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  • Data Classification Market Business Trends, Regional Study, Size, Share, Industry Profit Growth 2023

    (I-SoftwareNews.Com, November 12, 2021 ) MarketsandMarkets expects the global data classification market to grow from USD 536 million in 2018 to USD 1,661 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 25.4% during forecast period. Regulatory compliance, growth in uncontrolled data volumes, and increased security risks are expected to drive the data classification market.

    Data classification refers to the process of sorting and categorizing data into different distinct classes. Data classification enables the separation and classification of data according to data set requirements for various business and individual objectives.

    Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=603338

    Data classification involves tagging data with the ease of searchability and tractability. It also eliminates multiple duplications of data, which can reduce storage and backup costs while speeding up the search process. Though the classification process may sound highly technical, it is a topic that should be understood by an organization’s leadership.

    Major vendors of data classification include IBM (US), Google (US), Microsoft (US), AWS (US), Symantec (US), OpenText (Canada), Covata (Australia), Boldon James (England), Varonis (US), Innovative Routines International (IRI), Informatica (US), Dataguise (US), Spirion (US), Digital Guardian (US), Titus (Canada), Netwrix Corporation (US), PKWARE (US), GTB Technologies (US), Forcepoint (US), Sienna Group (US), MinerEye (Israel), SoftWorks AI (US), Expert TechSource (India), Clearswift (UK), Seclore (US), and Janusnet (Australia). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global data classification market. Key players have adopted partnerships and new product launches strategies majorly from 2016 to 2018, which helped them to innovate on their offerings and broaden their customer base.

    IBM is a leader in delivering efficient data classification solutions to various industry verticals. IBM’s solutions use Watson’s capability for various applications. The company is focusing on scaling its platforms, delivering productivity through automation, infusing AI into its offerings, and investing to expand its cloud infrastructure. The company uses organic and inorganic growth strategies to improve its market share and increase the annual revenue. As a part of its organic growth strategies, IBM introduced PowerAI, a deep learning software designed to address the challenges faced by data scientists and developers, in May 2017. It simplifies the development experience with tools and data preparation while reducing the time required for AI system training from weeks to hours.

    Get More Info @ https://www.marketsandmarkets.com/Market-Reports/data-classification-market-603338.html

    Google is also one of the leaders in the data classification space by providing solutions to the various industry verticals globally. The company relies heavily on its organic growth strategy and continuously aims for innovative next-gen products. The company is making significant Research and Development (R&D) investments in areas of strategic focus such as advertising, cloud, machine learning, and search, as well as in innovative products and services. The company is adopting an organic growth strategy to gain a competitive edge in the data classification market. For instance, in November 2018, Google updated its Data Loss Prevention (DLP) API, a tool helps users better understand and manage sensitive data. Google added new manipulation techniques in the tool, which include redaction, masking, and tokenization. The DLP API provides programmatic access to a powerful, sensitive data inspection, classification, and de-identification platform.

    About MarketsandMarkets™

    MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

    Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

    MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

    Contact:

    Mr. Aashish Mehra

    MarketsandMarkets™ INC.

    630 Dundee Road

    Suite 430

    Northbrook, IL 60062

    USA: 1-888-600-6441

    Email: sales@marketsandmarkets.com

    MarketsandMarkets™

    Mr. Aashish Mehra

    1-888-600-6441

    raviraj.tak@marketsandmarkets.com

    Source: EmailWire.Com

    Source: EmailWire.com

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