According to the report published by Portland (OR) based research firm Allied Market Research, the global big data security market was estimated at $13.72 billion in 2019 and is expected to hit $54.23 billion by 2027, registering a CAGR of 18.8% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
Increase in digitization trends and digital data production and surge in data privacy and security concerns drive the growth of the global big data security market. On the other hand, presence of huge data to be analyzed impedes the growth to some extent. However, advancements in big data techniques are expected to create lucrative opportunities in the industry.
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The global big data security market is analyzed across solution type, deployment mode, organization size, industry vertical, and region. Based on solution type, the data security analytics segment accounted for around one-fifth of the total market share in 2019 and is expected to dominate during the forecast period. The data governance and compliance segment, on the other hand, would cite the fastest CAGR of 24.9% from 2020 to 2027.
Based on deployment mode, the on-premise segment contributed to nearly two-thirds of the total market share in 2019, and is projected to retain its dominance by the end of 2027. At the same time, the cloud segment would exhibit the fastest CAGR of 20.5% throughout the forecast period.
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Based on region, North America garnered the major share in 2019, holding nearly two-fifths of the global market. Simultaneously, the market across Asia-Pacific would register the fastest CAGR of 20.9% from 2020 to 2027. The other two provinces covered in the report include Europe and LAMEA.
The key market players analyzed in the global big data security market report include Oracle Corporation, Microsoft Corporation, Fireeye Inc., Amazon Web Services Inc., HPE, Talend, Micro Focus Plc, IBM Corporation, Checkpoint Software Technologies Inc., and Google LLC. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry.
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Key Findings of the Study –
- By solution, in 2019, the data security and analytics is estimated to be the major shareholder. However, data governance and compliance is expected to witness highest growth rate during the forecast period.
- On the basis of deployment type, the local (on-premise) segment accounted for the highest revenue in 2019; however, the cloud is expected to witness highest growth rate during the forecast period.
- On the basis of industry verticals, the financial and insurance sector accounted for the highest revenue in 2019, however, the healthcare and pharmaceutical segment is expected to witness highest growth rate during the big data security market forecast period.
- Region wise, the network security market was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the upcoming years.
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