Data Classification Market Opportunities, Manufacture Size, Developments and Future Forecasts To 2025
JAN 04 2021: The global Data Classification market size is expected to reach USD 2.44 billion by 2025, expanding at a CAGR of 25.7% over the forecast period, according to a new report by Grand View Research, Inc. Increasing stringency on regulatory compliance, generation of large data volume, and the introduction of big data and machine learning technology are some of the major growth drivers for the market. Moreover, the data-driven decision-making for sales, rising product launch, and increasing number of enterprises are some of the factors providing impetus to the growth.
Data classification offered as a standalone and
integrated solution is changing the way the information is generated, stored,
and processed. The homogeneously tagged information with industry defined
classification is vital in generating actionable insights. Hence, enterprises
are inclined to opt for integrated data security platform for data
classification as well as protection. Moreover, repercussion of non-compliance
can lead to huge financial and reputational losses. Hence, the adoption of data
classification solution is vital to address the data security concerns of the
organizations as it classifies the information based on the nature of content.
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Data classification solution is anticipated to witness
high adoption across major developed countries such as U.S., Canada, Germany,
and Japan. The developed countries emphasize on adopting emerging technologies
and automation solution to reduce error and to improve production. Vendors in
the data classification market offer product upgrades and adopting expansion
strategies to strengthen their foothold in the market. This is anticipated to
intensity the competition among existing and emerging market players in near
future.
Further
key findings from the report suggest:
• The content-based classification type segment
accounted for over 34% of the revenue share in 2018
• Revenue from telecom and IT segment is expected
to reach approximately USD 488.5 million by 2025, attributed to the need for
protecting large volume of confidential customer information as per data
privacy laws
• Web, mobile and email protection application
segment is estimated to expand at a CAGR of over 26% from 2019 to 2025, driven
by the demand for classifying vulnerable enterprise information created and
shared over digital medium
• North America is expected to dominate the global
market by 2025 owing to the expansion of BFSI, telecom and IT, and healthcare
industries that are bound by regulations and thus need precise classification
of the generated information
• Some of the major data classification market
players are IBM; Google; Amazon Web Services, Inc.; and Microsoft Corporation.
These vendors lead the market with their integrated data security platform,
upgraded solution, reliable services, and worldwide presence
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Table
of Contents
Chapter
1. Methodology and Scope
1.1. Market segmentation & scope
1.2. Market definition
1.3. Information procurement
1.3.1. Purchased database
1.3.2. GVR's internal database
1.3.3. Secondary sources & third-party
perspectives
1.3.4. Primary research
1.4. Information analysis
1.5. Market formulation & data visualization
1.6. Data validation & publishing
Chapter
2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
Chapter
3. Data Classification Market Variables, Trends & Scope
3.1. Market Lineage outlook
3.1.1. Parent market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.5. Data Classification Market Analysis Tools
3.5.1. Industry Analysis - Porter's
3.5.2. PESTEL Analysis
3.6. Data Classification Market - Competitive
Insights
3.6.1. Key Company Analysis, 2018
3.6.2. Major Deals & Strategic Alliances
Analysis
Continued……………..
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