With rapid industrialization and globalization, the amount of data being generated is growing exponentially. This has given a risk to the security of data more than ever, resulting in the dire need to analyze big data efficiently. Big data is developing importance in each sector of developing and developed nations rapidly, evolving as an advantage to the companies as well as the consumers. This will propel the demand in the global big data security market in the coming years.
Usage of big data is anticipated to create ripples of usefulness and surge the economic growth for the organizations. It has become a need for organizations to give powerful security to big data, fueling the market demand. Besides, humungous utilization of big data has the capability of affecting several organizations as it helps them in knowing the potential purchasers. Every one of these previously mentioned elements is expected to uplift the growth of the global big data security market.
Besides, awareness regarding big data security among the companies alongside enormous subsidizing of research and development activities for protecting big data will encourage business development. The need for improving buyer services has urged the need for protecting the big data, increasing the development of the big data security industry.
The budget for cybersecurity in new companies is deficient to carry out Advanced Threat Protection (ATP) and Next-Generation Firewalls (NGFWs) solutions. Limited funding and shortage of investments are key factors that are projected to confine the selection of big data security systems among startups in developing nations. Lesser monetary capacities lead to a deficiency of appropriate IT security framework in these organizations, bringing about the sluggish market growth and adoption of new innovations.
The global big data security market is broadly divided into end-user, software security, and region. As per the end-user, the market is bifurcated into SMEs and large enterprises. Based on software security, the global market is sectioned into data governance, encryption, data masking, access control, and security intelligence.
On the basis of geography, the global big data security market is estimated to be dominated by North America. This is due to the increased presence of players in the region, especially in Canada and the US. Besides, increasing cases of cyber-crime have also uplifted the demand in the regional market for big data security.
Symantec Corporation, Hewlett Packard Enterprise, Cisco Systems Inc., McAfee LLC, Imperva, Inc., Check Point Software Technologies, Ltd., Microsoft Corporation, Fortinet, Oracle Corporation, IBM Corporation, FireEye Inc., Gemalto N.V., Dell Technologies Inc., LogRhythm, Inc., etc. are some of the leading players in the global big data security market to name a few.
To cite, Thales and Atos announced the development of Athea, a joint project aiming to create an AI and a big data platform for private and public sector companies in the internal state security, defense, and intelligence communities.