The big data security market is projected to be valued at USD 20,418.4 million in 2023 and is expected to rise to USD 72,652.6 million by 2033. The sales of big data security are expected to record a significant CAGR of 13.5% during the forecast period.
Ongoing developments, such as big data integration with networking and security, as well as the incorporation of machine learning and artificial intelligence, are expected to propel the big data security market to new heights.
Businesses in all industries are expected to purchase algorithms rather than software and customize them to their specific needs, giving them greater flexibility and security assurance. This may stimulate market growth.
In today's fast-paced world, storing personal data securely has become the most difficult task for large organizations. With technological advancements, even cyber security attacks are becoming more sophisticated, eluding all traditional security tools, resulting in a demand for advanced protection techniques such as big data security.
Big data security is simply a tool for securing massive amounts of data held by large enterprises. Large enterprises with thousands of employees must secure large amounts of personal data about their employees and customers and manage it to analyze and predict security incidents.
Big data security has a significant revenue share in the security markets. Furthermore, the market is expected to grow at a healthy CAGR as businesses continue to grow in size. As the enterprise grows, so the employees and customers, affecting the data volumes generated by the company and raising the need to maintain and secure the data.
| Attribute | Details |
|---|---|
| Market Estimated Size (2023) | USD 20,418.4 million |
| Market CAGR (2023-2033) | 13.5% |
| Market Forecasted Size (2033) | USD 72,652.6 million |
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The global demand for big data security is projected to increase at a CAGR of 13.5% during the forecast period between 2023 to 2033, reaching a total of USD 72,652.6 million in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 11.4%.
Significant growth in the information technology (IT) sector is driving the global market. Along with this, the rise in cyberattacks and data thefts worldwide has prompted many businesses to invest heavily in deploying effective security systems, which is boosting market growth.
Continuous technological advancements are creating a positive market outlook. The widespread integration of machine learning (ML) and artificial intelligence (AI) technologies with big data security solutions, for example, is positively impacting market growth. Other factors, such as an increase in data generation and extensive research and development research and development activities by key players, are expected to drive market growth even further.
Rising Cyber Attacks Globally to Promote Market Growth
The use of targeted attacks to penetrate targets' network infrastructure while remaining anonymous has recently increased. Endpoints, networks, on-premises devices, cloud-based apps, data, and other IT infrastructures are typically targeted by attackers who know exactly who they're going after. The primary goal of targeted attacks is to gain access to the network of the targeted businesses or organizations and steal sensitive data.
Business disruption, intellectual property loss, financial loss, and the loss of sensitive customer information are all negative consequences of these targeted attacks on enterprises' most critical operations. Cyberattacks on specific companies have an impact on their local and international clients. Attackers steal PII, which includes names, phone numbers, addresses, license numbers, and social security numbers.
As a result, security breaches and identity theft occur. Therefore, such cyber attacks increase the demand for scalable big data security solutions, boosting the market's overall growth.
Advancements in Technological Breakthroughs to Drive the Market Growth
Targeted cyberattacks have an impact on the targeted companies as well as their local and international clients. Attackers steal Personally Identifiable Information (PII), which includes names, phone numbers, addresses, license numbers, and social security numbers. This results in security breaches and identity theft. As a result, such cyber-attacks raise the demand for scalable big data security solutions, boosting the market's overall growth.
With the advancement of technology, a significant amount of research and development is being conducted in this field, which is anticipated to drive market growth. Furthermore, cloud solutions for big data security are cost-effective and accessible globally. They can be accessed from anywhere, anytime, due to the minimal hardware required. Because of these factors, cloud technologies greatly simplify the process of securing and managing data, propelling the growth of the big data security market.
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Identifying and Analyzing Sensitive Information as well as Costly Installation to Impede Market Growth
In contrast to structured data, which is housed within well-protected IT perimeters, sensitive content appears in unstructured formats, such as office documents, files, or photographs, and is disseminated and published through file sharing, social media, and email.
Organizations are no longer just concerned with sensitive data accumulated primarily on-premises, thanks to the rapid adoption of cloud computing and the rise in remote workers. At the moment, sensitive data can reside in various locations and travel through various channels.
Finding and analyzing sensitive data among the structured and unstructured data collected from various sources has become a key concern, which is expected to stymie market growth. Moreover, young start-ups' cybersecurity budgets need to be increased to implement Next-Generation Firewalls (NGFWs) and Advanced Threat Protection (ATP) technologies. Small businesses in emerging economies are expected to need more support in their adoption of big data security solutions due to several key concerns, including a dearth of capital and limited investment.
Of a dearth of adequate IT security infrastructure due to limited financial resources, these businesses gradually implement new technologies and enterprise security solutions. Small businesses face challenges in managing planned budget funds for various operational challenges and business continuity planning.
Cloud Deployment Remain Highly Sought-After in the Big Data Security Market, Witnessing a Value Share of 58.3% in 2022
By deploying them on-premises, organizations may gain more control over all big data security solutions, including next-generation firewalls and intrusion prevention systems. On the other hand, cloud deployment models for big data security solutions benefit enterprises by providing speed, scalability, and improved IT security. As more applications are delivered via the cloud, there is a growing demand for cloud-based big data security solutions among SMEs and large corporations.
Factors such as improved security measures and increased cybersecurity awareness may accelerate overall market growth during the forecast period. Furthermore, the increasing volume of business data generated from multiple sources is expected to drive the big data security market growth rate.
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The BSFI is a Key Vertical, Acquiring 30.5% of the Global Market
On the basis of vertical, the big data security market is segmented into BFSI, Government, energy & utilities, healthcare, manufacturing, retail, Telecom & IT, transportation & logistics, and others. During the forecast period from 2023 to 2033, the BFSI segment holds a leading market share.
The elements that contribute to its cost-effectiveness and ease of use, several FinTech firms frequently use big data solutions for operations, supply chain optimization, and risk management. Moreover, the retail segment is likely to accelerate during the forecast period. The increasing adoption of cloud-based solutions in the retail industry to optimize in-store operations and employee performance is expected to drive segment growth.
High Penetration of Security Solutions for Creating Opportunities for Big Data Security manufacturers
North America is likely to command the big data security market from 2023 to 2033 due to the region's early adoption of technologies and high penetration of security solutions. Furthermore, increased enhanced security measures are expected to accelerate the expansion over the forecast period. The region's businesses are increasingly adopting IoT devices.
Organizations, particularly in the United States, have begun to use big data solutions to generate data insights for strategic business decisions and market competitiveness, and ongoing projects may expand the market in the North American sphere. Thus, for the aforementioned reasons, North America is expected to possess a 32.2% market share in 2022, registering a CAGR of 13% for the big data security market from 2023 to 2033.
Increasing Amount of Data favoring the market growth
The amount of data on the planet is growing by leaps and bounds, and it has become a critical concern for effectively analyzing this big data. According to reports, data analysis has gained importance in each domain and has played a significant role in production activities, along with capital investment and labor.
Every year, big data adds value to every sector in both developed and developing countries. For example, big data results in value creation for the public sector and the manufacturing sector in Europe. Aside from that, big data provides enormous benefits to both consumers and businesses. As a result, it has become necessary to provide assurance to big data, which drives market trends in Europe. Thus, Europe is expected to hold 24.8% of the market share for the big data security market in 2022, recording a CAGR of 12.7% in the forecast period 2023 to 2033.
High Digital Connectivity Fueling Rapid Adoption
Due to factors such as high digital connectivity, cybersecurity awareness, and increased data transfer across borders within the region, Asia Pacific is expected to grow significantly between 2023 and 2033.
The production of digital data has increased dramatically over the last few decades, and this trend is expected to continue, providing lucrative opportunities to the market. One of the primary causes of this increase in digital data generation is the increasing daily use of digital devices such as smartphones and laptop computers.
The growing popularity of the Internet of Things (IoT) and the data produced by various IoT devices have also contributed to this data boom. It can be difficult for data analysts to evaluate and make sense of massive amounts of digital data output. Big data technologies must be deployed in order to handle these massive amounts of data, discover data trends, and communicate these massive amounts of data. Thus, Asia Pacific is expected to procure a 19% market share for the big data security market in 2022, recording a CAGR of 12.5% in the assessment period 2023 to 2033
Oracle Corporation, Microsoft Corporation, Symantec Corporation, IBM Corporation, Amazon Web Services, Hewlett Packard Enterprise, Mcafee, LLC, Check Point Software Technologies Ltd., Imperva, Inc., and Dell Technologies are the leading vendors in the global big data security market. To gain a competitive advantage, key market vendors invest heavily in Research and Development and continuous technological innovations to detect malicious attacks.
Recent Developments in the Big Data Security Market
In August 2022, Anaconda and Oracle announced a strategic cloud partnership to enable seamless, secure open-source innovation in the cloud.
In August 2022, Barclays used Microsoft Teams as its preferred collaboration platform around the world to improve connectivity for its employees.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 13.5% from 2023 to 2033 |
| Base Year of Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and Volume in Units and F-CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered |
Deployment, Vertical, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; The Middle East & Africa; Oceania |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | Oracle Corporation; Microsoft Corporation; Symantec Corporation; IBM Corporation; Amazon Web Services; Hewlett Packard Enterprise; MacAfee LLC; Check Point Software Technologies Ltd.; Imperva Inc.; Dell Technologies |
| Customization & Pricing | Available upon Request |
In 2023, the overall market is estimated to generate a revenue size of USD 20,418.4 million.
The cloud deployment segment generated 58.3% of the total market demand in 2022.
Presence of many IT giants resulted in 32.3% market share from North America in 2022.
Overall Europe market had a total market share of 24.8% in the year 2022
Booming IT sector is poised to impart 12.5% growth rate on Asia Pacific through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment 5.1. Cloud-based 5.2. On-Premise 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Verticals 6.1. BFSI 6.2. Government 6.3. Energy & Utilities 6.4. Healthcare 6.5. Manufacturing 6.6. Retail 6.7. Telecom & IT 6.8. Transportation & Logistics 6.9. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Oracle Corporation 17.2. Microsoft Corporation 17.3. Symantec Corporation 17.4. IBM Corporation 17.5. Amazon Web Services 17.6. Hewlett Packard Enterprise 17.7. MacAfee LLC 17.8. Check Point Software Technologies Ltd. 17.9. Imperva Inc. 17.10. Dell Technologies 18. Assumptions & Acronyms Used 19. Research Methodology
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Big Data Security Market
