The messaging security market is anticipated to grow at a significant CAGR of 25.0% during the forecast period (2022-2028). Messaging security is used to secure a company’s messaging infrastructure against viruses. It also protects consumers from spam and allows for block/allow lists. The major factor driving the growth of the global messaging security market includes security products and solutions that are becoming more widely embraced as a result of enterprises implementing remote work access in many nations under COVID-19 lockdown. Furthermore, as corporate interactions rapidly transit to consumer messaging apps on mobile devices, organizations are experiencing increased security threats. BYOD (Bring Your Own Device) and smartphone use are on the rise, and employees are using consumer-grade messaging applications that lack the physical and technical protections required for workplace communication, putting businesses in danger. Thus, increasing the demand for messaging security solutions.
The global messaging security market is segmented based on deployment type, messaging type, and end-user. Based on the deployment type, the market is sub-segmented into cloud and on-premise. Based on the messaging type, the market is sub-segmented into email and SMS. Based on end-user, the market is sub-segmented into government, BFSI, healthcare, media & entertainment, retail & e-commerce, manufacturing, and education. Among these end-users, the BFSI segment is expected to propel the growth of the market as customers create a vast amount of data, which the banking industry collects. Banks and financial institutions are increasingly using services to store and analyze complicated data in order to better utilize the data obtained from multiple data points and increase client satisfaction. Banking institutions are being driven to take a proactive approach to security, embracing cloud-based security systems, as a result of rising consumer expectations, technology capabilities, and regulatory obligations.
The market players are also contributing significantly to the market’s growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in January 2020, Accenture Inc. intended to buy Symantec’s Cyber Security Services division from Broadcom in order to assist businesses in better predict, identifying, and responding to cyber-attacks. Accenture Security will offer one of the most complete managed services for global enterprises to identify and manage cybersecurity threats, such as email phishing and spamming, among others, directed at their firms with the inclusion of cybersecurity services.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Deployment Type
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Mcafee LLC, Cisco Systems Inc., Barracuda Networks Inc., Microsoft Corp., Trend Micro Inc., TATA Communications Ltd., Mimecast Ltd., Sophos Ltd., and Proofpoint Inc., among others.
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Global Messaging Security Market Report by Segment
By Deployment Type
- Cloud
- On-Premise
By Messaging Type
- SMS
By End-User
- Government
- BFSI
- Healthcare
- Media & Entertainment
- Retail & E-commerce
- Manufacturing
- Education
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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