Global Data Protection Market Size To Exceed USD 610.1 Billion By 2033 | CAGR of 16.1%

Global Data Protection Market Size To Exceed USD 610.1 Billion By 2033          

According to a research report published by Spherical Insights & Consulting, the Global Data Protection Market Size is to Grow from USD 136.2 Billion in 2023 to USD 610.1 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 16.1% during the projected period.

Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Data Protection Market Size, Share, and COVID-19 Impact Analysis, By Component (Solutions, Services), By  Deployment Mode (Cloud, On-premises), By Organization Size (Small & Medium-sized Enterprises (SMEs), Large Enterprises), By Industry Vertical (Government & Defense, Banking, Financial Services & Insurance (BFSI), Healthcare, IT & Telecom, Consumer Goods & Retail, Education, Media and Entertainment, Manufacturing), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/data-protection-market

Data protection protects sensitive information from illegal access, destruction, loss, or corruption using "data retention tools". Every industry, including government, semi-government, commercial, and banking, has to protect client information or data. These firms create data that is crucial for security. This massive volume of data needs methods for monitoring, regulating, and safeguarding it. This is expected to have a positive effect on market growth. Worries about cyber-security, data loss prevention, malware, and ransomware protection are expected to fuel market expansion. Increased government and organizational expenditure on security solutions, together with increased worries about data breaches, are expected to drive market expansion in the future. The global market for data protection is expanding fast because of the rising volume and value of digital data, as well as the ever-changing threat landscape. As enterprises, governments, and people generate more data worldwide, it is critical to protect sensitive information from cyberattacks, data breaches, and regulatory compliance. The usage of cloud computing, mobile devices, and IoT technologies has compounded data security challenges, necessitating the development of unique data protection systems capable of dealing with a wide range of scenarios. However, data protection has qualities such as high cost, complexity, and limited processing. Adopting or increasing the usage of data protection technologies can be challenging if they are too costly and complex to meet the necessary criteria. They may consequently postpone or opt not to invest in data protection, affecting market development.

The solutions segment is projected to hold the biggest share of the global data protection market during the forecast period.    

Based on the components, the global data protection market is categorized into solutions and services. Among these, the solutions segment is expected to hold the largest share of the data protection market during the forecast period. The solution sector leads the worldwide data protection market as a result of increased cybersecurity threats, demanding regulatory requirements, and the need to protect data across a range of applications including on-premises, cloud, and hybrid infrastructures. This area has opportunities for data encryption, access control, data loss prevention (DLP), identity and access management (IAM), and backup and recovery solutions. Done

The cloud segment stands to hold the biggest share of the global data protection market during the anticipated period.   

Based on the deployment mode, the global data protection market is categorized into Cloud and on-premises. Among these, the cloud segment is expected to hold the largest share of the data protection market during the forecast period. Cloud-based services are increasing in popularity across sectors due to their scalability, flexibility, and cost-effectiveness, leading to increased demand for cloud deployment. Cloud solutions provide for centralized management, automatic backups, and disaster recovery. The ubiquity of remote work increases adoption, enabling secure data access from anywhere.

The healthcare segment dominates the global data protection market during the forecast period.   

Based on the industry vertical, the global data protection market is divided into government and defense, banking, financial services and insurance (BFSI), healthcare, it and telecom, consumer goods and retail, education, media and entertainment, and manufacturing. Among these, the healthcare segment is expected to hold the largest share of the data protection market during the forecast period. The healthcare business holds a significant share of the market because it handles highly sensitive patient data and quickly digitizes services such as electronic health records (EHRs) and telemedicine. The increased volume of data has necessitated the development of data protection solutions, resulting in large expenses. The increased cyber dangers in this business highlight the critical need for robust data protection techniques.

North America dominates the market with the largest market share over the forecast period.

North America is expected to have the greatest share of the global data protection market during the forecast period. In the data protection market size (DPaaS) market, the United States leads North America. It is the world's largest economy and is known for its rapid adoption of new technologies. The country's DPaaS industry continues to grow as business processes become more digital and enterprises want improved data security services. These factors guarantee the company's operations run smoothly and safely. The Asia Pacific (APAC) area has the fastest-growing data protection market size (DPaaS). Cybercrime in the area has been on the rise as a result of the increased number of connected devices, digitalization of important services, investments in the ICT industry, business process automation, and other related trends. As a result, the region has become a new target for hackers, with small and medium-sized businesses (SMEs) being particularly at risk of data breaches and security concerns.

Major vendors in the global data protection market are Symantec Corporation, McAfee, LLC, Trend Micro Incorporated, Palo Alto Networks Inc., Fortinet Inc., Sophos Group plc, IBM Corporation, Cisco Systems Inc., Check Point Software Technologies Ltd, FireEye Inc, Proofpoint Inc, and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global data protection market based on the below-mentioned segments: 

Global Data Protection Market Size, By Components

• Solutions
• Services

Global Data Protection Market Size, By Deployment Mode

• Cloud
• On-premises

Global Data Protection Market Size, By Organization Size

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises  

Global Data Protection Market Size, By Industry Vertical

• Government and Defense
• Banking
• Financial Services and Insurance (BFSI)
• Healthcare
• IT and Telecom
• Consumer Goods and Retail
• Education
• Media and Entertainment
• Manufacturing

Global Data Protection Market Size, By Region

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• Uk
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Rest of Asia Pacific
• South America
• Brazil
• Argentina
• Rest of South America
• Middle East & Africa
• UAE
• Saudi Arabia
• Qatar
• South Africa
• Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

CONTACT US:

For More Information on Your Target Market, Please Contact Us Below:    

Phone: +1 303 800 4326 (the U.S.)

Phone: +91 90289 24100 (APAC)

Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com

Contact Us: https://www.sphericalinsights.com/contact-us

Follow Us: LinkedIn | Facebook | Twitter