Data Loss Prevention Market Set to Surpass USD 13 Billion by 2030

NEW YORK - Nov. 21, 2024 - PRLog -- The data loss prevention (DLP) market is anticipated to reach a value of USD 4,086.3 million in 2024. It is further projected to expand at a robust compound annual growth rate (CAGR) of 21.3%, achieving USD 13,031.0 million by 2030. This growth can be attributed to the rising prevalence of cyber-attacks, the widespread adoption of cloud computing across various industries, and the growing reliance on the internet by governments, businesses, and individuals.

Small and medium-sized enterprises (SMEs) are expected to record the highest CAGR of 21.5% during the forecast period. This surge is due to their increasing dependency on data for maintaining competitiveness and driving growth in the digital age. Critical assets such as customer information, financial data, intellectual property, and operational data make it essential for SMEs to implement robust DLP measures, ensuring the security of their enterprise and client data.

Among industries, the banking, financial services, and insurance (BFSI) sector holds the largest share in the DLP market. Reports indicate that financial institutions have accounted for 27.7% of all cyber-attacks in recent years. Email and web-based attacks, particularly phishing schemes, are common methods used by hackers to gain unauthorized access to sensitive information. Exploiting vulnerabilities, such as inactive accounts, hackers can infiltrate networks, steal data, and escalate their privileges for deeper access.

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Government agencies also represent a significant segment of the DLP market due to the persistent risk of data breaches. Hackers often deceive government employees into granting access to sensitive information, while accidental errors by employees can also result in unauthorized disclosures.

Geographically, North America leads the DLP market, generating the highest revenue in recent years and maintaining a projected CAGR of 21.0% through 2030. This dominance is driven by the widespread adoption of big data and cloud technologies, alongside stricter data privacy regulations and increasing awareness of cybersecurity risks.