Jun 01, 2020 (Market Insight Reports) -- Data Loss Prevention Market – Growth, Trends, And Forecast (2019 – 2024) this market research provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Research classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
The data loss prevention market is expected to witness a CAGR of 23.59% during the forecast period 2019-2024
Market By Top Leading Players-
Symantec Corporation, CA Technologies, Trend Micro Incorporated, GTB Technologies Inc., Cisco Systems Inc., Digital Guardian, Inc., Forcepoint LLC, McAfee LLC, Zecurion, Absolute Software Corporation, Proofpoint, Inc., Gemalto N.V.
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Market Detailed Analysis:
Healthcare Industry to Witness Significant Growth
– The technological advancement in components such as sensors and their application in healthcare is opening doors for the adoption of industry 4.0 and data analytics. Hence, digital transformation is taking place rapidly.
– According to a survey by HIMSS, 60% of healthcare organizations use the cloud for backup and data recovery. Also, 51% are using the cloud for its core clinical operations and data.
– Therefore, health-related data are moving more and more from paper to electronic records, determining changes in how healthcare organizations processing healthcare records are managing and protecting the confidential data today. This has resulted in an increase in electronic health/medical records which will require data loss prevention.
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North America to Account for the Largest Market Share
– The dominance of North America in the market studied can be attributed to the early and robust adoption of Big Data and cloud technologies. However, the region has an advanced infrastructure capability, thus leading to the most significant revenue generation, in the market studied.
– In 2018, 1,244 data breach incidences were recorded only in the United States with 446.52 million records exposed (126% rise from the previous year). The rise in the number of cyber-attacks and the need to protect data are boosting the demand for DLP (data loss prevention) solutions, across various businesses.
– Moreover, the enactment of stringent government initiatives to enhance the security of customer information is projected to boost the growth of the North American segment, over the forecast period.