According to a market research report "Data Classification Market by Component (Solutions (Standalone and Integrated) and Services), Application (Access Control, GRC, Web, Mobile & Email Protection, and Centralized Management), Methodology, Vertical, and Region - Global Forecast to 2023", The global data classification market size is expected to grow from USD 536 million in 2018 to USD 1,661 million by 2023, at a Compound Annual Growth Rate (CAGR) of 25.4% during the forecast period.Major factors fueling the market growth include regulatory compliance, growth in uncontrolled data volumes, and increased security risks.

Increasing adoption of data classification solutions in data security applications could provide growth opportunities for vendors in the market.Browse and in-depth TOC on “Data Classification Market” 70 - Tables52 - Figures174 - Pages Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=603338North America to hold the largest market size during the forecast periodNorth America is the major revenue generating region in the global data classification market.

Many security solution providers in North America are experimenting in the data classification space by either integrating data classification functionalities with their existing data security solutions, such as DLP and data discovery, are building standalone capabilities.

They are adopting various growth strategies to strengthen their position in the data classification market.BFSI vertical to hold the largest market size during the forecast periodThe BFSI vertical is leading in the adoption of the data classification solutions and services, due to the nature of the data, such as Personally Identifiable Information (PII), Personal Credit Card Information (PCI), intellectual property (IP) related financial systems, authentication and access control information, and company financial information.

BFSI companies have to protect personal data to abide by stringent data privacy rules.

Integrated solution providers form partnerships with other standalone solution vendors to integrate data classification capabilities as a part of their wider data security product offering.Speak To Analyst@ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=603338Major vendors in the global data classification market 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).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.