"Global Big Data Security Market accounted for USD 19.32 Billion in 2019 and is expected to reach USD 58.82 Billion by 2026 growing at a CAGR of 17.24% during the forecast period from 2019 to 2026"
The factors that drive the growth of the big Data security market are rapidly evolving regulatory landscape, increasing variety and volume of business data generated from multiple sources, and rising cyber-attacks demanding highly scalable security solutions are propelling the growth of the market.
Cloud Segment is expected to have the highest market share during the forecast period.
The cloud segment is expected to have a significant growth rate in the big data security market during the forecast period. The cloud computing model is widely adopted, due to its powerful and flexible infrastructure option. The growth of this segment is mainly attributed to low maintenance cost, which is majorly preferred by small & medium enterprises. Additionally, the implementation of the cloud can allow organizations to combine supplementary infrastructure technologies such as software-defined perimeters, to create robust and highly secure platforms.
Banking, Financial Services, and Insurance (BFSI) is expected to have the highest market share during the forecast period.
The Banking, Financial Services, and Insurance (BFSI) industry verticals are expected to have the highest market share during the forecast period due to the increasing corporate data and customer critical information in this sector. Additionally, the growing customer transactions outside the branch through multiple channels such as web, chat, social media, and mobile lead to higher adoption of big data security solutions.
North America is expected to grow at XX% CAGR during the forecast period.
Based on the region, North America is expected to hold the highest market share in the big data security market during the forecast, due to the presence of large vendors with a strong customer base. The region is an early adopter of innovative technologies. Organizations are beholding a huge adoption of cloud-based security solutions, encouraging market growth. Additionally, Asia Pacific is expected to offer significant growth opportunities for the vendors, leading to growth at the highest CAGR during the timeline. Europe is projected to be the second-largest revenue generator for the big data security market in 2019.
Key Findings of the Study:
This report provides a market analysis of the big data security market. The report study includes an in-depth analysis of the drivers, restraints, and challenges that affect the market, along with their impact from the short, medium, and long term perspectives. This report will help the stakeholders in this market to unlock the business potential and identify profitable investment opportunities.
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