Big Data Security Market Share is expected to reach approximately USD 25 Billion by 2023 (Covid-19 Analysis)

Big Data Security Market Share

The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Big Data Security Market Share. The growth sectors of the Big Data Security Market Share are identified with precision for a better growth perspective.

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 Market Segmentation

The segmentation on the basis of deployment includes cloud and on-premise. Cloud solution accounts for highest market share as it helps enterprises by minimizing cost associated with the IT infrastructure. Cloud solution enables enterprise to focus on core business competencies. It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to managing and coordinating business activities and helps in increasing the overall business productivity.

The prominent players in the big data security market are – IBM (U.S.), Hewlett Packard Enterprise (HPE) (U.S.), Mcafee LLC (U.S.), Symantec Corporation (U.S.), Check Point Software Technologies Ltd. (Israel), Fortinet, Inc. (U.S.), Fireeye, Inc. (U.S.), Rapid7, Inc. (U.S.), Logrhythm, Inc. (U.S.), Proofpoint, Inc. (U.S.) among others.

Market Research Analysis:

The big data security market in North America region is growing due to high adoption of cloud solutions by enterprise and need to improve data security in organizations. Changing banking regulation, that requires changes in documents and financial transaction is driving the market in the region. According to the study, the big data security market will show considerable growth Europe region. Asia-Pacific market is estimated to be one of the fastest growing market as enterprises are continuously investing into research and development of big data security market. Increasing IT landscape is boosting the market in the region. Developing countries such as India and China are adopting big data security software at a large scale owing to increasing IT infrastructure, digitization and robust industrialization that is boosting the market in the region. By vertical segment, BFSI and healthcare sector is driving the big data security market. The region is witnessing high growth in big data security market due to growing technological advancement in cloud, analytics and increasing cyber-attacks.

Regional Analysis:

North America, Europe, Asia Pacific (APAC), and Rest of the World (ROW) are four different regions that can be taken into consideration while analyzing the global big data security market.

North America has the dominance in the global big data security market as it is experiencing a surge in the adoption and development of cloud-based technologies and platforms. The U.S. had the lead and was valued at USD 3.45 billion in 2017. The region incorporates latest technologies all the time to stay ahead in the race. Several market players are also turning up the heat for the regional market.

Meanwhile, the APAC has the potential to emerge as the fastest during the forecast period as its expenditure for cutting-edge technologies in countries, such as India and China, are rising. The region is also thriving due to cost-effective processes and high integration among SMEs. The assessment period is expected to market high growth.

Competitive Landscape:

Several companies in the big data security market are investing much to solidify their position and take the market ahead. These companies have been profiting from their strategic moves. MRFR recorded several pathbreaking moves taken by these companies to keep itself posted regarding trends that are posing substantial growth opportunities for the market. Fortinet (U.S.), Check Point Software Technologies Ltd (Israel), IBM Corporation (U.S), Hewlett Packard Enterprise Company (U.S.), Symantec Corporation (U.S.), McAfee, LLC (U.S.), LogRhythm, Inc. (U.S.), FireEye, Inc. (U.S.), Rapid7, Inc. (U.S.), and Proofpoint, Inc. (U.S).

In July 2019, the UK government announced a collaboration between industries and the government that would also include Google and Microsoft. The joint effort would invest USD 237 million to fight cyber threat that would also inspire big data security market.

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