Market Research Future Insights
According to MRFR analysis, the global Big Data Security Market is expected to register a CAGR of 17.10% from 2020 to 2030 and hold a value of over USD 52.16 billion by 2030.
Big Data is a huge collection of business data that are complex and highly problematic to be interpreted by humans. However, the analytic trend permits the company to make more data-driven decisions in the current way of business. Emerging commercial occasions can be achieved when deep insights into factors like marketing, product development, and pricing are carried out. Hence even small and medium-based industrial segments are taking the help of data analytic managers, data scientists, and big data solution architects. The COVID-19 Epidemic has blocked down the fast-paced processes of some industries. Hence the industrial sectors have implemented the new practice of working remotely. The increasing trend of working from home, internet penetration, and the increasing trend of BYOD has augmented the demand for the Big Data Security market demand.
Big Data Security Market Report Scope:
Parameter | Details |
Revenue Forecast in 2030: | USD 35.71 Billion |
Growth Rate: | CAGR of 17.10% from 2020 to 2030 |
Forecast Period: | 2020 -2030 |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Regional Analysis
North America dominates the big data security market because of the early acceptance of technologies and high penetration of security solutions within the region over the forecast period. Moreover, the rush in enhanced security measures is further projected to accelerate the expansion over the forecast period.
Asia-Pacific is projected to witness substantial growth during the forecast period. owing to the factors such as high digital connectivity, cybersecurity awareness, and augmented data transfer across borders within the region
Market Segmentation
The Global Big Data Security Market has been segmented into Solution, Deployment, Organization size, and Industry Vertical
Based on the solution, The Global Big Data Security market is segmented into data discovery & classification, data authorization & access, data encryption, tokenization & masking, data auditing & monitoring, data governance & compliance, data security analytics, and data backup & recovery. The data security analytics segment was the highest contributor to the market and is projected to grow at a CAGR of 14.2% during the forecast period. Security analytics provide a timely resolution matrix and low untrue positives that allow analysts to identify threats and react to security breaches, further pouring the market growth.
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Based on deployment, The Global Big Data Security Market has been segmented into on-premise and cloud. The on-premise segment was the highest contributor to the market and is projected to grow at a CAGR of 18% during the forecast period. The IT team is responsible for ensuring the obtainability of services at all times and disaster recovery operations.
Based on organization size, The Global Big Data Security Market has been segmented into small & medium enterprises and large enterprises. The same segment was the highest contributor to the market and is projected to grow at a CAGR of 18.5% during the forecast period. Augmented cyber-attacks on data and a surge in hacks are the key drivers driving SMEs’ growth of extensive data security.
Based on industry verticals, The Global Big Data Security Market has been segmented into IT & ITES, telecommunications, Healthcare and Social Assistance, Financial & Insurance, retail trade, utilities, and others. The economic and Insurance segment was the highest contributor to the market and is estimated to grow at a CAGR of 15.7% during the estimated period. Finance and Insurance have very confidential data, so they need big data security solutions to avert attacks from hackers and cybercriminals.
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Key Players
Some of the key market players are Symantec Corporation, Fortinet, Check Point Software Technologies Ltd., IBM, Hewlett Packard Enterprise (HPE), Proofpoint Inc., FireEye Inc., and Rapid7 Inc.
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