Global Data Classification Market Size, Trends & Growth Opportunity, By Component (Services, and Solutions), By Methodology (Content-Based Classification, Context-Based Classification, and User-Based Classification), By Application (Access Control, Web, M

Global Data Classification Market Size, Trends & Growth Opportunity, By Component (Services, and Solutions), By Methodology (Content-Based Classification, Context-Based Classification, and User-Based Classification), By Application (Access Control, Web, Mobile, and Email Protection, Governance and Regularity Compliance, and Centralized Management), By Region and Forecast till 2027.

Global Data Classification Market

The global Data Classification market was valued at USD 786.74 million in 2021 and it is expected to reach at USD 4544.30 million in 2027 at a CAGR of 24.3 % during forecast period 2022-2027.

Data classification is defined as processes which categorizes and sort the data in various types, structures, and other properties. It is usually done on the basis of customer’s requirement and availability of data sets present for various businesses. There are several methods and solutions for the data classification within a data repository. These solutions consist certain data sets of business intelligence software for data separation and identification of raw data from structured data.

Market Drivers

Increase in concern for data security of huge data volume as the cybercrime related to data breach has been increased across the globe which is expected to boost the global data classification market growth. Furthermore, stringent rules and regulations related to data needs to be followed by the organization will positively influence the market growth. Moreover, increase in government initiatives regarding data classification will drive the market growth. In developed countries including UK, US, Germany, Singapore, and others where the government had regulated the IT environment with data encryption and protection laws are finding opportunity areas to promote data classification services in market.

Market Restraints

However, lack of awareness about data classification is the major challenging factor which is expected to hinder the global data classification market growth. Also, complicated classification schemes and terminologies will affect the market growth.

COVID-19 Impact

Due to outbreak of covid -19 the market affect positively as lockdown and quarantine is imposed by government and remote working is adopted due to fear of contracting virus which enhances the usage of web, mobile and email protection .thus, data protection and data classification are the major factor which propells the market growth.

Recent Development

In 2019 Seclore introduced advanced email encryption solution compatible with Microsoft Office and 365, to increase the security, data classification and data loss protection features for users which enhance Seclore market competitiveness in the data classification domain. PKWARE, Inc., launched the Smart crypt Classification solution to enhance its product offering in data classification and security industry. Miner Eye develope a technology for its Data Tracker solution which automatically identify, categorize, and track a massive amount of information in a short period. AWS and McAfee which may automate data classification and identification for auditing, authorizing rights, and identifying security gaps. Titus Intelligent Protection is develop which reduce the danger of data loss.

Market Segmentation

Global Data Classification Market is segmented into component such as Services, and Solutions, by Methodology such as Content-Based Classification, Context-Based Classification, and User-Based Classification, by application such as Access Control, Web, Mobile, and Email Protection, Governance and Regularity Compliance, and Centralized Management. Further, market is segmented into Vertical such as BFSI, Healthcare, Defense, IT & Telecom, Energy & Utility, and Others.

Also, Global Data Classification Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Player

Various key players are discussed in this report such as IBM, Google, Microsoft, AWS, Symantec, Opentext, Boldon James, Covata, and Varonis.

Market Taxonomy

By Component

• Services
• Solutions

• Content-Based Classification
• Context-Based Classification
• User-Based Classification

• Access Control
• Web, Mobile, and Email Protection
• Governance and Regularity Compliance
• Centralized Management

• BFSI
• Healthcare
• Defense
• IT & Telecom
• Energy & Utility
• Others

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

• What are the Key Opportunities in Global Data Classification Market?
• What will be the growth rate from 2022 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?