Big Data Security Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Big Data Security Market is segmented by Component (Solutions, Services), Organization Size (Small & Medium Enterprises, Large Enterprises), End-user Industry (Banking, Financial Services, & Insurance (BFSI), Manufacturing, IT & Telecommunication, Aerospace & Defense, Healthcare), and Geography.

Market Snapshot

Big Data Security Market Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 17.1 %

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Market Overview

The Big Data Security Market was at USD 14.90 billion in 2020, and it is expected to reach USD 38.23 billion by 2026, at a CAGR of 17.1% over the forecast period 2021 - 2026. Security is a significant concern that restricts enterprises from opting for Big Data deployments either on-premise or hosted on the cloud or virtual environments.

  • When cybercriminals target large data sets, the payoff is frequently well worth the effort required to breach security layers, which is why big data is a major potential for businesses and cybercriminals. When they go after such a massive data set, they have a lot more to gain. As a result, companies stand to lose a lot more if they are subjected to a cyber attack without adequate security measures.
  • Traditional data mining and cyber-attack protection techniques and technologies just are not enough for many firms, especially those that handle such massive volumes of data. As a result, cybersecurity professionals are increasingly turning to big data analytics. With data being routed through a circuitous path, from a data source (such as CRM, sensors) to data storage and to the analysis stage, the Big Data environment is vulnerable in various ways and is a valuable target for intruders.
  • Although enterprises deploy Big Data platforms using the Hadoop open-source framework or other sources, the frameworks lack comprehensive security plans. The inherent mechanisms have limitations that may not be secured enough just by data encryption. This demands the security of Big Data in enterprises.
  • Workers have been urged to work from home and even'stay at home' because of government limitations established in reaction to the covid outbreak. Because of this, technology has become increasingly vital in the professional and private life. However, despite the growing need for technology, many organisations still do not provide a "cyber-safe" remote-working environment for their employees to work in. Whereas most business meetings used to be held in person, they are now held virtually.
  • Switzerland's National Cyber Security Center (NCSC) announced in June 2020 that 350 cyberattacks (phishing, fraudulent websites, direct attacks on organisations, etc.) were reported in Switzerland in April, compared to the norm of 100-150. In addition to the covid pandemic, more people are working from home because they don't have the same level of protection/deterrent measures as those who work in an office (e.g. internet security).

Scope of the Report

Big data security is the aggregate term for all the measures and tools used to safeguard and defend both the data and analytics processes from attacks, theft, or other malicious activities that could harm or negatively affect them. The scope comprises components, organization size, and end-users, along with geography.

By Component
Solutions
Services
By Organization Size
Small & Medium Enterprises
Large Enterprises
By End-user Industry
Banking, Financial Services, & Insurance (BFSI)
Manufacturing
IT & Telecommunication
Aerospace & Defense
Healthcare
Other End-users
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Rest of Europe
Asia-Pacific
China
Australia
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle-East & Africa
United Arab Emirates
Saudi Arabia
South Africa
Rest of Middle-East & Africa

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Key Market Trends

High Demands for Data Security in Manufacturing Sector to Drive the Market Growth

  • Manufacturing remains a critically important part of the world’s economic engine, but the roles it plays in advanced and developing economies have shifted dramatically. Big Data is essential in achieving productivity and efficiency gains and uncovering new insights to drive innovation.
  • International news has been made of the latest high-level cyberattacks, such as one on Colonial Pipeline in the United States. Similarly, the automotive and tyre industries are vulnerable to these types of data breaches. Honda, for example, was targeted by ransomware in June 2020, which disrupted the brand's capacity to serve customers for a period of time.
  • Government across regions, like Germany, US, China, and India are focusing on smart manufacturing techniques by increasing automation and industrial control systems (ICS) (like SCADA, DCS, PLCs). These techniques create a connected, automated environment and increase the operational efficiencies by making use of data from sensors and other industrial control devices.
  • The same industry trends that make manufacturing more streamlined such as the Internet of Things (IoT) and Bring Your Own Device (BYOD) also increase exponentially the potential for cyber attacks to occur. Such attacks, whether through cyber espionage or distributed denial of service (DDOS) and Web application attacks, can wreak havoc on a manufacturing company’s reputation. If the breach is severe enough, a company might never regain losses just due to not taking appropriate data security measures.
  • The cybersecurity risks to the manufacturing sector include everything from operational downtime to physical damage, product manipulation and the theft of intellectual property and sensitive data. Although the growth in the industrial 4.0 practices across manufacturing industries provides more scope for the Big Data analytics over the forecast period, the security threats are reported to be the major concerns for the manufacturers. The aforementioned factors may discourage companies to incorporate digital capabilities, thus creating scope for the Big Data security solutions.
nigdata securuty manufacturing.png

North America to Hold the Largest Market Share

  • Enterprises in the region, including large technology companies like Intel, are increasingly embracing Big Data environment. In addition, the White House also invested more than USD 200 million in Big Data projects. In addition, SaaS adoption is also increasing among local SMEs, which in turn, makes them vulnerable to threats. As data breaches are also on the rise, the need for Big Data security is substantial in the region.
  • As the demand for the Big Data Security is directly related to the security of the Big Data, the more the generation of the Big Data, the higher is the demand for Big Data Security market. Moreover, the region is the biggest hub for the start-ups(with approximately 20,000 active start-ups). The market for Canada Big Data security is estimated to grow significantly over the forecast period, owing to the high adoption rate of Big Data and cloud services.
  • Industries across the region that are embracing Big Data are potential customers for Big Data security. For instance, the country’s supermarket retail chain, Loblaws, is using Big Data to learn more about its customers, in order to offer value-added services and promotions, such as discounts and rewards. With Big Data market expected to nearly double by 2020 in Canada, the region is expected to be a substantial market after the United States.
geo big data security.png

Competitive Landscape

High Investment in R&D and continuous technological innovations to onset the malicious attacks is the key strategy followed by major market vendors to gain a competitive edge. The market is highly competitive and consists of several major players. The players with a major share in the market focus on increasing their customer base across different regions.

  • August 2021 - VMware has released the Vulnerability Management module for VMware Carbon Black Cloud Endpoint. Customers may further streamline and consolidate important security capabilities into a single cloud-native agent and console by adding Vulnerability Management to VMware Carbon Black Cloud Endpoint. VMware's new service prioritizes risks and increases visibility, allowing security teams to focus on exploitable vulnerabilities.

Recent Developments

  • August 2021 - McAfee Enterprise announced that MVISION Cloud, a secure access service edge (SASE) offering - MVISION Unified Cloud Edge (UCE) now provides enhanced security coverage for Microsoft Dynamics 365, a line of enterprise resource planning and customer relationship management software applications. This solution extends the capabilities of Dynamics 365 by utilizing a frictionless API-based cloud-native approach.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Increasing Variety And Volume of Business Data Generated from Various Sources

      2. 4.3.2 Increasing Cyber-Attacks Demand for Scalable High Security Solutions

      3. 4.3.3 Growth of E- Commerce Industry

    4. 4.4 Market Restraints

      1. 4.4.1 Lack of Data Security Awareness

      2. 4.4.2 Low Data Security Budget And High Installation Cost of Solution

      3. 4.4.3 Lack of Security Expertise And Skilled Personnel

    5. 4.5 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Impact of Covid-19 on the market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Component

      1. 5.1.1 Solutions

      2. 5.1.2 Services

    2. 5.2 By Organization Size

      1. 5.2.1 Small & Medium Enterprises

      2. 5.2.2 Large Enterprises

    3. 5.3 By End-user Industry

      1. 5.3.1 Banking, Financial Services, & Insurance (BFSI)

      2. 5.3.2 Manufacturing

      3. 5.3.3 IT & Telecommunication

      4. 5.3.4 Aerospace & Defense

      5. 5.3.5 Healthcare

      6. 5.3.6 Other End-users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

      2. 5.4.2 Europe

        1. 5.4.2.1 United Kingdom

        2. 5.4.2.2 Germany

        3. 5.4.2.3 France

        4. 5.4.2.4 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Australia

        3. 5.4.3.3 Rest of Asia-Pacific

      4. 5.4.4 Latin America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Mexico

        3. 5.4.4.3 Rest of Latin America

      5. 5.4.5 Middle-East & Africa

        1. 5.4.5.1 United Arab Emirates

        2. 5.4.5.2 Saudi Arabia

        3. 5.4.5.3 South Africa

        4. 5.4.5.4 Rest of Middle-East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Oracle Corporation

      2. 6.1.2 IBM Corporation

      3. 6.1.3 Microsoft Corporation

      4. 6.1.4 Amazon Web Services

      5. 6.1.5 Broadcom Inc. (Symantec Corporation)

      6. 6.1.6 Hewlett Packard Enterprise

      7. 6.1.7 Thales Group (Gemalto NV)

      8. 6.1.8 Cloudera Inc.

      9. 6.1.9 Centrify Corporation

      10. 6.1.10 Mcafee, LLC

      11. 6.1.11 Check Point Software Technologies Ltd

      12. 6.1.12 Imperva, Inc.

      13. 6.1.13 Dell Technologies

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Big Data Security Market market is studied from 2018 - 2026.

The Big Data Security Market is growing at a CAGR of 17.1% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Oracle Corporation, Microsoft Corporation, Broadcom Inc. (Symantec Corporation), IBM Corporation, Amazon Web Services are the major companies operating in Big Data Security Market.

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