Data Loss Prevention Market to Register Revenues of $5058.98 Million by 2027 – Exclusive Report by Mordor Intelligence
Data Loss Prevention Market Overview
The global data loss prevention market was valued at USD 1,497.81 million in 2021, and it is expected to reach a value of USD 5,058.98 million by 2027, registering a CAGR of 22.29% during the forecast period (2022-2027). The rapidly increasing instances of data breaches, along with other factors, such as DLP-as-a-service, DLP functionalities extending into the cloud, and advanced threat protection, have significantly increased the focus on data loss protection solutions across the world. DLP solutions were majorly utilized in the regulated industries, such as healthcare, financial services, manufacturing, energy, and government. However, with the rising need for protection, DLP solution providers have been targeting the advisory and services companies dealing with a wide range of end-user industries.
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Rising Data Breaches in the United States
- According to the Identity Theft Resource Center (ITRC), the average number of breaches in the United States has increased marginally over the past few years. The number of data breaches faced by the United States increased from 1,506 breaches in 2017 to 1,826 breaches in 2021 (Source – ITRC’s Data Breach Report 2021).
- Also, the increasing number of data breaches in the country in 2021 has impacted around 293.93 million individuals. (Source – ITRC’s Data Breach Report 2021). These increasing activities of data breaches in various industries are expected to be the primary factor driving the demand for data loss prevention solutions during the forecast period.
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Emerging Data Protection in Healthcare Avenues
- The healthcare industry in the United States is also witnessing many data breaches as health-related data is moving rapidly toward electronic records. This has resulted in an increase in electronic health/medical records, which requires data loss prevention solutions.
- In March 2022, Quebec’s Premier and Health Minister announced the reformation of Quebec’s health system, including the management of health and social services information. The government has introduced Bill 19, which aims to set up a new management system that modernizes and decentralizes the health network to enable a safer and more seamless flow of health and social services information.
Recent Developments in the Data Loss Prevention Market
- May 2022 – McAfee Corporation conducted its first-ever Global Connected Family Study, surveying 15,500 parents and over 12,000 of their children in 10 countries to learn how they connect and protect themselves and their loved ones online. The 2022 Connected Family Study reveals stark differences in global attitudes and actions taken by families to protect their loved ones, as well as how the most vulnerable may be left unprotected.
- May 2022 – Broadcom Inc. announced the availability of samples of its complete end-to-end Wi-Fi 7 chipset solutions, which include Wi-Fi routers, residential gateways, enterprise access points, and client devices. These Wi-Fi 7 chips more than double the speed of current Wi-Fi 6 and 6E solutions while also providing reliable low-latency communications and an extended range.
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List of Key Players in the Data Loss Prevention Market
- Broadcom Inc. (Symantec)
- Mcafee Llc
- GTB Technologies Inc.
- Digital Guardian Inc.
- Forcepoint LLC
- Securetrust (vikingcloud)
- Trend Micro
- Check Point Software Technologies Ltd
- Proofpoint Inc.
- Spirion Llc
*List Not Exhaustive
Mordor Intelligence has segmented the Data Loss Prevention Market based on deployment, solution, end-user industry, and geography:
- Deployment (Market Size & Forecast based on Value (USD million), 2020-2027)
- Solution (Market Size & Forecast based on Value (USD million), 2020-2027)
- Network DLP
- Endpoint DLP
- Datacenter/Storage-based DLP
- End-user Industry (Market Size & Forecast based on Value (USD million), 2020-2027)
- IT and Telecommunication
- Retail and Logistics
- Other End-User Industries
- Geography (Market Size & Forecast based on Value (USD million), 2020-2027)
- North America
- United States
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
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