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Data-Loss Prevention (DLP) Market will rise due to need of Protection of Sensitive and Proprietary Information: Radiant Insights

“Radiant Insights – Market Research and Consulting”
This report studies the global Data-Loss Prevention (DLP) market, analyzes and researches the Data-Loss Prevention (DLP) development status and forecast in United States, EU, Japan, China, India and Southeast Asia.

The global data-loss prevention (DLP) market is anticipated to grow at a remarkable CAGR over the forecast period (2017 to 2022), according to a report on Radiant Insights, Inc. Data-loss prevention software is used in major corporations to detect data leaks or breaches. This is done by monitoring, detecting, and blocking sensitive data during three major stages – endpoint, network, and data storage.

The market is primarily driven by data privacy regulations such as the Sarbanes-Oxley Act (SOX) and payment card industry data security standard (PCI-DSS), amid the recent security breaches at Sony and JP Morgan Chase. Other factors influencing adoption of DLP software include protection of sensitive and proprietary information, DLP as a hosted service, and growing trend of cloud computing. The proliferation of the Internet and consumption of social media by consumers are predicted to increase the implementation of DLP by corporations to maintain data integrity and preserve the security of individuals.

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The different solutions offered by data security corporations are expected to assist security and risk professionals in creating astute strategies. The trend of bring-your-own-devices (BYOD) is anticipated to bring more stringent DLP policies to control sharing of data over networks. The attempt by hackers to target cloud accounts has led to the development of adept security solutions such as the Symantec CloudSOC cloud access security broker (CASB) to prevent access to sensitive data on cloud-based applications. Lack of awareness of DLP software may act as an impediment towards market growth.

The data-loss prevention market is segmented by type, end user, and region. By type, the market is divided into standard measures, advanced measures, and designated systems. Key market end users include individuals, family, and enterprises.
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Regions covered in the data-loss prevention (DLP) market report are India, China, Japan, Southeast Asia, European Union (EU), and United States (U.S.). The U.S. market is expected to grow tremendously over the forecast period due to presence of various conglomerates and their data security needs. The leaked documents of the Central Intelligence Agency (CIA) were a recent case which spurred the adoption of DLP software in the region. The EU market is driven by stringent data protection policies such as the EU Data Protection Drive aimed at protecting the sovereignty of personal information. In addition, the proposal to adapt the General Data Protection Regulation (GDPR) created to protect user data across all nations in the EU is anticipated to further market demand.

The China, India, and Japan data-loss prevention (DLP) market are predicted high growth owing to the recent cyber attacks and ransom ware attacks. These markets are expected to witness an increase in budgetary spending regarding system security. This move is expected to bode well for overall market demand. Development of endpoint security software and threat intelligence gateways is some of the strategies being considered by IT players residing in the region. Recently, Amazon Web Services (AWS) embedded the DLP software as part of its Cloud offering.

Prominent players in the data-loss prevention (DLP) market include Symantec Corporation; Trend Micro Inc.; McAfee, Inc.; Check Point Software Technologies Ltd.; and Force point. Acquisitions were one of the biggest strategies used by large corporations to sustain their market hold. Recently, Digital Guardian acquired Code Green Networks, Inc. in 2017 to extend its data protection services from network to Cloud and mobile. Partnerships are also being used by companies to integrate their solutions with other corporations to effectively follow data security regulations.

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