Global Data Loss Prevention Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The global data loss prevention market was valued at USD 1,497.81 million in 2021. 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 and 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 worldwide.
• As the demand for digital assets increased, there has been a massive growth in the amount of structured and unstructured data, driving the need for data protection services with a strategic focus on data-centric organizations. Multiple large enterprises in the fortune global 500 have invested in the DLP market for over a decade. Currently, the market studied has emerged as a critical security strategy within reach of mid-sized enterprises.
• Historically, DLP solutions were utilized in 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.
• The lack of awareness and uncertainty about the cost and brand value due to cyberattacks are the primary reasons organizations fall victim to data breaches. According to cybersecurity officials in the United States, Australia, and the United Kingdom, network defenders should use several mitigation strategies to limit the risk and impact of ransomware attacks. One of the ways is to enhance user knowledge of the dangers of visiting questionable websites, clicking suspicious links, and opening suspicious attachments.
• With the emergence of the COVID-19 pandemic, the market is anticipated to grow further as the total volume of data being generated across the world is rising much faster. According to Seagate Technology PLC, the volume of data is anticipated to reach around 149 zettabytes by 2024 from 26 zettabytes in 2017. Moreover, enterprises worldwide are increasingly adopting better security solutions as part of their digital transformation process, thereby augmenting the market's growth.
• Moreover, as a result of the COVID-19 lockdowns that have been put in place along with the switch to remote working environments, an unprecedented number of people are now making usage of mobile devices as their primary communications device, thereby creating more endpoints for the organization to secure from the rising cyber threats.

Scope of the Report

The DLP solutions deployed by organizations across the world primarily ensure a secure data transaction for these organizations. The scope of the study covers the deployment type (on-premise and cloud-based), types of DLP solutions (Network DLP, Endpoint DLP, Datacenter/Storage-based DLP) based on the ratio of expenditure-related insights from the secondary sources.

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Key Market Trends

Rising Data Breaches and Cyber Attacks Across The World to Drive the Market

• The increasing instances of data breaches across multiple industries have resulted in leaking millions of consumer data records to hackers and the loss of millions of dollars for multiple impacted companies, which have increased the focus on security solutions across the emerging economies.
• As businesses worldwide grow, new threats, such as zero-day malware, trojans, and advanced persistent threats, have exposed critical data to risk. This has encouraged organizations to deploy DLP solutions to safeguard their data within endpoints and networks against potential attacks.​
• The increasing adoption of BYOD trends in organizations has increased the influx of different laptops, desktops, and smartphones, which has created different endpoints vulnerable to attacks. Security measures on their own are not enough to stop them. The massive growth in the adoption of mobile devices across the world is expected to create significant opportunities during the forecast period. According to the Cisco Annual Internet Report, there will be approximately 29.3 billion networked devices by 2023, up from 18.4 billion in 2018. Smart manufacturing and the smart industry are expected to augment it with the increased adoption of 5G and beyond.
• Ransomware threat actors targeted software supply chain businesses worldwide in 2021, compromising and extorting their clients. By focusing on software supply chains, ransomware threat actors can expand the scope of their assaults by gaining access to several victims through a single initial penetration.
• Ransomware authors attacked cloud infrastructures, which took advantage of known weaknesses in cloud apps, virtual machine software, and virtual machine orchestration software. To prohibit access to cloud resources and encrypt data, ransomware threat actors also targeted cloud accounts, cloud application programming interfaces (APIs), and data backup and storage systems. Threat actors sometimes get direct access to cloud storage systems via compromising local (on-premises) devices and migrating laterally to the cloud systems, in addition to exploiting vulnerabilities to gain direct access. Threat actors using ransomware have also attacked cloud service providers, encrypting massive volumes of client data.
• Moreover, there has been double-digit growth in the number of endpoints, primarily owing to the rapidly increasing adoption of automation due to Industry 4.0, machine-to-machine communication, and the emergence of smart cities. Consequently, the need to protect the vulnerability of data and devices and deploy tools to recognize attacks and minimize the damage is critically important.​ Therefore, the increasing adoption of automation technology is expected to drive the studied market growth in the forecast period.

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