The Europe Data Loss Prevention Market would witness market growth of 21.1% CAGR during the forecast period (2023-2030).
Organizations opt for data loss prevention by implementing data classification, which allows them to apply targeted protection measures to distinct data categories based on sensitivity. Large and medium-sized businesses are instituting suitable safety measures with a well-defined classification framework, such as access controls, encryption, and data loss prevention policies tailored to each data classification level.
It guarantees that the most sensitive data obtains the highest level of protection, thereby decreasing the risk of unauthorized access or data loss. With the proliferation of digital data and the utilization of emerging technologies like AI, automation, the Internet of Things (IoT), large amounts of data, and cloud computing, the volume and complexity of data continue to increase. This complexity presents opportunities for DLP solutions to explore, classify, and monitor private information across diverse data sources and platforms. Implementing and maintaining effective DLP solutions is a costly endeavor that requires licenses for software, hardware infrastructure, routine maintenance, and specialized personnel.
Small and medium-sized enterprises with limited resources are investing in and sustaining extensive DLP programs. As data becomes more dispersed across on-premises systems, cloud services, and mobile devices, it becomes increasingly difficult to monitor and defend it.
According to the International Trade Administration, Germany has Europe's third-largest aerospace & defense sector, with 2020 revenues at USD 35.4 billion, following the UK at GBP 79 or USD 90.2 billion (including land defense systems) and France at EUR 50.9 billion or USD 58.1 billion. Some three-quarters or USD 26.2 billion of German production is exported. France received a fourth of these exports with USD 6.7 billion. Germany and France's aerospace and defense sectors significantly shape their respective economies and security landscapes. The need to protect sensitive information, intellectual property, and classified data drives the demand for advanced DLP solutions.
According to the Department of Business & Trade, the UK retail sector has proven resilient, with sales reaching £403 billion in 2020. Retailers process a significant volume of payment card data. DLP solutions are crucial for securing this data and ensuring compliance with PCI DSS. The growth of the retail sector in the UK, coupled with the need to protect sensitive data and ensure regulatory compliance, can drive the demand for DLP solutions. As retailers increasingly recognize the importance of data security and privacy, the data loss prevention demand will likely expand to meet their evolving security needs. The aforementioned aspects will boost the market in the coming years.
The Germany market dominated the Europe Data Loss Prevention Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $952.1 million by 2030. The UK market is showcasing a CAGR of 20% during (2023 - 2030). Additionally, The France market would register a CAGR of 22% during (2023 - 2030).
Based on Offering, the market is segmented into Solution (Storage DLP, Network DLP, Endpoint DLP, and Cloud DLP) and Services (System Integration & Installation, Consulting, Education & Training, Managed Services, and Others). Based on Application, the market is segmented into Encryption, Centralized Management, Policy, Standards and Procedures, Web, & Email Protection, Cloud Storage, Incident Response & Workflow Management and Others. Based on Vertical, the market is segmented into BFSI, Government, Healthcare, Manufacturing, IT & Telecommunication, Retail & Logistics, Aerospace, Defense & Intelligence and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Data Loss Prevention Market will Hit $14.2 Billion by 2030, at a CAGR of 21.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Broadcom, Inc., IBM Corporation, Microsoft Corporation, Trend Micro, Inc., McAfee Corp, Palo Alto Networks, Inc., GTB Technologies, Inc., Infowatch, Fortra, LLC (HGGC), and Cisco Systems, Inc.
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