Data Classification Market Size to Surpass USD 14.57 Billion by 2032 | SNS Insider

The Data Classification Market, valued at USD 1.65 Bn in 2023, is expected to reach USD 14.57 Bn by 2032, growing at a 27.40% CAGR from 2024 to 2032. AUSTIN, TX, UNITED STATES, February 25, 2025 /EINPresswire.com/ -- The Data Classification Market size was USD 1.65 Billion in 2023 and is expected to reach USD 14.57 Billion by 2032, growing at a CAGR of 27.40% over the forecast period of 2024-2032.

The need for efficient data management, compliance, and security is driving the rapid adoption of data classification solutions across industries.

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Some of Major Keyplayers:

- Microsoft (Azure Information Protection, Microsoft Purview Information Protection)
- Amazon Web Services (AWS) (Amazon Macie, AWS Glue Data Catalog)
- Symantec (Data Loss Prevention, Information Centric Tagging)
- OpenText (Data Classification, File Intelligence)
- Fortra (formerly known as Boldon James) (Data Classification Suite, Policy Manager)
- Covata (CipherPoint Eclipse, Safe Share)
- Varonis (Data Classification Engine, Data Security Platform)
- Innovative Routines International (IRI), Inc. (FieldShield, DarkShield)
- MinerEye (Data Tracker, Data Discovery and Classification)
- PKWARE, Inc. (Smartcrypt, Data Redaction)
- Informatica (Axon Data Governance, Secure@Source)
- Dataguise (DgSecure, DgDiscover)
- Spirion (Data Platform, Sensitive Data Manager)
- Clearswift (Adaptive DLP, Secure Email Gateway)
- Seclore (Data Classification, Rights Management)
- Digital Guardian (Data Classification Module, Endpoint DLP)
- Titus (Titus Classification Suite, Titus Illuminate)
- Netwrix Corporation (Data Classification, Auditor)
- GTB Technologies, Inc. (Data Security Platform, Inspector)
- Forcepoint (Data Loss Prevention, Dynamic Data Protection)
- Sienna Group, LLC (Data Classification Services, Data Discovery Solutions)
- Softworks AI (Trapeze for Classification, Trapeze for Redaction)
- Expert Techsource (Data Classification Solutions, Information Security Services)
- Janusnet (Janusseal, Janusgate)

By Component, Solution Segment Dominates, Services to Grow Fastest in Data Classification Market

In 2023, the Solution segment was the leading revenue contributor to the market, accounting for 69% of the market share owing to an increase in demand for automated classification tools that efficiently process large volumes of data. The use of pre-integrated, production-ready solutions is rising due to their scalability, accuracy, and efficiency. The Services segment is projected to witness the fastest growth at a CAGR of 29.23% over the forecast period from 2024-2032, as organizations are turning to expert consultation to deploy, integrate , and manage these classification solutions. In this evolving market, consulting, training, and managed services are also gaining traction as data management grows in complexity and the need for tailored assistance surfaces.

By Classification, User-Based Classification Dominates the Market, while Content-Based to Grow Rapidly in the forecast period.

In 2023, the largest revenue share of 44% in the market was held by the User-Based Classification segment due to its implementation in sectors that require stringent data security. This approach allows for secure data management by providing access according to user roles. On the other hand, the Content-Based Classification segment is anticipated to witness a Nuclear of 28.93% due to organizations becoming more reliant on automated tools to manage unstructured data effectively. Rising amounts of email, documents, and multimedia data are driving demand for content-aware classification that companies can exploit for security, compliance, and retrieval as we rapidly digitize everything.

By Application, GRC Segment Dominates the Market, Web & Email Protection to See Fastest Growth

The Governance, Risk, and Compliance (GRC) segment accounted for 35% of the total market share in 2023, attributed to the growing demand for regulatory compliance. Business Data Protection: Enter 2023 where companies need to make sure to have data protection according to the strict regulations. The Web, Mobile & Email Protection segment is expected to register the fastest CAGR of 29.57% during the forecast period, owing to organizations increasing the security of digital communication channels. Increasing cyber threats and data breaches are compelling organizations to implement strong classification solutions to enable secure data exchange between web, mobile, and email platforms while adhering to changing regulatory frameworks.

By Vertical, BFSI Sector Dominates, IT & Telecom to Grow Fastest in the forecast period

In 2023, the BFSI industry held the largest, 30% data classification market revenue share, due to high security, privacy, and regulatory compliance requirements. Since financial institutions have sensitive data in large amounts to be processed, they need a well-structured classification solution. The IT & Telecom sector is also expected to grow in terms of the Fastest CAGR of 30.50% as data continues to get generated and cloud work is widely accepted. This need is further amplified as digital transformation accelerates, and organizations in this space are making data classification a priority for bolstering security, improving operations, and meeting new data protection regulations.

Data Classification Market Segmentation:

By Component
- Solution
- Services

By Classification
- Content-Based Classification
- Context-Based Classification
- User-Based Classification

By Application
- GRC
- Access Control
- Web, Mobile & Email Protection
- Centralized Management

By Vertical
- BFSI
- Healthcare
- Government & Defence
- IT & Telecom
- Energy & Utilities
- Other Industry Verticals

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North America Dominates Data Classification Market, Asia Pacific Poised for Fastest Growth

North America accounted for the largest revenue share of 37% in 2023 in the Data Classification Market, driven by the presence of major technology company players and stringent data protection legislations such as GDPR & CCPA. The region's overwhelming adoption of AI-based classification solutions is further cemented by the advancement of cloud computing, On the other hand, Asia Pacific is expected to grow at the highest CAGR of 30.39% in the 2024-2032 range, driven by rapid digitalization in the areas of health care, finance, and manufacturing. The growing volume of data, escalating cybersecurity threats, and evolving regulatory landscape are propelling the demand for data classification solutions in the region.

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