BIG DATA SECURITY MARKET: SUMMARY
The Global Big Data Security Market is projected to reach a value of over USD 55.8 Billion by 2027 at a CAGR of around 16.6%.
Big data is defined as the large amount of data which can be analyzed using algorithms in order to extract meaningful patterns, trends, and other related information. Big data security is defined as all the solutions and tools that are used to secure data and analytics process from any type of malicious attack or theft. The organizations which functions on cloud environment majorly, big data security is crucial for them. The malicious activities affecting data of organization includes stealing of online stored information, ransomware, denial-of-service attack, and other such attacks. Moreover, any type of attack on the big data of any firm may give rise to consequential financial repercussions such as fines, legal costs, loss on revenue. In addition, incorporating big data security tools in the application during its development itself may improve security and privacy feature of the end result.
BIG DATA SECURITY MARKET: DRIVERS & CHALLENGES
- Expanding Adoption of Bring Your Own Devices (BYOD)
The BYOD policy is being adopted across the industries as it is one of the cost efficient solution, and it also increases employee productivity as the employees are more familiar to the device. Although there are numerous advantages of embracing BYOD policy, there is a risk associated to data breaching. As there will be numerous devices being connected to the network of the firm, endpoint security becomes essential as data will be handled at any given point of time from any device. There could be data leakage, data loss, cross contamination, or devices with jeopardized programming can be connected with the enterprise network.
Thus, expanding adoption of BYOD may contribute to the growth of the big data security market, during the forecast period.
As the adoption of cloud environment and mobile services is expanding significantly, security systems have encountered dramatic change in the variety of the malicious activities. The organizations are considering to prevent any type of attack by detecting them beforehand and responding towards it with recent technologies. Implementing big data security solutions helps in collecting, warehousing and analyzing large amount of security data throughout the firm network in real time. This large amount of data consists of additional context data and threat intelligence in which the collected data is analyzed using correlation algorithms to detect any possible malicious activities.
Thus, rising cyber-attacks may contribute to the growth of the big data security market, during the forecast period.
- Lack of Skilled Workforce
Currently the major challenge in managing big data security solutions and tools is lack of skilled workforce. There is a notable mismatch between the demand and supply of workforce which is skilled to work as data scientist and data engineer. According to a report published by The Royal Society, the demand of workforce with the specialist data skill will grow exponentially. In order to manage this gap various organizations are taking initiatives, such as Organisation for Economic Co-operation and Development (OCED) suggests that there shall be investment in education and workplace training in domain of data-intensive scientific fields.
Thus, lack of skilled workforce may hamper the growth of the big data security market, during the forecast period.
BIG DATA SECURITY MARKET: KEY SEGMENTS
- Segmentation based on offering: Software and Services
- Segmentation based on solution: Identity and Access Management, Intrusion Detection System, Security Information and Event Management, Unified Threat Management and Others
- Segmentation based on deployment: On-premise and Cloud
- Segmentation based on end-users: IT & Telecommunication, Retail, BFSI, Government, Manufacturing, Healthcare, and Others
- Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, and Middle East & Africa with individual country-level analysis.
BIG DATA SECURITY MARKET: REPORT SCOPE
The report on the big data security market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million)
Offering, Solution, Deployment, End-users, and Region
North America, South America, Asia-Pacific, Europe, Middle East & Africa
KEY COMPANIES COVERED
- IBM (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- AWS (Amazon.com)
- Thales Group
- Hewlett Packard Enterprise Development LP
- Comforte AG
- Other Key Companies
- Centrify Corporation
- Pivotal Software, Inc.
- Check Point Software Technologies Ltd.
BIG DATA SECURITY MARKET: REPORT SEGMENTATION
For the scope of the report, In-depth segmentation is offered by Forencis Research
Big Data Security Market, by Offering
- Tokenization and Masking
- Access Control
- Risk Analytics
Big Data Security Market, by Solution
- Identity and Access Management
- Intrusion Detection System
- Security Information and Event Management
- Unified Threat Management
Big Data Security Market, by Deployment
Big Data Security Market, by End User
- IT & Telecommunication
Big Data Security Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
KEY QUESTIONS ANSWERED BY THE REPORT
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Big Data Security Market Providers
- Big Data Security Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Big Data Security Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE BIG DATA SECURITY MARKET STUDY