A cloud data loss prevention solution is crucial for an organization to protect sensitive and confidential data from malicious attacks, ransom, and document leaks. Cloud data loss prevention solution is a process for protecting data in cloud to reduce unauthorized exposure or data theft. This solution provides tools to categorize, mask, and convert sensitive elements. Therefore, it helps an organization to manage of the data which it has collected, stored, or used for business or analytics. The purpose of cloud data loss prevention solutions is to avoid confidential information and sensitive data from being used, stored, or transferred insecurely.
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This solution specifically protects enterprises that have implemented cloud for storage of data. Additionally, this solution eliminates or changes confidential or sensitive data before files are shared to the cloud. Cloud data loss prevention solution continuously audits stored data. The solution is able to apply controls to sensitive data automatically.
The driving factor for the global cloud data loss prevention solution market is the rise in need for data security. The other additional factor driving the cloud data loss prevention market is the increase in employee mobility and BYOD (bring your own device). The cloud data loss prevention solution provides additional functions such as monitoring data usage and off network and maintaining the visibility and control to comply with privacy and data protection regulations.
The global cloud data loss prevention solution market is segmented based on service, organization size, industry, and geography. Based on service, the market can be classified into professional services and managed services. In terms of organization size, the global cloud data loss prevention solution market can be segregated into small, medium, and large.
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In terms of industry, the market can be classified into IT and telecommunication, consumer goods, banking and financial services, healthcare, education, commercial, and others. Based on geography, the global cloud data loss prevention solution market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Countries in North America such as the U.S., Mexico, and Canada account for a major share of the cloud data loss prevention solution market in the region. This is due to increased adoption of cloud and data storage technologies in the region. Additionally, the cloud data loss prevention solution market in countries in Asia Pacific such as China and India, is expanding at a significant growth rate owing to the high demand for data loss prevention software and increasing security attacks in these countries.
The global cloud data loss prevention solution market is extremely competitive characterized by a number of software security companies. The global cloud data loss prevention solution market includes a few recognized players who principally provide protection of cloud data. The competition in this market is projected to strengthen during the forecast period due to the high demand for cloud data loss prevention solutions. Key players operating in the market include Symantec Software Solutions Private Limited., CA Technologies, Cisco Systems Inc., Digital Guardian, Fidelis Cyber security, Zscaler, Inc., Netskope, Inc., Clearswift, Forcepoint, Skyhigh Networks, Websense, Inc.