Overview
The data classification market is anticipated to grow by US$1,597.0 million by 2023 rapidly growing at a CAGR of 22.8% during the forecast period. The global data classification market is driven by growing investment for research and development from key players as well as growing demand for data analysis in different industry verticals. These factors have helped shape the data classification market and are expected to boost the growth. Companies in the Data Classification Market could also face challenges such as high investment and maintenance cost. The details covered in the data classification market report cover all the aspects of the industry. Analysts studying the data classification market have also shared growth projections in the report and have suggested data classification market players to plan business strategies accordingly.
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Market Segmentation
The global data classification market has been segmented based on component, application, and type. On the basis of components, the market for data classification is segmented based on solution - standalone solution and integrated solution, and services - consulting service, maintenance & support service, and integration service. Additionally, the market on the basis of type, is segmented into context-based, user-based, and content-based. The global market for data classification is also covered based on the application segment which is further split into GRC, access control, web, centralized management, and mobile & email protection.
Factors like foreign direct investment as well as outsourcing of services in order to save costs, technical support from modern tools available support the data classification market growth. The performance of data classification market has also been studied for the past and current years. Additionally, the data classification market report provides analysis of these segments. The data classification market segmental analysis provided in the report offers major details about the data classification market based on the data and forecasts till 2023
Industry News
HelpSystems announced that vera would be the cloud-based data security service. The IT company notes that, with the contract, its digital app support extension will continue to satisfy a steadily increasing need for technologies that secure information over the entire data lifecycle. This entails definition of information, document mobility, avoiding data loss, and encryption. As a result of the COVID-19 pandemic this year, the need for enhanced data protection was inspired by the move to remote jobs in many companies.
Regional Overview
Companies in the data classification market are spread across the world. The data classification market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American data classification market has many companies across the United States, Canada, and Mexico. The data classification market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the data classification market can be found in the market research report. Europe has companies in the data classification market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the data classification market across India, China, and Japan in the Asia-Pacific region is also presented in the report.
Competitive Landscape
The data classification market is supported by several factors including high demand, entry of new companies, organized IT environment in many countries, and availability of skilled professionals. The population growth around the world and increasing demand of data classification market based services and products also support the market growth. However, the data classification market growth can be affected due to high maintenance and infrastructure development cost. The report covers all such details which will help companies in the data classification market to strengthen their business plan and improve their product portfolio. The data classification market research report also provides company profiles of major companies. The company profiles of many organizations operating in the data classification market report highlights crucial details like company size, revenue growth, and details of mergers and acquisitions taking place in the data classification market. New companies and established businesses can plan their strategies based on this data provided in the data classification market research report.
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Data Classification Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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