The Market Statsville Group (MSG) publishes the new report on the “Big Data Security Market by Solution (Data Encryption, Tokenization and Masking, Data Auditing and Monitoring, Data Governance and Compliance, Data Discovery and Classification, Data Authorization and Access, Data Security Analytics, and Data Backup and Recovery), by Deployment Mode (On-premise and Cloud), by Organization Size (Large Enterprise and Small & Medium Enterprise), by Industry Vertical (Telecommunications, Healthcare and Pharmaceuticals, IT and ITES, Financial and Insurance, Retail Trade, Utilities, and Others), by Region – Global Share and Forecast to 2030“.
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% during the forecast period (2022-2030). Factors such as the rapid adoption of digital technologies and growing significance of data-based trend analysis methods have created a steep rise for the market during the forecast period. Moreover, the rise in data privacy and security concerns has also created a strong foundation for the market. Furthermore, certain advancements within the big data techniques are estimated to propel the usage of big data analytics technology, which is expected to offer a lucrative opportunity for the market. However, complexity in handling such colossal amount of data specifically for small and medium enterprises is creating a staggering effect on the market growth
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Global Big Data Security Market Segmentation
The overall big data security market has been segmented into the solution, deployment mode, organization size, industry vertical, and region.
- By Solution (Data Encryption, Tokenization and Masking, Data Auditing and Monitoring, Data Governance and Compliance, Data Discovery and Classification, Data Authorization and Access, Data Security Analytics, and Data Backup and Recovery)
- By Deployment Mode (On-premise and Cloud)
- By Organization Size (Large Enterprise and Small & Medium Enterprise)
- By Industry Vertical (Telecommunications, Healthcare and Pharmaceuticals, IT and ITES, Financial and Insurance, Retail Trade, Utilities, and Others)
- By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)
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On-premise, by deployment mode, hold the largest market share during the forecast period
Based on deployment mode, the market is divided into on-premise and cloud. The on-premise segment generated the highest revenue of 61.5% of the total global big data security market in 2021, and it is expected to register a significant CAGR from 2022 to 2030. The term “on-premises” refers to local hardware, storing data on local servers, computers, or other devices.
Many organizations are reluctant to choose on-premises data storage because of its high cost. The IT team will be responsible for ensuring the availability of services at all times and disaster recovery operations, and since the organization has full control over the entire IT department, it can constantly monitor situations and predict when and why services might be down. These factors drive the growth of the on-premise big data security market. In addition, the surge in the number of cloud cyberattacks and competition among SMEs has shifted their preference toward on-premise solutions, which are providing opportunities for the growth of big data on-premise security solutions.
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North America accounts for the largest market share in big data security market 2021
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. In 2021, North America accounted for the highest market share of 39.5% in the global big data security market. North American is analyzed across the U.S. and Canada.
Most of the security vendors are based in North America, making the region among the early adopters of new and advanced security technologies. Furthermore, increase in sophisticated cyberattacks is anticipated to drive the implementation of big data security in several verticals such as government, banking, finance, and healthcare sectors. The security ecosystem has become more complex with the widespread use of digital payments, cloud-based applications, and IoT.
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This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the big data security market. It also consists of the profiles of leading companies such as IBM Corporation, Microsoft Corporation, Google LLC, Amazon Web Services Inc., Oracle Corporation, HPE, Fireeye Inc., Talend Inc., Checkpoint Software Technologies Inc., and Micro Focus Plc.