Description
According to the Market Statsville Group (MSG), the global big data security market size is expected to grow from USD 19,463.0 million in 2021 to USD 77,222.0 million by 2030, at a CAGR of 18.8% from 2022 to 2030. While big data technologies hold the key to solving the majority of our problems and enabling future innovations, numerous challenges must be overcome quickly. The biggest issue and source of concern is the lack of privacy in big data technologies. This scenario has laid a solid foundation for big data security solutions, which will slow market growth during the forecast period. Artificial intelligence (AI) is one of the most active and popular trends in today’s business world. AI has the potential to improve patient healthcare in the coming years by speeding up diagnosis and recovery.
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Factors such as the growing significance of data-based trend analysis methods and the rapid adoption of digital technologies are expected to drive the market growth during the forecast period. Furthermore, the rise in data privacy and security concerns has also created a strong foundation for the market. Also, certain advancements within the big data techniques are estimated to propel the usage of big data analytics technology, which in turn provides a lucrative opportunity for market expansion.
Global Big Data Security Market Definition
Big data security is the collective term for all the measures and tools used to guard data and analytics processes from the attacks, theft, or other malicious activities that could harm or negatively affect them.
COVID–19 Impact on the Global Big Data Security Market
The COVID pandemic has had a positive impact on the big data security market, owing to a significant change toward the adoption of digital platforms and work-from-home policies, which has resulted in increased data production and a potential rise in cyberattacks. In such a scenario, strict policies for data storage, constant risk monitoring for breaches at both physical and digital entry points, and the use of high-quality security tools at big data farms are all essential.
Further, an increase in awareness of data privacy and safety among users will probably influence organizations to be stricter with their security policies and help the global big data security market to grow further in coming years.
Global Big Data Security Market Dynamics
Drivers: Sensitive data stored and analyzed in big data environments
Business organizations and enterprises store their consumer or client data in Hadoop for analysis and visualization, allowing them to better understand their customers’ behavior and tailor their products and operations to suit their needs.
Big data analysis of customer data gives organizations their spending patterns, types of products and services they avail, where and how do they engage with the organization’s products, and others. This data may contain personally identifiable information about their consumers. Any data that could potentially identify a particular person is identifiable information (PII). Any data that can be utilized to differentiate and deanonymize previously anonymous data between one person and another can be taken as PII. PII of a customer is considered as sensitive data and must be handled with care; big data security solutions are employed by businesses to safeguard these sensitive PIIs, which in turn drives the growth of the big data security market.
Restraints: Varying environments of big data technology
Big data environments are not similar to regular databases and storage solutions that business organizations and enterprise systems use for their data storage. Big data environments are responsible for the storage of huge amounts of data, which are needed for quick processing for the enterprise system to function effortlessly. Big data security solutions need to adapt to process and manage this huge amount of data without affecting the performance of the big data environment of the organization, this limitation makes it even more complex for business organizations to implement stronger security policies on their big data environments.
Opportunities: Ongoing advancements in big data techniques
Advancements in data warehousing and big data technologies that allow real-time processing of data promises great possibilities for the big data security market in the future. To add to this, big data security solutions providers are optimizing the platform to cater to the needs of various industries and provide support like cloud integration and hosting to provide scalability and cost-effectiveness of big data security solutions.
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Scope of the Global Big Data Security Market
The study categorizes the big data security market based on solution, deployment mode, organization size, and industry vertical at the regional and global levels.
By Solution Outlook (Sales, USD Million, 2017–2030)
- 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
By Deployment Mode Outlook (Sales, USD Million, 2017–2030)
- On-premise
- Cloud
By Organization Size Outlook (Sales, USD Million, 2017–2030)
- Large Enterprise
- Small and Medium Enterprise
By Industry Vertical Outlook (Sales, USD Million, 2017–2030)
- IT and ITES
- Telecommunications
- Healthcare and Pharmaceuticals
- Financial and Insurance
- Retail Trade
- Utilities
- Others
By Region Outlook (Sales, USD Million, 2017–2030)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- Slovenia
- Slovakia
- the Netherlands
- Belgium
- Norway
- Denmark
- Czech Republic
- Sweden
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA
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The data security analytics segment accounts for the largest market share, by solution
On the basis of solution, the big data security market is segmented as data discovery and classification, data encryption, tokenization and masking, data auditing and monitoring, data authorization and access, data governance and compliance, data security analytics, and data backup and recovery. The data security analytics segment was the highest contributor to the market, with a market share of 20.1% in the global big data security market. Security analytics is an approach to cybersecurity focused on analyzing data to activate a security process.
Hackers use a wide range of attack mechanisms that exploit multiple vulnerabilities. Some threats may remain undetermined for months. Security analytics tools can track common threat patterns and send alerts the moment a discrepancy is detected. Security analysis structures data in such a way that it provides a real and historical view of events. It provides an integrated view of threats and security breaches from the central console and allows for better planning, faster resolution, and better decision-making. There is increasing pressure on IT teams to communicate results for senior management and stakeholders. Security analytics provide a timely resolution matrix and low false positives that allow analysts to identify threats and react to security breaches, which further drives the growth of the market.
Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the global big data security market has been segmented across North America, Asia–Pacific, Europe, South America, and the Middle East & Africa. Worldwide, Asia Pacific is estimated to hold the highest CAGR of 20.9% in the global big data security market during the forecast period. Major countries considered within the market scope are China, Japan, India, South Korea, Australia, and the Rest of Asia-Pacific. One of the most serious issues with big data systems is security. Because Big Data systems are extremely difficult to manage, there is a risk of increased security. Security issues are resurfacing as a result of the integration of new technologies, and they must be addressed appropriately.
Growing virtualization across industries and cloud computing adoption are driving demand for cloud-based big data security solutions in Asia-Pacific countries like China, Japan, India, and Singapore. Furthermore, cloud-based deployment of large data security solutions can assist organizations in reducing costs associated with expensive hardware storage, power, cooling, and the depletion of IT staff required to monitor the network to eliminate IT storage costs continuously.
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Key Market Players in the Global Big Data Security Market
The global big data security market is moderately concentrated, and companies are focusing on leveraging new technologies to offer intelligent solutions to cater to the evolving end-user requirements. To enhance and develop their product portfolio, gain maximum market share, and increase market penetration, key players have used a variety of growth strategies. The market is seeing a flurry of new product launches from the major players.
Major players in the market are:
- IBM Corporation
- Amazon Web Services Inc.
- Oracle Corporation
- Microsoft Corporation
- Google LLC
- HPE
- Checkpoint Software Technologies Inc.
- Fireeye Inc.
- Talend Inc.,
- Micro Focus Plc
Recent Developments
- In March 2021, Hewlett Packard Enterprise Development LP partnered with ORock® Technologies, Inc. This partnership aims organizations to bring new capabilities to market faster and derive deeper insights from their data, all powered by HPE Ezmeral software and HPE GreenLake.
- In December 2020, Check Point Software Technologies Ltd. partnered with NHS Scotland. This partnership aims to secure and streamline the management of its public cloud data.
- In November 2020, FireEye, Inc. acquired Respond Software, the Respond Analyst’s cybersecurity investigation automation company and creator.
- In March 2020, Amazon Web Services, Inc. announced major enhancements to Amazon Macie. delivering important new features, greater availability worldwide, and substantially reduced pricing.