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Big Data Security Market to Reach $54.23 Billion, by 2027

According to the report, the global big data security industry was projected at $13.72 billion in 2019, and is anticipated to hit $54.23 billion by 2027, registering a CAGR of 18.8% from 2020 to 2027.

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Rise in digitization trends and production of digital data, and increasing data privacy & security concerns drive the growth of the global big data security market. On the other hand, huge amount of data that call for minute analyzation impedes the growth to some extent. However, advancements in big data techniques are projected to create lucrative opportunities in the industry.

Impact of Covid-19 Pandemic on Big Data Security Market:

  • The outbreak of the pandemic made business organizations take recourse to remote working culture. This resulted in tons of additional raw data generation. Which augmented online activities along with increase in the number of cyber-attacks; thus, driving the big data security frameworks and solutions.
  • This drift is likely to continue post pandemic as well, as the demand for improved security of confidential corporate assets would always subsist.

Based on solution, the data security analytics segment contributed to around one-fifth of the global data security market share in 2019, and is expected to lead the trail by the end of 2027, owing to introduction of actionable intelligence to reduce data loss, and the prioritization of network-based paradigms. The data governance and compliance segment, on the other hand, would register the fastest CAGR of 24.9% throughout the forecast period, due to increasing risk factors on enterprise data.

Based on deployment, the on premise segment accounted for nearly two-thirds of the global data security market revenue in 2019, and is anticipated to rule the roost by the end of 2027. Surge in number of cloud cyber-attacks and competition among SME’s are some of the major factors that drive the growth of the segment. At the same time, the cloud segment would cite the fastest CAGR of 20.5% throughout the forecast period, due to its cost-efficient feature.

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Tags: Big Data Security Market Size, Big Data Security Market, Big Data Security Market Share

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Contact Information:

David Correa Portland, OR, United States USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975 help@alliedmarketresearch.com Web: https://www.alliedmarketresearch.com

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Reportedtimes, canadatousd, PR-Wirein, Empirits, Healthfirsto, Fexti, lebc, Dthai, Research Newswire, English

Contact Information:

David Correa
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com