Big Data Security Market worth $35.3 billion by 2026 - Exclusive Report by MarketsandMarkets™

Big Data Security Market worth $35.3 billion by 2026 - Exclusive Report by MarketsandMarkets™

In thepost-COVID-19 scenario, the "Big DataSecurity Market by Component, by Software, Deployment Type,Organization Size (Large Enterprise, SMEs), Vertical, and Region (NorthAmerica, Europe, APAC, MEA, Latin America) - Global Forecast to 2026",  published by MarketsandMarkets™, the Big Data Security Market size isprojected 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. Themarket’s growth can be attributed to the increasing awareness and risinginvestments in big data security solutions across global organizationsoperating across verticals.

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Basedon software, the data encryption, tokenization, and masking segment areestimated to lead the market in 2020.

Data encryption is a security method where information isencoded and can only be accessed or decrypted by users with the correctencryption key. Encrypted data, also known as ciphertext, appears scrambled orunreadable to persons or entities accessing without permission. Tokenization isthe process of turning sensitive data into non-sensitive data called ‘tokens’that can be used in a database or internal system without bringing it intoscope. Data masking is a data security technique where a dataset is copied, butsensitive data is obfuscated. This copy is then used instead of the authenticdata for testing or training purposes. By masking data, organizations canexpose the data needed to test teams or database administrators withoutcompromising it or getting out of compliance. The primary benefit is reducedsecurity risks.

Based on Vertical, IT & ITES is estimated to lead the marketin 2020.

The IT and ITES vertical is growing at an unprecedented rate inNorth America, Europe, and APAC. However, it is one of the major targets forcyberattacks as IT and ITES companies are dealing with storage and transfer oflarge volumes of critical business data and the employee data, such as names,addresses, and financial transactions. The rise in penetration of cloudcomputing, IoT devices, BYOD, and mobile and web applications has widened thesurface of cyberattacks in the IT and ITES vertical.

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North America is expected to hold the largest market shareduring the forecast period.

Most of the security vendors are based in North America, whichmakes the region to be among the early adopter of new and advanced securitytechnologies. As a result, North America is expected to dominate the Big Data Security Market duringthe forecast period. Moreover, increase in the sophisticated cyber-attacks isanticipated to drive the implementation of big data security in severalverticals such as banking, finance, government, and healthcare sectors. Withthe widespread use of digital payments, cloud based applications, IoT, securityecosystem has become more complex. Besides, various SMBs are welcomingdisruptive 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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