Big Data Security Market Size Projected to Reach USD 64.74 Billion at a CAGR of 15.70%, By 2028
The increasing trend towards outsourcing services are propelling the growth of the big data security market.
Market Size – USD 19.94 Billion in 2020, Market Growth – CAGR of 15.70%, Market Trends – Extensive adoption of smartphones.
The global Big Data Security market is forecast to reach USD 64.74 Billion by 2028, according to a new report by Reports and Data. The increasing trend towards outsourcing services will boost the demand for data security services. The popularity of BYOD services has gradually increased the amount of data generated daily. The increasing concerns of fake data generation is a significant challenge for the operational security of big data. This can lead to a failure in detecting the trends and problems to solve. Such challenges can be solved by applying a fraud detection approach. Once the data is collected, it undergoes parallel processing, which is vulnerable to get accessed by any outsider who can change the settings of the existing mappers or add ‘alien’ ones. This can destroy the data processing effectively, and sensitive information may also get leaked. These factors contribute to the necessity of deploying big data security services and tools.
Reports and Data has recently added an extensive report on the global Big Data Security market to its ever expanding database of market intelligence reports. The report provides an extensive assessment of the top leading players of the industry and gives valuable insights into the companies holding the highest share of the overall Big Data Security market. The report provides key details about market size, market share, revenue growth rate, key factors influencing and hampering the growth of the market, lucrative opportunities, and extensive analysis of key players in the market to provide overall market overview.
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Further key findings from the report suggest
- Among the technologies, the identity and access management (IAM) accounts for the largest market share of ~36% in the year 2018. IAM can be used to create a unique username to identify a user, granting access rights to various digital resources based on predefined user tasks. This significantly lessens down on user onboarding and offboarding participation. It also helps decrease the uncertainties of granting access rights to a user who should not have access.
- The intrusion detection system or intrusion prevention system (IDS/IPS) technology is forecasted to witness a higher growth rate of 18.0% during the forecast period. In the intrusion detection system or intrusion prevention system, the network or computer is continuously monitored for any invasion or attack. The method can be modified and changed according to the needs of the specific consumer and can also help outside as well as internal threats to the system and network. It effectively limits any loss to the network.
- Among the components, software accounts for the largest market share of ~55% in the year 2018. Big data collects and analyzes massive amounts of data from heterogeneous sources to discover unique and new knowledge to understand the scientific and business scenarios. Big data business intelligence enables visibility into associations and trends that otherwise go unnoticed. It aims to gain greater insights into patterns from smaller data sets.
- North America held the largest market share of ~29% in the year 2018. The increasing cases of security breaches is the major contributing factor in the growing demand for security solutions in the region. Implementation of artificial intelligence in companies makes it faster to overcome cyber risks. The identification of malware has become easier with AI than what it was using traditional systems. By tracking all previous data attacks, any suspicious activity can be easily recognized.
- Moreover, the popularity of internet, e-commerce, and social media sites in the region is another driver of the market. Sites like Facebook and Twitter have maximum users from this region. Data analytics has helped firms accurately identify target audiences. With social media growing further, the usage of big data security will only grow.
- Key participants include IBM Corporation, Symantec Corporation, Check Point Software Technologies Ltd., Microsoft Corporation, Oracle Corporation, Hewlett Packard Enterprise, Centrify Corporation, Cloudera, Inc., Thales E-Security, Hortonworks Inc., Zettaset, Inc., Mcafee, LLC, Pivotal Software, Inc., Imperva, Inc., Amazon Web Services, and Gemalto NV, among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/big-data-security-market
For the purpose of this report, Reports and Data have segmented into the global big data security market on the basis of technology, deployment model, component, data type, organization size, industry vertical, and region:
Technology Outlook (Revenue, USD Billion; 2016-2026)
- Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
- Identity and Access Management (IAM)
- Security Information and Event Management (SIEM)
Component Outlook (Revenue, USD Billion; 2016-2026)
Organization Size Outlook (Revenue, USD Billion; 2016-2026)
- Small and Medium-Sized Enterprises
- Large Enterprises
Deployment Model Outlook (Revenue, USD Billion; 2016-2026)
Data Type Outlook (Revenue, USD Billion; 2016-2026)
Industry Vertical Outlook (Revenue, USD Billion; 2016-2026)
- Retail and eCommerce
- Government and defense
- Healthcare and life sciences
- Media and entertainment
- IT and Telecommunications
- Banking, Financial Services, and Insurance
Regional Outlook (Revenue, USD Billion; 2016-2026)
- North America
- Asia Pacific
- Latin America
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