Big Data Security Market Size to Grow USD 54,237 Million by 2027 at a CAGR of 18.8% | Valuates Reports

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Jan 04, 2023, 10:00 ET

BANGALORE, India, Jan. 4, 2023 /PRNewswire/ -- The Global Big Data Security Market is Segmented By Solution Type (Data Discovery and Classification, Data Authorization and Access, Data Encryption, Tokenization and Masking, Data Auditing and Monitoring, Data Governance and Compliance, Data Security Analytics, Data Backup and Recovery), By Deployment Mode (On-premise, Cloud), By Organization Type (Small and Medium Enterprise, Large Enterprise), By Industrial Vertical (IT and ITES, Telecommunications, Healthcare and Pharmaceuticals, Financial and Insurance, Retail Trade, Utilities and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027.

The global big data security market size was valued at USD 13,720 Million in 2019 and is projected to reach USD 54,237 Million by 2027, registering a CAGR of 18.8% from 2020 to 2027.

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The major factor driving the growth of the big data security market:

The big data security market will expand due to factors such as the quick uptake of digital technologies and the increased importance of methodologies for data-based trend analysis. Furthermore, the market now has a solid foundation because of the surge in data privacy and security concerns. Furthermore, it is anticipated that certain developments in big data approaches would increase the use of big data analytics technology, creating profitable opportunities for market expansion.

TRENDS INFLUENCING THE GROWTH OF THE BIG DATA SECURITY MARKET

Following the COVID-19 pandemic, the market for big data security is anticipated to expand as a result of the rapid global spread of the coronavirus, which forced many organizations to adopt remote working and work-from-home models. As a result of these increased online activities and the rise in cyberattacks, massive amounts of additional raw data were produced, which fueled the development of big data security frameworks and solutions. Additionally, as a result of the unexpected increase in cybercriminal activities that targeted numerous businesses and their clients, there was an increase in demand for improved corporate asset protection, which fueled the big data security market expansion.

It is predicted that during the projected period, the exponential growth of digital data generation would continue. One of the main factors driving the demand for digital data generation is the growing use of digital devices like smartphones and PCs. The Internet of Things (IoT) and the data generated by its numerous gadgets have also grown in prominence, which has contributed to this rise in demand. Because of the enormous volume of digital data being produced, data analysts find it challenging to handle and interpret this data. Big Data tools must therefore be used to process these enormous volumes of data in order to find data trends and present visualization of this data. Big data security solutions are becoming more popular as a result of the widespread usage of big data tools and analytic solutions in contemporary business infrastructure, which will assist protect corporate data and consumer data. As a result, the big data security market has experienced rapid growth in recent years and is predicted to continue growing.

Big data security solutions are becoming more popular as a result of the widespread usage of big data tools and analytic solutions in contemporary business infrastructure, which will assist in protecting corporate data and consumer data. As a result, the big data security industry has experienced rapid growth in recent years and is predicted to continue growing.

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BIG DATA SECURITY MARKET SHARE

In order to enhance risk management and consumer marketing capabilities, many industry verticals in North America adopt huge data services. North America is the region that adopts new and cutting-edge security technology first because the majority of security providers are headquartered there. North America is therefore anticipated to rule the Big Data security market during the time of forecasting. Furthermore, it is projected that a rise in sophisticated cyberattacks will accelerate the adoption of Big Data security across a number of industries, including banking, finance, government, and healthcare.

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Key Companies:

IBM Corporation
ORACLE CORPORATION
Microsoft Corporation
Google
Amazon Web Services
HPE
Talend
Micro Focus
CheckPoint Software Technologies
FireEye

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SIMILAR REPORTS:

- Data Classification market size is projected to reach USD 1550.5 Million by 2028, from USD 642.3 Million in 2021, at a CAGR of 12.9% during 2022-2028.

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- Big Data Analytics in Healthcare market size was valued at USD 8965.4 million in 2021, and it is anticipated to reach USD 20910 million by 2028, registering a CAGR of about 12.4%.

- Big Data Pharmaceutical Advertising market size is projected to reach USD 5014.5 million by 2028, from USD 2955.8 million in 2021, at a CAGR of 7.4% during 2022-2028.

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- Storage in Big Data market size is projected to reach USD 36060 million by 2028, from USD 16500 million in 2021, at a CAGR of 11.3% during 2022-2028.

- Marine Big Data Market is estimated at USD 894.1 million in the year 2022, is projected to reach a revised size of USD 1782.8 million by 2028, growing at a CAGR of 12.2% during the forecast period 2022-2028.

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- Big data analytics in education market size was valued at USD 13.58 billion in 2020 and is projected to reach USD 57.14 billion by 2030 registering a CAGR of 15.3%.

- Big Data as a Service (BDaaS) market size is projected to reach USD 43650 million by 2028, from USD 16280 million in 2021, at a CAGR of 15.0% during 2022-2028.

- Big Data in E-commerce market size is projected to reach USD 8441.2 Million by 2028, from USD 3747.8 Million in 2021, at a CAGR of 12.1% during 2022-2028.

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