As per the report published by Fior Markets, the global big data security market size is projected to grow from USD 14.8 billion in 2020 to USD 31.50 billion by 2028, recording a Compound Annual Growth Rate (CAGR) of 9.9% from 2021 to 2028.
The big data security market is witnessing significant growth in the past years. The expansion of the big data security market is being driven by improvements in IoT and other intelligence devices, a burgeoning e-commerce industry, and changing regulatory environments. The market’s growth is being hampered by the danger of data security connected with IoT and cloud platforms.
Big data security is referred to as taking care of pets staying at house as a family member. Pets help with emotional support, reduce stress levels, increase social activities, and also provide companionship. Pets can be of various forms, such as dogs, cats, and birds. They also help in an extraordinarily diverse range of activities; therapy dogs are taken to hospitals, nursing homes, and care centers for the disabled to engage with patients and help them more sociable. The important aspect of big data security is to ensure that the pet is well-trained and has proper socializing.
The global big data security market is expected to witness significant growth. The fast rise in the volume of company data, escalating cyber-attacks and data breaches, and increasing demand for high-security solutions are all contributing to the market’s growth. Some of the main issues likely to stymie this market’s growth in the next years are a lack of security knowledge and qualified employees. Organizations’ investments in data security and the hiring of data security specialists will provide market growth opportunities.
Key players operating in the global big data security market include IBM, Pivotal Software, Thales E-security, Fortinet, Centrify, Cloudera, Hewlett Packard Enterprise AWS, Hortonworks, McAfee, Symantec, Check Point Software Technologies, Gemalto, Imperva. To gain a significant market share in the global big data security market, vendors are gaining a competitive advantage through continual technical improvements and investments in new products to decrease harmful assaults. IBM and Pivotal Software are some of the key manufacturers operating in the big data security market.
- For instance, in July 2020: Google Cloud introduced two new security services for governments Confidential VMs and Assured Workloads, which give clients with sophisticated security features to support compliance and data confidentiality.
- In August 2019, HPE bought MapR Technologies to expand its Intelligent Data Platform.
The on-premises segment dominated the market and held the largest market share of 71% in the year 2020
Based on deployment, the global big data security market is segmented into cloud-based, and on-premises. The on-premises segment dominated the market and held the largest market share of 71% in the year 2020. The increase in the frequency of cloud cyber-attacks and competitiveness among SMEs are two significant reasons driving the segment’s growth.
The large enterprise segment dominated the market and held the largest market share of 65.15% in the year 2020
On the basis of organization size, the global big data security market is segmented into large enterprises and SMEs. The large enterprise segment dominated the market and held the largest market share of 65.15% in the year 2020. Large companies are changing their security policies and architecture to include big data to safeguard vital assets from diverse cyber-attacks. Large businesses substantially use big data security to defend the network, endpoints, data centers, devices, users, and apps against unauthorized usage and harmful ransomware assaults.