In the
post-COVID-19 scenario, the "Big Data
Security Market by Component, by Software, Deployment Type,
Organization Size (Large Enterprise, SMEs), Vertical, and Region (North
America, Europe, APAC, MEA, Latin America) - Global Forecast to 2026", published by MarketsandMarkets™, the Big Data Security Market size is
projected to grow from USD 17.5 billion in 2020 to USD 35.3 billion by 2026,
recording a Compound Annual Growth Rate (CAGR) of 12.4% from 2020 to 2026. The
market’s growth can be attributed to the increasing awareness and rising
investments in big data security solutions across global organizations
operating across verticals.
Browse and in-depth TOC on
“Big Data Security Market”
346 –
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Based
on software, the data encryption, tokenization, and masking segment are
estimated to lead the market in 2020.
Data encryption is a security method where information is
encoded and can only be accessed or decrypted by users with the correct
encryption key. Encrypted data, also known as ciphertext, appears scrambled or
unreadable to persons or entities accessing without permission. Tokenization is
the process of turning sensitive data into non-sensitive data called ‘tokens’
that can be used in a database or internal system without bringing it into
scope. Data masking is a data security technique where a dataset is copied, but
sensitive data is obfuscated. This copy is then used instead of the authentic
data for testing or training purposes. By masking data, organizations can
expose the data needed to test teams or database administrators without compromising
it or getting out of compliance. The primary benefit is reduced security risks.
Based on Vertical, IT & ITES is estimated to lead the market
in 2020.
The IT and ITES vertical is growing at an unprecedented rate in
North America, Europe, and APAC. However, it is one of the major targets for
cyberattacks as IT and ITES companies are dealing with storage and transfer of
large volumes of critical business data and the employee data, such as names,
addresses, and financial transactions. The rise in penetration of cloud
computing, IoT devices, BYOD, and mobile and web applications has widened the
surface of cyberattacks in the IT and ITES vertical.
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North America is expected to hold the largest market share
during the forecast period.
Most of the security vendors are based in North America, which
makes the region to be among the early adopter of new and advanced security
technologies. As a result, North America is expected to dominate the Big Data Security Market during
the forecast period. Moreover, increase in the sophisticated cyber-attacks is
anticipated to drive the implementation of big data security in several
verticals such as banking, finance, government, and healthcare sectors. With
the widespread use of digital payments, cloud based applications, IoT, security
ecosystem has become more complex. Besides, various SMBs are welcoming
disruptive work culture through services such as BYOD and work-from-home,
exposing the enterprise data prone to number of cyber-attacks.
Market Players
Major vendors in Big Data Security Market, namely, include IBM
(US), Oracle (US), Microsoft (US), Google (US), Amazon Web Services (US),
Hewlett Packard Enterprise (US), Talend (US), Micro Focus (UK), Check Point
(Israel), FireEye (US), Rapid7 (US), Thales (France),
and Informatica (US).
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