Cloud DLP Solution Market Trends

Growth Drivers

• Increasing Use of Software as a Service (SaaS) - It was found that over 90% of the organizations globally used one or more SaaS solutions in 2021.
  
  The rising demand for SaaS is driving the market for cloud data loss prevention solutions. Software as a service (SaaS) is a service that enables users to make connections to cloud-based apps over the internet. Some of the different types of these devices are office tools, calendaring, email, and others. Cloud DLP provides visibility and protection for sensitive data in SaaS and other applications.

• Growing Amount of Data over Cloud - According to estimates, by the end of 2021, around 2.5 quintillion bytes of data was produced every day around the world.

• Rising Number of Internet of Things (IoT) Connected Devices – According to recent data, about 18 billion devices are estimated to be connected to IoT worldwide by 2022.

• Increasing Penetration of the Internet - It was observed that, by the first quarter of 2022, around 63% of the global population used the internet around the globe.

• Growing Instances of Cyber Attacks - For instance, more than 5 million distributed denial-of-service (DDoS) attacks were recorded in 2021 worldwide.

Challenges

• Challenge of Complex Configuration and Management – As data classification procedure is the most critical and difficult stage of a DLP system. Manual classification of this process is lengthy and prone to human errors while automating may result in misclassifying sensitive data. Well-configured DLP solutions require regular maintenance and time-consuming adjustments.

• Lack of Stringent Data Protection and Privacy Policy

• Possibility of Failure in Interpreting Encrypted Traffic