Data Loss Prevention Market Drivers, Trends, and Forecast by 2031

The data loss prevention market is expected to register a CAGR of 22.4% during 2023–2031. Integration with advanced technologies such as AI and ML is likely to remain a key trend in the market.

Data Loss Prevention Market Analysis

• The data loss prevention market includes growth prospects owing to the current market trends and their foreseeable impact during the forecast period.
• The data loss prevention market is growing owing to factors such as increasing cyber threats, rising remote work models, and stringent government regulations.
• Increasing adoption of zero trust security model to provide lucrative opportunities for the data loss prevention market.

Data Loss Prevention Market Overview

• Data loss prevention (DLP) is a set of tools and processes used to ensure that sensitive data is not lost, misused, or accessed by unauthorized users. 
• Data loss prevention tools can help organizations monitor and protect sensitive information across on-premises systems, cloud-based locations, and endpoint devices.
• These tools also help to achieve compliance with regulations such as the Health Insurance Portability and Accountability Act (HIPAA), General Data Protection Regulation (GDPR) and others.

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Data Loss Prevention Market: Strategic Insights

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Data Loss Prevention Market Drivers and Opportunities

Increasing Cyberthreats to Favor Market

• Businesses are facing continuous threat of cybercrimes, as they have grown more widespread in recent years.
• According to Embroker Insurance Services LLC, cyberattacks were considered the fifth top-rated risk in 2021, and cases continue to rise with technological advancements. Computer malware, data breaches, and denial of service (DoS) are a few examples of cyber risks.
• According to OneLogin, cybercrime costs more than US$ 1 trillion worldwide, as 37% of organizations were affected by ransomware and 61% were affected by malware attacks in 2021.
• According to the Clusit Report, cyberattacks across the globe have increased by 10% in 2021 when compared to the previous year. For instance, according to AAG, the UK had the highest figure of cybercrime victims per million internet users (4,783 users) in 2022, an increase of 40% over 2021 figures.
• The average cost of a cyber breach was US$ 4.35 million in 2022, and it is predicted that this value is expected to reach US$ 10.5 trillion by 2031.

Increasing Adoption of Zero Trust Security Model

• Zero trust is reshaping the privileged access management solution in a new era of stringent security practices.
• The goal of the zero trust security model is to grant access to assets as precisely as early as possible so that employees have permission to use specific accounts, applications, or equipment only when needed and for a specific reason.
• Complying with the zero trust security approach will be essential for data loss prevention solutions in the future.

Data Loss Prevention Market Report Segmentation Analysis

Key segments that contributed to the derivation of the data loss prevention market analysis are component, deployment, and end user.

• By component, the market is bifurcated into solution and services.
• By deployment, the market is bifurcated into on-premise and cloud-based.
• By end user industry, the market is segmented into IT and telecom, BFSI, government, healthcare, manufacturing, retail and logistics, and others.

Data Loss Prevention Market Share Analysis by Geography

• The data loss prevention market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering data loss prevention market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the data loss prevention market in these regions.

Data Loss Prevention Market Regional Insights

The regional trends and factors influencing the Data Loss Prevention Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Data Loss Prevention Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Data Loss Prevention Market Report Scope

Data Loss Prevention Market Players Density: Understanding Its Impact on Business Dynamics

The Data Loss Prevention Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Data Loss Prevention Market are:

1. Broadcom Inc.
2. CoSoSys Ltd.
3. Digital Guardian, Inc.
4. Forcepoint, LLC
5. GTB Technologies, Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

Data Loss Prevention Market News and Recent Developments

The data loss prevention market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the data loss prevention market are listed below:

• CoSoSys, a leader in Data Loss Prevention (DLP) and insider threat management, has announced the latest version of its award-winning endpoint protector solution. Endpoint Protector v5.5.0.0 introduces a host of new features, including advanced content detection, allowing organizations to build even more targeted data protection policies, reduce false positives, and tackle the growing complexity of their hybrid work environments. With these advanced capabilities, the company is able to help customers both strengthen and simplify data security. (Source: CcSoSys Ltd, Press Room, February 2022)
• Proofpoint, Inc. announced the completion of the acquisition of Tessian, a leader in the use of advanced AI to automatically detect and guard against both accidental data loss and evolving email threats. The combined platform will help organizations prevent data loss across the most critical collaboration channels, from email to the cloud to the endpoint, leveraging an industry-first combination of user activity, behavioral AI, and data classification. (Source: Proofpoint, Press Release, December 2023)

Data Loss Prevention Market Report Coverage and Deliverables

The “Data Loss Prevention Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Data loss prevention market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Data loss prevention market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Data loss prevention market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the data loss prevention market
• Detailed company profiles