Overview and Scope:
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.
Sizing and Forecast
The sensitive data discovery market size has grown exponentially in recent years. It will grow from $7.48 billion in 2023 to $9.07 billion in 2024 at a compound annual growth rate (CAGR) of 21.2%. The growth in the historic period can be attributed to data breach incident, consumer privacy concerns, environmental changes, increased data volumes, third-party risks..
The sensitive data discovery market size is expected to see rapid growth in the next few years. It will grow to $17.63 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%. The growth in the forecast period can be attributed to continued data regulation evolution, heightened cybersecurity threats, cloud adoption trajectory, remote and hybrid workforce dynamics, iot and edge computing expansion.. Major trends in the forecast period include strategic collaborations, product innovations, advanced solutions, iot integration.
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The 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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the sensitive data discovery market report are 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.
The sensitive data discovery market report table of contents includes:
1. Executive Summary
2. Sensitive Data Discovery Market Characteristics
3. Sensitive Data Discovery Market Trends And Strategies
4. Sensitive Data Discovery Market – Macro Economic Scenario
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31. Global Sensitive Data Discovery Market Competitive Benchmarking
32. Global Sensitive Data Discovery Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Sensitive Data Discovery Market
34. Sensitive Data Discovery Market Future Outlook and Potential Analysis
