Big Data Security Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2273
Big Data Security Market size is growing due to the increase in demand for high-security solutions to combat cyber-attacks, rapid growth in the volume of the business data, and change in regulatory compliance. In addition, the growing demand for managed security services, especially in SMEs, is expected to drive the market during the forecast period. The continuous focus of companies on improving their customer services and securing the data will foster the growth. Big data security has become a necessity for all major enterprises as they possess most crucial assets and information about customers, suppliers, and third-parties. Moreover, companies are investing in R&D, especially BFSI and IT & telecom, to develop new security products with enhanced capabilities.
Big data security market consists of encryption, access control, security intelligence, data governance, and data masking software. The security intelligence software has a huge potential and is slated to be one of the fastest growing markets during the timeline as the solution swiftly assesses all the loopholes and vulnerabilities and acts on removing the security threats. The BFSI industry is expected to have the largest share in big data security market among all other industries due to the investment and availability of the huge volume of data. Industries are using big data security for the effective management of digital assets and to streamline the process flow. The market will also see growth in healthcare, retail, and IT & telecom industries due to the involvement of the huge volume of data.
In terms of deployment model, companies are using cloud over on-premise due to the benefits of scalability and reduced operating cost. This approach is adopted by large and small organizations. Another major aspect is that SMEs reap more benefits by emphasizing on improving customer experience and are more likely to have a higher growth rate than large companies.
North America is expected to lead in the big data security market due to the presence of large vendors with a strong customer base. The region is an early adopter of innovative technologies; organizations are witnessing a huge adoption of cloud-based security solutions, fostering the market growth. Asia Pacific is expected to offer significant growth opportunities for the vendors, leading to growth at the highest CAGR during the timeline. The growth in Asia Pacific is due to the rise in cybersecurity attacks in the past three years. Europe is projected to be the second largest revenue generator for big data security market in 2016.
Some of the players present in the big data security market are IBM, Hewlett Packard Enterprise AWS, Pivotal Software, Gemalto, Centrify, Cloudera, Hortonworks, Thales E-security, McAfee, Symantec, Check Point Software Technologies, Fortinet, and Imperva. The continuous technological innovations and investments in new products to reduce malicious attacks are becoming strategies for vendors to gain a competitive edge.
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