Big Data Security Market to Exhibit Hyper Growth Ahead: A USD 54,237 Million Contender by 2027

According to the report, the global big data security industry was projected at $13.72 billion in 2019, and is anticipated to hit $54.23 billion by 2027, registering a CAGR of 18.8% from 2020 to 2027.

Security is one of the biggest problems with Big Data systems. Big Data systems are extremely complex and unique; therefore, safety can be a perfect option. With the integration of new technologies, security challenges are re-emerging along with the need to be addressed appropriately. This is mainly due to decision-makers increasing confidence that investments in data and analytics will be necessary in achieving digital and business resiliency amid the pandemic.

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Furthermore, growth in virtualization across industries and the adoption of cloud computing drives the demand for cloud-based big data security solutions in various countries such as China, Japan, India, & Singapore in Asia-Pacific. In addition, cloud-based deployment of large data security solutions can help organizations reduce costs associated with expensive hardware storage, power, cooling, and depletion of IT staff needed to continuously monitor the network to eliminate IT storage costs. Cloud deployment should be small and me.

Rise in digitization trends and production of digital data, and increasing data privacy & security concerns drive the growth of the global big data security market. On the other hand, huge amount of data that call for minute analysis impedes growth to some extent. However, advancements in big data techniques are projected to create lucrative opportunities in the industry.

Enterprises are using big data analytics to identify business opportunities, improve performance, and drive decision-making. Many big data tools are open source and not security-oriented. The huge increase in data consumption leads to many data security concerns. With security still a major challenge in big data constituting around 50-55% of the total issues (Source: AMR), the demand for big data security is estimated to rise during the forecast period.

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Business organizations and enterprises store their consumer or client data in Hadoop for analysis and visualization, which helps them understand the behavior of their customers so that they can modify their commodities and even their business operations to better suit the clients' requirements. Big data analysis of customer data gives organizations, their spending patterns, types of products and services they avail, and where & how they engage with the organization's products. This data may contain personally identifiable information about their consumers.

Based on deployment, the on-premise segment accounted for nearly two-thirds of the global data security market revenue in 2019 and is anticipated to rule the roost by the end of 2027. Surge in several cloud cyber-attacks and competition among SME's are some of the major factors that drive the growth of the segment. At the same time, the cloud segment would cite the fastest CAGR of 20.5% throughout the forecast period, due to its cost-efficient feature.

Based on the solution, the data security analytics segment contributed to around one-fifth of the global data security market share in 2019, and is expected to lead the trail by the end of 2027, owing to the introduction of actionable intelligence to reduce data loss, and the prioritization of network-based paradigms. The data governance and compliance segment, on the other hand, would register the fastest CAGR of 24.9% throughout the forecast period, due to increasing risk factors on enterprise data.

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Based on region, North America held the major share in 2019, garnering nearly two-fifths of the global data security market, owing to the growing adoption of big data solutions by several industry verticals. Simultaneously, the market across Asia-Pacific would exhibit the fastest CAGR of 20.9% during the forecast period. Growing virtualization across industries and adoption of cloud computing are promoting the demand for cloud-based big data security solutions in various countries like China, Japan, India & Singapore in the Asia Pacific region.

Key players in the industry-

• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• Micro Focus Plc
• Google LLC
• Amazon Web Services Inc.,
• HPE
• Checkpoint Software Technologies Inc.
• Fireeye Inc.
• Talend Inc.

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