In terms of revenue, the Global Big Data Security Market is expected to reach 35,437.68 USD Million by 2028, growing at a CAGR of 11.70% from 2022 to 2028. The past few ransomware attacks had a key impact on many of the associations operating across the globe, bringing a sense of imperativeness. Scalable solutions for data encryption security have become the requirement for businesses when redistributing technologies in big data for several analytics and data mining purposes. Rising sophistication in the techniques of attacking leaving the data vulnerable, in addition to increasing volumes of data which is generated by several enterprises is the major factor fueling the Big Data Security Market.
- The cloud segment is anticipated to hold a significant share for Big Data Security Market. The cloud solutions benefit associations with cloud-centric solutions offering, scalability, enhanced IT security, and speed. As more apps over the cloud get deployed, there is an increasing demand for cloud-centric solutions for big data security among large enterprises and SMEs.
- The large enterprise segment is anticipated to grow a significant CAGR for the Big Data Security Market. Large enterprises are adapting their architecture and security policies to include big data to conserve critical assets from several cyber-attacks. Big organizations majorly ratify big data security to safeguard endpoints, networks, devices, users, data centers, and applications from malicious ransomware attacks and unauthorized usage.
- North America is the largest regional segment. The region has the existence of several market players offering advanced solutions to different sectors in the regions. Aside from strategic investments, partnerships, geographical presence, and substantial Research & Development activities are thereby offering hefty Big data security solutions deployments. Key players like, IBM, Oracle, Microsoft, HPE, and Thales, along with various other start-ups are offering improved Big Data Security software services & solutions in the region to cater to the needs of consumers. Such factors are likely to fuel market growth.
Some of key players in Big Data Security Market includes, 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)..
The cybersecurity budget in developing startups is not enough to implement Next-Gen Firewalls and Advanced Threat Protection solutions. Limited funding and shortage of investments are major factors that are likely to restrict the big data security solutions adoption among small firms in emerging nations. Lesser financial capabilities result in a deficiency of proper infrastructure in IT security in these associations, resulting in the slow adoption of enterprise security solutions and new technologies. Small enterprises are weighed down with the suitable management of budget funds for business continuity planning and several operational challenges.