Big data is getting sumptuous traction for several industries as data is gaining priority all around. The technology enables data collection regarding consumers and a good reading of their behavioral pattern to understand the flow of the market. But big data also comes with substantial cyber threats that is why big data security market is gaining traction. The global big data security market is expecting a hike by 16.9% CAGR during the forecast period of 2017 to 2023.
Online threats are a big deal for industries that rely heavily on big data. Hackers can divulge secrets regarding individuals or government and corporate documents, which can dampen the growth in the customer base. That is why companies are all trying for a revamping of their processes and that’s where big data security market gains ample opportunity to explore growth possibilities.
MRFR analyzes the global big data security market in detail by segmenting it into different strata. These segmentations include technology, component, deployment, organization size, and end-user. Such a segmentation creates a scope for an intense study with closer looks at different factors taking the big data security market ahead.
Based on the technology, the big data security market encompasses Security Information & Event Management (SIEM), Unified Threat Management (UTM), Identity & Access Management (IAM), and Intrusion Detection System (IDS)/Intrusion Prevention System (IPS).
Based on the component, the big data security market includes software and services. The software segment covers access control, encryption, data masking, security intelligence, and data governance, whereas, services includes professional services and managed services.
Based on the deployment, the big data security market comprises on-cloud and on-premise. The on-cloud segment is expecting high growth as organizations are going digital to improve production rate.
Based on the organization size, the big data security market can be segmented into small & medium-sized enterprises (SMEs) and large enterprises. The large enterprises segment is expected to grow substantially due to their high investment capacity.
Based on the end-user, the big data security market encompasses BFSI, automotive, healthcare, government, travel & logistics, and IT & telecommunication. The BFSI segment has substantial lead as it thrives on personal information and requires ample security to retain its customer’s trust.
North America, Europe, Asia Pacific (APAC), and Rest of the World (ROW) are four different regions that can be taken into consideration while analyzing the global big data security market.
Several companies in the big data security market are investing much to solidify their position and take the market ahead. These companies have been profiting from their strategic moves. MRFR recorded several pathbreaking moves taken by these companies to keep itself posted regarding trends that are posing substantial growth opportunities for the market. Fortinet (U.S.), Check Point Software Technologies Ltd (Israel), IBM Corporation (U.S), Hewlett Packard Enterprise Company (U.S.), Symantec Corporation (U.S.), McAfee, LLC (U.S.), LogRhythm, Inc. (U.S.), FireEye, Inc. (U.S.), Rapid7, Inc. (U.S.), and Proofpoint, Inc. (U.S).
In July 2019, the UK government announced a collaboration between industries and the government that would also include Google and Microsoft. The joint effort would invest USD 237 million to fight cyber threat that would also inspire big data security market.
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