Global Sensitive Data Discovery market analysis 2024, Forecast To 2033
4 Mar, 2024
The sensitive data discovery market size has witnessed exponential growth, escalating from$7.48 billion in 2023 to$9.07 billion in 2024 at a compound annual growth rate (CAGR) of 21.2%. The historic surge is attributed to data breach incidents, consumer privacy concerns, environmental changes, increased data volumes, and third-party risks. Looking ahead, the market is anticipated to experience rapid growth in the next few years, reaching$17.63 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%. Projected growth in the forecast period is attributed to continued evolution in data regulation, heightened cybersecurity threats, trajectory of cloud adoption, dynamics of remote and hybrid workforce, and expansion of IoT and edge computing. Major trends expected include strategic collaborations, product innovations, advanced solutions, and IoT integration.
Global Sensitive Data Discovery Market Key Driver
The growing investment in data privacy and security is propelling the growth of the sensitive data discovery market going forward. Data privacy is an aspect of data protection that addresses the proper storage, retention, immutability, access, and security of sensitive data. The sensitive data discovery protects data from malicious threats and helps in maintaining an effective data privacy and security plan. For instance, according to a report published in May 2021 by Gartner, a US-based management consulting firm, spending on data security increased to 3.5 billion in 2021, rising at a growth rate of 17.5%. Therefore, the growing investment in data privacy and security will continue to drive the sensitive data discovery market. The sensitive data discovery market is anticipated to reach $XX billion by 2023, with further expansion expected through 2024 and 2028.
Get A Free Sample Of The Global Sensitive Data Discovery Market ReportGlobal Sensitive Data Discovery Market Segments
The global sensitive data discovery market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment : On Premises, Cloud
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Application: Security And Risk Management, Asset Management, Compliance Management, Other Applications
5) By End-Use: BFSI, Government, Healthcare And Life Sciences, Retail, Manufacturing, Telecommunications And IT, Other End Use
By Geography: The regions covered in the sensitive data discovery market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the sensitive data discovery market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sensitive data discovery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Sensitive Data Discovery Industry Players
IBM Corporation, Microsoft Corporation, Oracle Corporation, Amazon Web Services Inc., Google LLC, Hitachi Ltd., SolarWinds Corporation, Thales Group S.A., Micro Focus International PLC, Proofpoint Inc., Netwrix Corporation, Varonis Systems Inc., Digital Guardian, Solix Technologies Inc., Immuta Inc., 1touch.io Inc., Nightfall AI Inc., DataSunrise Inc., DataGrail Inc., Dathena Inc., BigID Inc., Informatica Corporation, Spirion Corporation, PKWARE Inc., OneTrust, Securiti Inc., Egnyte Inc., BetterCloud Inc., Safetica Inc., MineOS Inc.
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Sensitive Data Discovery Market Overview
Sensitive data discovery is the process of locating specific subsets of data from unstructured and structured data sources, which ensures the privacy of organizations’ employees and customers as well as prevents data breaches and leaks. The sensitive data discovery identifies, protects, or securely removes any compromising information.
Sensitive Data Discovery Global Market Report 2023 provides data on the global sensitive data discovery market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The sensitive data discovery market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.