Future Insights: The Global Big Data Security Market is Poised to Reflect 17.10% CAGR by 2032

Market Research Future Insights:

The big data security market in 2022 is driven by the increasing relevance of data mining for usable information today. Market Research Future creates ICT industry reports, that highlight market opportunities for growth. By the end of 2032, the market is expected to generate USD 35.604 billion at a CAGR of 17.10%.

The future growth of the big data security market is anticipated to be driven by the increasing demand for appropriate high-security solutions. In the upcoming years, the market for big data security is projected to grow due to the surge in demand for third-party managed security service providers.

Dominant Key Players in the Big Data Security Market covered are:

• Symantec Corporation
• Fortinet
• Check Point Software Technologies Ltd.
• IBM
• Hewlett Packard Enterprise (HPE)
• Proofpoint Inc.
• FireEye Inc.
• Rapid7 Inc.

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Regional Analysis:

North America dominates the big data security market because of the early acceptance of technologies and high penetration of security solutions within the region over the forecast period. Moreover, the rush in enhanced security measures is further projected to accelerate the expansion over the forecast period.

Asia-Pacific is projected to witness substantial growth during the forecast period. owing to the factors such as high digital connectivity, cybersecurity awareness, and augmented data transfer across borders within the region

Market Segmentation :

Based on components, organisation size, deployment, technology, and end-user, the big data security market is segmented. The big data security market is divided based on end-user into the following sectors: travel & logistics, automotive, healthcare, government, BFSI, and IT & communications. Software and services make up the component basis for segmenting the big data security industry. The software market is further divided into the following submarkets: data governance, data masking, encryption, and security intelligence. The big data security industry is split between on-premise and on-cloud deployments.

Identified threat management (UTM), security information and event management (SIEM), identity and access management (IAM), and intrusion detection system (IDS)/intrusion prevention systems make up the technology-based segments of the big data security industry (IPS). The big data security market is divided into SMEs and large enterprises based on the size of the organizations.

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Based on the component:

• Software
• Services

Based on software

• Data Discovery and Classification
• Data Authorization and Access
• Data Encryption, Tokenization, and Masking
• Data Auditing and Monitoring
• Data Governance and Compliance
• Data Security Analytics
• Data Backup and Recovery

Based on the deployment type

• Cloud
• On-Premises

Recent Developments:

• In October 2020, IBM Security announced new and upcoming capabilities for Cloud Pak for Security, which includes a data security solution that enables companies to detect, respond, and protect from threats to their most sensitive data across hybrid cloud environments.
• In February 2020, Oracle and Microsoft expanded their cloud collaboration with a new cloud interconnect location in Amsterdam, Netherlands. The new interconnect location would enable these businesses to share data across applications running in Microsoft Azure and Oracle Cloud.
• In June 2020, Microsoft partnered with SAS to bring cloud-based SAS industry solutions to its customers.

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