Data Classification Market Size To Reach $11.30 Billion By 2030

Data Classification Market Growth & Trends

The global data classification market size is anticipated to reach USD 11.30 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 35.1% from 2024 to 2030. Increasing stringency on regulatory compliance, generation of large data volume, and the introduction of big data and machine learning technology are some of the major growth drivers for the market. Moreover, the data-driven decision-making for sales, rising product launch, and increasing number of enterprises are some of the factors providing impetus to the growth.

Data classification offered as a standalone and integrated solution is changing the way the information is generated, stored, and processed. The homogeneously tagged information with industry defined classification is vital in generating actionable insights. Hence, enterprises are inclined to opt for integrated data security platform for data classification as well as protection. Moreover, repercussion of non-compliance can lead to huge financial and reputational losses. Hence, the adoption of data classification solution is vital to address the data security concerns of the organizations as it classifies the information based on the nature of content.

Data classification solution is anticipated to witness high adoption across major developed countries such as U.S., Canada, Germany, and Japan. The developed countries emphasize on adopting emerging technologies and automation solution to reduce error and to improve production. Vendors in the data classification market offer product upgrades and adopting expansion strategies to strengthen their foothold in the market. This is anticipated to intensity the competition among existing and emerging market players in near future.

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Data Classification Market Report Highlights

• The solutions segment held the largest market revenue share of 68.5% in 2023. Organizations increasingly recognize the importance of efficiently managing and securing their data amid rising cyber threats and stringent data protection regulations.

• The content-based classification segment is expected to grow at the fastest CAGR over the forecast period.

• Web, mobile & email protection segment is anticipated to register the fastest CAGR over the forecast period. The increasing frequency and sophistication of cyber threats drive the segment growth.

• North America data classification market held the largest market revenue share of 32.8% in 2023. The surge in cyber threats and data breaches has heightened the need for robust data security strategies.

Data Classification Market Segmentation

Grand View Research has segmented the global data classification market on the basis of component, classification, application, vertical, and region:

Data Classification Component Outlook (Revenue, USD Million, 2018 - 2030)

• Solution

• Services

Data Classification Outlook (Revenue, USD Million, 2018 - 2030)

• Content-Based Classification

• Context-Based Classification

• User-Based Classification

Data Classification Application Outlook (Revenue, USD Million, 2018 - 2030)

• GRC

• Access Control

• Web, Mobile & Email Protection

• Centralized Management

Data Classification Vertical Outlook (Revenue, USD Million, 2018 – 2030)

• BFSI

• Defense and Government 

• Healthcare and Life Sciences

• Telecom

• Education

• Media and Entertainment

• Others

Data Classification Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

• Asia Pacific

  • China

  • Japan

  • India

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • UAE

  • Saudi Arabia

  • South Africa

List Of Key Players in the Data Classification Market

• Amazon Web Services, Inc

• Fortra, LLC (formerly known as Boldon James)

• Crunchbase Inc.

• Alphabet Inc.

• IBM

• Innovative Routines International (IRI), Inc.

• Microsoft

• Broadcom (Symantec Corporation)

• Varonis