Fast Facts: Big Data Security Is Big Business

In the fast-paced IT industry, new statistics and data are released daily. Each week, Enterprise Mobility Exchange publishes Fast Facts, taking a look at interesting or noteworthy information impacting businesses.

Arguably the two hottest topics in enterprise technology today are big data and security. It just so happens all that data being produced by end users in the enterprise needs to be secured, and that’s why the market is booming.

According to a new study by Markets and Markets, the Big Data Security market is set to more than double in market value in just a half decade. Thanks to a CAGR of 17.1%, forecasts predict a $12.2 billion value will balloon to $26.85 billion market between 2017 and 2022.

So what’s driving this particular growth?

“The Banking, Financial Services, and Insurance (BFSI) vertical is expected to have the largest market share among all the verticals throughout the forecast period,” the report stated. “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.”

Geographically, North America is expected to constitute the largest market share during the timeframe, but the APAC region will grow at the highest CAGR between now and 2022.

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