the cloud, the average cost of a data breach is also increasing, which, in turn, is raising the demand for cloud-based DLP solutions. This factor will propel the DLP market growth during the forecast period.

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Some Companies Mentioned with their Offerings

• Acronis International GmbH
• Broadcom Inc.
• Check Point Software Technologies Ltd.
• CoSoSys Srl
• Dell Technologies Inc.
• Digital Guardian Inc.
• Forcepoint LLC
• GTB Technologies Inc.
• HelpSystems LLC
• InfoWatch
• Jive Software
• McAfee Corp.
• Open Text Corp.
• Proofpoint Inc.
• SearchInform Ltd.
• Somansa Technologies Inc.
• Spirion LLC
• Trend Micro Inc.
• Trustwave Holdings Inc.
• Zecurion Inc.
• Access more vendor profiles with their key offerings available with Technavio, Download Sample PDF Report

Related Reports:

Data Protection and Recovery Software Market by End-user and Geography – Forecast and Analysis 2022-2026

Data Protection as a Service Market by Application and Geography – Forecast and Analysis 2021-2025

Key Topics Covered:

• Executive Summary
• Market Landscape
• Market Sizing
• Five Forces Analysis
• Market Segmentation by Deployment
• Customer landscape
• Geographic Landscape
• Vendor Landscape
• Vendor Analysis
• Appendix

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