In the post-COVID-19 scenario, the global Big Data Security Market size is projected to grow from USD 17.5 billion in 2020 to USD 35.3 billion by 2026, recording a Compound Annual Growth Rate (CAGR) of 12.4% from 2020 to 2026. The market’s growth can be attributed to the increasing awareness and rising investments in big data security solutions across global organizations operating across verticals.
Based on software, the data encryption, tokenization, and masking segment are estimated to lead the market in 2020.
Data encryption is a security method where information is encoded and can only be accessed or decrypted by users with the correct encryption key. Encrypted data, also known as ciphertext, appears scrambled or unreadable to persons or entities accessing without permission. Tokenization is the process of turning sensitive data into non-sensitive data called ‘tokens’ that can be used in a database or internal system without bringing it into scope. Data masking is a data security technique where a dataset is copied, but sensitive data is obfuscated. This copy is then used instead of the authentic data for testing or training purposes. By masking data, organizations can expose the data needed to test teams or database administrators without compromising it or getting out of compliance. The primary benefit is reduced security risks.
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Based on Vertical, IT & ITES is estimated to lead the market in 2020.
The IT and ITES vertical is growing at an unprecedented rate in North America, Europe, and APAC. However, it is one of the major targets for cyberattacks as IT and ITES companies are dealing with storage and transfer of large volumes of critical business data and the employee data, such as names, addresses, and financial transactions. The rise in penetration of cloud computing, IoT devices, BYOD, and mobile and web applications has widened the surface of cyberattacks in the IT and ITES vertical.
Major players, namely, include IBM (US), Oracle (US), Microsoft (US), Google (US), Amazon Web Services (US), Hewlett Packard Enterprise (US), Talend (US), Micro Focus (UK), Check Point (Israel), FireEye (US), Rapid7 (US), Thales (France), Informatica (US), McAfee (US), Centrify (US), Sisense (US), Imperva (US), Proofpoint (US), Varonis (US), Cloudera (US), Fortinet (US), Digital Guardian (US), SentinelOne (US), DataVisor (US), and Zettaset (US). These players have adopted various growth strategies, such as partnerships, agreements & collaborations, new product launches & product enhancements, and acquisitions to expand their presence in the zero trust security market. Partnerships, agreements & collaborations, and new product launches have been the most adopted strategies by the major players from 2017 to 2020 to innovate their offerings and broaden their customer base.
IBM (US) has been acknowledged as one of the leading vendors of big data security solutions. The company’s broad range of solutions provides security across network, endpoint, and cloud. Its next-generation IBM Security Guardium platform consists of 3 major elements – Offensive Security Services, Threat Management Services, Identity Access Management Services and Infrastructure and Endpoint Services The company offers support and maintenance and professional services, which include planning, designing, and deploying effective security solutions. IBM delivers its solutions to SMEs and large enterprises across verticals, such as government, BFSI, healthcare, retail, electric utilities, oil and gas, and education. IBM’s Big Data Security and Data Platform Services provide both custom data and analytics-as-a-service offerings for clients to gain control of data environments and start driving actionable solutions. In the big data security market, IBM offers IBM Security Guardium, big data analytics, data visualization, data management, data governance, content management, predictive analytics, data integration, and security analytics. These solutions help businesses visualize, analyze, and share insights on their performance. The company offers managed and professional services in cloud environments.
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Oracle (US) was incorporated in 1977 and is headquartered in California, US. The company caters to a broad spectrum of products, solutions, and services designed to meet requirements of corporate IT environments, such as platforms, applications, and infrastructure. It is best known for its Oracle database software that is a relational database management system. It also caters to various customers across the globe. Oracle’s product portfolio comprises autonomous databases, developer tools, engineering systems, IT infrastructure, Java, and middleware. In the big data security market, Oracle offers the Oracle Big Data Management platform that provides various algorithms to deliver data of any size and shape across organizations. The platform consists of various segments, including data science; business analytics; data integration; data management; and cloud, on-premises, and hybrid environments. The company offers data management solutions, such as Big Data Analytics, Big Data Management, and Big Data Integration. It also offers various services, including Oracle consulting, which provide businesses with solutions that help them reduce risks and maximize their business performance. In February 2020, Oracle and Microsoft expanded their cloud collaboration with a new cloud interconnect location in Amsterdam, Netherlands. The new interconnect location would enable these businesses to share data across applications running in Microsoft Azure and Oracle Cloud.
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