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A new market study, titled “Big Data Security Market Research ” has been featured on Market Research Future.
Big data security market is rapidly strengthening its market position by infiltrating diverse sectors with the help of digitalization. Cyber attacks have become more intense and severe, spurring the demand for big data security. The global big data security market is expecting to take a leap from its current market valuation of USD 14 bn with a 16.9% CAGR during the forecast period (2017-2023), predicts Market Research Future (MRFR). The extensive study further incorporates drivers that can make the market more intense such as the growing demand for data mining and analytics, need for security integration, and on-cloud deployment. Big data security service further includes encryption, data masking, access control, security intelligence, data governance, and others. Its growing popularity in sectors such as banking, financial services and insurance (BFSI) travel & logistics, healthcare, government, automotive, and IT & telecommunication can be seen as a decisive factor for the big data security market in coming years.
However, lack of data security awareness can dampen the market prospect of the big data security market. But emergence and inclusion of third party service provider can take the market to an altogether new direction steering it away from the momentary hiccups during the forecast period.
The global big data security market can be segmented by technology, component, deployment, organization size, and end-user.
By technology, the big data security market can be segmented into identity & access management, security information & event management, unified threat management, and intrusion detection system/ intrusion prevention system.
Based on component, the big data security market can be segmented into software and services.
By deployment, the big data security market can be segmented into on-cloud & on-premises.
Based on organization size, the big data security market includes small & medium enterprises (SMEs), and large enterprises.
Based on end-user, the big data security market can be segmented into BFSI, travel & logistics, healthcare, government, automotive, and IT & telecommunication.
Region-specific analysis of the big data security market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is leading the market with the maximum revenue share. The market is basking in the infrastructural superiority that the latest technological implementations provide. Furthermore, the region’s tendency to adopt the innovations into system is far greater than its peers which has ensured a favorable market ambience for the big data security market. The U.S. in the region is a substantial contributor and has contributed USD 3.45 billion in 2017. In addition, several market leaders are based out of this region.
The APAC is all set to score the fastest CAGR during the forecast period. With emerging economies such as India and China, exponential growth of this market has become only a matter of time. Furthermore, the market is getting tractioned by cost-effective advanced analytical software solutions and SMEs who are in need for high-security solutions.
The global big data security market is expecting strategic moves from the major market influencers which can take their market ahead. These tactical moves include merger, acquisition, and other methods which help the companies in taking steps as per their assessment of the competitive landscape.
IBM took over Vivisimo, a data discovery and navigation firm in 2018 to improve their market position. It is also buying Red Hat, a major distributor of open-source software and technology.
VMware, in 2018, has acquired Cetas Software, a startup company with a focus on cloud data analytics. VMware is planning to reshape the enterprise data technologies.
Symantec Corporation, in 2018, bought Blue Coat, a leading company that provides security to market behemoths and governments.
Eminent market players involved in this big data security market are IBM, Hewlett Packard Enterprise (HPE), Symantec Corporation, Fortinet, Check Point Software Technologies Ltd. FireEye Inc., Rapid7 Inc., Proofpoint Inc., LogRhythm Inc., and others.
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