Big Data Security Market Size, Share & Trends Analysis Report By Solution (Data Discovery and Classification, Data Authorization and Access, Data Encryption, Tokenization, and Masking, Data Auditing and Monitoring, Data Governance and Compliance, Data Security Analytics, Data Backup and Recovery), By Deployment (On-premises, Cloud), By Organization Size (Large Enterprise, Small and Medium Enterprise), By Industry Vertical (IT & IT'S, Telecommunications, Healthcare and Social Assistance, Financial and Insurance, Retail Trade, Utilities, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global big data security market size was valued at USD 33.72 billion in 2023. It is expected to reach USD 152.20 billion in 2032, growing at a CAGR of 18.23% over the forecast period (2024-32). The global big data security market is propelled by the rising volume and complexity of data breaches and cyber threats. Organizations are increasingly adopting big data analytics to enhance security intelligence and threat detection capabilities. Stringent data protection regulations and the need to safeguard sensitive information further drive market growth, prompting investments in advanced security solutions and services.

Big data analytics is being used by businesses to identify business possibilities, improve performance, and guide decision-making. Many big data tools are open source and aren't designed with security in mind. Many data security risks arise due to the massive increase in data consumption. Business organizations and enterprises store their consumer or client data in Hadoop for analysis and visualization, which helps them understand the behavior of their customers, so that they can modify their commodities and even their business operations to suit the clients' requirements better. Extensive data analysis of customer data gives organizations their spending patterns, types of products and services they avail, and where & how do they engage with the organization's products. This data may contain personally identifiable information about their consumers.

Factors such as the fast adoption of digital technologies and the growing importance of data-based trend analysis methodologies are expected to drive market expansion during the projected period. Furthermore, the rise in data privacy and security concerns has bolstered the market's foundation. Again, specific improvements in extensive data methodologies are expected to increase the use of big data analytics technology, resulting in a profitable market expansion opportunity. 

Market Dynamics

Global Big Data Security Market Drivers

Increase in Digitization Trends and Digital Data Production

In recent decades, digital data production has grown exponentially and is estimated to continue this trend during the forecast period. Increased penetration of digital devices like smartphones and computers in the daily life of consumers is one of the critical factors responsible for this boom in digital data production. Additionally, the increasing popularity of the Internet of Things (IoT) and the data produced from various IoT devices have contributed to this data boom. High amounts of digital data productions have made it difficult for data analysts to process this data and make sense of it. Big data tools have to be employed to help process these enormous amounts of data to assist with identifying trends and present visualization of these massive amounts of data.

With the adoption of big data tools and analysis solutions standards in modern business infrastructure, organizations are witnessing a significant rise in big data security challenges, which has resulted in the increased adoption of big data security solutions as it helps them safeguard the enterprise data and consumer data. Owing to this fact, the big data security market has seen a significant rise over the past several years and is expected to rise further.

Sensitive Data Stored and Analyzed in Big Data

Business organizations and enterprises store their consumer or client data in Hadoop for analysis and visualization, which helps them understand the behavior of their customers, so that they can modify their commodities and even their business operations to suit their clients better.

Extensive data analysis of customer data gives organizations their spending patterns, types of products and services they avail, where and how they engage with the organization's products, and others. This data may contain personally identifiable information about their consumers. Any data which could potentially identify a particular person is Personally Identifiable Information (PII). Any data that can be utilized in the differentiation and deanonymization of previously anonymous data between one person and another can be taken as PII. PII of a customer is considered sensitive data and must be handled with care; big data security solutions are employed by businesses to safeguard these sensitive PIIs, which in turn drives the growth of the big data security market.

Global Big Data Security Market Restraint

Varying Environments of Big Data Technology

Big data environments are not similar to regular databases and storage solutions that business organizations and enterprise systems use for their data storage. Big data environments are responsible for storing vast amounts of data needed for quick processing for the enterprise system to function effortlessly. Big data security solutions need to adapt to process and manage this massive amount of data without affecting the performance of the big data environment of the organization. This limitation makes it even more complex for business organizations to implement more robust security policies in their big data environments.

Global Big Data Security Market Opportunities

Growth in Awareness about the Importance of Data Privacy

In the past few years, consumers and governments realized the importance of data privacy due to corporate data breaches and corporate data leakages that directly affect consumers' privacy. This shows that if the emphasis is on optimum prominent data cybersecurity, hackers might be able to access information processed quickly through big data technology without authorization. To this realization, consumers, governments, and concerned bodies are demanding organizations adopt stronger and better big data security solutions to ensure the safety and privacy of user data.

Regional Analysis

Region-wise, the global big data security market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

North America dominated the global market and is projected to grow at a CAGR of 17.5%. North America is analyzed across the U.S. and Canada. It is leading the big data security market in 2019 and is expected to continue its dominance during the forecast period. Many industry verticals in North America use extensive data services to improve risk management and customer marketing skills. Most of the security vendors are based in North America, making the region an early adopter of new and advanced security technologies. As a result, North America is expected to dominate the big data security market during the forecast period. 

Asia-Pacific is the second-largest and fastest-growing region. The Asia-Pacific big data security market is projected to reach USD 32180 million by 2030, growing at a CAGR of 21%. Big Data security solutions are expected to improve the performance of security solutions by preventing low-level incidents and viewing each user as a hostile network. Due to high digital connectivity, cybersecurity awareness increased data transfer across borders, and weaker laws, the Asia-Pacific region is expected to increase the demand for a more comprehensive data security solution during the forecast period. 

Europe is the third-largest region. The growing threats of cyber-crime worldwide, especially in Europe, have provided new emerging domains that could prevent significant data attacks, such as cloud security, rapid cloud computing, data center, and wireless communications from boosting the big data security market during the forecast period. The rise in cyber security blocks access to and theft of high-quality data due to the lack of a robust security system, thus, providing enhanced security measures to several companies in Europe. 

Segmental Analysis

The global big data security market share is segmented into solution, deployment, organization size, and industry verticals. 

Based on the solution, the global big data security market is segmented into data discovery & classification, data authorization & access, data encryption, tokenization & masking, data auditing & monitoring, data governance & compliance, data security analytics, and data backup & recovery. The data security analytics segment was the highest contributor to the market and is estimated to grow at a CAGR of 14.2% during the forecast period. Security analytics provide a timely resolution matrix and low false positives that allow analysts to identify threats and react to security breaches, further driving the market growth.

The data governance and compliance segment is the fastest growing. Due to the rapid data growth, the need for adopting data management and compliance solutions is growing, leading to significant market growth. In addition, emerging law enforcement and data security measures are at the forefront of the widening data governance and compliance market. With the sheer volume and importance of data, data management is required. In addition, business enterprise ensures high-quality data and genealogy throughout the life data system, strengthening the adoption of data management solutions. In addition, reducing customer risk firms using BI and analytics has led to the growth of the data governance and compliance market.

Data backup and recovery is the second largest segment. The importance of data backup and recovery equals the amount of data to be created and stored. The organization has sensitive data due to viruses, and corruption of files can cause data to be lost. To mitigate this phenomenon, enterprises are focusing on adopting a data backup and recovery solution, which drives the growth of the data backup and recovery market. A growing number of large and medium-sized enterprises have extensive data they need to store, backup, and recover, so there is an increasing demand for the data backup and recovery market.

Based on deployment, the global big data security market is divided into on-premise and cloud. The on-premise segment was the highest contributor to the market and is estimated to grow at a CAGR of 18% during the forecast period. The IT team is responsible for ensuring the availability of services at all times and disaster recovery operations. Since the organization has complete control over the entire IT department, it can constantly monitor situations and predict when and why services might be down. These factors are driving the growth of the on-premise big data security market. In addition, the surge in the number of cloud cyberattacks and competition among SMEs has shifted their preference toward on-premise solutions, which are providing opportunities for the growth of big data on-premise security solutions.

The cloud segment is the fastest growing. The cost-efficiency and importance of cyber security and the highly automated nature of cloud security are some of the factors driving the market's growth. Moreover, the evolution of advanced technologies and stiff competition among third-party providers are providing enough opportunities for market development.

Based on organization size, the global big data security market is categorized into small & medium enterprises and large enterprises. The same segment was the highest contributor to the market and is estimated to grow at a CAGR of 18.5% during the forecast period. Increased cyber attacks on data and a surge in hacks are the key drivers driving SMEs' growth of extensive data security. Moreover, the availability of cloud-based solutions, government policies, and the rise in competition among SMEs are providing ample opportunities for the growth of the big data security market among SMEs.

The large enterprise segment is the fastest growing. Major factors driving the big data security market are cyberattacks' increased frequency and complexity, disruptive digital technologies such as IoT, and robust data protection. In addition, advances in security technologies and competition among retailers offer significant opportunities for market growth.

Based on industry verticals, the global big data security market is segregated into IT & ITES, telecommunications, Healthcare and Social Assistance, financial & Insurance, retail trade, utilities, and others. The economic and Insurance segment was the highest contributor to the market and is estimated to grow at a CAGR of 15.7% during the forecast period. Finance and Insurance have very confidential data, so they need big data security solutions to prevent attacks from hackers and cybercriminals. Data privacy and security issues, a surge in cyberattacks on financial institutions for monetary benefits, and data theft of essential records are some significant factors driving the growth of the big data security market. Moreover, adopting cloud-based solutions and peer-to-peer models within the sector has formulated the demand for big data security solutions.

The healthcare and social assistance segment is the fastest-growing segment. Digitalization of the healthcare and social assistance sector, the surge in cyberattacks on healthcare platforms, and the adoption of big data solutions are the key drivers that fuel the market's growth. Moreover, the rapid growth of sensitive content, such as the formula related to vaccines within the COVID era and the development in the number of cyberattacks within the sector, has created a strong demand for the market within the industry.

Telecommunications is the second largest segment. The rise in the adoption of Industrial Revolution 4.0 and the surge in cyberattacks at telco companies for gathering personal details and other vital data are the key drivers driving the adoption of big data security solutions in the telecommunication industry. Moreover, rapid growth in the telecom data coupled with a rise in attacks within it has created a strong foundation for the overall market growth.

Impact of covid-19

The onset of covid-19 across the nation resulted in a decline in the market for chemical mechanical polishing.

Amidst the spread of coronavirus, major economies witnessed a downfall in their GDP and operations. The lockdown imposed by the government and regulatory authorities across the globe disrupted the operations and activities of the players in the market. It inflicted a severe threat to humankind and society, disrupting the economies around the world. The government declared strict lockdowns to slow down the rapid spread of the disease, productions were ceased, all work environments closed, public interactions were restricted, and temporary suspension of manufacturing and trading activities across the globe. 

The pandemic caused a decline in the growth of automotive, electronics, and industrial sector activities which influenced the demand for chemical mechanical polishing in a negative manner. Due to the lockdowns and restrictions, semiconductor events/shows had to be canceled and shut down the electronics, industrial, and automotive sectors, which again affected the supply chains of CMP raw materials. Further, the lockdowns imposed by countries across the world resulted in the shutdown of manufacturing facilities, combined with strict restrictions over social distancing norms which impacted the overall operations of semiconductor manufacturing facilities. Hence, the global chemical mechanical polishing market witnessed a severe decline during the covid-19 era.

Market Recovery Timeline and Recovery

Nevertheless, approbatory government policies and initiatives, including reduction and ease in the interest rates, tax exemptions, and several financial packages along with automation in manufacturing, growing demand for medical devices during the period of a health crisis, and recovery of the manufacturing in China resulted in the market recovery of chemical mechanical polishing. 

Associations like the Semiconductor Industry Association (SIA) forwarded their suggestions to government officials to specify the semiconductor industry operations as an essential infrastructure or business activity and allow for the continuity in the functions of the industry, promoting growth in the semiconductor market. It pushed the need for chemical mechanical polishing to get back on track. 

Furthermore, the demand for electronic products in the healthcare industry rose, driven by the need to treat patients affected by the pandemic; this pushed the market growth further.

Recent Developments

• June 2024 - Fortinet expanded its cloud security portfolio through the acquisition of Lacework, a significant move to enhance its capabilities in securing cloud environments. This highlights the growing importance of cloud security in managing big data.
• January 2024 - Atos, a French IT consultancy and technology firm, started negotiations with Airbus to sell its Big Data & Security branch. Atos might receive up to €1.8 billion from the deal. Yves Bernaert, CEO of Atos, announced in a statement this morning that the business has received two non-binding bids for its Big Data & Security segment.