Big Data Security Market Size, Share & Industry Analysis, By Component (Data Discovery and Classification, Data Encryption, Tokenization and Masking, Data Auditing and Monitoring, Data Authorization and Access, Data Governance and Compliance, Data Security Analytics, and Others), By Deployment (On-premises and Cloud), By Enterprise Type (Small & Mid-sized Enterprises (SMEs) and Large Enterprises), By Industry (IT & Telecom, BFSI, Healthcare, Retail & E-commerce, Manufacturing, Government, Aerospace & Defense, and Others), and Regional Forecast, 2024-2032

The global big data security market size was valued at USD 20.61 billion in 2023. The market is projected to grow from USD 23.68 billion in 2024 to USD 83.95 billion by 2032, exhibiting a CAGR of 17.1% during the forecast period.

Big data security refers to the practice of monitoring and protecting a company's critical business data to ensure safe and compliant ongoing operations. Securing big data tools requires a combination of newly developed toolsets and intelligent processes for monitoring security throughout the platform's lifespan, along with traditional security tools.

The vast amounts of data generated by businesses and individuals can provide valuable insights into operational performance, market trends, and customer behavior. This information can be used to improve decision-making processes, optimize business operations, and develop novel products. However, big data security is a major challenge for organizations and can result in significant losses for individuals and businesses. Industry experts report that the global average cost per data breach has increased to USD 4.45 million in 2023 from USD 4.35 million in 2022. This data highlights the importance of implementing effective security measures when analyzing big data.

The COVID-19 pandemic had a silver lining for the market, as many businesses pivoted toward remote working and work-from-home models. This shift resulted in digital ways of conducting business, which became the new Business Continuity Plan (BCP) for various organizations. As a result, a huge amount of raw data was generated due to increased online activities. However, this also led to a surge in cyber-attacks, which drove the need for big data security frameworks and solutions. Furthermore, the sudden increase in cyber-criminal activities targeting organizations and their customers resulted in a higher demand for improved security of confidential corporate assets.

IMPACT OF GENERATIVE AI

Generative AI to Aid Big Data Security Market Growth with Encryption of Sensitive Data

Ensuring the security of sensitive data is of utmost importance to prevent unauthorized access. Generative AI can play a vital role in improving encryption protocols by optimizing encryption algorithms and generating robust cryptographic keys. Generative AI algorithms can identify suspicious activities and promptly notify security personnel, with the ability to adapt and learn to evolving patterns. Studies have shown that organizations that utilize generative AI-based access control systems experience a 40% reduction in successful unauthorized access attempts.

• November 2023: Varonis Systems, Inc. is a provider of data security solutions. As part of its efforts to improve its AI and machine learning capabilities, the company has launched Athena AI. It is a new generative AI layer that extends across the Varonis Data Security Platform. Athena AI comes with two strong generative AI capabilities - AI SOC analyst and Natural Language Search.

Big Data Security Market Trends

The Rise of Protective AI to Propel Market Growth

The use of Artificial Intelligence (AI) is increasing, and this is leading to a wider range of security use cases and a higher demand from organizations that want to reduce risk while improving speed and accuracy. According to industry studies, by 2026, over 80% of enterprises will use Generative Artificial Intelligence (GenAI) models or Application Programming Interfaces (APIs) and deploy GenAI-based solutions in production environments. This is a significant increase from less than 5% in 2023.

The integration of Artificial Intelligence (AI) and Machine Learning (ML) in data security practices will play a crucial role in organizations' purchasing decisions. AI will be incorporated into different areas of the security stack, such as identity and access management, antivirus and anti-malware solutions, and risk and compliance measures. The implementation of AI is expected to significantly enhance an organization's ability to identify and address potential security risks more quickly and accurately.

Big Data Security Market Growth Factors

Increased Demand for Scalable Big Data Security Solutions Due to Rising Cyber Attacks to Fuel Market Expansion

Targeted attacks have increased in recent years, infiltrating networks and maintaining anonymity. Attackers target endpoints, networks, devices, cloud applications, data, and other IT infrastructure.

• According to IBM Cost of Data Breach Report 2023, a data breach, on average, costs USD 4.45 million in 2023, on a global level, a 15% increase over 3 years.

Targeted cyber-attacks can have a detrimental effect on an organization's business-critical operations. These attacks can result in business disruption, loss of intellectual property, financial losses, and the loss of critical and sensitive data. Consequently, it is expected that the big data security market growth will be significant in the coming years.

RESTRAINING FACTORS

High Installation Costs and Low Big Data Security Budget Likely to Hamper Market Growth

The cybersecurity budget for emerging startups is inadequate for implementing advanced threat protection solutions and next-generation firewalls. Due to limited funding and lack of investment, small firms in developing economies are expected to face challenges in adopting security solutions for big data.

Small businesses often struggle with implementing proper IT security infrastructure due to their limited financial capabilities. This results in slower adoption of new technologies and enterprise security solutions. Managing a limited budget for various operational challenges and business continuity planning can be a burden for small businesses.

Big Data Security Market Segmentation Analysis

By Component Analysis

Need to Optimize and Enhance Big Data Performance to Boost Demand for Data Auditing and Monitoring Solutions

Based on component, the market is segmented into data discovery and classification, data encryption, tokenization and masking, data auditing and monitoring, data authorization and access, data governance and compliance, data security analytics, and others (data backup and recovery).

In 2023, the data auditing and monitoring segment had the largest market share. This was due to the increasing demand for advanced data security solutions, evolving regulatory rules and standards, and the growth of businesses in all industries. Ensuring audit data quality and data security is essential to maintain the normal operation of big data audits. By enhancing data security and improving data quality, audit scope can be expanded, analysis quality can be improved, and internal control issues can be prevented.

• In August 2023, Oracle Corporation made the Oracle Machine Learning Data Monitoring User Interface available on the Oracle Autonomous Database. The OML Data Monitoring UI provides insight into the evolution of enterprise data over time with a no-code user interface.

The data encryption, tokenization and masking segment is expected to experience the highest growth over the forecast period. Data encryption, tokenization and masking solutions enable businesses to secure vast amounts of critical information that is stored in the cloud or server and protect the confidentiality of digital data. Moreover, the increasing need to secure compliance with payment security guidelines and maintain fraud prevention levels is likely to create numerous growth opportunities in the market.

By Deployment Analysis

Increasing Adoption for Cloud-Based Solutions to Enhance IT security Boosts Segment Growth

By deployment, the market is classified into the cloud and on-premises.

The cloud deployment is expected to witness the highest growth rate during the forecast period. Security solutions for big data in the cloud deployment mode provide enterprises with cloud-based solutions that offer scalability, enhanced IT security, and speed. With the increasing number of applications being deployed on the cloud, the demand for big data security solutions is expected to surge across various industry verticals.            

The on-premises captured a significant market share in 2023. On-premise software is installed and maintained on the company's own servers. It offers more control and customization options, with complete control over security solutions for big data, such as next-generation firewalls and next-generation intrusion prevention systems. However, on-premise deployments require upfront investment, IT infrastructure, and regular updates and maintenance.

By Enterprise Type Analysis

Surging Need for Safeguard Critical Assets from Numerous Cyber-attacks in Large Enterprises Fueled Segment Growth

By enterprise type, the global market is categorized into Small and Mid-Sized Enterprises (SMEs) and large enterprises.

The large enterprises segment accounted for the largest market share in 2023. Large enterprises are revamping their security policies and architecture by incorporating big data to safeguard critical assets from numerous cyber-attacks. The adoption of big data security by large enterprises primarily aims to protect data centers, endpoints, networks, users, applications, and devices from unauthorized usage and malicious ransomware attacks.

By Industry Analysis

Growing Cyber-Attacks in the Manufacturing Industry to Augment the Demand for Big Data Security

Based on industry, the market is segmented into IT & telecom, BFSI, healthcare, retail & e-commerce, manufacturing, government, aerospace & defense, and others.

The manufacturing industry is likely to grow with the highest CAGR over the forecast period. Cyberattacks have become a major problem in the manufacturing industry, causing significant financial losses and disrupting production cycles. According to industry experts, in the third quarter of 2023, manufacturing accounted for 68% of all ransomware attacks on businesses. These experts also found that manufacturers experienced seven times more ransomware attacks than the food and beverage industry. As a result of cyberattacks in 2023, 44% of firms were forced to halt their manufacturing operations temporarily. For instance,

• In April 2023, Nordex, a major manufacturer of wind turbines, experienced a ransomware attack on their network by Conti. As a result, many of their systems across all branches were taken offline. In an effort to prevent the malware from spreading and to contain the damage to their internal network, the company disabled remote access to systems that managed wind turbines and IT systems.

The BFSI sector held the major market share in 2023. Banks and financial institutions collect critical data, such as customer information and financial details, which are highly vulnerable to cyber-attacks and data breaches. As these organizations increasingly adopt cloud technologies, security solutions for big data will become a top priority to protect this information and reduce the likelihood of data breaches.

REGIONAL INSIGHTS

The global market scope is classified across five regions, namely North America, South America, Europe, Middle East & Africa, and Asia Pacific.

In 2023, North America held the highest market share. Large enterprises, including big tech companies, such as Intel, are increasingly adopting big data environments. With data breaches becoming more common, the need for big data security in the region is substantial. Canada's demand for big data security is also rising due to the high adoption rate of security solutions for big data and cloud services in major tech companies.

• In July 2022, IBM announced that it signed a contract with the Defense Microelectronics Activity (DMEA) to offer security services. This will help DMEA secure and trust the supply chain of semiconductors for critical mission platforms in military and national security programs.

Asia Pacific is expected to experience the highest CAGR over the projected timeframe. The rapid adoption of digitalization, machine learning, AI, and the Internet of Things (IoT) in India, Australia, South Korea, and China has resulted in the creation of massive data assets that need to be protected from various security threats and risks. To tackle these cyber issues, governments are implementing laws and regulations such as the Information Technology Act, 2000 (ITA or IT Act) in India, the Cybersecurity Act in Singapore, and the Security of Critical Infrastructure Protection Act in Australia. This has led to increased demand for data-centric security solutions.

Moreover, the Europe big data security market share is being driven by the expansion of Industry 4.0 and IoT. Europe is currently the largest market for big data security solutions due to the presence of a well-established IT & telecom sector in the region. The production of massive amounts of data that need to be securely stored also contributes to the market’s share. Furthermore, there is a projected increase in demand for such solutions in the coming years due to the widespread use of personal computers and the Internet in the private sector.

• In June 2023, The European Data Protection Board (EDPB) announced the adoption of new guidelines on administrative fine calculation under the General Data Protection Regulation (GDPR). The main objective of these guidelines is to create a standardized methodology for Data Protection Authorities (DPAs) for determining fines. This will include incorporating consistent starting points into the calculation of fines.

The Middle East & Africa is experiencing continuous growth in the use of big data security. According to industry statistics, the Middle East witnessed a 6% increase in B2B sales in 2023 and also successfully blocked a total of 30 million threats in the UAE. Furthermore, Brazil, Argentina, and Chile, in South America are developing new AI regulations and organized plans to improve the use of advanced technology in the region.

List of Key Companies in Big Data Security Market

Strategic Collaborations and Product Enhancements by Various Players to Establish Market Presence

Key players operating in the market, such as IBM, Oracle, HPE, Thales, and Microsoft, among others, have been focusing on launching several new products that are focused on catering to specific types of industries. They are expanding the range of data they use to develop innovative solutions, enhance their tools and technology, and improve their capabilities in big data security solutions.

• In March 2023, IBM introduced the IBM Cloud Data Security Broker - a security solution designed to provide masking, tokenization, and field-level encryption. The solution allows users to tokenize, mask, and encrypt information at a row and column level, providing a data-centric protection layer. 

List of Key Companies Profiled:

• IBM Corporation (U.S.)


• Oracle Corporation (U.S.)


• Hewlett Packard Enterprise Development LP (U.S.)


• Thales Group (France)


• Microsoft Corporation (U.S.)


• Cloudera, Inc. (U.S.)


• Micro Focus (Open Text) (U.K.)


• Imperva Inc. (U.S.)


• Amazon Web Services Inc. (U.S.)


• Egnyte, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• April 2023 – Dynatrace, a provider of data security and unified monitoring, announced the acquisition of a new AWS cloud-based capability in the field of monitoring and security. By achieving this competence, Dynatrace has showcased its expertise in enabling customers to create a robust and scalable framework for their end-to-end cloud operations.


• January 2023 – Micro Focus recently announced the opening of a new data center located in the U.K. This data center will allow customers in the U.K. to access IT Operations Management (ITOM) SaaS solutions from their local data center. Moreover, it adheres to data residency regulations, consisting of data privacy, storage, security, and transfer, ensuring that customer data is secure and protected.


• January 2023 – OpenText announced the acquisition of MicroFocus, a provider of critical software technology and services that assist customers in accelerating digital transformation. This acquisition expands OpenText’s corporate mission to better manage the new generation of tools, such as cybersecurity, digital operations management, applications modernization & delivery, and AI & Analytics.


• August 2022 – Anaconda Inc., which provides a data science platform, announced a collaboration with Oracle Cloud Infrastructure. The collaboration aims to provide secure open-source R and Python tools and packages by embedding and integrating Anaconda's repository across OCI Machine Learning and Artificial Intelligence Services. This means that customers now have access to Anaconda services directly from within OCI without the need for a separate enterprise license.


• August 2022 – CyberRes, which is a line of business under Micro Focus, announced a new partnership with Google Cloud. This partnership aims to support the launch of BigQuery remote functions. Voltage SecureData, CyberRes' end-to-end enterprise data protection solution, is integrated with Google's BigQuery data warehouse to help organizations expand and accelerate their data science objectives. This integration will also aid companies in complying with privacy regulations, which are continually evolving.

REPORT COVERAGE

The research report includes prominent regions across the globe to get a better knowledge of the industry. Furthermore, it provides insights into the most recent industry trends and an analysis of technologies that are being adopted quickly on a global scale. It also emphasizes on the market’s drivers and restrictions, allowing the reader to obtain a thorough understanding of the industry.

REPORT SCOPE & SEGMENTATION

ATTRIBUTE	DETAILS
Study Period	2019–2032
Base Year	2023
Estimated Year	2024
Forecast Period	2024–2032
Historical Period	2019–2022
Growth Rate	CAGR of 17.1% from 2024 to 2032
Unit	Value (USD billion)
Segmentation	By Component Data Discovery and Classification Data Encryption, Tokenization and Masking Data Auditing and Monitoring Data Authorization and Access Data Governance and Compliance Data Security Analytics Others (Data Backup and Recovery) By Deployment On-premises Cloud By Enterprise Type Small & Mid-sized Enterprises (SMEs) Large Enterprises By Industry IT & Telecom BFSI Healthcare Retail & E-commerce Manufacturing Government Aerospace & Defense Others (Energy & Utilities) By Region North America (By Component, Deployment, Enterprise Type, Industry, and Country) U.S. Canada Mexico South America (By Component, Deployment, Enterprise Type, Industry, and Country) Brazil Argentina Rest of South America Europe (By Component, Deployment, Enterprise Type, Industry, and Country) U.K. Germany France Italy Spain Russia Benelux Nordics Rest of Europe Middle East & Africa (By Component, Deployment, Enterprise Type, Industry, and Country) Turkey Israel GCC North Africa South Africa Rest of the Middle East & Africa Asia Pacific (By Component, Deployment, Enterprise Type, Industry, and Country) China India Japan South Korea ASEAN Oceania Rest of Asia Pacific