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Data protection market in the US

Data protection market in the USData protection market in the US

Data protection market in the US

Dublin, May 9, 2024 (GLOBE NEWSWIRE) — The “US Data Protection Market by Region, Competition, Forecast and Opportunity, 2019-2029F” report has been added to ResearchAndMarkets.com offering.

The US data protection market was valued at $58 billion in 2023 and is expected to witness strong growth at a CAGR of 15.7% until 2029 over the forecast period.

In recent years, the US data protection market has experienced significant growth and transformation, reflecting the growing importance of protecting sensitive information in an era of rising cyber threats and data privacy concerns. As organizations continue to digitize their operations, the need for comprehensive data protection solutions increases.

This market covers a wide range of products and services, including data encryption, access control, threat detection and data loss prevention tools, which are critical to ensuring data security and compliance. Moreover, the implementation of stringent data protection regulations such as the California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR) are further fueling market growth as companies seek to avoid high fines and reputational damage.

Major players in the U.S. data protection market include established cybersecurity companies and emerging startups, all competing to meet the evolving needs of companies across industries. Given the ever-increasing volume of data and persistent cyber threats, this market is poised for continued expansion and innovation, making it a key segment in the broader cybersecurity landscape.

Key market trends

Increased use of zero trust security frameworks

One prominent trend in the US data protection market is the accelerated adoption of Zero Trust security frameworks. This approach challenges the traditional perimeter-based security model and emphasizes the principle of “never trust, always verify.” Zero Trust assumes that threats can exist both outside and inside the network, and access control is enforced regardless of the user’s location. With the proliferation of remote work and cloud-based services, organizations are prioritizing data protection by implementing stringent access controls.

This trend includes implementing multi-factor authentication, micro-segmentation, and continuous monitoring to verify the identity and security posture of users and devices. As data breaches and insider threats remain a significant concern, a Zero Trust approach is becoming a core element of data protection strategies in the United States.

Emphasis on resiliency and recovery

Data resiliency and recovery have become important in the US data protection market. Organizations realize that data loss can have serious consequences, and data resiliency strategies are evolving accordingly. As ransomware attacks and natural disasters increase, companies are investing in reliable backup and disaster recovery solutions.

These solutions provide the ability to quickly recover and restore data in the event of an incident. Additionally, there is an increasing focus on air-gapped backup solutions that protect against ransomware attacks that attempt to encrypt or destroy backups. Ensuring data resiliency is a key aspect of data protection, helping organizations maintain business continuity and minimize downtime in the face of disruptions.

Data privacy and ethical considerations

Data privacy and ethical use of data are key market trends in the United States. As consumers become more aware of how their data is processed, the demand for transparency and ethical data practices increases. Not only are organizations legally bound by data protection regulations, but they are also under increasing pressure to demonstrate responsible data management.

The market trend is associated with a shift towards implementing data protection measures that not only secure data, but also respect privacy and ethical considerations. This includes practices such as data anonymization, data minimization, and ensuring clear consent mechanisms for data collection. As a result, companies are investing in privacy-enhancing technologies and conducting ethical assessments of data use to adapt to changing societal expectations.

Cloud-native data protection solutions

The US data protection market is seeing an increase in cloud-native data protection solutions. As organizations increasingly migrate their data and applications to the cloud, the need for data protection tools designed specifically for cloud environments is growing. These solutions provide data encryption, access control, and monitoring capabilities tailored to cloud infrastructure.

Cloud-native data protection enables seamless integration with cloud services and offers the scalability and flexibility to adapt to dynamic data workloads. It enables organizations to secure data in the cloud and across hybrid and multi-cloud environments. This market trend reflects the evolving data landscape as companies leverage cloud technologies to improve agility and cost efficiency.

Integration of artificial intelligence and machine learning

The integration of artificial intelligence (AI) and machine learning (ML) are dominant trends in the data protection market in the United States. Artificial intelligence and machine learning technologies are used to improve data protection by identifying anomalies, predicting threats and automating security responses. These technologies enable organizations to detect and respond to potential data breaches more quickly and accurately. AI-based solutions can recognize data access and behavior patterns, helping to identify unauthorized or suspicious activity.

Moreover, machine learning algorithms can provide insights into data classification and risk assessment, helping with data protection efforts. As the threat landscape becomes increasingly complex, artificial intelligence and machine learning are playing a key role in strengthening the capabilities of data protection solutions in the United States. This trend shows the continued integration of advanced technologies to meet evolving data security and privacy challenges.

Key Features:

Report attribute

Details

number of pages

86

Forecast period

2024 – 2029

Estimated market value (USD) in 2024

$58 billion

Projected market value (USD) until 2029

$140.38 billion

Compound annual growth rate

15.7%

Regions covered

United States


Competitive environment

Company Profiles: Detailed analysis of the major companies present in the US data protection market.

  • IBM Corporation

  • Microsoft Corporation

  • Cisco Systems, Inc.

  • Broadcom, Inc.

  • Dell Technologies Inc.

  • McAfee limited liability company

  • Trend Micro enabled

  • Palo Alto Networks, Inc.

  • Fortinet limited liability company

  • FireEye, Inc.

Report scope:

US Data Protection Market by Component:

US data protection market by implementation:

US Data Protection Market by Organization Size:

US data protection market, by end user:

  • IT telecommunications

  • BFSI

  • Production

  • Healthcare

  • Media entertainment

  • Retail sale of consumer goods

  • Government

US Data Protection Market by Region:

  • South USA

  • Midwestern United States

  • Northeastern United States

  • Western United States

More information about this report can be found at https://www.researchandmarkets.com/r/tsa37m

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