BIG DATA SECURITY MARKET TO REACH USD 55.8 BILLION BY 2027 | CAGR 16.6% – FORENCIS RESEARCH

Big Data Security Market Size, Share, Trends, Growth, Analysis, Research

Global Big Data Security Market: Key Highlights

  • According to the new market research report “Big Data Security Market by Offering (Software, Services), by solution (Identity and Access Management, Intrusion Detection System, Security Information and Event Management, Unified Threat Management and Others), by Deployment (On-premise, Cloud), by End-User (IT & Telecommunication, Retail, BFSI, Healthcare, Others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America,) – Global Forecast (2019 to 2027)”, the global Big Data Security market is estimated to reach USD 55.8 Billion by 2027 at a CAGR of around 16.6% during the review period.
  • Increasing volume of data, rapid changes in technology, and failure of conventional monitoring systems are few key factors among others driving the demand for big data security.
  • However, lack of skilled workforce is a major challenging factor for the growth of the big data security market.

Big Data Security Market

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Global Big Data Security Market: Key Market Dynamics

  • Expanding adoption of bring your own devices (BYOD) is expected to drive the market of big data security, as the employees can connect to the organization network through their own device and can access data anytime which enhances the chances of theft of data.
  • Rising cyber-attacks is expected to drive the market as the cyber-attacks are growing in number and the sophistication level of the attacks is also improving drastically.
  • Third-party security vendors is expected to rise the market in near future as the organizations are inefficient to secure data on their own due to lack of infrastructure and expertise.  
  • Lack of skilled workforce is expected to challenge the growth of the market as the number of vacancies available across the globe for the data specialists is higher compared to the number workers available with the skill of data specialist.

Global Big Data Security Market: Regional Overview

  • Asia-Pacific

The big data security market in Asia-pacific region is expected to show fastest growth rate. Increasing usage of social media platforms to understand consumer behavior, growing transitional information, and expanding real-time information from various sources are few factors compelling to the penetration of big data market in the region. As per the survey conducted by the China Academy of Information and Communications Technology (CAICT) 56% of Chinese firms are planning to adopt big data technology. Moreover, the governing authorities of South Korea are also planning to expand the domestic data market to strengthen their position across the globe. 

  • North America

Due to rising data collection from unstructured sources and flourishing demand of big data solutions from the public sector in North America, is expected to increase the demand for big data security market. Numerous public sector entities are conducting businesses through mobile, social networking and weblogs, a large amount of data gets generated. This unstructured data can be useful to the companies operating in this region and may give competitive edge to them.  According to a report published by European Parliament, out of total revenue generated from big data more than half is predicted to be generated by the US.

Global Big Data Security Market: Key Players Overview

  • Thales Group:

Thales Group is a France-based company that deals in designing and manufacturing of electrical systems and caters services to aerospace and defense industry, transportation industry and security markets. Under the name Thales e Security, the company provides cloud protection, licensing solutions and data encryption solutions. In 2019, the company acquired Gemalto which is a global security organization to strengthen their position in digital security market. Gemalto have portfolio named SafeNet for data protection solution, that helps end users to secure their big data deployments.    

  • Axiomatics:

Aximatics is a Sweden-based organization engages in the production of dynamic authorization solutions based on attribute based access control. In the product portfolio, the company have various products under dynamic authorization product suite such as dynamic authorization for business application, Application Programming Interface (API) and Microservices and SmartGuard for data. In 2017, the company launched SmartGuard for Big Data v.1.1, this variant can support Apache Hive.

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Published : 2020-03-06