The mounting external threats such as data corrupting viruses, hackers, and malware are increasing the need for big data security. Reports that explore the information and communication technology industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. A CAGR of 16.9 % is anticipated to bolster the market in the forecast period.
The growing volume of data, motivated by digitization necessitates high computing power systems ensuing in progressively clever attacks which are prompting the development of the big data security market. The comparatively contemporary nature of cloud computing and big data is expected to open up new areas for growth of the market for big data security. The need for monitoring IT infrastructure constantly is another significant factor promoting market growth of big data security.
Detailed Regional Analysis
The regional assessment of the big data security market has been segmented into regions such as North America, Europe, Asia Pacific, and others. As per the analysis, the North American region currently is responsible for the principal market portion, and the trend is anticipated to carry on in the foreseeable future. This development is attributable to the improved adoption rate of security information and event management (SIEM) and identity and access management (IAM) technologies. The European region is anticipated to record the fastest development for the big data security market throughout the forecast period. The market growth is accredited to the speedy development in healthcare and BFSI industry.
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 profit generation streams in the market are optimized to yield maximum benefits in the coming years. The alternatives present for growth in the market are lucrative to long term growth of the market. The current economic climate is promoting stable development in the market by favorable availability of resources. The market has accomplished a superior stride in the past couple of years, which is underscored by the events with regards to valuation. The opportunity costs in the market are not elevated and are beneficial to progress in the market. The benefits to the economy from the development of the market are high. The increase in sponsors in the market plays an essential role in the progress of the market. The reduction in the barriers to trade is anticipated to embody cutting-edge areas for expansion in the approaching years. The market is well-armed to find the way throughout the unstable tides, unforeseen turmoil, and unexplored waters in the international economy. The augmentation of the resources important to endure competition has enhanced broadly directed to a top development rate of the market.
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.
Big Data Security (BDS) Market expected to reach more than 16.9% CAGR growth forecast period…
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