Securing the Future: Insights into the Global Big Data Security Market 2027 | TALEND, CHECKPOINT, GOOGLE,

According to a recent report published by Allied Market Research, the global big data security market size was valued at $13.72 billion in 2019, and is projected to reach $54.23 billion by 2027, registering a CAGR of 18.8 % from 2020 to 2027.

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' requirement. Big data analysis of customer data gives organizations, their spending patterns, types of products and services they avail, and where & how do they engage with the organization's products. This data may contain personally identifiable information about their consumers.

Increase in digitization trends and digital data production and surge in data privacy and security concerns drive the growth of the global big data security market. On the other hand, presence of huge data to be analyzed impedes the growth to some extent. However, advancements in big data techniques are expected to create lucrative opportunities in the industry.

Impact of COVID-19 on Big Data Security Market:

• The outbreak of the pandemic made most organizations adopt remote working system in order to cater to the social distancing norms. This increased online activities led to increase in tons of additional raw data to be generated, thereby boosting the global big data security market.

• Also, rise in cyber-criminal activities gave way to surge in demand for improved security of confidential corporate assets, thus impacting the market positively.

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The global big data security market is analyzed across solution type, deployment mode, organization size, industry vertical, and region. Based on solution type, the data security analytics segment accounted for around one-fifth of the total market share in 2019 and is expected to dominate during the forecast period. The data governance and compliance segment, on the other hand, would cite the fastest CAGR of 24.9% from 2020 to 2027.

Based on deployment mode, the on-premise segment contributed to nearly two-thirds of the total market share in 2019, and is projected to retain its dominance by the end of 2027. At the same time, the cloud segment would exhibit the fastest CAGR of 20.5% throughout the forecast period.

Based on region, North America garnered the major share in 2019, holding nearly two-fifths of the global market. Simultaneously, the market across Asia-Pacific would register the fastest CAGR of 20.9% from 2020 to 2027. The other two provinces covered in the report include Europe and LAMEA.

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The key market players analyzed in the global big data security market report include Oracle Corporation, Microsoft Corporation, Fireeye Inc., Amazon Web Services Inc., HPE, Talend, Micro Focus Plc, IBM Corporation, Checkpoint Software Technologies Inc., and Google LLC. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry.

The Big Data Security market is influenced by several key factors that impact its growth and dynamics. Here are four of the most impactful factors:

Increasing Data Breaches and Cyberattacks:

With the proliferation of digital data and the rising number of cyber threats, organizations face significant challenges in securing their data. High-profile data breaches and cyberattacks have highlighted the importance of robust security measures, driving the demand for big data security solutions.

Stringent Data Protection Regulations:

Governments and regulatory bodies worldwide are imposing stringent data protection regulations to safeguard consumer privacy and mitigate the risks associated with data breaches. Regulations such as GDPR (General Data Protection Regulation) in Europe and CCPA (California Consumer Privacy Act) in the United States compel organizations to implement advanced security measures for managing and protecting sensitive data, thereby fueling the adoption of big data security solutions.

Rapid Adoption of Big Data Analytics:

The increasing adoption of big data analytics tools and technologies for deriving valuable insights from large datasets presents new security challenges. As organizations harness the power of big data to drive business decisions, they need to ensure the confidentiality, integrity, and availability of their data assets. This drives the demand for specialized big data security solutions that can protect data throughout its lifecycle, from ingestion and storage to analysis and sharing.

Emergence of Advanced Threats and Technologies:

The evolving threat landscape, characterized by sophisticated cyber threats such as ransomware, zero-day exploits, and insider threats, necessitates advanced security measures. Additionally, the adoption of emerging technologies such as IoT (Internet of Things), AI (Artificial Intelligence), and cloud computing introduces new security risks and complexities. Big data security solutions must evolve to address these challenges and provide comprehensive protection against both traditional and emerging threats.

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