Global Big Data Security Market Overview

The Global Big Data Security Market is expected to register a CAGR of 17% over the forecast period 2019 – 2024. Security is a major concern that restricts enterprises to opt for Big Data deployments either on-premise or hosted on the cloud or virtual environments.

– 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.
– Especially with the advancements and progressions in technology even the cybersecurity attacks are becoming sophisticated and complex day by day, shunning all the traditional security tools, leading to the need for advanced protection techniques such as Big Data security.
– Although enterprises are deploying 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 the enterprises.

Scope of the Global Big Data Security Market 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. Much like other forms of cyber-security, the big data variant is involved and concerned with attacks that originate either from the online or offline spheres.

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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 has shifted dramatically. Big Data is essential in achieving productivity and efficiency gains and uncovering new insights to drive innovation.
– 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, operations and bottom line, not to mention the consequences that arise if the equipment is compromised and employees’ lives are put at risk. If the breach is severe enough, a company might never regain losses, a fate made all the more painful if the fault lies with the manufacturer itself for 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.

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.

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 conspicuous share in the market are focusing on increasing their customer base across different regions.

– June 2019 – Symantec Corp. a global cybersecurity leader and an Advanced Technology Partner in the Amazon Web Services (AWS) Partner Network (APN), announced a new service for Symantec’s Cloud Workload Protection (CWP) solution and Amazon GuardDuty to provide automated remediation and enhanced threat intelligence for AWS workloads and storage.
– April 2019 – Symantec, announced it has become a member of the United States’ Department of Defense’s (DOD) Defense Industrial Base (DIB) Cybersecurity (CS) program. The DIB CS program is a voluntary cyber threat information-sharing initiative established by the DOD to enhance and supplement DIB participants’ capabilities to mitigate cyber attacks. The program features a collaborative information-sharing environment where members voluntarily report cyber threats as well as information on how to prevent/mitigate those threats.

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