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.
On the basis of regional analysis the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America region is generating highest market share in the big data security market owing to better network infrastructure, digitization and higher technology implementation. Digitization in North America is mainly due to the invention of advanced technology and economies benefitting from it. North America region is leading due to presence of major players from the region in the big data security market. The implementation of big data software security solutions by both small and medium enterprises is increasing rapidly, especially one into banking and finance. The big data security is gaining demand as organization seek to increase their business productivity by shifting from on-premise to cloud based. The initial low cost, saving amount spent on infrastructure, automatic software upgrading and seamless integration is driving the market of cloud based Big Data Security solution.
Big Data Security (BDS) Market expected to reach more than 16.9% CAGR growth forecast period…
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