The vendors providing data classification solutions provide an integrated 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 process of sorting, organizing and managing the different data sets on the basis of file properties, structures, and demographics for effective and efficient use in enterprises is termed as data classification. Data classification solutions make it easy for any system to easily categorize, find and retrieve data. 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.
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According to Market Research Future, 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. Among the solutions, integrated solutions dominated the data classification market over standalone solutions. Integrated solutions provide the freedom to integrate these solutions with the existing data processing and analytics solutions. This helps the enterprises to reduce the cost of deployment and software maintenance.
By type, the market is segmented into context-based, content-based, and user-based. Context based data classification dominated the market by type owing to the freedom of classifying data based on the functionalities. By application, the market is segmented into access control, GRC, web, mobile & e-mail protection, and centralized management. Data access control dominates the data classification market based on application. However, due to high demand of mobile and e-mail protection, it is expected to be growing with the highest growth rate during the forecast period. Moreover, as the nature of data varies at each processing level, the banking and financial service sector has the wide adoption of data classification solution. The data gathered by the public information, credit information, and transaction of records have encouraged the BFSI vendors to follow strict government and data privacy regulations. It also enables the companies to prioritize sensitive data in case of any mis consent.
By region, the data classification market is segmented into North America, Europe, Asia-Pacific, and rest of the world.
The data classification market 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). The market is dominated by North America 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.
On the other hand, Europe closely follows North America and is estimated to be the second largest region by revenue by 2023. Asia-Pacific is expected to be the highest fastest growing region with highest CAGR during the forecast period since due to growth in the semiconductor industry, and digital infrastructure. The BFSI and IT sector in Asia-Pacific is growing at a rapid pace and countries such as India, and Japan are expected to be among the top IT regions by 2025.
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.