Albany, NY -- (SBWire) -- 03/09/2019 --Rapid strides by the cloud market over the past several years have intensified the need for data loss prevention for protecting sensitive data against leaks, thefts, and unauthorized access. Rapidly growing numbers of enterprises moving their sensitive data to cloud is a key underpinning to the steady evolution of the demand for various cloud data loss prevention solutions.
Virtual Storage Concept Gaining Strength
In recent years, the trend of shadow IT has picked up some pace with the proliferation of unapproved services and unauthorized cloud storage apps. The trend gathered momentum from growing number of employees working on company data from remote locations. The need for data encryption for enterprise data has spurred the demand for cloud data loss prevention in various industries. The rising risk of data breaches in transit and cloud storage is bolstering the demand for such solutions. Moreover, virtual storage concept gaining strength is also catalyzing the growth of the market. Furthermore, the rising demand for continuously auditing data for stopping data breaches is a key trend fueling the adoption of cloud data loss prevention solutions.
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The staggering rise in the use of cloud apps and file sharing services in enterprise across enterprises is a notable factor making the application of cloud data loss prevention solutions. These solutions helps enterprises automatically apply controls based on their IT policies. In addition, they help in accurately discovering sensitive data in the cloud and ensure that their movement across the cloud chain conforms to privacy and data protection regulations. There is a rising trend of not relying overly on cloud storage providers for cloud data protection as the companies are increasingly proactive in avoiding their data compromise. The growing use of solutions that enforce encryption and digital rights, especially relating to identity-based access, is boosting the market.
The market has picked up rapid momentum from increasing trend of bringing your own device (BYOD) and enterprise mobility. This has bolstered the demand for cloud data loss prevention solutions for ensuring better data storage management and increased infrastructure security. The growing popularity of endpoint security in cloud data management has also filliped the demand for cloud data loss prevention solutions. However, the market may run the risk of not attaining its true potential due to lack of incompatible supporting technologies.
Developing and Developed Regions adopt Data Encryption for Enterprise Data on Cloud
Geographically, the regions that witness wide uptake of cloud and data storage technologies are expected to benefit immensely from cloud data loss prevention solutions. In this regard, several economies are North America are expected to contribute sizeable shares of revenue in the near future. On the other hand, the rising risk of data breaches in several developing economies, notably in Asia Pacific, will expand the prospects of the global cloud data loss prevention solutions market.
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.
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Cloud Data Loss Prevention Solution Market to Reap Large Gains from Increasing Trend of Bringing Your Own Device and Enterprise Mobility