According to MRFR, the global big data security market recorded USD 35.71 billion in 2020 and is projected to exhibit a CAGR of 17.10% over the review period (between 2020 and 2030). Big Data Security is the collective term for all the measures and tools used to guard both the data and analytics processes from attacks, theft, and unauthorized access. This includes measures such as firewalls, strong user authentication, end-user training, encryption, and data access controls. Additionally, organizations should ensure that their Big Data solutions are compliant with relevant data protection regulations, such as GDPR and CCPA, to ensure that data is kept secure and confidential.
It is forecast that the rising demand for suitable high-security solutions will push the expansion of the big data security market in the coming period. The rising demand for security service providers managed by third parties is likely to promote the big data security market in the coming years. The reinvention of supply chains by integrating robust technology into them is estimated to spur market expansion in the period ahead. It is projected that the state of technical growth is unprecedented as the growth of the global economy is at a near standstill. The effect of unpredictable events has created significant barriers which need to be addressed appropriately and overcome to achieve normalcy in the global market. It is projected that developing a significant competitive edge would fuel market growth over the forecast period. In the imminent timeframe, the government’s inducements are expected to show a positive impact on the overall business growth. It is projected that the need to invest in creating a strong customer base would rate among business leaders’ top priorities for the time ahead. The deterioration of trade networks is expected to pose new obstacles that must be expediently resolved in the coming years. Regulations in different countries should be used to slowly regain consumer dominance in the future.
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Big data protection market segment evaluation is performed based on part, size of the enterprise, implementation, technology, and end-user. Big data protection industry segmentation end-user base is segmented into transportation & logistics, automobile, healthcare, business, BFSI, and IT & telecommunication. Software and services form the component base for segmenting the big data security industry. The tech section is sub-segmented further into computer information, access control, cryptography, data masking, and device protection. The Big Data Security market is split into on-cloud and on-premise based on deployment. Based on the technology, the Big Data Security market is segmented into the Unified Threat Management (UTM), Security Information and Event Management (SIEM), Identity and Access Management (IAM), and IDS / Intrusion Prevention System ( IPS). Based on the sizes of the company, the Big Data Protection market is divided into SMEs & large enterprises.
The key market players of the global big data security market are Fortinet (U.S.), Check Point Software Technologies Ltd (Israel), Hewlett Packard Enterprise Company (U.S.), IBM Corporation (U.S), McAfee, LLC (U.S.), Symantec Corporation (U.S.), FireEye, Inc. (U.S.), Rapid7, Inc. (U.S.), LogRhythm, Inc. (U.S.), and Proofpoint, Inc. (U.S).
The regional study notes that because of the growing introduction and growth of cloud-based technology and applications in the world the North American region dominates the big data protection sector. For 2017, the US leads the market with USD 3.45 billion in sales. The region is prone to the fast and elevated approval of the newest in technological development, which has amplified the demand for appropriate and scalable high-security solutions. The emergence of more than a few market-leading companies is likely to guide opportunities for business growth and ultimately development through the forecast period. Due to increasing spending on cutting-edge technology in nations such as India and China, the Asia-Pacific region is projected to expand at the fastest pace over the forecast era. In addition, the need for profitable advanced analytical analysis solutions and services among the many SMEs has resulted in the need for high-security solutions.
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