Cloud DLP Market

Rising Data Breaches and Cyber Attacks Worldwide drives the market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, March 4, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " The Cloud DLP Market Size Garner USD 27.5 Billion Growing at 28.0% CAGR by 2031 Globally." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global cloud DLP market size was valued at USD 2.4 billion in 2021, and is projected to reach USD 27.5 billion by 2031, growing at a CAGR of 28% from 2022 to 2031.

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Rapidly rising cloud adoption and strict regulatory, compliance and enforcements have boosted the growth of the global cloud DLP market. Rise in data sprawl would unlock new opportunities in the future.

The global Cloud DLP market is segmented into component, enterprise size, industry verticals, and region. Depending on the component, the market is divided into software and services. Based on enterprise size, it is categorized into large enterprises and SMEs. Based on industry verticals, it is bifurcated into banking, financial services, and insurance (BFSI), retail and consumer goods, healthcare and life sciences, manufacturing, IT and telecommunications, government and public sector, education, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By enterprise size, the SMEs segment is projected to manifest the highest CAGR of 29.3% from 2021 to 2030, due to the increased the adoption of cloud security services by SMEs. However, the large enterprises segment held the largest share in 2021, accounting for nearly two-thirds of the global cloud DLP market, owing to rapidly growing digital data availability in the form of consumer profiles, customer feedback, and social media interactions, among others.

By industry vertical, the BFSI segment held the largest share in 2021, contributing to nearly one-fourth of the global cloud DLP industry. Due to rise of the internet and digital trends, most individuals are turning cashless, and all financial transactions are done through credit card scanners, online checkout pages, and mobile phones. This boosts the growth of the segment. However, the retail and consumer goods segment is expected to manifest the highest CAGR of 33.0% during the forecast period, owing to the increase in the need for stronger asymmetric encryption for retail sectors.

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By region, the market across North America dominated in 2021, accounting for nearly two-fifths of the global cloud DLP market, owing to increasing activities of data breaches in various sectors. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 30.1% during the forecast period, owing to the accelerating need for data protection in Asia-Pacific and cloud-based DLP applications in Asian countries such as India, Japan, Indonesia, South Korea, and Vietnam.

The global Cloud DLP industry is dominated by key players such as Broadcom Inc, Check Point Software Technologies LTD., Cisco Systems, Inc., Forcepoint, Help/Systems, LLC, Lookout, Inc., McAfee, LLC, Netskope, Zecurion and Zscaler, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the cloud DLP industry.

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Covid-19 Scenario:

● During the pandemic, the risk of data loss witnessed a sharp incline and created a new level of complexity around data loss protection, regulatory compliance, and governance.

● The cloud DLP market witnessed sudden growth due to 123% increase in data downloaded to USB devices by employees and 74% of the data was classified by organization data governance policies.

● The pandemic directly affected the daily operations of several industries by adopting remote working, which forced companies to move their business operations to the cloud. This, in turn, fueled the market growth.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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