The Worldwide Big Data Security Industry is Expected to Grow at a CAGR of 12.4% Between 2020 to 2026 – ResearchAndMarkets.com | Financial Buzz

The Worldwide Big Data Security Industry is Expected to Grow at a CAGR of 12.4% Between 2020 to 2026 – ResearchAndMarkets.com

The “Global Big Data Security Market by Component, Software, Deployment Type, Organization Size (Large Enterprise, SMEs), Vertical, and Region (North America, Europe, APAC, MEA, Latin America) – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

In the post-COVID-19 scenario, the global big data security market is projected to grow from USD 17,558 million in 2020 to USD 35,364 million by 2026, recording a Compound Annual Growth Rate (CAGR) of 12.4% from 2020 to 2026.

By deployment, the cloud segment is estimated to hold a larger market size than the on-premises segment in 2020

Unlike traditional on-premises deployment mode, cloud-based big data security solutions provide with a cost effective approach for the enterprises across various industry verticals to enhance security. Pricing is one of the major differentiating factors in the adoption of cloud-based security solution over on-premises security solutions. Growing virtualization across industries and adoption of cloud computing is promoting the demand for cloud-based big data security solutions in various countries.

Moreover, cloud-based deployment of big data security solutions can help organizations to reduce costs associated with expensive hardware equipment for storage, power, cooling as well as lowers the IT personnel required to monitor the network further eliminating the IT maintenance costs. Cloud deployments are suitable for small and medium businesses that usually have a limited budget allocated for securing critical assets from cyberattacks.

The Asia-Pacific market is expected to register the highest growth rate during the forecast period

APAC comprises of few largest economies in the world such as China, Singapore, Japan, Australia. The increasing economic importance of these countries has prevailed vast amount of data transmitted across networks that are prone to security breaches. The threat landscape is driven by necessary measures required to aid support to several industry verticals at an alarming rate. Increased number of alerts and threats combined with comparatively shortage in staffs is resulting in 50% of threats going undetected.

Big Data Security solutions is expected to surge the efficiency of security solutions by preventing low-level incidents, considering each user as a hostile network. Owing to the high digital connectivity, contrasted with the low cybersecurity awareness, growing cross-border data transfers, and weak regulations, Asia-Pacific region is anticipated to boost the demand for big data security solution over the forecast period.

Market Dynamics

Drivers

  • Increasing Focus on Data Discovery Solutions and the Centralization of Key Management to Strengthen Big Data Security
  • Rising Cyberattacks Demand for Scalable Big Data Security Solutions
  • Accretion in BYOD Trends to Boost the Demand for Big Data Cloud Security

Restraint

  • Low Big Data Security Budget and High Installation Cost

Opportunities

  • Adoption of AI- and ML-based Applications to Increase the Demand for Big Data Security Solutions
  • Growing Demand for Big Data from SMEs

Challenges

  • Discovering Sensitive Data at Scale During Data Ingestion
  • Lack of Security Expertise and Skilled Personnel

Companies Mentioned

  • Amazon Web Services (AWS)
  • Centrify
  • Check Point
  • Cloudera
  • Datavisor
  • Digital Guardian
  • Fireeye
  • Fortinet
  • Google
  • HPE
  • IBM
  • Imperva
  • Informatica
  • McAfee
  • Micro Focus
  • Microsoft
  • Oracle
  • Proofpoint
  • Rapid7
  • Sentinelone
  • Sisense
  • Talend
  • Thales
  • Varonis
  • Zettaset

For more information about this report visit https://www.researchandmarkets.com/r/syg39l

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