Market Trends of Data Classification Industry
This section covers the major market trends shaping the Data Classification Market according to our research experts:
Surge in Data Security Solutions for Increased Malware Infection Rates in Computers
- It’s been a critical concern for a business organization as well as personal computer users about the increase in cyber threats at an alarming rate. As everything is shifting to the world of internet and mobile-based apps, the threat of data vulnerability has also increased in these recent years. Specifically, business organizations are facing tough challenges with respect to their data security and vulnerability, as they many times have to deal with storing, shifting, migrating and outsourcing their user data on open source platforms.
- Organizations in developing economies like China, India, Russia, Brazil, and others are very much open to risks related to data protection and information management. According to the recent publication from Cybersecurity Insiders, China remains at the top in the list of the highest malware infection rates in computers with a 49% infection rate.
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Government Mandate in Developed Nations is Driving the Demand for Data Classification Services
- In countries like the US, UK, Germany, Singapore and some others where the government has regulated the IT environment with data encryption and protection laws, tech firms are finding opportunity areas to promote their data classification services in these markets. Governments in the US and UK have established three-tiered classification schemes for public sector data. Even the government of Washington has gone beyond this range and has established a five-tiered classification scheme, which has well applauded by open data advocates in the region.
- Risk management also, one of the areas where government officials have raised their bar of data integrity and data handling roles. In these countries, it’s always been a concern for the user groups to handle public data depending upon their job roles and authorization, which eventually provide the right space for market development for data classification solutions and services.
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