Big Data Security Market 17.1% CAGR Led by Encryption Software Solutions to 2022 - Seite 2

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Encryption, tokenization, and data masking as software segment is expected to hold the largest market size during the forecast period. Advanced encryption-based cyber security software solutions are integrated with other security solutions to provide enhanced data security at a lower cost, on both cloud and on-premises. Tokenization software can be used for payment security, user authentication, and compliance management. Data masking is particularly common for software testing and user training. It ensures that the confidential company data and customer information is unavailable beyond the permitted environment. All these factors are fueling the overall growth of this segment in the big data security market.

Increasing cyber-attacks demanding scalable high security solutions and evolving regulatory land scape are expected to propel the big data security market growth. Growing demand for third-party managed security services and growing adoption among Small and Medium-sized Enterprises (SMEs) are expected to evolve the big data security and thus will create opportunities for the growth of this market. However, lack of data security awareness, and low data security budget and higher installation cost are the factors that might hinder the overall growth of the big data security market.

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In the process of determining and verifying the big data security market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of the profiles of the primary participants is given below:

• By Company: Tier 1: 22%, Tier 2: 30%, and Tier 3: 48%
• By Designation: C-level: 30%, Director level: 45%, and Others: 25%
• By Region: North America: 48%, Europe: 30%, and APAC: 22%

The report segments the big data security market based on services, which is segmented into managed services and professional services. Under professional services, the report is further segmented into support and maintenance, consulting services and education and training. Based on deployment models, the market is segmented into on-premises and cloud. By organization size, it is segmented into SMEs and large enterprises, whereas by component, the market is segmented into encryption, tokenization and data masking; access control; security intelligence; big data governance; and others (audit and reporting, and big data classification and discovery). Further, under industry verticals, the market includes retail and eCommerce; manufacturing; government and defense; healthcare and life sciences; energy and utilities; telecommunications and IT; media and entertainment; and Banking, Financial Services, and Insurance (BFSI). The regions are segmented into North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.