Big Data Security Market to Reach US$ 50.3 Billion by 2028 | CAGR of 16.1%

According to the latest report by IMARC Group, titled "Big Data Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global big data security market size reached US$ 19.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 50.3 Billion by 2028, exhibiting a growth rate (CAGR) of 16.1% during 2023-2028. Big data security is adopted by businesses in order to protect the data from cyber thefts and malicious activities. It usually includes several tools and measures that are undertaken to safeguard numerous analytical processes. Some of the commonly used security methods include authorization, authentication, and centralized administration that helps to prevent unauthorized access to business data, storage logs and transactions. As a result, it aids in providing endpoint security, increases system efficiency and robustness, enhances communication and facilitates the availability of information while allowing convenient resource sharing across the organization.

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Global Big Data Security Market Trends:

The global market is primarily driven by significant growth in the information technology (IT) sector. Along with this, the increasing incidences of cyberattacks and data thefts across the globe have encouraged multiple businesses to heavily invest in the deployment of efficient security systems, which is providing a boost to the market growth. Moreover, continual technological advancements are creating a positive outlook for the market. For instance, the widespread integration of machine learning (ML) and artificial intelligence (AI) technologies with big data security solutions is positively influencing the market growth. Furthermore, the rising adoption of the work-from-home model due to the sudden outbreak of coronavirus disease (COVID-19) has accelerated the need for big data security solutions in order to safeguard the remote working environment. Other factors, including a significant rise in data generation and extensive research and development (R&D) activities conducted by key players, are also projected to drive the market growth further.

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Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being:

Amazon Web Services Inc. (Amazon.com Inc.), Check Point Software Technologies Ltd., Cloudera Inc., Fortinet Inc., Google LLC, Hewlett Packard Enterprise Development LP, International Business Machines Corporation, McAfee LLC, Micro Focus International plc, Microsoft Corporation, Oracle Corporation and Thales Group.

Breakup by Component:

• Solution

o Data Discovery and Classification
o Data Authorization and Access
o Data Encryption, Tokenization and Masking
o Data Auditing and Monitoring
o Data Governance and Compliance
o Data Security Analytics
o Data Backup and Recovery

• Services

Breakup by Deployment Mode:

• On-premises
• Cloud-based

Breakup by Organization Size:

• Small and Medium-sized Enterprises
• Large Enterprises

Breakup by Technology:

• Identity and Access Management
• Security Information and Event Management
• Intrusion Detection System
• Unified Threat Management
• Others

Breakup by End Use Industry:

• BFSI
• IT and Telecommunication
• Healthcare and Pharmaceuticals
• Financial and Insurance
• Retail Trade
• Utilities
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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