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PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1530714

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PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1530714

Data Protection Market Forecasts to 2030 - Global Analysis By Component (Solution, Service and Other Components), Deployment Mode (Cloud and On-premises), Organization Size, End User and by Geography

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According to Stratistics MRC, the Global Data Protection Market is accounted for $167.02 billion in 2024 and is expected to reach $450.88 billion by 2030 growing at a CAGR of 18.0% during the forecast period. The laws, regulations, and practices that are intended to prevent misuse, unauthorized access, and breaches of personal information are collectively referred to as data protection laws. It includes a broad range of procedures, such as data encryption, frequent security audits, and the formulation of precise protocols for data handling and storage. Strong data protection measures are crucial since the amount of data generated and shared has skyrocketed with the advent of digital technologies.

According to the International Association of Privacy Professionals (IAPP), robust data protection practices are essential for maintaining consumer trust and ensuring compliance with global privacy regulations.

Market Dynamics:

Driver:

Adoption of cloud computing

Comprehensive data protection measures are becoming more and more necessary as more businesses move to cloud-based services and realize how important it is to protect the security and privacy of data stored there. Many advantages come with cloud computing, such as scalability, flexibility, and cost savings. But it also brings with it new security risks, like losing control over data, data breaches, and compliance problems. Furthermore, organizations are implementing cloud-specific data protection solutions, like encryption, access controls, and cloud security monitoring tools, to address these issues.

Restraint:

Exorbitant implementation expenses

Strong data protection measures can be unaffordable to implement, particularly for small and medium-sized businesses (SMEs). These expenses cover the purchase of sophisticated encryption software, all-inclusive data protection software, safe storage options, as well as regular maintenance and updates. The cost is additionally increased by employing knowledgeable cybersecurity specialists to maintain and track these systems. Additionally, the high costs of data protection can be a major deterrent for many organizations, especially those with tight budgets, and may force them to reduce the amount of protection they can afford.

Opportunity:

Increasing need for data privacy remedies

Robust data privacy solutions are in greater demand as businesses and consumers become more aware of data privacy issues. In order to protect their sensitive data and guarantee compliance with data protection regulations, organizations are looking for all-inclusive tools and services. Businesses that provide cutting-edge encryption technologies, data masking, and anonymization tools stand to gain a great deal from this demand. Furthermore, companies are finding more and more value in privacy management software, which assists them in monitoring, controlling, and reporting on their data privacy policies.

Threat:

Lack of experienced experts

There is a severe talent shortage in the cybersecurity sector, with a far greater need than supply of qualified workers. The market for data protection is seriously threatened by this shortage since it makes it difficult for businesses to hire and retain the right people to oversee and improve their security protocols. Insufficient cybersecurity expertise can result in insufficient defense, heightened susceptibility to intrusions, and difficulties in integrating cutting-edge security technologies. Moreover, companies need to make resource-intensive investments in creative recruitment techniques, competitive compensation packages, and training and development programs in order to address this problem.

Covid-19 Impact:

The COVID-19 pandemic has had a major effect on the data protection industry. It has accelerated the use of digital technologies and remote work, which has increased the demand for strong data protection protocols. Demand for secure remote access solutions, endpoint security, and cloud-based data protection services increased as businesses quickly made the shift to remote work environments and encountered new cybersecurity and data privacy issues. Furthermore, the rise in cyberattacks that target weak systems and remote workers highlighted the significance of all-encompassing data protection strategies.

The Cloud segment is expected to be the largest during the forecast period

The cloud segment is expected to hold the largest share in the data protection market. The greater adaptability, scalability, and affordability that cloud solutions provide are major factors in this. Organizations can scale their resources dynamically in response to demand and only pay for what they use, owing to cloud-based data protection. This is especially helpful for companies whose data requirements change frequently, like e-commerce sites during the busiest shopping seasons. Moreover, the cloud enables improved data accessibility from multiple locations and faster disaster recovery, both of which are critical in remote work scenarios.

The Small and Medium-sized Enterprises (SMEs) segment is expected to have the highest CAGR during the forecast period

The SME (small and medium-sized enterprises) segment in the data protection market has the highest CAGR. SMEs are spending more money on data protection solutions to protect their private data from hackers and problems with regulatory compliance. Smaller businesses growing awareness of cybersecurity risks and their increasing use of cloud-based data protection services catered to their needs are the main drivers of this growth. Additionally, SMEs are prioritizing data protection investments to ensure both operational security and regulatory compliance as laws like the CCPA and GDPR become more stringent.

Region with largest share:

It is projected that the European region will dominate the data protection market. European nations have been leading the way in enforcing strict data privacy laws since the General Data Protection Regulation (GDPR) went into effect in 2018. This has accelerated the adoption of cutting-edge data protection solutions. Data encryption, identity and access management (IAM), and other cybersecurity measures are in high demand due to the region's emphasis on safeguarding consumer privacy rights and businesses proactive compliance with these regulations. Furthermore, Europe continues to be a key market for data protection services and technologies, demonstrating its steadfast dedication to securing digital data in the face of changing regulatory environments.

Region with highest CAGR:

In the data protection market, Asia-Pacific (APAC) has the highest CAGR. Rapid digital transformation, rising internet penetration, and expanding cloud service adoption across a range of industries are all occurring in the region. Strong data protection solutions are in high demand in APAC due to factors like growing cyber threats, strict data protection laws, and growing enterprise awareness of the value of protecting sensitive data. Moreover, government programs to improve cybersecurity frameworks in nations like China, India, and Japan are also driving market expansion.

Key players in the market

Some of the key players in Data Protection market include Microsoft Azure, Broadcom, Palo Alto Networks, Inc., Google Cloud Platform, McAfee, LLC, IBM Corporation, Oracle, Symantec Corporation, CA Technologies, FireEye, Inc., Trend Micro Incorporated, Informatica, Amazon Web Services (AWS), Fortinet, Inc. and Cisco Systems, Inc.

Key Developments:

In June 2024, IBM and Telefonica Tech announced a new collaboration agreement to drive the deployment of Artificial Intelligence (AI), analytics and data governance solutions and respond to the constant and dynamically evolving needs of enterprises.

In May 2024, Palo Alto Networks agreed to acquire IBM's QRadar software as a service assets and intellectual property rights, as part of a broad partnership between the two companies to provide AI-backed cybersecurity to the enterprise market.

In February 2024, Broadcom Inc. and Google Cloud announced plans to support license portability of VMware Cloud Foundation to Google Cloud VMware Engine. Customers will be able to purchase subscriptions of the new VMware Cloud Foundation software from Broadcom and flexibly use those subscriptions in Google Cloud VMware Engine, as well as their own on-prem data centers.

Components Covered:

  • Solution
  • Service
  • Other Components

Deployment Modes Covered:

  • Cloud
  • On-premises

Organization Sizes Covered:

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

End Users Covered:

  • Government and Defense
  • Banking, Financial Services, and Insurance (BFSI)
  • Healthcare
  • IT and Telecom
  • Consumer Goods and Retail
  • Education
  • Media and Entertainment
  • Manufacturing
  • Hospitality
  • Transport and Logistics
  • Energy and Utilities
  • Other End Users

Regions Covered:

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

What our report offers:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
  • Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

  • Company Profiling
    • Comprehensive profiling of additional market players (up to 3)
    • SWOT Analysis of key players (up to 3)
  • Regional Segmentation
    • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
  • Competitive Benchmarking
    • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Product Code: SMRC26826

Table of Contents

1 Executive Summary

2 Preface

  • 2.1 Abstract
  • 2.2 Stake Holders
  • 2.3 Research Scope
  • 2.4 Research Methodology
    • 2.4.1 Data Mining
    • 2.4.2 Data Analysis
    • 2.4.3 Data Validation
    • 2.4.4 Research Approach
  • 2.5 Research Sources
    • 2.5.1 Primary Research Sources
    • 2.5.2 Secondary Research Sources
    • 2.5.3 Assumptions

3 Market Trend Analysis

  • 3.1 Introduction
  • 3.2 Drivers
  • 3.3 Restraints
  • 3.4 Opportunities
  • 3.5 Threats
  • 3.6 End User Analysis
  • 3.7 Emerging Markets
  • 3.8 Impact of Covid-19

4 Porters Five Force Analysis

  • 4.1 Bargaining power of suppliers
  • 4.2 Bargaining power of buyers
  • 4.3 Threat of substitutes
  • 4.4 Threat of new entrants
  • 4.5 Competitive rivalry

5 Global Data Protection Market, By Component

  • 5.1 Introduction
  • 5.2 Solution
    • 5.2.1 Data Backup and Recovery
    • 5.2.2 Data Archiving and eDiscovery
    • 5.2.3 Disaster Recovery
    • 5.2.4 Encryption
    • 5.2.5 Tokenization
    • 5.2.6 Data Loss Prevention (DLP)
    • 5.2.7 Identity and Access Management (IAM)
    • 5.2.8 Compliance Management
  • 5.3 Service
    • 5.3.1 Professional Services
    • 5.3.2 Risk Assessment and Consulting Services
    • 5.3.3 Implementation and Integration Services
    • 5.3.4 Support and Maintenance Services
    • 5.3.5 Training and Education Services
    • 5.3.6 Managed Services
  • 5.4 Other Components

6 Global Data Protection Market, By Deployment Mode

  • 6.1 Introduction
  • 6.2 Cloud
  • 6.3 On-premises

7 Global Data Protection Market, By Organization Size

  • 7.1 Introduction
  • 7.2 Small and Medium-sized Enterprises (SMEs)
  • 7.3 Large Enterprises

8 Global Data Protection Market, By End User

  • 8.1 Introduction
  • 8.2 Government and Defense
  • 8.3 Banking, Financial Services, and Insurance (BFSI)
  • 8.4 Healthcare
  • 8.5 IT and Telecom
  • 8.6 Consumer Goods and Retail
  • 8.7 Education
  • 8.8 Media and Entertainment
  • 8.9 Manufacturing
  • 8.10 Hospitality
  • 8.11 Transport and Logistics
  • 8.12 Energy and Utilities
  • 8.13 Other End Users

9 Global Data Protection Market, By Geography

  • 9.1 Introduction
  • 9.2 North America
    • 9.2.1 US
    • 9.2.2 Canada
    • 9.2.3 Mexico
  • 9.3 Europe
    • 9.3.1 Germany
    • 9.3.2 UK
    • 9.3.3 Italy
    • 9.3.4 France
    • 9.3.5 Spain
    • 9.3.6 Rest of Europe
  • 9.4 Asia Pacific
    • 9.4.1 Japan
    • 9.4.2 China
    • 9.4.3 India
    • 9.4.4 Australia
    • 9.4.5 New Zealand
    • 9.4.6 South Korea
    • 9.4.7 Rest of Asia Pacific
  • 9.5 South America
    • 9.5.1 Argentina
    • 9.5.2 Brazil
    • 9.5.3 Chile
    • 9.5.4 Rest of South America
  • 9.6 Middle East & Africa
    • 9.6.1 Saudi Arabia
    • 9.6.2 UAE
    • 9.6.3 Qatar
    • 9.6.4 South Africa
    • 9.6.5 Rest of Middle East & Africa

10 Key Developments

  • 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
  • 10.2 Acquisitions & Mergers
  • 10.3 New Product Launch
  • 10.4 Expansions
  • 10.5 Other Key Strategies

11 Company Profiling

  • 11.1 Microsoft Azure
  • 11.2 Broadcom
  • 11.3 Palo Alto Networks, Inc.
  • 11.4 Google Cloud Platform
  • 11.5 McAfee, LLC
  • 11.6 IBM Corporation
  • 11.7 Oracle
  • 11.8 Symantec Corporation
  • 11.9 CA Technologies
  • 11.10 FireEye, Inc.
  • 11.11 Trend Micro Incorporated
  • 11.12 Informatica
  • 11.13 Amazon Web Services (AWS)
  • 11.14 Fortinet, Inc.
  • 11.15 Cisco Systems, Inc.
Product Code: SMRC26826

List of Tables

  • Table 1 Global Data Protection Market Outlook, By Region (2022-2030) ($MN)
  • Table 2 Global Data Protection Market Outlook, By Component (2022-2030) ($MN)
  • Table 3 Global Data Protection Market Outlook, By Solution (2022-2030) ($MN)
  • Table 4 Global Data Protection Market Outlook, By Data Backup and Recovery (2022-2030) ($MN)
  • Table 5 Global Data Protection Market Outlook, By Data Archiving and eDiscovery (2022-2030) ($MN)
  • Table 6 Global Data Protection Market Outlook, By Disaster Recovery (2022-2030) ($MN)
  • Table 7 Global Data Protection Market Outlook, By Encryption (2022-2030) ($MN)
  • Table 8 Global Data Protection Market Outlook, By Tokenization (2022-2030) ($MN)
  • Table 9 Global Data Protection Market Outlook, By Data Loss Prevention (DLP) (2022-2030) ($MN)
  • Table 10 Global Data Protection Market Outlook, By Identity and Access Management (IAM) (2022-2030) ($MN)
  • Table 11 Global Data Protection Market Outlook, By Compliance Management (2022-2030) ($MN)
  • Table 12 Global Data Protection Market Outlook, By Service (2022-2030) ($MN)
  • Table 13 Global Data Protection Market Outlook, By Professional Services (2022-2030) ($MN)
  • Table 14 Global Data Protection Market Outlook, By Risk Assessment and Consulting Services (2022-2030) ($MN)
  • Table 15 Global Data Protection Market Outlook, By Implementation and Integration Services (2022-2030) ($MN)
  • Table 16 Global Data Protection Market Outlook, By Support and Maintenance Services (2022-2030) ($MN)
  • Table 17 Global Data Protection Market Outlook, By Training and Education Services (2022-2030) ($MN)
  • Table 18 Global Data Protection Market Outlook, By Managed Services (2022-2030) ($MN)
  • Table 19 Global Data Protection Market Outlook, By Other Components (2022-2030) ($MN)
  • Table 20 Global Data Protection Market Outlook, By Deployment Mode (2022-2030) ($MN)
  • Table 21 Global Data Protection Market Outlook, By Cloud (2022-2030) ($MN)
  • Table 22 Global Data Protection Market Outlook, By On-premises (2022-2030) ($MN)
  • Table 23 Global Data Protection Market Outlook, By Organization Size (2022-2030) ($MN)
  • Table 24 Global Data Protection Market Outlook, By Small and Medium-sized Enterprises (SMEs) (2022-2030) ($MN)
  • Table 25 Global Data Protection Market Outlook, By Large Enterprises (2022-2030) ($MN)
  • Table 26 Global Data Protection Market Outlook, By End User (2022-2030) ($MN)
  • Table 27 Global Data Protection Market Outlook, By Government and Defense (2022-2030) ($MN)
  • Table 28 Global Data Protection Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2022-2030) ($MN)
  • Table 29 Global Data Protection Market Outlook, By Healthcare (2022-2030) ($MN)
  • Table 30 Global Data Protection Market Outlook, By IT and Telecom (2022-2030) ($MN)
  • Table 31 Global Data Protection Market Outlook, By Consumer Goods and Retail (2022-2030) ($MN)
  • Table 32 Global Data Protection Market Outlook, By Education (2022-2030) ($MN)
  • Table 33 Global Data Protection Market Outlook, By Media and Entertainment (2022-2030) ($MN)
  • Table 34 Global Data Protection Market Outlook, By Manufacturing (2022-2030) ($MN)
  • Table 35 Global Data Protection Market Outlook, By Hospitality (2022-2030) ($MN)
  • Table 36 Global Data Protection Market Outlook, By Transport and Logistics (2022-2030) ($MN)
  • Table 37 Global Data Protection Market Outlook, By Energy and Utilities (2022-2030) ($MN)
  • Table 38 Global Data Protection Market Outlook, By Other End Users (2022-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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Manager - EMEA

+32-2-535-7543

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Christine Sirois

Manager - Americas

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