The Data Classification Marketis Predict to reach USD 12.0 Billion by 2031, at a CAGR of 34.3%

Data Classification Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Data Classification Market size is expected to reach $12 billion by 2031, rising at a market growth of 34.3% CAGR during the forecast period.

The Solution segment is generating the highest revenue in the Global Data Classification Market by Component in 2023; thereby, achieving a market value of $7.7 billion by 2031. Solutions that classify data help organizations secure sensitive and confidential information by ensuring it is properly categorized and protected according to its classification level.

The GRC segment is registering a CAGR of 33.4 % during the forecast period. GRC solutions provide tools for identifying and assessing data classification and handling risks. This proactive approach helps organizations anticipate and mitigate potential risks before they escalate. By integrating risk management with data classification processes, GRC solutions ensure that data is classified and protected based on risk levels, improving overall data security and resilience.

The User-Based Classification segment led the Global Data Classification Market by Classification in 2023; thereby, achieving a market value of $4.9 billion by 2031. User-based classification allows for categorizing data based on individual user roles, responsibilities, and access levels. This ensures that data is classified and managed to align with specific user needs and organizational requirements.

The BFSI segment is growing at a CAGR of 32.8 % during the forecast period. The BFSI sector handles highly sensitive and confidential data, including personal identification information (PII), financial records, transaction details, and proprietary business information. Data classification is crucial for identifying and protecting this sensitive data.

Full Report: https://www.kbvresearch.com/data-classification-market/

The North America region dominated the Global Data Classification Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3.9 billion by 2031. The Europe region is anticipated to grow at a CAGR of 33.9% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 35% during (2024 - 2031).

List of Key Companies Profiled

• IBM Corporation
• Amazon Web Services, Inc. (Amazon.com, Inc.)
• Google LLC (Alphabet Inc.)
• Microsoft Corporation
• Fortra, LLC (HGGC)
• Open Text Corporation
• Forcepoint LLC (Francisco Partners)
• Netwrix Corporation
• Spirion, LLC
• Varonis Systems, Inc.

Data Classification Market Report Segmentation

By Component

• Solution
• Services

By Application

• GRC
• Centralized Management
• Web, Mobile & Email Protection
• Access Control

By Classification

• User-Based Classification
• Content-Based Classification
• Context-Based Classification

By Vertical

• BFSI
• Defense & Government
• Healthcare & Life Sciences
• Telecom
• Education
• Media & Entertainment
• Other Vertical

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Data Classification Market Size 2031

• September-2024
• 119 Pages

LAMEA Data Classification Market Size, Share 2031

• September-2024
• 131 Pages

Europe Data Classification Market Size & Forecast | 2031

• September-2024
• 130 Pages

Asia Pacific Data Classification Market Size, Share 2031

• September-2024
• 131 Pages