Data Classification Market 2021 Size, Upcoming Growth by Prospective Developments, Future Trends, Investment Opportunities, Progress Insight, Business Tactics and Forecast Till 2030

In a recent published report, Kenneth Research has updated the market report for Data Classification Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Data Classification Market products.

Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.

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Market Synopsis

The 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 Final Report will cover the impact analysis of COVID-19 on this industry:.

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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.

Segmentation

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.

Regional analysis

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.

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Global Data Classification Market, USD Million

Source: MRFR Analysis

Key Players

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.

Intended Audience

Computing vendors

System integrators

Consultancy and advisory firms

Data integration service providers

Managed service providers

Government Agencies

Network Solution Providers

Independent Software Vendors

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Consulting Firms

System Integrators

Research Institutes and Organizations

Technology Standards Organizations

Application Developers

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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