Global Digital Risk Protection Market Size, Share & Trends Analysis Report By Offering, By Organization Size (Large Enterprises, and SMES), By Deployment Mode (Cloud, and On-premise), By Vertical, By Type. By Regional Outlook and Forecast, 2023 - 2030

Global Digital Risk Protection Market Size, Share & Trends Analysis Report By Offering, By Organization Size (Large Enterprises, and SMES), By Deployment Mode (Cloud, and On-premise), By Vertical, By Type. By Regional Outlook and Forecast, 2023 - 2030

The Global Digital Risk Protection Market size is expected to reach $224.2 billion by 2030, rising at a market growth of 19.5% CAGR during the forecast period.

The retail and eCommerce sectors are undergoing rapid digital transformation, with businesses increasingly adopting online channels to engage with customers, sell products, and deliver services. Consequently, the retail and eCommerce segment by vertical would generate approximately 12.7% revenue share of the market by 2030. This shift towards digital commerce creates new opportunities for cybercriminals to target retailers’ digital assets, including customer data, payment systems, and online platforms.

The major strategies followed by the market participants are Mergers & Acquisitions as the key developmental strategy to keep pace with the changing demands of end users. For instance, In March 2024, Cisco Systems Inc. took over Splunk Inc., an American software development company. Through this acquisition of Splunk, Cisco will forge a distinctive array of solutions tailored for networking, security, and operations executives within the market. In December 2023, Proofpoint, Inc. completed the acquisition of Tessian Limited, an AI-based email threat detection company. Through this acquisition, Tessian will further improve Proofpoint's threat and information protection platforms by integrating powerful layers of AI-powered defence that address risky user behaviours, including misdirected email and data exfiltration.

Based on the Analysis presented in the KBV Cardinal matrix; Microsoft Corporation is the forerunner in the Market. In August 2021, Microsoft Corporation inked a definitive agreement to acquire RiskIQ, Inc., a provider of threat intelligence and attack surface management solutions. Under this acquisition, Microsoft will enhance its security portfolio by integrating RiskIQ’s Attack Surface and Threat Intelligence solutions. Additionally, with their combined capabilities, Microsoft and Risk will enable the best protection, investigations, and response against cyber threats. And Companies such as Cisco Systems Inc., Broadcom, Inc., and Fortinet, Inc. are some of the key innovators in the Market.

Market Growth Factors

A vital asset for companies in various industries, including technology, pharmaceuticals, manufacturing, and entertainment, is intellectual property, including trademarks, patents, copyrights, and trade secrets. Therefore, the market is expanding significantly due to the rising number of safeguards for intellectual property and critical assets.

Additionally, Organizations rely heavily on digital infrastructure, including IT systems, networks, and cloud services, to conduct business operations, deliver services, and interact with customers and partners. Thus, because of the operational resilience and business continuity, the market is anticipated to increase significantly.

Market Restraining Factors

Integrating DRP solutions with existing cybersecurity infrastructure can be complex, leading to deployment delays. Organizations often require extensive planning, testing, and configuration to ensure seamless integration with various security tools, platforms, and data sources. Thus, complexity and integration challenges can slow down the growth of the market.

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Mergers & Acquisition.

By Offering Analysis

By offering, the market is bifurcated into solutions and services. In 2022, the solution segment held the 74.3% revenue share in the market. Brand monitoring platforms scan online channels, including social media, e-commerce websites, and search engines, to detect brand abuse, counterfeit products, trademark violations, and unauthorized use of logos or trademarks. By monitoring brand mentions and sentiment analysis, brand protection solutions help organizations protect their brand reputation, maintain consumer trust, and mitigate reputational damage from brand impersonation or abuse.

By Solution Analysis

Based on solution type, the market is classified into brand protection, phishing detection, incident response, app protection, automate threat mitigation, supply chain security, and others. The incident response segment recorded the 28% revenue share in the in 2022. Incident response capabilities are critical for improving organizational resilience and readiness to withstand and recover from security incidents and cyber-attacks. Incident response solutions help organizations develop incident response plans, playbooks, and procedures to guide their response efforts and coordinate their response activities effectively.

By Organization Size Analysis

By organization size, the market is categorized into large enterprises and SMES. The SMES segment recorded a 32.5% revenue share in the market in 2022. Easy-to-deploy, configure, and maintain cybersecurity solutions are critical since SMEs usually have limited technical skills and lean IT teams. Digital risk protection solutions designed for SMEs offer intuitive user interfaces, automated workflows, and cloud-based deployment options, simplifying the implementation and management process for small business owners and IT administrators.

By Deployment Mode Analysis

Based on deployment mode, the market is fragmented into cloud and on-premises. In 2022, the cloud segment led the market by generating 55.9% revenue share. Cloud-based digital risk protection solutions offer rapid deployment and time-to-value, enabling organizations to implement and start deriving value from their investment quickly. With cloud-based solutions, organizations can provision and configure resources within minutes rather than weeks or months required for traditional on-premises deployments.

By Vertical Analysis

On the basis of vertical, the market is segmented into BFSI, IT & ITeS, government, healthcare, retail & eCommerce, media & entertainment, and others. In 2022, the BFSI segment held a 22.3% revenue share in the market. The BFSI segment remains a prime target for cybercriminals due to the high value of financial assets, sensitive customer information, and transactional data stored and processed by banks, financial institutions, and insurance companies.

By Security Type Analysis

On the basis of security type, the market is divided into network security, endpoint security, cloud security, and application security. In 2022, the cloud security segment dominated the market with 35.08% revenue share. DRP tools offer a comprehensive approach to cloud security, helping organizations protect their data, assets, and brand reputation in an increasingly digital and interconnected world. DRP tools help organizations protect their sensitive data by monitoring for unauthorized access or exposure.

By Regional Analysis

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region acquired a 26.91% revenue share in the market. The Asia Pacific region is experiencing rapid digital transformation across various industries, including finance, healthcare, manufacturing, and government. There is a growing awareness of cybersecurity risks and the potential impact of cyber-attacks among organizations, government agencies, and the public in Asia Pacific.

Market Competition and Attributes

The digital risk protection market is fiercely competitive, with established players like Microsoft Corporation, Broadcom, Inc. , and Cisco Systems Inc. innovative startups, all vying to offer cutting-edge solutions that encompass the breadth of digital risks faced by businesses today. This competition is fueled by constant technological advancements, the need for comprehensive protection across various digital channels, the demand for customizable solutions tailored to individual client needs, compliance with stringent regulatory requirements, and the importance of building trust and credibility in the industry

Recent Strategies Deployed in the Market

• Mar-2024: Microsoft Corporation launched the Microsoft Copilot for Security, an AI tool. This product will enable security and IT professionals to move faster and strengthen team expertise with AI. Additionally, with Microsoft Copilot for security, the company will enhance the productivity of security professionals and transform security operations.
• Mar-2024: Cisco Systems Inc. took over Splunk Inc., an American software development company. Through this acquisition of Splunk, Cisco will forge a distinctive array of solutions tailored for networking, security, and operations executives within the market.
• Feb-2024: Palo Alto Networks, Inc. unveiled end-to-end private 5G security solutions and services in partnership with private 5G partners. Palo Alto Networks will offer enterprise-level 5G security and private 5G partner integrations and services, enabling organizations to effortlessly deploy, oversee, and safeguard networks across their entire 5G progression.
• Feb-2024: Rapid7, Inc. launched the Managed Digital Risk Protection (DRP) service for external threat monitoring and remediation that prevents attacks earlier in the threat life cycle. The service can be integrated with Managed Threat Complete, and together, Managed DRP and Managed Threat Complete sit at the intersection of attack surface management (ASM) and detection and response (D&R) to offer 360-degree visibility across the attack surface.
• Dec-2023: Proofpoint, Inc. completed the acquisition of Tessian Limited, an AI-based email threat detection company. Through this acquisition, Tessian will further improve Proofpoint's threat and information protection platforms by integrating powerful layers of AI-powered defense that address risky user behaviors, including misdirected email and data exfiltration.

List of Key Companies Profiled

• Palo Alto Networks, Inc.
• Microsoft Corporation
• Cisco Systems, Inc.
• Trend Micro, Inc.
• Proofpoint, Inc. (Thoma Bravo)
• Fortinet, Inc.
• Broadcom, Inc.
• RSA Security LLC (Symphony Technology Group)
• Rapid7, Inc.
• Kaspersky Lab

Global Digital Risk Protection Market Report Segmentation

By Offering

• Solution
• Incident Response
• Phishing Detection
• Automate Threat Mitigation
• Supply Chain Security
• App Protection
• Brand Protection
• Others
• Services

By Organization Size

• Large Enterprises
• SMES

By Deployment Mode

• Cloud
• On-premise

By Vertical

• IT & ITeS
• BFSI
• Government
• Healthcare
• Retail & eCommerce
• Media & Entertainment
• Others

By Security Type

• Cloud Security
• Network Security
• Endpoint Security
• Application Security

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

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