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According to the latest report by IMARC Group, titled "Big Data Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global big data security market reached a value of US$ 19.6 Billion in 2022. Big data security is adopted by businesses in order to protect the data from cyber thefts and malicious activities. It usually includes several tools and measures that are undertaken to safeguard numerous analytical processes. Some of the commonly used security methods include authorization, authentication, and centralized administration that helps to prevent unauthorized access to business data, storage logs and transactions. As a result, it aids in providing endpoint security, increases system efficiency and robustness, enhances communication and facilitates the availability of information while allowing convenient resource sharing across the organization.
Global Big Data Security Market Trends:
The global market is primarily driven by significant growth in the information technology (IT) sector. Along with this, the increasing incidences of cyberattacks and data thefts across the globe have encouraged multiple businesses to heavily invest in the deployment of efficient security systems, which is providing a boost to the market growth. Moreover, continual technological advancements are creating a positive outlook for the market. For instance, the widespread integration of machine learning (ML) and artificial intelligence (AI) technologies with big data security solutions is positively influencing the market growth. Furthermore, the rising adoption of the work-from-home model due to the sudden outbreak of coronavirus disease (COVID-19) has accelerated the need for big data security solutions in order to safeguard the remote working environment. Other factors, including a significant rise in data generation and extensive research and development (R&D) activities conducted by key players, are also projected to drive the market growth further. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 16.1% during the forecast period (2023-2028).
Market Summary:
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