New York, March 2022: Axiom Market Research & Consulting™ added a report on Sensitive data discovery market which includes study on product, scar type, end user, and geography. Sensitive data discovery market was projected to grow at a CAGR of 16.05% for the forecast period 2022 to 2028. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the Sensitive data discovery- market.

Sensitive data discovery is the process of identifying and locating sensitive data. Sensitive or confidential data can be present in structured or unstructured format and on cross platforms. The leaks of sensitive data can lead to large monetary fines as well as loss of trust with the customer. The growing concern of customers in the IT and Telecom, BFSI and educational sector to safeguard their sensitive data from data breaches and leaks is creating a demand in the market. Due to rise in internet user and growth of online E-commerce platform as well as mobile banking services new data is being generated everyday hence it has become very essential to safeguard this data..

The report analyses the global Sensitive Data Discovery market is segmented based on Type, Applications, End Users and Geography. By Type, the market is segmented into On-premise and Cloud based. Based on Applications, the market is classified into Asset Management, Security and Risk Management, Compliance Management and Others. By End Users, the market is segmented into BFSI, Healthcare, IT & Telecom, Education and Others. The Global Sensitive Data Discovery Market is studied across various key countries of regions such as, North America, Europe, Asia Pacific and Rest of the World. 

Cloud based market is expected to lead the Sensitive data discovery market

A cloud based sensitive data is a data which is stored on a cloud-based platform. Cloud based data can give access to many people at the same time hence it is useful for cross-company collaboration. There was growing adoption of cloud-based technology during the covid-19 as there was rise in WFH and online learning. 

Asset Management market is likely to lead the Sensitive data discovery market

Asset management is the process of identifying and securing on a real time basis the assets which a company/organization owns is highly sensitive and companies rely on platforms that can safeguard this data. Lack of asset management or poor implementation is critical and risky for a business. Security and risk management are the most crucial and important application of Sensitive Data Discovery. Most of the companies stick with on premise application and storage when it comes to securing data. 

BFSI is likely to dominate the Sensitive data discovery market

The global BFSI industry is experiencing fast and steady growth over the last couple of years. The industry is also experiencing a drastic technological change from the last decade. Digital transformation in the BFSI sector is going at full speed. Most of the banks are moving their data to cloud storage the digitalization and advancement in the BFSI sector will create rising demand for safe and efficient Sensitive Data Discovery platform all across the world.

North America is expected to lead the Sensitive data discovery market

For Sensitive Data Discovery  market, North America region is considered to be the dominating region owing to the various factors which mainly includes presence of a great number of companies in this region which are actively working in the field of Information Technology, also with technological advancement this region is highly investing in the cloud computing and artificial intelligence. In this region, U.S. is known to be the leading country owing to the huge investment in the AI, cloud computing, machine learning etc.

Key Players

The key players in the Sensitive data discovery market are IBM Corporation, Microsoft Corporation, Oracle Corporation, Amazon Web Services, Google, LLC, Hitachi Ltd., Solar Winds Corporation, Thales Group S.A., Micro Focus International PLC, Proof point, Inc, Netwrix Corporation, BigID, Ground Labs, Dathena, DataGrail among others.   

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