Data Classification Market Highlights:
Data classification is the process of categorizing data into different groups or classes based on shared characteristics 1, such as their sensitivity, value, or level of protection required. By classifying data, organizations can identify the most sensitive data and apply the appropriate level of protection to it. This can include implementing access controls, encryption, or other security measures to ensure the confidentiality, integrity, and availability of the data.
Data Classification Market Share is projected to grow at a CAGR of 23.60% during 2022-2030.
Data classification can be based on various factors such as the data’s sensitivity to its impact on the organization if it is lost or compromised. Some common types of data classification include public data, internal data, confidential data, and restricted data. The level of security required for different classifications depends on the organization’s policies and applicable regulations.
Implementing a proper data classification system is important for any organization that collects, handles, or stores sensitive data. It helps to ensure that data is adequately protected, and that the appropriate security measures are implemented based on the sensitivity of the data. Furthermore, a robust classification system helps organizations to maintain compliance with regulations and industry standards.
The key players in the data classification market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are—Amazon Web Services (US), IBM Corporation (US), Microsoft Corporation (US), Google LLC (US), Symantec Corporation (US), OpenText Corporation (Canada), Covata Ltd (Australia), Boldon James Ltd (UK), Varonis Systems Inc (US), and Innovative Routines International Inc (US). These players contribute a major proportion towards market growth.
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Apart from the top key players, the other players contribute nearly 30–35 % in the data classification market. These include Innovative Routines International Inc (US), Informatica (US), DataGuise Inc (US), Spirion LLC (US), Digital Guardian (US), Titus (Canada), Netwrix Corporation (US), PKWARE (US), GTB Technologies (US), Forcepoint (US), Sienna Group (US), MinerEye (Israel), SoftWorks AI (US), Expert TechSource (India), Clearswift (UK), Seclore (US), and Janusnet (Australia). and others.
Regional Analysis:
The market for data classification is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of data classification market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). The market is dominated by North America owing to major developments by key players in the data classification market. Nearly 70% of the data classification companies have their presence in the US.
On the other hand, Europe closely follows North America and is estimated to be the second largest region by revenue by 2023. Asia-Pacific is expected to be the highest fastest growing region with highest CAGR during the forecast period since due to growth in the semiconductor industry, and digital infrastructure. The BFSI and IT sector in Asia-Pacific is growing at a rapid pace and countries such as India, and Japan are expected to be among the top IT regions by 2025.
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Segmentation:
The global data classification market is segmented into component, type, application, and region.
By component, the market is segmented into solution, and services. Solution is further segmented into standalone solution, and integrated solution. Services is further segmented into consulting service, integration service, and maintenance & support service.
By type, the market is segmented into context-based, content-based, and user-based.
By application, the market is segmented into access control, GRC, web, mobile & e-mail protection, and centralized management.
By region, the data classification market is segmented into North America, Europe, Asia-Pacific, and rest of the world.
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