Netskope releases new data loss prevention solution

Today, Security Service Edge (SSE) provider NetSkope announced the launch of a new endpoint data loss prevention (DLP) solution that will provide data protection for endpoints and private apps. 

The new solution is designed to expand the Netskope Intelligent SSE platform, to protect data within SaaS, IaaS, private applications,websites, emails, and endpoint devices. 

It does this by using machine learning-driven data classification to automatically identify where private data is stored, and then using policy enforcement and incident management to secure it.

Protecting critical data 

The announcement comes as more organizations are concerned over protecting data in hybrid cloud environments, with 4 out of 10 business leaders rating the risk of an attempted data breach in the next 12 months as a 4 or 5 on a 5-point risk scale. 

“Protecting company data – often sensitive and proprietary – in today’s environment is extremely challenging, especially without adding additional friction and rules that inhibit productivity. Hybrid work, for example, has brought EDLP concerns to the top of the agenda but legacy offerings are often siloed, complicated and cumbersome,” said Vice President of Product Marketing at Netskope, Naveen Palavalli.

Netskope’s new DLP tool is designed to make it easier for users to protect data whether it’s located on-premises or in the cloud, so there’s less chance of data breaches and unwanted intrusions. 

The global data loss prevention market 

The organization is competing against a range of other legacy and endpoint DLP providers, as analysts estimate the global data loss prevention market will grow from a value of $1,497.81 million in 2021 to a value of $5,058.98 million by 2027. 

One of the main DLP providers in the market is Forcepoint, a 9-time Gartner Magic Quadrant Leader for DLP, that offers converged network, endpoint, and cloud app coverage alongside behavioral analytics and risk-based policy enforcement. According to Zippia, Forcepoint generates annual revenue of $680.6 million. 

Another key competitor is Broadcom, with Symantec Data Loss Prevention, which can monitor and protect data stored in laptops, mobile devices, file shares, databases, and cloud apps. Broadcom recently announced raising $7,706 million in revenue in the first quarter of 2022.

However, Palavalli argues that Netskope’s ability to provide unified data protection from cloud and web to endpoint devices “solidifies Netskope as the only vendor that can provide truly converged and cloud-powered data protection across the Hybrid IT environment.” 

Originally appeared on: TheSpuzz