New York, United States, July 14, 2022 (GLOBE NEWSWIRE) -- Big data analytics is being used by businesses to identify business possibilities, improve performance, and guide decision-making. Customers' buying patterns, the types of products and services they use, and where and how they interact with the organization's offerings are all revealed by extensive customer data analysis. This information could include personally identifiable information about customers.
Factors such as the fast adoption of digital technologies and the growing importance of data-based trend analysis methodologies are expected to drive Big Data Security market expansion during the projected period. Furthermore, the rise in data privacy and security concerns has bolstered the market's foundation. Furthermore, specific improvements in extensive data methodologies are expected to increase the use of big data analytics technology, resulting in a profitable market expansion opportunity.
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Rise in Digitization Trends and Digital Data Production to Drive the Global Big Data Security Market
Digital data creation has increased tremendously in recent decades, and this trend is expected to continue during the projected period. One of the primary elements driving this increase in digital data generation is the increased use of digital devices such as smartphones and laptops in people's daily lives. Furthermore, the growing popularity of the Internet of Things (IoT) and the data generated by numerous IoT devices have contributed to this data boom. Data analysts have found evaluating and making sense of large amounts of digital data production challenging. Big data technologies must be used to assist in processing these massive volumes of data, as well as identifying data trends and presenting these enormous amounts of data.
Organizations are experiencing a significant rise in big data security challenges as big data tools, and analysis solutions become more common in modern business infrastructure. This has resulted in increased adoption of big data security solutions, which helps them safeguard enterprise and consumer data. As a result, the big data security industry has grown significantly in recent years and is projected to continue to grow.
Growth in Awareness about the Importance of Data Privacy to Provide Opportunities for the Global Big Data Security Market
Due to corporate data breaches and corporate data leakages that directly influence consumer privacy in recent years, consumers and governments have acknowledged the importance of data privacy. This indicates that if the focus is on leading prominent data cybersecurity, hackers may gain unrestricted access to information processed using big data technology. As a result of this understanding, consumers, governments, and other interested parties are putting pressure on companies to implement more robust and better big data security solutions to safeguard the safety and privacy of user data.
Report Scope
| Report Metric | Details |
| Market Size | USD 115 Billion by 2030 |
| CAGR | 19% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Solution, By Deployment, By Organization Size, By Industry Vertical, By Region |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | IBM Corporation, Oracle Corporation, Microsoft Corporation, Google LLC, Amazon Web Services Inc., HPE, Talend, Micro Focus Plc, Checkpoint Software Technologies Inc., Fireeye Inc. |
| Key Market Opportunities | Growth in Awareness about the Importance of Data Privacy |
| Key Market Drivers | Increase in Digitization Trends and Digital Data Production Sensitive Data Stored and Analyzed in Big Data |
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Regional Insights
Region-wise, the global big data security market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the global market and is projected to grow at a CAGR of 17.5%. Several industry verticals in North America use extensive data services to increase risk management and consumer marketing skills. Because most security suppliers are situated in North America, the area is among the first to adopt new and advanced security technology. As a result, North America is predicted to lead the Big Data security market during the forecast period.
Asia-Pacific is the second-largest and fastest-growing region. The Asia-Pacific big data security market is projected to reach USD 32180 million by 2030, growing at a CAGR of 21%. Big Data security solutions are expected to improve the performance of security solutions by preventing low-level incidents and viewing each user as a hostile network. Due to high digital connectivity, cybersecurity awareness, increased data transfer across borders, and weaker laws, the Asia-Pacific region is expected to increase the demand for a more prominent data security solution during the forecast period.
Europe is the third-largest region. The growing threats of cyber-crime worldwide, especially in Europe, have provided new emerging domains that could prevent significant data attacks, such as cloud security, rapid cloud computing, data center and wireless communications from boosting the big data security market during the forecast period. The rise in cyber security blocks access to and theft of high-quality data due to the lack of a robust security system, thus, providing enhanced security measures to several companies in Europe.
Key Highlights
- The global big data security market was worth 24 billion in 2021 and is projected to reach USD 115 billion by 2030, registering a CAGR of 19% during the forecast period (2022-2030).
- By solution, the global big data security market is segmented into data encryption, data authorization & access, tokenization & masking, data auditing & monitoring, data governance & compliance, data discovery & classification, data security analytics, and data backup & recovery. The data security analytics segment was the highest contributor to the market and is estimated to grow at a CAGR of 14.2% during the forecast period. Security analytics provide a timely resolution matrix and low false positives that allow analysts to identify threats and react to security breaches, further driving the market growth.
- Based on deployment, the global big data security market is divided into on-premise and cloud. The on-premise segment was the highest contributor to the market and is estimated to grow at a CAGR of 18% during the forecast period. The IT team is in charge of guaranteeing service availability and disaster recovery operations at all times. Because the company has complete control over the IT department, it can constantly monitor situations and predict when and why services can go down. These factors are propelling the on-premise big data security market forward. Furthermore, the rise in cloud cyberattacks and competition among SMEs has led to a shift in SMEs' preferences toward on-premise solutions, opening up prospects for expanding big data on-premise security solutions.
- Based on organization size, the global big data security market is categorized into small & medium enterprises and large enterprises. The same segment was the highest contributor to the market and is estimated to grow at a CAGR of 18.5% during the forecast period. Increased cyber attacks on data and a surge in hacks are the key drivers driving SMEs' growth of extensive data security. Moreover, the availability of cloud-based solutions, government policies, and the rise in competition among SMEs are providing ample opportunities for the growth of the big data security market among SMEs.
- Based on industry verticals, the global big data security market is segregated into IT & ITES, telecommunications, healthcare and social assistance, financial & insurance, retail trade, utilities, and others. The financial and insurance segment was the highest contributor to the market and is estimated to grow at a CAGR of 15.7% during the forecast period. Finance and insurance have highly sensitive data, necessitating big data security solutions to avoid hacker and cyber criminal attacks. Data privacy and security concerns increased cyberattacks on financial institutions for monetary gain. Data theft of vital records is just one of the primary causes propelling the big data security market forward. Furthermore, the demand for big data security solutions in the sectorhas been shaped by the development of cloud-based solutions and the peer-to-peer model.
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Competitive Players in the Global Big Data Security Market
- IBM Corporation
- Oracle Corporation
- Microsoft Corporation
- Google LLC
- Amazon Web Services Inc.
- HPE
- Talend
- Micro Focus Plc
- Checkpoint Software Technologies Inc.
- Fireeye Inc.
Global Big Data Security Market: Segmentation
By Solution
- Data Discovery and Classification
- Data Authorization and Access
- Data Encryption, Tokenization, and Masking
- Data Auditing and Monitoring
- Data Governance and Compliance
- Data Security Analytics
- Data Backup and Recovery
By Deployment
- On-premises
- Cloud
By Organization Size
- Large Enterprise
- Small and Medium Enterprise
By Industry Vertical
- IT & IT'S
- Telecommunications
- Healthcare and Social Assistance
- Financial and Insurance
- Retail Trade
- Utilities
- Others
By Region
- North America
- Europe
- Asia-Pacific
- LAMEA
TABLE OF CONTENT
- Introduction
- Market Definition
- Market Scope
- Research Methodology
- Primary Research
- Research Methodology
- Assumptions & Exclusions
- Secondary Data Sources
- Market Overview
- Report Segmentation & Scope
- Value Chain Analysis: Big Data Security Market
- Key Market Trends
- Drivers
- Restraints
- Opportunities
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitution
- Threat of New Entrants
- Competitive Rivalry
- Market Share Analysis
- Solution Overview
- Introduction
- Market Size & Forecast
- Data Discovery and Classification
- Market Size & Forecast
- Data Authorization and Access
- Market Size & Forecast
- Introduction
- Deployment Overview
- Introduction
- Market Size & Forecast
- On-premises
- Market Size & Forecast
- Cloud
- Market Size & Forecast
- Introduction
- Regional Overview
- Introduction
- Market Size & Forecast
- America
- North America
- U.S.
- By Solution
- By Deployment
- Canada
- By Solution
- By Deployment
- Mexico
- By Solution
- By Deployment
- Latin America
- By Solution
- By Deployment
- Europe
- Market Size & Forecast
- Germany
- By Solution
- By Deployment
- France
- By Solution
- By Deployment
- U.K.
- By Solution
- By Deployment
- Italy
- By Solution
- By Deployment
- Spain
- By Solution
- By Deployment
- Rest of Europe
- By Solution
- By Deployment
- Asia Pacific
- Market Size & Forecast
- Japan
- By Solution
- By Deployment
- China
- By Solution
- By Deployment
- Australia
- By Solution
- By Deployment
- India
- By Solution
- By Deployment
- South Korea
- By Solution
- By Deployment
- Rest of Asia-Pacific
- By Solution
- By Deployment
- Middle East & Africa
- Market Size & Forecast
- Saudi Arabia
- By Solution
- By Deployment
- South Africa
- By Solution
- By Deployment
- Kuwait
- By Solution
- By Deployment
- Rest of Middle East & Africa
- By Solution
- By Deployment
- Introduction
- Company Profile
- IBM Corporation
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Oracle Corporation
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Microsoft Corporation
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- IBM Corporation
- Conclusion & Recommendation
- Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/big-data-security-market/toc
Market News
- May 2022 - Oracle is strengthening Oracle Cloud Infrastructure (OCIbuilt-in )'s security services and capabilities to assist clients in safeguarding their cloud apps and data from emerging threats. A new built-in and cloud-native firewall service and upgrades to Oracle Cloud Guard and Oracle Security Zones complete OCI's already robust security offering. These advancements will also help enterprises protect their cloud deployments and apps with easy, prescriptive, and integrated services that do not require additional investment in most circumstances.
News Media
Rising Emphasis on Ensuring Regulatory Compliance to Drive the Demand for Enterprise Data Management
North America to grow at a faster pace in the BigData Analytics Market over the Forecast Period
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