Portland, OR, June 17, 2021 (GLOBE NEWSWIRE) -- According to the report published by Portland (OR) based research firm Allied Market Research, the global big data security market was estimated at $13.72 billion in 2019 and is expected to hit $54.23 billion by 2027, registering a CAGR of 18.8% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
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Increase in digitization trends and digital data production and surge in data privacy and security concerns drive the growth of the global big data security market. On the other hand, presence of huge data to be analyzed impedes the growth to some extent. However, advancements in big data techniques are expected to create lucrative opportunities in the industry.
Impact of COVID-19 on Big Data Security Market:
- The outbreak of the pandemic made most organizations adopt remote working system in order to cater to the social distancing norms. This increased online activities led to increase in tons of additional raw data to be generated, thereby boosting the global big data security market.
- Also, rise in cyber-criminal activities gave way to surge in demand for improved security of confidential corporate assets, thus impacting the market positively.
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The global big data security market is analyzed across solution type, deployment mode, organization size, industry vertical, and region. Based on solution type, the data security analytics segment accounted for around one-fifth of the total market share in 2019 and is expected to dominate during the forecast period. The data governance and compliance segment, on the other hand, would cite the fastest CAGR of 24.9% from 2020 to 2027.
Based on deployment mode, the on-premise segment contributed to nearly two-thirds of the total market share in 2019, and is projected to retain its dominance by the end of 2027. At the same time, the cloud segment would exhibit the fastest CAGR of 20.5% throughout the forecast period.
Based on region, North America garnered the major share in 2019, holding nearly two-fifths of the global market. Simultaneously, the market across Asia-Pacific would register the fastest CAGR of 20.9% from 2020 to 2027. The other two provinces covered in the report include Europe and LAMEA.
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The key market players analyzed in the global big data security market report include Oracle Corporation, Microsoft Corporation, Fireeye Inc., Amazon Web Services Inc., HPE, Talend, Micro Focus Plc, IBM Corporation, Checkpoint Software Technologies Inc., and Google LLC. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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