Data Classification Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Data Classification Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Report Digest
Global Data Classification Market: Overview
Data classification is primarily categorized into private, confidential, internal, and public classification. Confidential, internal, and private information such as personal details, business plans, memos, non-disclosure agreements, internal employee documents, confidential customer information, internal financial reports, mergers and takeovers information, regulatory information, contracts information, client information, business plans, strategy documents, and regulatory data are all at high risk of cyber attacks. All these types of information are crucial for the survival as well as the day to day operation of any enterprise. Naturally, such information types need to be stored and sorted in an organized manner. For such purposes, the demand for data classification solutions is on the rise and is thus helping the growth of the global market.
Global Data Classification Market: Notable Developments
Some of the recent developments in the global data classification market are given below:
- In October 2019, Microsoft announced that the company is collaborating with Novartis, a pharmaceutical giant, with an objective to transform medicine with artificial intelligence. Novartis and Microsoft together have formed Novartis AI lab. Microsoft will act as it strategic and data-science partners in this project.
- In May 2019, Innovative Routines International (IRI) Inc. and the CoSort® Company, together announced that they have developed a new multi-functional Data Vault® generation wizard. This wizard developed by CoSort® includes the IRI Velocity® data management platform. The new IRI Data Vault Generator will be able to migrate the relational database schemas and the architecture of Data Vault 2.0. This will help in creating referentially and business driven insightful data.
Global Data Classification Market: Drivers and Restraints
There are several factors that are responsible for driving the growth of the global data classification market. One of the biggest growth factors for the growth of the market has been increasing adoption of data classification solutions across the globe, particularly in Europe. With the advent of revolutionary and modern regulations such as General Data Protection Regulation that concentrates on protecting the data privacy rights of an individual are also expected to help the growth of the global data classification market.
Another important factor for the growth of the global data classification market is the burgeoning data-driven industrialization across several parts of the world. Moreover, with the introduction of strict governmental regulations about the data storage, information, and classification are creating a demand for efficient classification solutions. Naturally, the growth of the market for data classification is influenced by such developments.
Global Data Classification Market: Geographical Outlook
The global data classification market is divided into five major regional segments to provide a better understanding of its overall working dynamics. These regions are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Currently the global data classification market is dominated by the North America region. The regional segment is expected to continue to lead the market over the course of the given forecast period of 2018 to 2028. The growth of North America market for data classification is primarily driven by the presence of prominent and technologically advanced industries. These industries have the basic requirement to adopt the high-tech classification solutions in order to manage their data and also to store information. The North America region is projected to lead the global market as it will continue to produce large volumes of and data and information. Moreover, the regional authorities have issued a wide range of regulatory mandates to safeguard the interest of clients and shareholders. This is also expected to help the data classification market in North America to flourish even further.
Market Segmentation
- Component
- Solution
- Services
- Classification Type
- Content-Based Classification
- Context-Based Classification
- User-Based Classification
- Application Outlook
- GRC
- Access Control
- Web, Mobile & Email Protection
- Centralized Management
- Vertical Outlook
- BFSI
- Defense and Government
- Healthcare and Life Sciences
- Telecom & IT
- Education
- Media and Entertainment
- Others
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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