The Increase in Data Security and Privacy Issues to Drive Big Data Security Market Growth by 2028
Rapid adoption of digital technologies and the increasing
significance of data-based trend analysis approaches is expected to drive the
market of the Global Big Data Security Market in the forecast period of 2024-2028.
According to TechSci
Research report, Big Data Security Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast. 2018–2028F, the Global Big Data
Security market is anticipated to register a robust growth during the forecast
period, 2024-2028. Global
Big Data Security market is significantly rising as technology development has
become a crucial trend that is gaining traction in the big data security
market. To meet the demands of consumers and improve their position, major
businesses involved in the big data security industry are concentrating on
creating innovative technology solutions. For instance, Google, a US-based
technology business, introduced guaranteed workloads and secret virtual
machines (VMs) as two new security offerings to its cloud platform in July
2020. Workload segregation in the cloud is made possible by a secret virtual
machine, which utilizes cloud's private computing technology to offer memory
encryption. These assist in providing clients with cutting-edge security
solutions in order to encourage compliance and data confidentiality.
The main driver of the
growth of the big data security market throughout the projection period is the
process of securing data and analytics operations, both on-premises and in the
cloud, from a variety of threats that could compromise their confidentiality.
Businesses are increasingly adopting big data, relying on sophisticated
analytics to inform decisions, spot opportunities, and boost performance
throughout the projected period. However, because of variables like the quick
uptake of digital technology and the expanding significance of data-based trend
analysis methodologies, the tremendous growth in data usage and consumption
raises concerns about Big Data Security. Additionally,
rising concerns about data security and privacy has given the sector a strong
foundation. The utilization of big data analytics technology is also
anticipated to increase as big data techniques progress, offering a lucrative
prospect for market expansion in the years to come.
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The big data security market is segmented
into solution type, deployment, organization size, and industry verticals.
Based on solution type, the market is segmented into data discovery &
classification, data authorization & access, data encryption, tokenization
& masking, data auditing & monitoring, data governance &
compliance, data security analytics, and others. Based on deployment, the
market is divided into on-premise and cloud. Based on organization size, it is
categorized into small & medium enterprise and large enterprise.
During
the forecast period, the data security analytics segment is expected to contribute
the largest share in the market. Security analytics give analysts the
capability to identify risks and respond to security breaches with few false
positives and a rapid resolution matrix, thereby fueling market expansion.
During
the forecast period, the on-premise segment is expected to contributed the
largest share in the market. The IT department is in charge of
continuously ensuring service availability and disaster recovery procedures.
The corporation can constantly monitor events and foresee when and why services
might go down because it has total control over the IT department. These
elements are driving the market for on-premise big data security. Additionally,
SMEs' preferences for on-premise solutions have changed as a result of the rise
in cloud cyberattacks and rivalry among SMEs, creating opportunities for the expansion
of big data on-premise security solutions.
Key market players in the Big Data Security
market include:
- IBM Corporation
- Oracle Corporation
- Microsoft Corporation
- Google LLC
- Amazon Web Services Inc.
- Hewlett Packard Enterprise Company
- Talend
- Micro Focus Plc
- Checkpoint Software Technologies Inc.
- Fireeye Inc.
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“North America is a leader
in the adoption of cutting-edge security technology over the projected period
since the bulk of security suppliers are situated there. In addition, it is
anticipated that a rise in sophisticated cyber-attacks would accelerate the
adoption of Big Data Security across a range of sectors, including banking,
finance, government, and healthcare. The ecosystems for cloud-based
applications, IoT, and security have grown increasingly intricate as a result
of the increased use of digital payments. Businesses in the area, especially
significant technology firms like Intel, are adopting the Big Data environment
more and more. The Big Data ecosystem is being progressively embraced by
businesses in the area, including major technology firms like Intel.” said, Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Big Data Security Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018–2028F, Segmented By Solution Type (Data Discovery &
Classification, Data Authorization & Access, Tokenization & Masking,
Data Auditing & Monitoring, Data Governance & Compliance, Data Security
Analytics, Others), By Deployment (On-premise, Cloud), By Organization Size (Small
& Medium Enterprise And Large Enterprise); By Industry Vertical (IT &
ITES, Telecommunications, Healthcare And Social Assistance, Financial &
Insurance, Retail Trade, and Others) By Region,” has evaluated the
future growth potential of Location- based Services Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Big Data Security Market, globally.
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