Sensitive Data Discovery: Introduction
- At present, sensitive & confidential data exists in unstructured and structured data formats across production and non-production environments. Sensitive data discovery software provides automated and dependable content analysis. The software also tracks information across the network, including NAS and SAN storage, file shares, and SharePoints sites.
- Sensitive data discovery tools reduce the risk from manual and tedious processes by automatically tagging and classifying indirect, direct, and sensitive identifiers for efficient human inspection. Sensitive data discovery distinguishes data that is the most at risk to exposure, such as personally identifiable information (PII) and protected health information (PHI).
- The global sensitive data discovery market is anticipated to expand at a rapid pace during the forecast period, due to increasing adoption of sensitive data discovery among organizations across the globe.
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Global Sensitive Data Discovery Market: Dynamics
Global Sensitive Data Discovery Market: Key Drivers
- Rise in adoption of Artificial Intelligence (AI) and Machine Learning (ML) technology has generated massive amounts of organized and unorganized data, which is expected to boost the adoption of sensitive data discovery tools during the forecast period.
- Additionally, growing investment in data privacy and security by end-users along with evolving regulations such as California Consumer Privacy Act (CCPA) and General Data Protection Regulation (GDPR) to protect sensitive data across the globe is anticipated to fuel the sensitive data discovery market during the forecast period.
- Rise in demand to discover sensitive structured and unstructured data is estimated to boost the sensitive data discovery market during the forecast period.
- Furthermore, due to COVID-19, rise in number of remote workers and real-time data access are projected to boost the sensitive data discovery market in the forthcoming years.
- Rise in cases of security breach due to cloud misconfigurations is estimated to boost the market during the forecast period.
- Growing need to reduce the risk of infrastructure security and breaches is estimated to boost the market during the forecast period.
- Rise in rate of adoption of cloud computing technologies across various sectors is also projected to boost the adoption of sensitive data discovery market
- However, lack of skilled professional workforce and dependence on manual systems for sensitive data discovery is anticipated to hamper the market during the forecast period.
Impact of COVID-19 on the Global Sensitive Data Discovery Market
- Increasing cases of COVID-19 across the globe is resulting in economic slowdown and millions of employees are working from home for the first time, during this pandemic. This is expected to change the conservative corporate culture. Additionally, the e-health sector is leading to explosion of structured and unstructured data during the pandemic, which needs to be secured and managed efficiently to derive insights. Hence, adoption of sensitive data discovery in the healthcare sector is projected to rise during COVID-19. Additionally, the global spread of COVID-19 has led to several privacy, security, data protection, and compliance questions, which creates an opportunity for the adoption of sensitive data discovery. This in turn is projected to propel the global sensitive data discovery market during the COVID-19 pandemic.
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North America to Hold Major Share of the Global Sensitive Data Discovery Market
- In terms of region, the global sensitive data discovery market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global sensitive data discovery market with the largest share mainly because of developed economies such as the United States and Canada. The U.S. is a key market in the region due to the early adoption of sensitive data discovery solutions.
- The sensitive data discovery market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to increasing awareness about data privacy and security among organizations in key countries such as China, Japan, and India, which is expected to fuel the adoption of sensitive data discovery solutions and services. This is expected to drive the adoption of sensitive data discovery solutions in the region.
Global Sensitive Data Discovery Market: Competition Landscape
Several local, regional, and global players are active in the sensitive data discovery market with a strong presence. Rapid technological advancements have created significant opportunities in the market. Vendors of sensitive data discovery are focusing on inorganic growth strategies such as strategic collaborations and merger and acquisition with technology partners to develop innovative and advanced solutions to improve their offerings and market reach.
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Key Players Operating in the Global Sensitive Data Discovery Market Include:
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Amazon Web Services
- Google, LLC
- Hitachi Ltd.
- SolarWinds Corporation
- Thales Group S.A.
- Micro Focus International PLC
- Proofpoint, Inc.
- Netwrix Corporation
Global Sensitive Data Discovery Market: Research Scope
Global Sensitive Data Discovery Market, by Component
- Solution
- Services
Global Sensitive Data Discovery Market, by Deployment
- On-premise
- Cloud
Global Sensitive Data Discovery Market, by Application
- Security & Risk Management
- Asset Management
- Compliance Management
- Others
Global Sensitive Data Discovery Market, by Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
Global Sensitive Data Discovery Market, by End-user
- BFSI
- Retail & e-commerce
- Manufacturing
- Healthcare
- Telecom & IT
- Government
- Others
Global Sensitive Data Discovery Market, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- France
- U.K.
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
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