The global messaging security market is experiencing growth due to a rise in online threats and an increase in need of rules and regulations.
PORTLAND, Ore., Sept. 12, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Messaging Security Market by Component (Solution and Service), Communication Mode (Email and Instant Messaging), Deployment Mode (On-premise and Cloud), End User (BFSI, Government and Defense, Healthcare, Retail and E-commerce, Media and Entertainment, Manufacturing, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2032." According to the report, the global generated $5.9 billion in 2022, and is estimated to reach $21.6 billion by 2032, witnessing a CAGR of 14.3% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
The messaging security market refers to the segment of the economy dedicated to providing products and services aimed at protecting communication channels from a variety of online threats. This market encompasses a wide array of tools and methods designed to ensure the availability, confidentiality, and integrity of communications transmitted through diverse platforms, including email, instant messaging, and collaborative software. In today's digital era, organizations heavily depend on messaging platforms for their daily operations.
Prime determinants of growth
Factors such as the rise in online threats and increase in need of rules and regulations primarily drive the growth of the messaging security market. However, the rise in cost of implementation and complexity of security solutions hamper the market growth severely. Moreover, a rise in adoption of cloud platforms is expected to provide lucrative opportunities for market growth during the forecast period.
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Report coverage & details:
Report Coverage | Details |
Forecast Period | 2023–2032 |
Base Year | 2022 |
Market Size in 2022 | $5.9 Billion |
Market Size in 2032 | $21.6 Billion |
CAGR | 14.3 % |
No. of Pages in Report | 372 |
Segments covered | Component, Communication Mode, Deployment Mode, End User, and Region. |
Drivers | Rise in online threats Increase in need of rules and regulations |
Opportunities | Rise in adoption of cloud platform |
Restraints | Rise in cost of implementation and complexity of security solutions |
Covid-19 Scenario
- The demand for messaging security solutions has increased as a result of the unexpected transition to remote work and greater reliance on digital communication platforms.
- Cybercriminals have used the pandemic to execute specialized attacks including phishing campaigns and malware distribution, taking advantage of messaging platform weaknesses.
- Organizations have therefore boosted their investment on messaging security solutions to safeguard their sensitive data and reduce the risks brought on by these cyberthreats.
- In order to safeguard these communication channels' confidentiality, integrity, and availability and shield critical information from unauthorized access and data breaches, messaging security solutions have become increasingly important.
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The solution segment to maintain its leadership status throughout the forecast period
Based on component, the solution segment held the highest market share in 2022, accounting for more than two-thirds of the messaging security market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to protect messaging systems such as email, instant messaging, and social media, it necessitates a variety of security methods, such as encryption, authentication, access controls, and threat detection. However, the services segment is projected to manifest the highest CAGR of 16.3% from 2023 to 2032, owing to ensure the effectiveness of the messaging security measures, they assist organizations in identifying vulnerabilities, creating security rules, configuring and integrating security technologies, and performing routine audits and assessments.
The email segment to maintain its leadership status throughout the forecast period
Based on communication mode, the email segment held the highest market share in 2022, accounting for around two-thirds of the messaging security market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to the usage of personal devices or insecure networks by remote workers. However, instant messaging segment is projected to manifest the highest CAGR of 16.6% from 2023 to 2032, owing to rise of remote work, many organizations now rely heavily on instant messaging systems for team collaboration and information exchange.
The on-premise segment to maintain its leadership status throughout the forecast period
Based on deployment mode, the on-premise segment held the highest market share in 2022, accounting for more than three-fifths of the messaging security market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to the organizations that can customize and have more control over their messaging security architecture using the on-premise deployment strategy, which presents a number of benefits and opportunities. However, cloud segment is projected to manifest the highest CAGR of 15.6% from 2023 to 2032, owing to secure their messaging systems by utilizing the scalability and flexibility of cloud infrastructure.
The BFSI segment to maintain its leadership status throughout the forecast period
Based on end user, the BFSI segment held the highest market share in 2022, accounting for more than one-third of the messaging security market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to provide secure communication channels, authenticate users, prevent unauthorized access, and enforce encryption and data protection protocols by setting strong messaging security measures. However, the media and entertainment segment is projected to manifest the highest CAGR of 19.0% from 2023 to 2032, owing to streaming services, digital downloads, and online collaborations, messaging systems have become the norm for exchanging sensitive data and intellectual property.
Asia-Pacific region to garner the major share by 2032
Based on region, the North America segment held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the messaging security market revenue, owing to the increasing reliance on digital communication and the changing threat landscape, the North America region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 18.0% from 2023 to 2032, owing to protect sensitive information, stop phishing attacks, and adhere to data protection laws, businesses and individuals in the region are investing in secure messaging solutions, encryption technology, and threat detection systems.
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Leading Market Players: -
- McAfee, Llc
- Cisco Systems, Inc.
- Trend Micro Incorporated
- Microsoft Corporation
- Broadcom
- Proofpoint, Inc.
- Sophos Ltd.
- Barracuda Networks, Inc.
- F-Secure
- Check Point Software Technologies Ltd.
The report provides a detailed analysis of these key players of the messaging security market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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