Data Loss Prevention Market is expected to grow at a CAGR of 22.58%

According to TechSci Research report, “Data Loss Prevention Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2019-2029”, the Global Data Loss Prevention Market is expected to register robust growth during the forecast period. Data loss prevention (DLP) solutions safeguard sensitive data from being stored, used, or transmitted insecurely. By safeguarding the data, it reduces the probability of data theft or unauthorized exposure. Cloud DLP solutions precisely protect enterprises that have adopted cloud storage by safeguarding sensitive data from entering the cloud before being encrypted. After encryption, it allows the data to be shared with authorized cloud applications. Most of these solutions alter or remove sensitive data before being shared on the cloud for ensuring data protection while in transit as well as cloud storage. The endpoint DLP segment is expected to grow at a CAGR of 23.8% during the forecast period. Endpoint DLP solutions assist organizations in preventing data breaches by tracking and controlling data transfers and endpoint access. Data categorization, encoding, enforcement of policies, and user engagement surveillance caters to endpoint solutions.Endpoint DLP enables organizations to protect sensitive data while also ensuring regulatory compliance. It aids in preventing data leakage across various sources, such as email communication, portable devices, cloud-based storage, and internet connections.Endpoint DLP offers organizations an in-depth and adaptive approach to data security, legal compliance, and risk mitigation. It contributes to maintaining data quality, security, and accessibility, thereby protecting sensitive information and limiting the consequences of data breaches.

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Cloud-computing adoption has been increasing rapidly, with cloud-specific spending expected to grow at more than six times the rate of general IT spending through 2020 as the growing market trend which is driving the cloud DLP market. In addition, Cloud providers are offering strong native optimization capabilities to help organizations select the most cost-effective architecture that can deliver the required performance. This is also driving the growth of the market.

Furthermore, several market players are acquiring to boost cloud adoption. For instance, IBM Corporation signed a definitive agreement to acquire Spanugo, a US-based provider of cloud cybersecurity posture management solutions. To further meet the security demands of its clients in highly regulated industries, IBM will integrate Spanugo software into its public cloud. this acquisition of Spanugo software will help accelerate the availability of a security control center that will enable IBM clients to define compliance profiles, manage controls, and in continuous real-time, monitor compliance across their organization.

Key market players in the Global Data Loss Prevention Market are: -

• BlackBerry Limited
• Broadcom, Inc.
• CheckPoint Software Technologies Ltd.
• Cisco Systems, Inc.
• Citrix Systems
• CrowdStrike Holdings Inc.
• Digital Guardian Inc.
• IBM Corporation
• Mcafee LLC
• Microsoft Corporation

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“Data loss prevention (DLP) is a process that makes sure end users do not share or send sensitive information outside of their organizational boundaries. The term "DLP" is often utilized to refer to software devices that allow network administrators to restrict end-user exchange and transmission of sensitive data.

These software solutions classify and preserve sensitive and confidential data using business principles because disclosing information to unapproved end users could put an organization at risk. Businesses may now identify and mitigate data loss issues more easily because of improvements in data security. Strict safety practices can help organizations reduce the chance of data loss situations by reducing the possibility of data breaches, unauthorized access, or unintentional data releases. As a result, the risk of unauthorized access or data leakage is reduced. Additionally, it ensures that the most sensitive data is safeguarded to the highest level of practicality. Due to the growth of digital data and the application of modern technologies like artificial intelligence (AI), robotics, the Internet of Things (IoT), big data, and cloud computing, both the volume and complexity of data continue to increase. This complexity opens up the potential for DLP solutions that can quickly locate, classify, and monitor sensitive data across various sources and platforms. Implementing and maintaining effective DLP solutions calls for specialized staff, specialized hardware infrastructure, and expensive software licenses. “said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Data Loss Prevention Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Deployment (On-premise and Cloud-based), By Solution (Network DLP, Endpoint DLP, and Datacenter/Storage-based DLP), By End-user Industry (IT and Telecom, BFSI, Government, Healthcare, Manufacturing, Retail, and Logistics)By Region, and By Competition 2019-2029” has evaluated the future growth potential of Global Data Loss Prevention Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Data Loss Prevention Market.

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