The largest reported data leakage as of January 2025 was the Cam4 data breach in March 2020, which exposed more than 10 billion data records. The second-largest data breach in history so far, the Yahoo data breach, occurred in 2013. The company initially reported about one billion exposed data records, but after an investigation, the company updated the number, revealing that three billion accounts were affected. The National Public Data Breach was announced in August 2024. The incident became public when personally identifiable information of individuals became available for sale on the dark web. Overall, the security professionals estimate the leakage of nearly three billion personal records. The next significant data leakage was the March 2018 security breach of India's national ID database, Aadhaar, with over 1.1 billion records exposed. This included biometric information such as identification numbers and fingerprint scans, which could be used to open bank accounts and receive financial aid, among other government services.

Cybercrime - the dark side of digitalization As the world continues its journey into the digital age, corporations and governments across the globe have been increasing their reliance on technology to collect, analyze and store personal data. This, in turn, has led to a rise in the number of cyber crimes, ranging from minor breaches to global-scale attacks impacting billions of users – such as in the case of Yahoo. Within the U.S. alone, 1802 cases of data compromise were reported in 2022. This was a marked increase from the 447 cases reported a decade prior. The high price of data protection As of 2022, the average cost of a single data breach across all industries worldwide stood at around 4.35 million U.S. dollars. This was found to be most costly in the healthcare sector, with each leak reported to have cost the affected party a hefty 10.1 million U.S. dollars. The financial segment followed closely behind. Here, each breach resulted in a loss of approximately 6 million U.S. dollars - 1.5 million more than the global average.

As of December 2024, the most significant data breach incident in the United States was the Yahoo data breach that dates back to 2013-2016. Impacting over three billion online users, this incident still remains one of the most significant data breaches worldwide. The second-biggest case was the January 2021 data breach at Microsoft, involving about 30 thousand companies in the United States and around 60 thousand companies around the world.

As of January 2025, the most significant data breach incident in the United Kingdom (UK) was the 2017-2018 Dixons Carphone breach. As a result of this incident, 14 million user records were affected, and 5.6 million payment card information was exposed. The Equifax data breach between 2011 and 2016 impacted over 15 million customers nationwide.

In 2024, the number of data compromises in the United States stood at 3,158 cases. Meanwhile, over 1.35 billion individuals were affected in the same year by data compromises, including data breaches, leakage, and exposure. While these are three different events, they have one thing in common. As a result of all three incidents, the sensitive data is accessed by an unauthorized threat actor. Industries most vulnerable to data breaches Some industry sectors usually see more significant cases of private data violations than others. This is determined by the type and volume of the personal information organizations of these sectors store. In 2024 the financial services, healthcare, and professional services were the three industry sectors that recorded most data breaches. Overall, the number of healthcare data breaches in some industry sectors in the United States has gradually increased within the past few years. However, some sectors saw decrease. Largest data exposures worldwide In 2020, an adult streaming website, CAM4, experienced a leakage of nearly 11 billion records. This, by far, is the most extensive reported data leakage. This case, though, is unique because cyber security researchers found the vulnerability before the cyber criminals. The second-largest data breach is the Yahoo data breach, dating back to 2013. The company first reported about one billion exposed records, then later, in 2017, came up with an updated number of leaked records, which was three billion. In March 2018, the third biggest data breach happened, involving India’s national identification database Aadhaar. As a result of this incident, over 1.1 billion records were exposed.

As of January 2025, the most significant data privacy violation fine worldwide was for social media giant Meta. In May 2023, the Data Protection Commission (DPC) of Ireland decided to fine the company with 1.2 billion euros or 1.3 billion U.S. dollars. The Chinese vehicle-for rent company Didi Global ranked second. In July 2022, China's data privacy regulator fined the company 8.026 billion Chinese yuan, or 1.19 billion U.S. dollars. The 2021 Amazon fine issued by Luxembourg's data privacy regulation authorities was 877 million U.S. dollars and was the third-biggest data breach fine as of the measured month. The 2019 fine of 575 million U.S. dollars to Equifax followed. In this incident, because of unpatched vulnerabilities, nearly 150 million people were affected, which caused the American consumer credit reporting agency to pay at least 575 million U.S. dollars.

According to Cognitive Market Research, the Global Information Security Consulting Market is expected to have a market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.

The Asia-Pacific region has the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
North America is the fastest growing with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
Cloud Security has the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
The cloud segment has the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
Large Enterprise has the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
The BFSI segment has the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.

Market Dynamics

Key drivers

The increasing number of cyber-attacks globally is favoring market growth

Strong security solutions are in more demand as a result of the growing anxiety that cyber assaults are causing among both individuals and enterprises. Any hostile action directed towards computer networks, infrastructures, personal computers, smartphones, or computer information systems is called a cyberattack. Because of this and the need for more stringent security and regulatory compliance, the information security consulting industry is growing quickly. For instance, according to McKinsey and company, cyberattacks are on track to cause $10.5 trillion a year in damage by 2025. That’s a 300 percent increase from 2015 levels. To protect against the onslaught, organizations around the world spent around $150 billion on cybersecurity in 2021, and this sum is growing by 12.4 percent a year. In all industries combined, the average cost of a single data breach as of 2022 was approximately 4.35 million US dollars. The healthcare industry was shown to be the most expensive for this, with each leak estimated to have cost the impacted party a whopping 10.1 million dollars. The segment on finances was closely followed. The Cam4 data breach in March 2020, which revealed over 10 billion data records, was the largest known data leak as of January 2024. The Yahoo data breach, which happened in 2013, is currently the second-largest data breach in history. To compact these increasing data breaches and cybercrimes, many company solutions have been in development and adopted. Cloud migration will remain a key component of many organizations' technological agendas. For this reason, cloud providers must be able to safeguard both standard and customized cloud configurations. Furthermore, there is a sharp rise in the demand for cyber security in the fields of healthcare, banking and financial services, aviation, and automobiles. Some of the main factors driving the demand for technologically advanced information security solutions among businesses are the emergence of IoT and connected technologies, the quick adoption of smartphones for digital payments, and the use of unsecured networks for accessing organizational servers. Therefore, the market is expected to grow significantly in the coming years.

(Source-http://https://www.statista.com/statistics/290525/cyber-crime-biggest-online-data-breachesworldwide/#:~:text=The%20largest%20reported%20data%20leakage,data%20breach%2C%20occurred%20in%202013.)

The rise in the number of regulations and developments has favoured the market growth

As cyber risks continue to grow, information security has become a key concern for both individuals and enterprises. The laws and regulatory requirements that are propelling the information security market's expansion are intended to strengthen cybersecurity defenses and shield private information from nefarious individuals. For instance, The United States government enacted two cybersecurity laws into law in June 2022. The first bill, the State and Local Government Cybersecurity Act of 2022, aims to improve cooperation between state, territorial, local, and tribal governments as well as the Cybersecurity and Infrastructure Security Agency (CISA). It is anticipated that these important actions will boost the i...

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Big Data Security Market Size and Trends

The big data security market size is forecast to increase by USD 19.08 billion, at a CAGR of 14.4% between 2023 and 2028. In the realm of business data management, ensuring safe and compliant operations in big data deployments is paramount. With the proliferation of intrusive cyber threats, such as ransomware attacks, unauthorized users, and ransom demands, the need for strong big data security solutions has become increasingly vital. Market trends indicate a growing emphasis on automating security measures to monitor and protect valuable information. This shift is driven by stringent regulations regarding data protection and the significant investments required for implementing effective security solutions. By staying abreast of these trends and addressing the challenges they present, businesses can safeguard their Big Data assets and maintain uninterrupted operations.

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Big data deployments have become an integral part of modern business operations, enabling organizations to make data-driven decisions and gain a competitive edge. However, with the increasing volume and complexity of business data, ensuring its security and compliant operation has become a significant challenge. Intruders, ransomware attacks, unauthorized users, and other threats pose a constant risk to valuable information, intellectual property (IP), and transactional data. To mitigate these risks, it is essential to implement security measures for big data deployments, including intrusion detection systems, access control policies, and encryption techniques. Monitoring data at various stages, from data ingress to stored data and data output, is crucial for identifying and responding to threats in real time. Ransomware attacks and unauthorized buyers pose significant threats to big data security. Ransom demands can result in substantial financial losses, while unauthorized access to valuable data can lead to reputational damage and regulatory fines. Regulators are increasingly focusing on data security and privacy, with stringent regulations such as the General Data Protection Regulation (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA) setting high compliance standards.

Intelligent processes and security toolsets play a crucial role in ensuring safe and compliant big data deployments by helping organizations identify and respond to threats in real time, automate compliance reporting, and provide insights into user behavior and data access patterns. By leveraging these tools, organizations can minimize the risk of data breaches and ensure regulatory compliance. In conclusion, ensuring the security and compliant operation of big data deployments is critical for business success. By implementing security measures, monitoring data at various stages, and leveraging intelligent processes and security toolsets, organizations can protect valuable information and IP while maintaining regulatory compliance. With the increasing importance of data in business operations, prioritizing security in big data deployments is no longer an option but a necessity.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

Deployment

  On-premises
  Cloud-based


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  South America



  Middle East and Africa

By Deployment Insights

The on-premises segment is estimated to witness significant growth during the forecast period. Big data security is a critical concern for businesses deploying on-premises servers to manage their valuable information. In this setup, companies own and manage their hardware and software infrastructure, including servers and storage units, on their secure premises. These sites are equipped with necessary climate control and security measures to ensure safe and compliant operation. However, with the increasing threats from intruders, ransomware attacks, and unauthorized users, it is essential to implement security measures.

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The on-premises segment was valued at USD 10.01 billion in 2018. Companies must monitor their systems closely to detect and prevent potential breaches. This includes setting user access policies, installing firewalls, antivirus software, and ensuring timely security patch installations. Moreover, businesses must guard against ransom demands from attackers who may gain unauthorized access to their data. A ransomware attack can lead to significant downtime and financial losses. Therefore, it is crucial to invest in advanced security solutions to protect against such thr

In 2023, the monetary damage caused by cybercrime reported to the United States' Internet Crime Complaint Center (IC3) saw a year-over-year increase of around 21 percent, amounting to a historical peak of 12.5 billion U.S. dollars. Cybercrime in the U.S. Cybercrime continues to be one of the biggest challenges for governments around the world. In the United States, phishing and personal data breaches were among the most reported categories of cybercrime in 2022, with over 300 thousand people falling victim to phishing attacks. Additionally, data breaches cost the U.S. organizations over nine million U.S. dollars on average as of January 2023. Identity theft is a serious issue in the U.S. Along with other reported online crimes, identity theft was a prevalent issue that affected millions of people in the United States. The country ranked second globally in reported cases of identity theft, with an estimated 13.5 million Americans falling victim to this crime. As a result, millions of users had their lives turned upside down. In January 2023, 43 percent of identity theft victims reported wasting their time resolving issues, while 33 percent had no choice but to freeze their credit cards. Furthermore, sometimes threat actors targeted seniors, as in 2022, more than 4800 individuals over 60 reported being victims of identity theft.

A survey carried out in 2021 revealed how important having more control over personal data is to adults in the United States. A third of respondents said this was extremely important to them, another third said it was very important, and roughly 24 percent said it was moderately important. Just two percent said having more control over personal data and how it is shared was not at all important to them.

Most Americans worry about falling victim to cybercrime

When asked in a 2020 survey to name crimes they were most afraid of, the majority of American respondents claimed to be more worried about cybercrimes than having their home broken into or car stolen. The top two concerns were having personal financial information stolen by hackers, and being the victim of identity theft. This is unsurprising, considering the rise in data breaches and exposed records over the past decade. In the United States alone, 1.6 billion data breaches were reported in 2017 - the highest figure to date. It is likely that this figure was somewhat impacted by the infamous Yahoo! data breach scandal that year, where 3 billion user accounts worldwide were compromised. This has been recognized as one of the largest breaches of its kind in history.

IT security market on the rise

As a direct result of increasing security demands and rising concerns, more companies than ever before are investing in cyber security, both in the form of services and technology. The information security technology market is booming, and as a result worldwide spend is predicted to hit nearly 175 billion U.S. dollars by 2024, a 50 billion dollar increase from one year prior.