(EMAILWIRE.COM, April 01, 2020 ) According to a new market research report "Cloud DLP Market by Component (Solution and Service), Service (Professional, and Managed Services), Organization Size, Vertical (BFSI, Healthcare and Life Sciences, Retail and Consumer Goods), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the cloud DLP market size expected to grow from USD 744.4 Million in 2017 to USD 2,508.9 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 27.5%.

The demand for cloud DLP services is expected to be majorly driven by the increasing employee mobility and Bring Your Own Device (BYOD) trend. Moreover, the rising concerns regarding the leakage of critical information is believed to be pushing the adoption of the cloud DLP technologies among enterprises and expected to gain a major traction during the forecast period.

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The solution segment is expected to have the largest market share during the forecast period

Cloud DLP is a comprehensive data security solution that ensures information loss prevention across the cloud environment. It addresses the data security needs when the data is at risk. The cloud DLP solution helps organizations in preventing the access to confidential data from external environments. It also helps network administrators control the data transfer internally among the end-users. Furthermore, it maintains the visibility and control needed to comply with privacy and data protection regulations.

The retail and consumer goods vertical is expected to grow at the highest CAGR during the forecast period

The retail and consumer goods vertical is expected to grow at the highest rate during the forecast period, due to the need to protect the critical data stored in the cloud environment. The rising usage of mobile devices, which have a direct access link to the customer’s private information, has led to the increase in data theft and data loss fear among the retailers. Thus, the retailers are adopting comprehensive cloud DLP solutions, as data risk is present at all levels, from various transactions to the confidentiality of personal information of customers and employees.

Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period

North America is estimated to have the largest market share in 2017, while APAC is projected to be the fastest growing region at the highest CAGR, as enterprises in the APAC region are deploying cloud technologies at a faster rate, which is increasing the risk of mission-critical data being leaked. Therefore, the growth opportunities are said to be higher in the APAC region.

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The major market vendors providing cloud DLP technologies are Symantec (California, US), Check Point Software Technologies (Tel Aviv, Israel), Digital Guardian (Massachusetts, US), Forcepoint (Texas, US), and McAfee (California, US).

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