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(Wireless-NewsWire.Com, June 01, 2018 ) Cyber security emerged as a new phenomenon with the development of the IT industry. Cyber security has evolved with rapid pace and now plays a pivotal role in protecting the networks, endpoints, cloud, and wireless from harmful hazards. Confined to its own narrow approach in the initial days, cyber security is now a board-level issue for the corporate arena. This transformation is primarily due to cyber-attacks, which in the earlier days were carried out by thrill-seeking amateurs, but have now come under the realm of organized crime being carried out by expert professionals backed by rival enterprises and even nation-states to damage the intellectual and financial assets of businesses and nations. Moreover, data loss prevention can be viewed as a more comprehensive data security solution or as a more preventive measure in response to data breaches.
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Rising compliance and regulatory requirements across the globe are the key factors driving the growth of the Data Loss Prevention market. As regulatory requirements such as Sabanes-Oxley Act (SOX), Health Insurance Portability and Accountability Act (HIPAA), and Gramm-Leach-Bliley Act (GLBA) help to drive the demand for DLP solutions and services among Small and Medium Businesses (SMBs) and large enterprises. Moreover, the high rate of Internet penetration and increasing dependency on it for communication has gained the attention of criminals and hackers. Thus, there has been a surge in cases of data breaches; to mitigate these risks, the DLP vendors have started offering DLP as part of a more broadly constituted portfolio of products. The data loss prevention market is thus expected to experience significant growth over the coming years.
The growing number of data thefts across the globe present a comprehensive opportunity for DLP vendors in the market space. Apart from these, factors such as meeting compliance and regulatory mandates, demand shift towards public and private cloud, are boosting up the demand for DLP solutions. It is expected that the data loss prevention market will show enormous growth in the coming years.
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The notable players in this domain such as Symantec, CA Technologies, RSA, Websense, Trend Micro, Digital Guardian, Zecurion, Trustwave and Code Green Networks are expected to develop more advanced and user-friendly solutions to equip organizations with the necessary tools to combat cyber-attacks and thus, create notable market traction during the forecast period.
The table given below highlights the market size by sub-segment. The data loss prevention market size is expected to grow from $0.96 Billion in 2015 to $2.64 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 22.3% from 2015 to 2020.
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