Global data classification market was valued at USD 475.4 million in 2017 and is expected to reach USD 1,597.0 million by the end of the forecast period with a CAGR of 22.8%.
Data classification, as its name suggests is a process to categorize and sort the data in different types, structure, and other properties. This classification is usually done on the basis of customer’s requirements and the availability of data sets present for various businesses. The data set selected is seprated from the actual data, and subsequently the management process is applied on it. There are various solutions and methods for the classification of data within a data repository or database. These solutions include certain set of business intelligence software for data identification, and sepration of raw data from strucvtured data. Some of the major data classification practices in enterprises include data classification on demographic basis, identifying storing data in memory cache, and sorting of data based on file properties.
The vendors providing data classification solutions provide an intetgrated solution rather than standalone solution such as data security, and data loss prevention solution integrated with other data analysis, or data processing solutions. These solutions are also often integrated with data center software infrastructure.
The global data classification market is segmented into component, type, application, and region.
By component, the market is segmented into solution, and services. Solution is further segmented into standalone solution, and integrated solution. Services is further segmented into consulting service, integration service, and maintenance & support service.
By type, the market is segmented into context-based, content-based, and user-based.
By application, the market is segmented into access control, GRC, web, mobile & e-mail protection, and centralized management.
By region, the data classification market is segmented into North America, Europe, Asia-Pacific, and rest of the world.
The global market for data classification is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of data classification market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
Among the regions mentioned, the data classification market experienced the dominance by North America region till 2017 and is also expected to dominate by the end of forecast period. The US remains the highest revenue generating company by the end of 2023 owing to major developments by key players in the data classification market. Nearly 70% of the data classification companies have their presence in the US. These vendors are highly investing in development of software resources, and algorithms for providing effective data classification solution. Moreover, the companies are also engaged in adopting various growth strategies to improve their market presence.
The key players in the data classification market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are—Amazon Web Services (US), IBM Corporation (US), Microsoft Corporation (US), Google LLC (US), Symantec Corporation (US), OpenText Corporation (Canada), Covata Ltd (Australia), Boldon James Ltd (UK), Varonis Systems Inc (US), and Innovative Routines International Inc (US). These players contribute a major proportion towards market growth.
Apart from the top key players, the other players contribute nearly 30–35 % in the data classification market. These include Innovative Routines International Inc (US), Informatica (US), DataGuise Inc (US), Spirion LLC (US), Digital Guardian (US), Titus (Canada), Netwrix Corporation (US), PKWARE (US), GTB Technologies (US), Forcepoint (US), Sienna Group (US), MinerEye (Israel), SoftWorks AI (US), Expert TechSource (India), Clearswift (UK), Seclore (US), and Janusnet (Australia). and others.
Frequently Asked Questions (FAQ) :
The data classification market is expected to reach a signficant market value of USD 1.5 billion by 2023.
The global data classification market is maturing at a whopping 22.8% CAGR over the review period of 2017 to 2023.
A few significant players of the global data classification market are Cisco Systems Inc., IBM Corporation, Amazon Web Services, Microsoft Corporation, Dell Technologies, among others.
The service segment is expected to drive market growth over the review period.
The user-based segment is likely to witness the highest demand in the data classification market.