Data Loss Prevention Market Size Reach USD 12 Billion by 2032, Key Factors behind Market’s Hyper Growth

Increased adoption of cloud-based DLP solutions, integration with collaboration platforms, and focus on user-centric DLP strategies boosts market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, April 18, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, The Data Loss Prevention Market Size Reach USD 12 Billion by 2032, Key Factors behind Market’s Hyper Growth. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

The global data loss prevention market size was valued at USD 2.1 billion in 2022, and is projected to reach USD 12 billion by 2032, growing at a CAGR of 19.2% from 2023 to 2032.

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The high cost of implementation and complexity of integrating with existing cybersecurity infrastructure can hinder market growth. However, enterprise-wide shifts toward remote and hybrid work models and growth in the adoption of cloud services across sectors offer lucrative opportunities for market players.

The data loss prevention market is segmented on the basis of type, deployment mode, application, end-use industry, and region. On the basis of type, the market is segmented into network DLP, endpoint DLP, and storage DLP. On the basis of deployment mode, the market is segmented into on-premise, hybrid, and cloud. On the basis of application, the market is segmented into cloud storage, policy standards and procedures, encryption, web and e-mail, and others. On the basis of the end-use industry, the market is segmented into BFSI, healthcare, retail, IT and telecom, government and defense and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on end-use industry, the BFSI segment is projected to witness an exponential rate of 22.6% over the forecast period. This is attributed to increase in the adoption of digital solutions in the BFSI sector has led to the development of completely advanced programs that adhere to the maintenance of security systems, which further contribute to the global market growth in this sector.

Based on application, the cloud storage segment accounted for the largest share in 2022, contributing to more than one-third of the data loss prevention market revenue, owing to the growth in demand for data loss prevention for cloud-based services. However, the encryption segment is expected to witness the largest CAGR of 22.3% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. It provides various benefits to several organizations.

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Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the data loss prevention market revenue. The increase in the usage of data loss prevention in businesses to improve businesses and the customer experience is anticipated to propel the growth of the market in this region. However, Asia-Pacific is projected to manifest the highest CAGR of 21.2% from 2023 to 2032. Countries such as China, India, and South Korea are at the forefront, embracing digital technologies to enhance their effectiveness and competitiveness, which is further expected to contribute to the growth of the market in this region.

The market players operating in the data loss prevention market are Check Point Software Technologies Ltd., Cisco Systems, Inc., Forcepoint LLC., IBM Corporation, Microsoft Corporation, Next DLP, Inc., Palo Alto Networks, Inc., Proofpoint, Inc., Broadcom Inc. And Trend Micro Incorporated. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the data loss prevention market globally.

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KEY FINDINGS OF THE STUDY

● By solution type, the storage/Data center DLP segment accounted for the largest data loss prevention market size in 2022.
● By deployment mode, the on-premise segment accounted for the largest data loss prevention market share in 2022.
● By application, the cloud storage segment is anticipated to grow at an exponential growth rate in data loss prevention market forecast period.
● By industry vertical, the IT & Telecom segment accounted for the largest data loss prevention market share in 2022.
● Region wise, North America generated the highest revenue in 2022.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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