New York, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Cloud DLP Market Size, Share & Industry Trends Analysis Report By Organization Size, By Vertical, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06352714/?utm_source=GNW
Cloud DLP solutions protect businesses that have embraced cloud storage specifically by preventing sensitive data from accessing the cloud before even being encrypted. Data can then be exchanged with authorized cloud apps after encryption. The majority of these solutions modifies or erases sensitive data before sharing it on the cloud to ensure data security throughout data transfer and cloud storage.
The expansion of the market is being fueled by regulatory, compliance, and enforcement requirements, as well as a rapid increase in cloud use. Moreover, increased employee mobility and the BYOD culture are driving the expansion of the cloud DLP market. During the forecast period, expanding data sprawl is anticipated to give several chances for market advancement.
The fast-rising occurrences of data breaches and other variables, like DLP-as-a-service, DLP capabilities that extend into the cloud, and improved threat prevention, have boosted the worldwide emphasis on data loss protection solutions dramatically. As the requirement for digital assets has expanded, the volume of organized and unstructured data has grown exponentially, necessitating data security services with a specific focus on data-centric companies.
COVID-19 Impact Analysis
During the COVID-19 pandemic, the Cloud DLP market had a significant increase in new investments due to the rising use of cloud due to its great optimization capabilities that enable organizations to provide efficient and effective performance. In addition, rising employee mobility and BYOD during the COVID epidemic are significant concerns for the adoption of cloud-based DLP systems. During the COVID-19 pandemic, the danger of data loss increased, introducing a new degree of complexity to regulatory compliance, data loss protection (DLP), and governance.
Market Growth Factors
Compliance with Regulations and Enforcement
Cloud compliance refers to the legislation and policies established to safeguard individuals and businesses from the consequences of data loss. Compliance is propelling the cloud DLP market since it offers solutions centred on the type of data gathered and held by an organization and the regulatory frameworks governing data security. Compliance solutions and cloud services that assist businesses with compliance have become increasingly accessible, boosting new markets.
Increasing Popularity of Cloud Computing Among Companies
The cloud DLP market is being driven by the fast adoption of cloud computing, with cloud-specific investment. In addition, Cloud service providers provide robust native optimization tools to assist businesses in selecting the most cost-effective architecture capable of delivering the desired performance. Many companies across different industries are becoming more aware of the benefits of cloud computing technology and hence, are investing heavily in the adoption of advanced solutions for better business operations.
Market Restraining Factors
Restricted Control and Features Along With Bandwidth Problem
When a business sends all of its data to the cloud, it loses track over that data, and it becomes difficult for the IT department to have complete visibility and control over it. To reduce expenses, businesses opt for cloud services with restricted functionality. If businesses do not select for customization according to their needs, cloud services would be difficult to administer and their security may be jeopardized. Even if the number of servers is decreased, businesses would still want backup and recovery. When transferring data to the cloud, organizations cannot eliminate all servers and personnel.
Component Outlook
On the basis of component, the cloud DLP market is bifurcated into Solution and Service. The service segment acquired a significant revenue share in the cloud DLP market in 2021. This is due to the increased use of cloud-based solutions by businesses in order to remain competitive and productive. In addition, there are many companies which are providing data protection services to their clients to make their process hassle-free.
Organization Size Outlook
Based of enterprise size, the cloud DLP market is segmented into Large enterprises and SMEs. The large enterprises segment garnered the maximum revenue share in the cloud DLP market in 2021. Large companies have been operating in a highly saturated market where they have little opportunities for expansion. Since these companies are of a greater scale and have diverse IT infrastructures, the importance of cloud DLP increases for the protection of organizational data.
Vertical Outlook
By industry vertical, the cloud DLP market is classified into BFSI, IT & Telecommunication, Energy & Utilities, Government & Public Sector, Healthcare & Life Sciences, Retail & Consumer Goods, Manufacturing and Others. The BFSI segment acquired the highest revenue share in the cloud DLP market in 2021. In the BFSI sector, cloud data loss prevention serves a crucial role by preventing the loss or disclosure of critical data. This maintains the protection of both personal and financial data and prevents any cybersecurity risks, like identity theft, ransomware attacks, etc.
Regional Outlook
Region-wise, the cloud DLP market is analyzed across North America, Europe, Asia Pacific and LAMEA. North America emerged as the leading region in the cloud DLP market with the largest revenue share in 2021. It is due to the growing number of data breaches in many industries. Along with that, the high adoption rate of the advanced technologies and systems across this region is contributing to the demand for latest solutions, technologies and systems in the region.
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Broadcom, Inc. and Cisco Systems, Inc., are the forerunners in the Cloud DLP Market. Companies such as McAfee Corp., Zecurion and Netskope, Inc. are some of the key innovators in Cloud DLP Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Broadcom, Inc., Check Point Software Technologies Ltd., Cisco Systems, Inc., Forcepoint LLC, HelpSystems, LLC, McAfee Corp., Zscaler, Inc., Lookout, Inc., Netskope, Inc., and Zecurion
Recent Strategies deployed in Cloud DLP Market
Partnerships, Collaborations and Agreements:
Sep-2022: Netskope came into a partnership with Orange Business Services, a global network-native digital services company. This partnership aimed to provide a new SSE (Security Service Edge) solution embedded into the Orange Telco Cloud Platform. Additionally, this partnership would use Orange Cyberdefense’s security expertise and Netskope’s global security private cloud footprint.
Jun-2022: Zscaler extended its partnership with Amazon Web Services (AWS), a preferred cloud provider. This partnership aimed to assist companies in securely boosting their transition to the cloud. Together, the companies would provide users a unified solution to consolidate and streamline cloud security operations along with assisting companies to advance their security architecture from ineffective legacy models to a modern Zero Trust approach developed for the cloud.
Sep-2021: Zscaler formed a partnership with Siemens, the global powerhouse in industrial automation and digitalization. This partnership aimed to address growing cyber threats posed to industrial infrastructure and remote collaboration challenges for discrete as well as process industries.
Sep-2020: Zscaler extended its partnership with VMware, an American cloud computing and virtualization technology company. This partnership would assist companies to simplify security in the new, dynamic workplace. In addition, Zscaler would work with VMware to assist large global enterprises to streamline the adoption of a complete Secure Access Service Edge (SASE) architecture and more effectively deploy Zero Trust security.
Acquisition & Mergers:
Aug-2022: Netskope took over Infiot, an information technology company. This acquisition aimed to allow Netskope customers to implement uniform security and quality of experience (QoE) policies to a broad range of hybrid work requirements, from employees at home or on-the-go to ad-hoc point-of-sale systems, branch offices, and multi-cloud environments.
Jun-2022: Netskope acquired WootCloud, an innovator in applying Zero Trust principles to IoT security. This acquisition aimed to bring Netskope WootCloud’s award-winning HyperContext Security Platform. Along with that, the acquisition would expand Netskope’s acclaimed SSE and Zero Trust capabilities to safeguard enterprise IoT devices at scale.
Oct-2021: Forcepoint took over Security Service Edge (SSE) leader Bitglass. Through the combination of Bitglass, Forcepoint would emerge as the only company providing all of the strategic components of SSE and SASE.
Oct-2021: HelpSystems acquired Digital Guardian, the industry’s only SaaS provider of data loss prevention (DLP) solutions for large and mid-sized organizations. This acquisition aimed to provide users visibility and protection of their data across various operating systems as well as applications.
Aug-2021: Check Point Software Technologies took over Avanan, the fastest growing cloud email security company. This acquisition would integrate Avanan into Check Point Infinity, which would enable companies to modernize legacy solutions with email security-as-a-service and protect cloud email and collaboration portfolios from the most advanced attacks.
May-2021: Zscaler acquired Smokescreen Technologies, a leader in active defense and deception technology. This acquisition aimed to integrate Smokescreen’s cutting-edge capabilities with Zscaler Zero Trust Exchange.
Mar-2021: Lookout completed the acquisition of CipherCloud, a leading cloud-native security company. This acquisition would integrate Lookout Mobile Endpoint Security with the CipherCloud SASE technologies and improve the company’s position in the market by offering the industry’s first end-to-end platform that helps in securing an organization’s whole data path from endpoint to cloud.
May-2020: Zscaler completed the acquisition of Edgewise Networks, a pioneer in securing application-to-application communications for public clouds and data centers. This acquisition aimed to enhance the security of east-west communication by verifying the identity of application software, services, and procedure to gain a zero-trust environment that measurably decreases the attack surface and reduces the risk of application compromise as well as data breaches.
Mar-2020: McAfee took over Light Point Security, a cybersecurity company. This acquisition aimed to add Light Point Security’s robust browser isolation capabilities to the McAfee product portfolio, along with adding their award-winning team. In addition, the acquisition would also lead to the delivery of solutions that enable the customers to safeguard themselves from cyber threats along with boosting their businesses and eradicating limitations.
Jan-2020: Broadcom took over Bay Dynamics, a cyber risk analytics software provider. This acquisition aimed to benefit Symantec security partners that specialize in Data Loss Prevention (DLP).
Product Launches and Product Expansion:
Jun-2022: Zscaler launched the Posture Control solution. This solution is developed to provide companies with unified Cloud-Native Application Protection Platform (CNAPP) functionality tailor-made to secure cloud workloads.
May-2022: Netskope launched a patented endpoint data loss prevention (DLP) solution. This solution would allow Netskope Intelligent SSE customers to safeguard data everywhere it moves across the hybrid enterprise.
Feb-2022: Forcepoint unveiled Forcepoint ONE, the industry’s first ‘easy button’ for securing enterprises with hybrid workforces. This platform streamlines security for conventional and remote workforces, enabling customers to gain safe, controlled access to business data on the web, in the cloud, and in private applications.
Sep-2021: Lookout launched the industry’s first Zero Trust access solution. This solution expanded Lookout Continuous Conditional Access (CCA), achieved by combining the company’s Mobile Endpoint Security and Secure Access Service Edge (SASE) solutions.
Scope of the Study
Market Segments covered in the Report:
By Component
• Solution
• Services
By Organization Size
• Large Enterprises
• SMEs
By Vertical
• BFSI
• IT & Telecom
• Retail & Consumer Goods
• Manufacturing
• Government & Public Sector
• Energy & Utilities
• Healthcare & Life Sciences
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Broadcom, Inc.
• Check Point Software Technologies Ltd.
• Cisco Systems, Inc.
• Forcepoint LLC
• HelpSystems, LLC
• McAfee Corp.
• Zscaler, Inc.
• Lookout, Inc.
• Netskope, Inc.
• Zecurion
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