Data Loss Prevention Market Worth $2.64 Billion by 2020
PUNE, India, September 16, 2015 /PRNewswire/ --
According to a new market research report, "Data Loss Prevention Market By Solution Type (Network DLP, Storage DLP, Endpoint DLP), by Deployment Type (On-Premise, Cloud), by Applications, by Service, by Organization Size, by Vertical, and by Regions - Global Forecast to 2020", published by MarketsandMarkets, The Data Loss Prevention Market is estimated to grow from $0.96 Billion in 2015 to $2.64 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 22.3% from 2015 to 2020.
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The market report defines and segments the Data Loss Prevention market into different sub-segments with an in-depth analysis and market size estimation. It also identifies the drivers and restraints for this market with insights on trends and opportunities
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MarketsandMarkets has broadly segmented the DLP Market by solution type: network DLP, storage DLP, and endpoint DLP; by application: encryption, centralized management, policy, standards, and procedures, web and email protection, cloud storage, incident response and workflow management; by service: consulting, system integration and installation, managed security services, education and training, and risk and threat assessment; by deployment type: on premise and cloud; by organization size: SMB and enterprise; by vertical: aerospace, defense & intelligence, Banking, Financial Services, and Insurance (BFSI), government, healthcare, manufacturing, retail and logistics, telecommunication and IT, and other verticals; and by country: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America (LA).
The major force driving this market is expected to be the demand regulations and compliance and increase in data breaches. As enterprises are using public and private cloud opportunities such as Office 365, Box, and Amazon Web Services toward enhancing their operational agility and mobile workforce productivity, and lowering the costs which has created demand for Data Loss Prevention solutions has increased. Moreover, the law enforcement agencies are promoting efficient and effective use of technology toward protecting individual and organization data. The acts such as Gramm-Leach-Bliley Act (GLBA), Health Insurance Portability and Accountability Act (HIPAA), and Personal Information Protection and Electronics Document Act (PIPEDA) and standards such as Payment Card Industry Data Security Standard (PCI-DSS) and Sarbanes-Oxley Act (SOX) necessitate organizations to meet the requirements with these standards. The enterprises across the APAC region are expected to start investing in DLP projects in the coming years due to continuous sophisticated cyber-attacks on critical infrastructure.
The Data Loss Prevention Market is estimated to grow from $0.96 billion in 2015 to $2.64 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 22.3% from 2015 to 2020. On the basis of regions, North America is expected to be the largest market in terms of market size, while emerging regions such as APAC and MEA are expected to experience increased market traction with high CAGRs during the forecast period
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