The data exfiltration services market is projected to grow from US$ 66.5 Bn in 2020 to US$ 145.1 Bn by 2031, at an expected CAGR of 23.7% during the forecast period 2021-2031. Data is becoming valuable currency day by day. There are sensitive information about the business, its employees, customers, and clients hold by organizations across industries. Due to rapid increase in the volume of data, companies are becoming susceptible to data exfiltration.
The movement of sensitive data from inside the organization to outside without authorization, is indicated by data exfiltration. This process can be carried out deliberately or accidentally through malware over a network. There are various techniques performed by cyber criminals for data exfiltration. It can be difficult to detect data exfiltration as the transfer or moving of data within and outside a company’s network is involved.
Due to increase in the number of smartphone users, enterprises are adopting data exfiltration solutions for the protection of sensitive information. Small and Medium-size enterprises (SMEs) are targeted by internal and external data breaches. The growing need for such security will drive the growth of data exfiltration.
What is Driving Demand for Data Exfiltration?
Misuse of internet, online malwares, surge in the incidents of data loss in the on premise environment and growing refinement levels of data breaches are some of the major factors, contributing to the growth of data exfiltration solution. There is also a rise in sophisticated cyber threats for critical information theft, which in return going to help the data exfiltration market to grow in the forecast period.
There is an increase in adoption of cloud-based cyber security solutions, this too will drive the growth of data exfiltration globally. Also, cybersecurity solutions are adopted by highly regulated organizations, this anticipated to create the major opportunities for the data exfiltration market.
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What are the Key Trends for Data Exfiltration?
Most of the small and medium-sized enterprises (SMEs), are focusing on the protection of sensitive information. More security products are purchased by these enterprises and a good amount of money is also invested in the security training of employees. Such trend is fueling the growth of data exfiltration market globally.
For an instance, a security training was done by Barracuda Network for its employees. The agenda of the training was to understand the subtle clues, latest security attacks, prevent email fraud and data loss through continuous stimulation. Companies asked their employees to work from home due to Covid-19 pandemic, which encouraged cybercriminals to take advantage of the situation. This is one of the major factor, enterprises are continuously moving towards the adoption of data exfiltration solution.
Europe Demand Outlook for Data Exfiltration
The Europe region is going to hold a significant share of the data exfiltration market from 2020 to 2031 due to the rapid adoption of cloud-based cyber security by IT & Telecom industries. Various industries are adopting data exfiltration solutions as there is an increase in the number of smartphone users in the region.
Most of the SMEs are adopting data exfiltration solutions at a great rate in the region for protection of sensitive information. Due to this factor, the demand for data exfiltration will continue to grow in the Europe region.
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East Asia Demand Outlook for Data Exfiltration
East Asia is going to witness the highest growth during the forecast period 2021-31 as the highest number of breaches is reported in the region by Grand Theft Data, McAfee.
Growing economy countries Japan and China are implementing the data exfiltration technology as the companies in the region are experiencing data loss across a wide range of formats, content, and methods ranging from documents to databases, this too will contribute to the growth of the market in the East Asia region.
SMEs are facing malware-based and DNS data exfiltration and due to this, they are continuously deploying data exfiltration solutions. This is one of the major factor fueling the market growth.
Who are the Key Data Exfiltration Vendors?
Some of the leading vendors of data exfiltration include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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