Big Data Security Market Worth 26.85 Billion USD by 2022

PUNE, India, September 21, 2017 /PRNewswire/ --

According to a new market research the report "Big Data Security Market by Software (Encryption, Data Masking, Access Control, Security Intelligence, Data Governance), Technology (IAM, SIEM, UTM, IDS/IPS), Service, Deployment, Organization Size, and Industry Vertical - Global Forecast to 2022", published by MarketsandMarkets™, the market size is expected to grow from USD 12.22 Billion in 2017 to USD 26.85 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 17.1%.

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Browse 83 Market Data Tables and 43 Figures spread through 166 Pages and in-depth TOC on "Big Data Security Market"

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The key factors driving the overall Big Data Security Market include evolving regulatory landscape, increasing variety and volume of business data generated from various sources, and increasing cyber-attacks demanding scalable high security solutions.

The BFSI vertical is expected to have the largest market share during the forecast period 

The Banking, Financial Services, and Insurance (BFSI) vertical is expected to have the largest market share among all the verticals throughout the forecast period. Organizations operating in the BFSI industry are using Big Data Security software and services for effective and efficient management of digital assets from any kind of manipulation and threat. Further, the major reason for the rising adoption can be attributed to the need for minimizing the risks and frauds that occur every day. Also, Big Data Security is offering insurance providers with the opportunity to recognize customer behavior leading to fraudulent claims and helping companies' save time and money, which in turn eventually help in lowering insurance premiums for customers.

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The cloud deployment model to grow at a high CAGR during the forecast period 

The cloud-based deployments are witnessing surge in demand due to their cost-effectiveness and worldwide availability. Owing to their low hardware requirement, cloud-based solutions incur low maintenance costs with 24/7 accessibility from anytime, anywhere. Due to advancements in cloud technologies and increase in data generation from various constituents and customers, cloud-based deployments are expected to exceed on-premises deployments. Also, cloud solutions simplify the security process of the entire organization and offer a competitive edge by terminating administrative roadblocks, thus supporting infrastructure and allowing organizations to focus on improving their competencies.