The global data loss prevention market is anticipated to grow at a lucrative rate during the forecast period. Data is raw information and/or in general terms all the processed and unprocessed data which provides information about one or the other aspect comes under this category. The systems which are designed solely for the purpose of detecting and preventing any potential data breach that may occur or a data ex-filtration transmission which might be taking place, detecting and blocking sensitive data while it is being used in endpoint actions or it is in motion as in network traffic or it is static which is in data storages are known as data loss prevention software and systems. The different DLP controls which are applied at the three stages are perimeter security, network monitoring, control on access to the internet, collection of data from third parties, and remote access for the data in motion. Controls for data in use that are applied are monitoring of privileged user, usage/access monitoring, data sanitation, usage of test data, data redaction, and control on export and saving of data. For the data which is at rest endpoint security, encryption of host, mobile device protection, network/intranet storing, control on physical media, and disposal/destruction of data control methods are used. The sensitive data can be the company/private information, financial information, intellectual property, credit card data, or any other information which might compromise the business in the industry.
The growth of this data loss prevention market can be attributed to the fact that in the very recent past many high impact cases have occurred which were the causes for high costs incurred and major public relations havoc for the affected companies. The increasing risks of data security and safety due to the increase in the number of ways data can leave from the organization, cheaper storage devices, systems being more decentralized increasing accessibility, and the simple increase in the amount of data is tremendous. The drivers in themselves are also challenges for the industry. Because there are so many ways that data loss can occur, there have to be as many control procedures in effect.
The data and related data loss can be divided into corporate data like new designs and price/cost lists, transaction data such as payment details and purchase orders, customer data such as customer lists and their contact information, personally identifiable data such as credit card information and passport information. The data loss prevention market provides a variety of software and control systems offered by a range of firms for data loss prevention. The major providers for data loss prevention products in the market are McAfee, Trend Micro, Websense, RSA, and Symantec with many new entrants emerging.
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Amidst the COVID-19 crisis, the network security industry is poised for sustainable growth despite the foreseeable economic turbulence. Implementation of remote working policy, due to lockdown is putting unanticipated stress on remote networking technologies and causing operational technology (OT) security risk concerns over the vulnerable home network security. Furthermore, as digital infrastructure becomes a critical aspect of business strategic considerations, network security will become a competitive differentiator for businesses and overhaul their remote working strategies. We are incessantly monitoring the market dynamics and regulations while continuously assessing the impact of Covid-19 with the aim of providing you with actionable market insights. The report will account for Covid19 as a key market contributor.