Big data security refers to a process for all
the measures & tools used to guard both data and analytics processes from
theft, attacks, or other malicious activities that could harm or negatively
affect them. It has various characteristics that include variety, volume,
velocity & veracity. It is used when traditional data mining & handling
techniques cannot uncover the insights or meaning of the underlying data.
According to study, “Global
Big Data Security Market, By Component (Software, Service), By
Software (Encryption, Data Masking, Access Control, Security Intelligence, Data
Governance), By Service (Professional, Managed), By Deployment (Cloud,
On-Premise) - Forecast 2023” the key companies operating in the global big data
security market are Hewlett Packard Enterprise Company, McAfee LLC, IBM
Corporation, Symantec Corporation, Rapid7, Inc., FireEye, Inc., LogRhythm,
Inc., Microsoft Corporation, Amazon Web Services, Gemalto NV, Check Point
Software Technologies Ltd., Proofpoint, Inc., Fortinet, Cloudera, Inc., Zettaset,
Inc., Hortonworks Inc., Pivotal Software, Inc., Centrify Corporation, Thales
E-Security, Imperva, Inc.
Based on component, big data security market
is segmented into services component and software component. Services segment
includes professional services (consulting, support & maintenance and
education & training) and managed services. Software segment includes
encryption & tokenization and data masking, access control, backup &
recovery, big data governance, security intelligence and others (big data discovery,
audit & reporting, and classification). Based on technology, market is
segmented into Identity & Access Management (IAM), Intrusion Detection
System/Intrusion Prevention System (IDS/IPS), security information and event
management, Unified Threat Management (UTM) and others. Based on deployment
model, market is segmented into cloud based deployment and on-premise based
deployment. Cloud based deployment segment holds major share in market owing to
growth in use of cloud computing in big data and improved flexibility &
cost-efficiency. Based on organization size, market is segmented into large
enterprises and small & medium-sized enterprises. In addition, based on
industry vertical, market is segmented into Banking, Financial Services, and Insurance
(BFSI), retail & ecommerce, telecommunications and IT, government &
defense, healthcare & life sciences, media & entertainment industry,
manufacturing industry, energy & utilities and others.
The big data security market is driven by rise
in cyber-attacks demand for scalable & high security solutions, followed by
increase in variety & volume of business data generated from various
sources, rise in adoption of digital technology, growth of e-commerce industry,
increase in trend of smartphone ownership & respective applications (apps),
high investments in research & development (R&D) and growth in
developing regulatory landscape. However, low data security budget & high
installation cost of solutions and lack of data security awareness may impact
the market. Moreover, rise in demand from small & medium enterprises and
growth in demand for third-party managed security service providers are key
opportunities for market.
Based on geography, the North-America region
holds major share in big data security market owing to presence of large
vendors with a strong customer base, growth in expenditure with regards to
adoption of new technologies and rise in innovative technologies in the region.
The European and Asian-Pacific regions are also expected to witness higher growth
rate due to rise in cyber-security attacks and surge in demand for managed
security services over the forecast period. In upcoming years, it is estimated
that future of the market will be bright caused by rapid growth in the volume
of the business data during the forecast period. The global market is
anticipated to reach around US $ 36.5 billion by 2023 at a CAGR of 16.9%.
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