The global data loss prevention (DLP) market is predicted to expand at remarkable CAGR over the forecast period (2018 to 2022), according to a report available on Radiant Insights, Inc. Growing requirement for safety of sensitive data available in organizations is anticipated to propel demand for data loss prevention. It is expected to be a software designed to prevent and detect any kind of data breach by monitoring and blocking important data at rest or in use. In addition, it can also prevent accidental loss or transfer of sensitive data from any organizations.
Growing requirement for data loss prevention to protect data from cyber-attacks or decisive data theft can fuel growth of market. Rising number of data breaches and high-demand for safety of intellectual property against any theft can augment market growth. Increasing use of social media leading to sharing of advanced information is expected to spur growth of market over next few years. Rising number of internet users and cyber attackers can also surge demand for data loss protection over next few years. In addition, increasing number of ways according to which data can be extracted from any storage device or computer system prevent in an organization can augment growth of market. Implementation of digital solutions by various organization and expansion to new economies can drive growth of market. Moreover, increasing adoption of mobile and cloud within enterprise boundaries can spur demand for advanced data prevention solutions. This, in turn can fuel growth of market during the forecast period (2018 to 2022).
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Lack of awareness regarding benefits for data loss prevention can hinder growth of market over the forecast period. However, rising adoption of cloud based business models and increasing number of cyber-attacks globally are expected to create lucrative opportunities for market growth.
To cater to rising demand, most companies are estimated to invest in R&D activities to develop advanced software for data loss prevention. For instance, Avexta recently launched its new data loss prevention software named DataSense Protect. Other software available in the market are expected to use complex installations of end-points for scanning. Whereas, DataSense Protect is likely to centralize and perform scanning accordingly. It can search data within databases and documents to ensure that there is no risk for exposure. In addition, it is expected to provide an API for easy scanning of servers and creation of reports to integrate with existing systems.
The data loss prevention market can be segregated on the basis of deployment and region. Based on deployment, the market can be categorized into on-premise and cloud-based. Cloud based deployment of data loss prevention software in organization is expected to witness growth during the forecast period owing to ease of installation and cost-effectiveness.
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Regional segmentation includes Americas, Europe, Middle East & Africa, and Asia Pacific. Americas is predicted to dominate the market and account for largest market share. Growing adoption of cloud and big data technologies in the region can fuel growth of market.
In Asia Pacific, the data loss prevention market is estimated to witness significant growth owing to rising demand for advanced data loss prevention software in the region. In addition, increasing number of cyber-attacks on organizations established in this region can further fuel demand.
Similarly, in Middle East & Africa, the data loss prevention market is predicted to witness substantial growth during the forecast period attributed to rising cases of cyber-breaches in the region.
Some of the leading companies offering data loss prevention are McAfee, Raytheon, Digital Guardian, GTB Technologies, and Symantec.
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