Users are tired of hearing about data breaches that put their sensitive information at risk. Reports show that cybercriminals stole 6.41 million records in the first quarter of 2023 alone. From medical data to passwords and even DNA information, hackers have stolen a lot of sensitive information in 2023.
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The global sensitive data discovery market is projected to grow from USD 5.1 billion in 2020 to USD 12.4 billion by 2026, recording a CAGR of 16.1% during the forecast period.
Various factors such as the growing need to discover sensitive structured and unstructured data, increasing investments in data privacy with evolving regulations, growing adoption of cloud-based sensitive data discovery solutions to improve security compliance and governance within data and the growing importance of data utilization during COVID-19 scenario among organizations are expected to drive the adoption of the sensitive data discovery market. The objective of the report is to define, describe, and forecast the sensitive data discovery market size based on component, organization size, deployment mode, application, vertical, and region.