Data Protection Market Size

Data Protection Market size is poised to cross USD 1.6 trillion by the end of 2035, expanding around 17% CAGR during the forecast period i.e., 2023 – 2035. In the year 2022, the industry size of data protection was USD 120 billion. The growth of this market can be attributed to the increasing generation of data produced by various industries such as BFSI, retail, IT & telecom, manufacturing, and others. This large amount of data generated from the industries demand for a system that can monitor, manage, and protect this data from attackers. This as a result is predicted to drive the growth of the market in the future times. Every second, new data is produced at a rate of almost 1.7 megabytes. Organizations must continue to secure sensitive personal information in addition to their customers' sensitive personal information.

In addition to this, escalating concern towards cyber security, concern over data protection, and safeguarding from malware, ransomware, and other viruses is expected to boost the market growth in the estimated period. Moreover, increasing focus on cyber security by government and businesses along with an escalating focus on data protection is further anticipated to positively influence the market growth.