Data Classification Market Size, Share | Industry Trends 2027

Data Classification Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Solution (Solution, Services); Application (GRC, Web, Mobile, and Email Protection, Others); Vertical (BFSI, IT and Telecom, Media and Entertainment, Retail, Education, Healthcare, Others)

  • Report Code : TIPRE00003043
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 151
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The data classification market was valued at US$ 568.80 million in 2019 and is projected to reach US$ 3,577.49 million by 2027. The Data classification market is expected to grow at a CAGR of 27.6% from 2020 to 2027.

The data classification is a tool that classifies enormous data into varied tabs to maximize most out of it while maintaining the privacy of confidential data. The commercialization of data protection laws such as GDPR and Health Insurance Portability and Accountability Act (HIPAA) is directly linked to impact the scope of data classification worldwide. Growing business data and cloud migrations, ramp up of personal data identification, threat to privacy in email, leverage of machine learning, and converge of data management and data protection are among the factors that play a significant role in accelerating the scope of data classification. The data classification is receiving high momentum across the world. The roll-out of data classification tool to combat situation of cyber threats is paving the path for the market growth. Also, growing emphasis on data protection laws by government authorities in countries such as the UK, the US, Germany, and Singapore is propelling the adoption rate of data classification. Moreover, the integration of sophisticated technologies such as machine learning and artificial intelligence into data classification tools accelerates the output and productivity of entire business. For instance, 40% of US firms use ML to improve their sales and marketing strategies, and the European banks have witnessed increase in product sales by 10% and lower churn rates by 20% with ML.

The data classification market is segmented into component, application, vertical, and geography. Based on component, the solution segment held the largest share of global data classification market. The data classification solution derives security controls applied to the particular set of data. Based on application, the web, mobile, and email protection segment dominated the global data classification market in 2019. With rise in the use of email, mobile, and web application for transferring data among corporates and industries, the data protection and data classification tools have become a necessity. Based on vertical, the BFSI segment contributed a substantial share in 2019 and is projected to continue its dominance during the forecast period. Geographically, the market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).

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Data Classification Market: Strategic Insights

Data Classification Market

  • CAGR (2019 - 2027)
    27.6%
  • Market Size 2019
    US$ 568.80 Million
  • Market Size 2027
    US$ 3,577.49 Million

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • BOLDON JAMES
  • DATAGUISE
  • Google LLC
  • Informatica
  • Microsoft
  • Netwrix Corporation
  • Open Text Corporation
  • PKWARE, Inc.
  • Symantec Corporation

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Solution
  • Solution
  • Services
Application
  • GRC
  • Web
  • Mobile
  • Email Protection
  • Others
Vertical
  • BFSI
  • IT and Telecom
  • Media and Entertainment
  • Retail
  • Education
  • Healthcare
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Data classification Market Insights

Government Mandates in Developed Nations

The US, Germany, the UK, and Singapore are among the countries where the government has regulated IT companies with data encryption and protection laws owing to which tech firms are finding opportunities in these markets to promote their data classification services. The US and UK governments have set up three-tiered data classification schemes for the public sector. Even the Washington government has gone beyond this range and established a five-tiered classification scheme and has been well applauded by the region's open data advocates by creating potential space for the domain's industry vendors. Various financial services companies, such as insurance companies and banks, are the primary users of data classification solutions as they have to deal with large volumes of personally identifiable information (PII) and government data protection regulations.


Component -Based Market Insights

On the basis of component, the data classification market is segmented into solution and services. Titus, Boldon James, Digital Guardian, Spirion, and Netwrix are some prominent players prevailing in the market to cater needs of data protection and data classification. The companies offer complete data classification tool accompanied with range of services to make sure proper performance of the solution.

Application -Based Market Insights

Based on application, the data classification market is segmented into governance, risk and compliance, web, mobile and email protection, and others.

Vertical -Based Market Insights

Based on vertical, the data classification market is segmented into: BFSI, IT and telecom, media and entertainment, retail, education, healthcare, others. Banks and various other financial industry companies use Machine Learning (ML) technology for two essential purposes: identifying valuable data insights and preventing fraud. The insights can identify opportunities to invest or help investors know when to trade.

Players operating in the Data classification market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the data classification market. A few developments by key players of the data classification market are:

In March 2020, Netwrix, allows information security and governance professionals to retrieve control on confidential, regulated and business-critical data. The company introduced Netwrix Data Classification 5.5.2.

In November 2018, Titus, a leader in data protection solutions has introduced Titus Intelligent Protection. The new tool provides machine learning driven by classification to lower risk of data loss.

Data Classification Market Report Scope

Report Attribute Details
Market size in 2019 US$ 568.80 Million
Market Size by 2027 US$ 3,577.49 Million
Global CAGR (2019 - 2027) 27.6%
Historical Data 2017-2018
Forecast period 2020-2027
Segments Covered By Solution
  • Solution
  • Services
By Application
  • GRC
  • Web
  • Mobile
  • Email Protection
  • Others
By Vertical
  • BFSI
  • IT and Telecom
  • Media and Entertainment
  • Retail
  • Education
  • Healthcare
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • BOLDON JAMES
  • DATAGUISE
  • Google LLC
  • Informatica
  • Microsoft
  • Netwrix Corporation
  • Open Text Corporation
  • PKWARE, Inc.
  • Symantec Corporation
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Data Classification Market – by Solutions

    • Solution
    • Services


    Data Classification Market – by Application

    • GRC
    • Web
    • Mobile
    • Email Protection
    • Others


    Data Classification Market – by Verticals

    • BFSI
    • IT and Telecom
    • Media and Entertainment
    • Retail
    • Education
    • Healthcare
    • Others


    Data Classification Market – by Geography

    • North America

      • US
      • Canada
      • Mexico
    • Europe

      • France
      • Germany
      • Russia
      • UK
      • Italy
      • Rest of Europe
    • Asia Pacific (APAC)

      • China
      • India
      • Japan
      • Australia
      • South Korea
      • Rest of APAC
    • MEA

      • Saudi Arabia
      • UAE
      • South Africa
      • Rest of MEA
    • SAM

      • Brazil
      • Argentina
      • Rest of SAM


    Data Classification Market – Company Profiles

    • Boldon James
    • Google LLC
    • Microsoft Corporation
    • Open Text Corporation
    • DATAGUISE
    • Informatica
    • Netwrix Corporation
    • PKWARE, Inc.
    • Titus
    • Varonis
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Solution ; Application ; Vertical

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    The List of Companies - Global Data Classification Market

    1. BOLDON JAMES
    2. DATAGUISE
    3. Google LLC
    4. Informatica
    5. Microsoft
    6. Netwrix Corporation
    7. Open Text Corporation
    8. PKWARE, Inc.
    9. Symantec Corporation
    10. Titus

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

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    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

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    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

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    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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