Big Data Security Global Market Report 2024

Big Data SecurityThe big data security refer to the tool which protects the data and the analytics processes from attacks, theft, or other malicious activities. Big data security boosts the security of non-relational data scores and helps to implement endpoint security.

The main types of components in big data security are solutions and services. The big data security services are designed for protecting critical business data from undesired access or mishandling, and secure a large volume of files from deletion, viruses, and theft. The different deployment modes include on-premises and cloud and involve various organizations such as small, medium enterprises, and large enterprises. It is employed in several sectors including banking, financial services, and insurance (BFSI), manufacturing, IT and telecommunication, aerospace and defense, healthcare, and others.

The big data security market research report is one of a series of new reports that provides big data security market statistics, including big data security industry global market size, regional shares, competitors with a big data security market share, detailed big data security market segments, market trends and opportunities, and any further data you may need to thrive in the big data security industry. This big data security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The big data security market size has grown rapidly in recent years. It will grow from $31.33 billion in 2023 to $35.46 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to rapid growth of big data adoption, regulatory compliance requirements, proliferation of data sources, complexity of big data ecosystems, awareness of data breach consequences.

The big data security market size is expected to see rapid growth in the next few years. It will grow to $61.97 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to zero trust security models, container security, data residency and sovereignty, enhanced data access governance, advanced persistent threats. Major trends in the forecast period include integration of ai and machine learning, collaboration of security and devops, enhanced threat intelligence sharing, collaboration with cybersecurity service providers, edge computing security challenges.

The rising cyberattacks are expected to propel the growth of the big data security market going forward. A cyberattack is a malicious and deliberate effort by an individual or organization to breach the data of another individual or business. Big data security helps in controlling cybercrimes by securing the data, as a result, the rise in cyberattacks will increase the demand for the big data security market. For instance, in 2022, according to Packetlabs, a Canada based Computer security service company, 79% of financial CISOs have reported that threat actors are utilizing more sophisticated cyberattacks annually. Therefore, the rising number of cyber-attacks drives the growth of the big data security market.

Rising remote workforce expected to propel the growth of the big data security market going forward. A remote workforce, also referred to as a remote or distributed team, is a group of employees or workers who perform their job duties and tasks from a location outside of a traditional office setting. The shift towards remote work arrangements has heightened the demand for secure remote access, data encryption, and endpoint security solutions to protect sensitive information. For instance, in June 2023, According to Upwork, American freelancing platform, by 2025, an estimated 32.6 million Americans will be working remotely, which equates to about 22% of the workforce. Therefore, the rising remote workforce drives the growth of the big data security market.

Technological advancements have emerged as a key trend gaining popularity in the big data security market. Major companies operating in the big data security sector are focused on developing new technological solutions to meet consumer demand and strengthen their position. For instance, In September 2023, IBM, a US-based technology corporation, announced the launch of IBM security services for Multi cloud, a suite of modernized cloud security and compliance solutions designed to help enterprises mitigate risk and protect data across their hybrid, multicloud environments and workloads.

Major companies are strategically entering partnerships and collaborations with start-ups and mid-sized companies in the big data security market to broaden the products and services offered by the company. Strategic collaborations and partnership agreements help companies expand their existing product portfolio and geographical reach. For instance, in July 2022, Seclore, a US-based the data security software company, announced a partnership with TD SYNNEX. This partnership will enable enterprises to access complete solutions to solve their data protection challenges with real-time tracking and visibility of both authorized and unauthorized activity on the data to identify suspicious behaviour, evolve data security policies, take immediate action on security permissions, and even complete removal to prevent data loss. TD SYNNEX is US-based IT solutions aggregator that provides information technology services to businesses.

In September 2022, Google LLC, a US-based multinational technology company acquired Mandiant Inc for a deal of $5.4 billion. Through this acquisition, Google LLC aims to expand its cybersecurity and hybrid-cloud capabilities. Mandiant Inc is a US-based provider of cybersecurity services and software.

Major companies operating in the in the big data security market report are Check Point Software Technologies Ltd., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Google LLC, Amazon Web Services Inc., Hewlett Packard Enterprise Company LP, Centrify Corporation, Talend S. A., FireEye Inc., Rapid7 Inc., Thales Group, McAfee corp., Zettaset Inc., Imperva Inc., LogRhythm Inc., Fortinet Inc., Sisense Ltd., Cisco Systems Inc., Varonis Systems Inc., Informatica LLC, Palantir Technologies Inc., Cloudera Inc., Teradata India Pvt. Ltd., Splunk Inc., Proofpoint Inc., Gigamon Inc., Zscaler Inc., F5 networks india pvt. Ltd., Darktrace Limited

North America was the largest region in the big data security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the big data security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the big data security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The big data security market includes revenues earned by entities by providing software tools that automate the processes for protecting company data, avoiding data loss due to illegal, safeguarding data against assaults, and guarantees that information is accessible to all members of the organization whenever needed. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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