Big Data Security Market Forecast to Reach $28.2 Billion by 2026

(I-SoftwareNews.Com, September 30, 2021 ) The Market for Big Data Security is forecast to reach $28.2 billion by 2026, growing at a CAGR of 10.3% from 2021 to 2026 due to rapid increase in consumer and machine data developments particularly related to cybersecurity and security intelligence. Big Data is referred as the collection of data sets with large and complex that it is not possible to process it in traditional way. In Big Data Security, companies collects the data from respective clients to analyze the data for identification of the business problem where data strategist and data analyst analysis it to obtain the optimum solution and implementing the solution. The market is driven by rising consumer data, superior information security, and enhanced business efficiencies. A number of security capabilities are being adopted in big data security such as data masking, identity and access management, unified threat management, advanced threat protection and encryption.

Big Data Security Market Segment Analysis - By Type

The market is segmented into application segment includes Software Solutions and services. Solutions are further divided into Data Discovery, Data Authorization and Access, Data Encryption, Data Auditing and Monitoring, Data Security Analytics, Data Backup and Recovery and Others. The data discovery segment held the largest market revenue share in 2020 at 22.9%, and expected to lead in coming years due to growing demand for security intelligence and cyber security in big data applications. Big data has brought boon as well as bane to Big Data Security enterprises. Non-expertise personal, non-awareness among SME’s, minimal Investment on data analytics by SME’s, infrastructure, non-positive response from clients and storage of data are some of the challenges that Big Data Security enterprises are coming through. A number of security capabilities are being adopted in big data security such as data masking, identity and access management, unified threat management, advanced threat protection and encryption.

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Big Data Security Market Segment Analysis - By End Use Industry

Among all end use industries, automotive is the leading segment due to growing adoption of high tech vehicles. Huge amounts of constantly changing data that is difficult to handle but is of enormous value on the analysis of which we can provide new and improved user experience, is “big data.” In the automotive industry, this data can improve driver safety and experience, and in short provide better and safer vehicle services. Further the increase of electronics and usage of different services, generates the data in large amount which is known as Big Data and these data cannot be secured by traditional way so the Big Data Security provides such services such as encryption, data masking and identity and cess management with analytical advice for the growth of business which will increase the demand of such service in near future.

Big Data Security Market Segment Analysis - By Geography

North America held the foremost market revenue share for Big Data Security market since and is predicted to emerge during forecast period growing at CAGR of 9.1%. The high adoption of analytics consulting across countries such as the U.S., Mexico and Canada has helped the market to grow exponentially. However, Asia-Pacific is expected to register the highest growth rate during the forecast period due to the increasing amount of data generation as well as high interest across the region.

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Big Data Security Market Drivers

Rising Consultancy surrounding development of Big Data Architecture

Big Data Security advices the organization about the Big Data, strategy, implementation and technology which best fit to the organization to manage the Data sets. Across the world many different Big Data projects were taken up to create many Big Data models, frameworks and new technologies to provide more storage capacity, real time analysis and parallel processing of different large amount of data from heterogeneous source. Big Data Security Market consist two main strategist such as Data Strategist/Architect and Data Scientist/Analyst whose role is to identify the business problems, defining the solution, optimizing the solution and implementing the solution. This will drive the market.

Rising Amount of Data Generated by Organizations

One of the current trends in the Big Data Security Market can be attributed to its popular and is in demand due to the rising storage capacity in terms of Terabyte and Petabyte of Big Data generated by the organizations. It is widely used because it can handle large amount of data and keep scaling to keep up growth and can provide input and output data to analytical tools for analysis. Big Data challenges include storage of data, capturing data and analyzing data. These can be done by few analytical tools such as Apache Hadoop, NoSQL, JAQL, Hive and others. Out of these tools Apache Hadoop is widely used and is in trend due to its storage capacity, Hadoop file storage system which can split data and can distribute across many nodes thus providing high availability. All these aspects are making Big Data Security market face higher adoption and can expect the growth of this market, as more and more organization are looking forward for alternative tool or cloud storage to store its generated data to analyze it and make corrective approach to generate revenue.

Big Data Security Market Challenges

Concerns Regarding Data Privacy

The biggest challenge with Big Data is the sensitive issue of data privacy and security, which most organizations are facing. With the implementation of GDPR regulations, consumer data privacy issues have been put to the forefront. Privacy concerns are cropping up as companies feed more and more consumer and vendor data into advanced, AI-fuelled algorithms to create new bits of sensitive information, unbeknownst to affected consumers and employees. This is especially prevalent in the BFSI sector, where consumer data collection has been at the forefront in terms of big data challenges. These data privacy concerns will hinder the adoption of Big Data Security solutions.

Big Data Security Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Big Data Security Market. Accenture, Amazon Web Service, Dell, HP, IBM, Oracle, SAP, Teradata Corporation and others are considered to be the key players of the Big Data Security Market.

Acquisitions/Technology Launches/Partnerships

In December 2020, NuWave Solutions Acquired BigBear, a Leading Provider of Big Data Analytics Solutions to the National Security Community

In May 2020 Accenture acquired Byte Prophecy, an automated insights and big data analytics company from India. The acquisition will help Accenture meet what it sees as growing demand for enterprise-scale AI and digital analytics solutions across the region. As part of the deal, nearly 50 data science and data engineer experts will join Accenture Applied Intelligence, the global IT consulting firm’s team and service for artificial intelligence, data, analytics and automation.

Key Takeaways

The expansion of the Internet of Things (IoT) has added numerous new sources of Big Data into the Data Management background and is one of the major trends in the forecast period.

Use of Business Intelligence (BI) from the cloud will increase, and the on-going advancement in improved data visualization models and self-service software will be seen in analytics.

AI and Machine Learning technology are moving at a faster pace and helping businesses transform, through cases like real-time ads, pattern recognition, malfunction detection, etc. Working on traditional algorithm of machine learning will become faster and more accurate helping enterprises to make more appropriate decisions. This major change will help the market to continue its growth in the coming decade.

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Source: EmailWire.Com

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Big Data Security Market Forecast to Reach $28.2 Billion by 2026