According to a new report, published by KBV research, The Global Data Classification Market size is expected to reach $12 billion by 2031, rising at a market growth of 34.3% CAGR during the forecast period.
The Solution segment is generating the highest revenue in the Global Data Classification Market by Component in 2023; thereby, achieving a market value of $7.7 billion by 2031. Solutions that classify data help organizations secure sensitive and confidential information by ensuring it is properly categorized and protected according to its classification level.
The GRC segment is registering a CAGR of 33.4 % during the forecast period. GRC solutions provide tools for identifying and assessing data classification and handling risks. This proactive approach helps organizations anticipate and mitigate potential risks before they escalate. By integrating risk management with data classification processes, GRC solutions ensure that data is classified and protected based on risk levels, improving overall data security and resilience.
The User-Based Classification segment led the Global Data Classification Market by Classification in 2023; thereby, achieving a market value of $4.9 billion by 2031. User-based classification allows for categorizing data based on individual user roles, responsibilities, and access levels. This ensures that data is classified and managed to align with specific user needs and organizational requirements.
The BFSI segment is growing at a CAGR of 32.8 % during the forecast period. The BFSI sector handles highly sensitive and confidential data, including personal identification information (PII), financial records, transaction details, and proprietary business information. Data classification is crucial for identifying and protecting this sensitive data.
Full Report: https://www.kbvresearch.com/data-classification-market/
The North America region dominated the Global Data Classification Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3.9 billion by 2031. The Europe region is anticipated to grow at a CAGR of 33.9% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 35% during (2024 - 2031).
By Component
By Application
By Classification
By Vertical
Unique Offerings 
