Market Size of Data Classification Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 24.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Data Classification Market Analysis
The global data classification market is expected to register a CAGR of about 24.0% during the forecast period 2021-2026. Owing to the technological advancements that support government regulations and compliances in the developed regions is expected to fuel the growth for data classification solutions in the global market.
- Three and five-tiered classification scheme for public data management in the countries like the US and UK are creating potential space for industry vendors in the domain. Banks, insurance companies, and other financial services firms are the primary users of data classification solutions as they have to deal with large volumes of Personally Identifiable Information (PII) and government regulations for data protection.
- Other industries such as retail, government, and healthcare where user's data are considered highly confidential, implement data classifications solution to maintain integrity and confidentiality of the data. The surge in analytics applications with stored data and concern for data theft due to mismanagement are some of the driving factors expected to enhance the market for data classification solutions in the forecast period.
