According to a new report, published by KBV research, The Global Big Data Security Market size is expected to reach $71.1 billion by 2031, rising at a market growth of 14.5% CAGR during the forecast period.
The Services segment is exhibiting a CAGR of 16.3% during (2024 - 2031). Service providers provide consulting and advisory services to assist organizations in evaluating their security posture, identifying vulnerabilities, and creating complete security strategies specific to their needs and obstacles. These services enable organizations to effectively align their big data security initiatives with business objectives and regulatory requirements. Service providers offer managed security services to augment organizations' in-house security capabilities and resources. They provide 24/7 monitoring, threat detection, incident response, and remediation services, leveraging advanced analytics, AI, and ML to proactively identify and mitigate security threats in real-time.
The Cloud segment is registering maximum revenue in the Global Big Data Security Market by Deployment Mode in 2023; thereby, achieving a market value of $44.8 billion by 2031. Cloud computing enables organizations to store and process vast amounts of data in scalable, cloud-based data repositories and platforms. Big data security solutions are becoming increasingly in demand due to the rising volume of data stored in the cloud and the need for stronger security measures to shield sensitive data from cyber threats, unauthorized access, and data breaches. Cloud service providers follow a shared responsibility model, which means they are responsible for securing the underlying cloud infrastructure, while organizations are responsible for protecting their data and applications on the cloud.
The Small & Medium Enterprises segment would exhibit a CAGR of 15.3% during (2024 - 2031). Cybercriminals increasingly target SMEs due to their perceived vulnerability and limited resources to invest in cybersecurity defenses. Cyber threats like ransomware, phishing attacks, and data breaches can devastate SMEs, including financial losses, reputational damage, and business disruption. As a result, SMEs are recognizing the importance of investing in big data security solutions to protect their sensitive data, mitigate cyber risks, and safeguard their business operations.
The Identity & Access Management segment is generating highest revenue in the Global Big Data Security Market by Technology in 2023; thereby, achieving a market value of $25.8 billion by 2031. Identity & access management (IAM) solutions streamline user authentication and access processes, enabling users to access data and applications securely and conveniently. Single sign-on (SSO) capabilities, multi-factor authentication (MFA), and self-service password reset features enhance user productivity and experience, reducing the burden on IT support teams and improving user satisfaction. IAM solutions facilitate the management of user identities throughout their lifecycle, from onboarding to offboarding.
The Government segment is experiencing a CAGR of 16.2% during (2024 - 2031). Government intelligence agencies utilize big data security solutions to collect, analyze, and interpret intelligence data from various sources, including communications intercepts, satellite imagery, and open-source intelligence (OSINT). Big data analytics enable intelligence analysts to identify and assess threats, predict adversarial behavior, and support decision-making processes, enhancing national security and geopolitical stability.
Full Report: https://www.kbvresearch.com/big-data-security-market/
The North America region dominated the Global Big Data Security Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $24.6bmillion by 2031. The Europe region is anticipated to grow at a CAGR of 14.1% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 15.3% during (2024 - 2031).
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