Global Big Data Security Market Segmentation, By Component (Software, Services), Technology (Identity, Access Management, Security Information, Event Management, Intrusion Detection System, Unified Threat Management), Deployment Model (On-Premises, Cloud), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Verticals (IT and ITES, Telecommunications, Healthcare and Social Assistance, Financial and Insurance, Retail Trade, Utilities, Other Verticals) – Industry Trends and Forecast to 2031
Big Data Security Market Analysis
Over the recent years, the organizations have significantly increased their spending to strengthen data security and hire data security specialists. Privacy breach concerns will account for up to 10% of the entire demand for security services in the upcoming years. This is anticipated to motivate businesses to take preventative steps to assure identity governance, access management, and data loss prevention. Therefore, it is anticipated that over the next few years, the big data security market would rise as a result of rising organization investment and growing awareness of the importance of data security solutions. Consequently, these growth determinants give the market a positive outlook over the forecasted timeline.
Big Data Security Market Size
Global big data security market size was valued at USD 25.19 billion in 2023 and is projected to reach USD 66.49 billion by 2031, with a CAGR of 12.90% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Big Data Security Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Key Market Players
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Digi-key Electronics (U.S.), Brewer Science, Inc. (U.S.), DuPont (U.S.), Murata Manufacturing Co., Ltd (Japan), MTS Systems Corporation (U.S.) Interlink Electronics, Inc. (U.S.), Emerson Electric Co (U.S.),Thin Film Electronics ASA (Norway), ISORG (France), Peratech Holdco Ltd (U.K.), Honeywell International Inc(U.S.), TE connectivity (Switzerland), SpotSee (U.S.), KWJ Engineering Inc., (U.S.)., Fujifilm Holding Corporation (Japan), Interlink Electronics, Inc. (U.S.) and Tekscan, Inc. (U.S.)
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Market Opportunities
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Big Data Security Market Definition
Big data security refers to a variety of techniques and apparatus used to protect data and analytical procedures. It guards against thefts, cyberattacks, and other nefarious actions that can possibly compromise important data. Additionally, it helps to increase system efficiency, enable convenient resource sharing, ensure the security of transactions and data storage records, and prevent unauthorized access to improve the organization's performance and safety. Big data security has become more important among businesses worldwide due to how financially damaging, damaging to reputational, and operationally disruptive cyber threats can be.
Big Data Security Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Rising Cyber-attacks Across the Globe
The use of targeted assaults, which penetrate targets' network infrastructure while remaining anonymous, has increased recently. Attackers who know exactly who they're going after typically target endpoints, networks, on-premises devices, cloud-based apps, data, and other IT infrastructure. The main goal of targeted assaults is to break into the network of the targeted businesses or organizations and steal sensitive data. Business interruption, loss of intellectual property, financial loss, and loss of sensitive customer information are all negative effects of these focused attacks on enterprises' most important operations. Targeted cyberattacks have an impact on the targeted companies, as well as their local and international clients. Attackers steal Personally Identifiable Information (PII), which includes names, phone numbers, addresses, license numbers, and social security numbers. This leads to security breaches and identity theft. Consequently, such cyber-attacks further increase the need for scalable big data security solutions, which further boosts the market’s overall growth.
- Increased Requirement for Cloud Deployment
By deploying them on-premises, organizations may have more control over all big data security solutions, including next-generation firewalls and intrusion prevention systems. Enterprises benefit from the cloud deployment model for big data security solutions because cloud-based solutions offer speed, scalability, and improved IT security. There is a rising need for cloud-based big data security solutions among SMEs and major corporations as more applications are delivered over the cloud.
Furthermore, the factors such as enhanced security measures and increasing cybersecurity awareness will accelerate the overall market expansion during the forecast period. Additionally, the increasing volume of business data generated from multiple sources is anticipated to drive the growth rate of the big data security market.
Opportunities
- High Adoption of Artificial Intelligence (AI) and Machine Language (ML)
The increased adoption of artificial intelligence (AI) and machine language (ML) based applications will further provide various growth opportunities to market over the forecast period. AI and ML can learn about how certain risks are categorized as they strive to secure information by utilizing algorithms that are given to them. By using such methods, these technologies may quickly examine the system's anomalous behavior and assess whether or not those anomalies qualify as potential dangers.
- Surge in Digitalization Trends
The production of digital data has greatly expanded over the last few decades, and this trend is anticipated to continue which will offer lucrative opportunities to the market. The growing daily use of digital devices like smartphones and laptops is one of the main factors causing this rise in digital data generation. The internet of things (IoT), which is becoming increasingly popular, and the data produced by various IoT devices, have also contributed to this data boom. Data analysts can find it difficult to evaluate and make sense of massive amounts of digital data output. In order to handle these large amounts of data, discover data trends, and communicate these massive amounts of data, big data technologies must be deployed.
Restraints/Challenges
- Identifying and Analyzing Sensitive Data
Sensitive content appears in unstructured formats, such as office documents, files, or photographs, and is disseminated and published through file sharing, social media, and email, in contrast to structured data, which is housed within well-protected IT perimeters. Organizations are no longer simply worried with the sensitive data accumulated mostly on-premises, thanks to the fast use of cloud computing and the increase in remote workers. At the moment, sensitive data can dwell in many places and go through many different channels. Finding and analyzing sensitive data among the structured and unstructured data gathered from many sources has become a major concern, which is estimated to hamper the market growth.
- High Installation Costs
In order to adopt Next-Generation Firewalls (NGFWs) and Advanced Threat Protection (ATP) technologies, young startups' cybersecurity budgets are insufficient. The adoption of big data security solutions by small businesses in emerging nations is expected to be constrained by a number of important concerns, including a lack of capital and restricted investments. Moreover, due to a lack of adequate IT security infrastructure caused by their limited financial resources, these businesses slowly implement new technologies and enterprise security solutions. The proper management of planned budget funds for various operational challenges and business continuity planning is a burden on small businesses.
This big data security market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the big data security market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Big Data Security Market
The big data security market was immensely impacted by the outbreak of COVID-19. Numerous governments and regulatory bodies have mandated that both public and commercial enterprises adopt new methods for working remotely and upholding social distance during the COVID-19 pandemic crisis. Since then, numerous firms' new Business Continuity Plans (BCPs) have been based on digital methods of conducting business. People are increasingly inclined to adopt digital technologies like cloud solutions due to the widespread usage of BYOD devices, the WFH trend, and the internet penetration into every part of the world, fueling the demand for Big data security measures to fend off cyberattacks. To maintain strong security practices and policies in the face of the COVID-19 pandemic, there is an increasing demand for endpoint and Virtual Private Network (VPN) protection measures.
Big Data Security Market Scope
The big data security market is segmented on the basis of component, technology, deployment model, organization size and verticals. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Software
- Encryption, tokenization, and data masking
- Backup and recovery
- Access control
- Security intelligence
- Big data governance
- Others
- Audit and Reporting
- Big Data Discovery
- Classification
- Services
- Managed services
- Professional services
- Support and Maintenance
- Consulting Services
- Education and Training
Technology
- Identity
- Access Management
- Security Information
- Event Management
- Intrusion Detection System
- Unified Threat Management
Deployment Model
- On-Premises
- Cloud
Organization Size
- Small and Medium-Sized Enterprises
- Large Enterprises
Verticals
- IT and ITES
- Telecommunications
- Healthcare and Social Assistance
- Financial and Insurance
- Retail Trade
- Utilities
- Other Verticals
Big Data Security Market Regional Analysis
The big data security market is analyzed and market size insights and trends are provided by country, component, technology, deployment model, organization size and verticals as referenced above.
The countries covered in the big data security market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the big data security market because of the early adoption of technologies and high penetration of security solutions within the region over the forecast period of 2024 to 2031. Moreover, the surge in enhanced security measures is further estimated to accelerate the expansion over the forecast period.
Asia-Pacific is expected to witness significant growth during the forecast period of 2024 to 2031 due to the factors such as high digital connectivity, cybersecurity awareness and increased data transfer across borders within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Big Data Security Market Share
The big data security market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to big data security market.
Big Data Security Market Leaders Operating in the Market Are:
- FlexEnable Limited (U.K.)
- T+ink, Inc. (U.S.)
- Brewer Science, Inc. (U.S.)
- DuPont (U.S)
- Palo Alto Research Center (PARC) Inc. (U.S.)
- Interlink Electronics, Inc. (U.S)
- Thin Film Electronics ASA (Norway)
- ISORG (France)
- Peratech Holdco Ltd (U.K.)
- KWJ Engineering Inc., (U.S.)
- Fujifilm Holding Corporation (Japan)
- Canatu (Finland)
- Interlink Electronics, Inc. (U.S.)
- Tekscan, Inc. (U.S.)
Latest Developments in Big Data Security Market
- In August 2021, The Vulnerability Management module for VMware Carbon Black Cloud Endpoint has been made available by VMware. Customers can further streamline and combine crucial security features into a single cloud-native agent and console by including Vulnerability Management to VMware Carbon Black Cloud Endpoint. The new service from VMware boosts visibility and prioritises risks, enabling security teams to concentrate on exploitable flaws
- In August 2021, Microsoft Dynamics 365, a series of business resource planning and customer relationship management software tools, now has improved security coverage thanks to MVISION Cloud, a secure access service edge (SASE) offering from McAfee Enterprise. By employing a seamless API-based cloud-native approach, this solution expands the possibilities of Dynamics 365
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