The digital risk protection platform market is expected to thrive at a CAGR of 10.1% between 2023 and 2033. The market is expected to cross a market share of US$ 2,748.55 million by 2033 while it is likely to be valued at US$ 1,050.5 million in 2023.
- Established businesses going online, increasing online banking services and payments, and storage of intellectual property are flourishing the demand for services.
- Governments building stringent norms to eliminate cyber threats and promoting enhanced security solutions are expected to garner growth for the market.
- Growing e-commerce businesses increasing phishing and other attacks. This is fueling the demand for digital security platforms.
- New security properties delivered by vendors like secured cloud storage, advanced threat protection, and email protection are fueling the demand for digital risk protection solutions.
- Advanced SOCRadar digital risk protection platform is applied across the industry verticals, which acts as digital risk protection further fuels the market growth.
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Key Points
- The United States market is likely to lead the digital risk protection platform market in terms of market share and CAGR in North America. The market is expected to thrive at a leading CAGR of 7.2% between 2023 and 2033. The market growth is attributed to the rapidly growing e-commerce and outsourcing businesses. The regional market is likely to cross a value of US$ 493.84 million by 2033.
- China is another significant digital risk protection platform market. The regional growth is attributed to the increase in businesses across the region that are going online. The regional market is anticipated to record a CAGR of 10.6% during the forecast period while it is expected to hold a value of US$ 290.03 million by 2033.
- The large enterprise segment is likely to register in the enterprise size category at a CAGR of 9.3% during the forecast period. The growth is attributed to factors like increased investment and high data compilation.
- The integrated digital risk protection platform is expected to top the solutions type category as it is expected to develop a CAGR of 10.7% between 2023 and 2033.
Competitive Landscape
The key vendors focus on adding more layers to data security by delivering operation-specific data risk solutions and rapid technological advancements such as the integration of artificial intelligence, the Internet of Things (IoT), and machine learning.
Key competitors also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the market include Proofpoint, Digital Shadows Ltd, FireEye, LookingGlass Cyber Solutions, RSA Security LLC, PhishLabs, Axur, Blueliv, CYBERSPRINT, Safeguard Cyber, and RiskIQ
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Recent Market Developments
- Looking Glass Cyber Solutions has introduced its digital risk protection services such as scoutPRIME, scoutTHREAT, and scoutINSPECT platforms that monitor, model, mitigate, and manage the organization’s workflow while detecting each threat and preventing it through the latest technology. The company delivers to the energy sector, defense industrial bases, and government/public sector
- RSA Security LLC has introduced its platform for saving healthcare identity through its epic hyperdrive. The integration works along with the electronic health record (EHR).
Key Segments
Digital Risk Protection Platform Market by Solution:
- Integrated Digital Risk Protection Platforms
- Cloud Platforms
- On-premise Platforms
- Digital Risk Protection Services
- Integration & Implementation
- Digital Risk Consulting & Advisory
- Support & Maintenance
Digital Risk Protection Platform Market by Enterprise Size:
- Digital Risk Protection Platforms for SMEs
- Digital Risk Protection Platforms for Large Enterprises
Digital Risk Protection Platform Market by Industry:
- Digital Risk Protection Platforms in IT & Telecom
- Digital Risk Protection Platforms in BFSI
- Digital Risk Protection Platforms in Automotive
- Digital Risk Protection Platforms in Healthcare
- Digital Risk Protection Platforms in Manufacturing
- Digital Risk Protection Platforms in Government
- Digital Risk Protection Platforms in Education
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- The Middle East & Africa (MEA)
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