Advancements in big data techniques are expected to create lucrative opportunities in the industry.
PORTLAND, PORTLAND, OR , UNITED STATES , August 12, 2022 /EINPresswire.com/ — The global market is analyzed across solution type, deployment mode, organization size, industry vertical, and region. Based on solution type, the data security analytics segment accounted for around one-fifth of the total market share in 2019 and is expected to dominate during the forecast period. The data governance and compliance segment, on the other hand, would cite the fastest CAGR of 24.9% from 2020 to 2027.
The global big data security market was estimated at $13.72 billion in 2019 and is expected to hit $54.23 billion by 2027, registering a CAGR of 18.8% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
Increase in digitization trends and digital data production and surge in data privacy and security concerns drive the growth of the global big data security market.
Major industry players such as – Oracle Corporation, Microsoft Corporation, Fireeye Inc., Amazon Web Services Inc., HPE, Talend, Micro Focus Plc, IBM Corporation, Checkpoint Software Technologies Inc., and Google LLC.
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Based on deployment mode, the on-premise segment contributed to nearly two-thirds of the total market share in 2019, and is projected to retain its dominance by the end of 2027. At the same time, the cloud segment would exhibit the fastest CAGR of 20.5% throughout the forecast period.
Based on region, North America garnered the major share in 2019, holding nearly two-fifths of the global market. Simultaneously, the market across Asia-Pacific would register the fastest CAGR of 20.9% from 2020 to 2027. The other two provinces covered in the report include Europe and LAMEA.
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Impact of COVID-19 on Big Data Security Market:
• The outbreak of the pandemic made most organizations adopt remote working system in order to cater to the social distancing norms. This increased online activities led to increase in tons of additional raw data to be generated, thereby boosting the global big data security market.
• Also, rise in cyber-criminal activities gave way to surge in demand for improved security of confidential corporate assets, thus impacting the market positively.
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Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
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