The messaging security global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Messaging Security Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The messaging security market size has grown rapidly in recent years. It will grow from $7.20 billion in 2023 to $8.56 billion in 2024 at a compound annual growth rate (CAGR) of 18.9%. The growth in the historic period can be attributed to an increase in cyber threats, regulatory compliance requirements, growth of digital communication, expansion of remote and hybrid work models, and advances in encryption technology.
The messaging security market size is expected to see rapid growth in the next few years. It will grow to $17.18 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to rising adoption of cloud-based solutions, growth of artificial intelligence and machine learning, proliferation of mobile devices, expansion of digital transformation initiatives, and increased investment in zero trust security models. Major trends in the forecast period include the growth of unified threat management solutions, increasing demand for end-to-end encryption, expansion of secure mobile messaging solutions, the rise of secure collaboration tools, and increased adoption of multi-factor authentication.
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Scope Of Messaging Security Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Messaging Security Market Overview
Market Drivers –
The rising prevalence of cyberattacks is expected to propel the growth of the messaging security market going forward. Cyberattacks are malicious attempts by individuals or groups to disrupt, damage, or gain unauthorized access to computer systems, networks, or data, often to steal information, cause harm, or demand ransom. The rising prevalence of cyberattacks is driven by increased digitalization, the expansion of remote work, and the growing sophistication of attackers using advanced technologies to exploit vulnerabilities in systems and networks. Messaging security is used to protect against cyberattacks by securing email and messaging platforms from threats such as phishing, malware, and unauthorized access, ensuring the confidentiality, integrity, and availability of communications, and preventing data breaches and information leaks. For instance, in November 2023, according to the Australian Signals Directorate, an Australia-based federal agency, in the 2022–23 financial year, approximately 94,000 cybercrime reports were submitted to ReportCyber, marking a 23% increase compared to the 2021–22 financial year. Therefore, the rising prevalence of cyberattacks is driving the growth of the messaging security market.
Market Trends –
Major companies operating in the messaging security market are focused on developing innovative solutions such as secure messaging to protect sensitive data and record all communications. Secure messaging is the encrypted transmission of sensitive information between parties to ensure privacy and compliance, commonly used in sectors such as healthcare to protect patient data. For instance, in November 2023, SSH Communications Security, a Finland-based cybersecurity company, introduced Secure Messaging 2024, a secure messaging solution. This platform provides features like end-to-end encryption, secure file transfers, and compliance with stringent data privacy regulations. It also incorporates advanced identity management and access controls to ensure secure communication within organizations, improving data protection and minimizing the risk of unauthorized access.
The messaging security market covered in this report is segmented –
1) By Component: Solution, Services
2) By Mode Of Communication: Email Messaging, Instant Messaging
3) By Deployment: Cloud-based, On-premise
4) By Industry: Banking, Financial Services And Insurance (BFSI), Healthcare And Lifesciences, Media And Entertainment, Automotive And Manufacturing, Education, Retail And E-commerce, Government, Other Industries
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Regional Insights –
North America was the largest region in the messaging security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the messaging security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the messaging security market are Microsoft Corporation, Cisco Systems Inc., Broadcom Inc., Open Text Corporation, McAfee Corp., Trellix, Kaspersky Lab, Proofpoint Inc., Trustwave Holdings Inc., Secureworks, Barracuda Networks Inc., Trend Micro Inc., Mimecast Limited, WithSecure, Francisco Partners, Egress Software Technologies Ltd., Sophos Ltd., Agari Data Inc., Valimail, Hornetsecurity GmbH, GreatHorn Inc., MailChannels, MailGuard Pty Ltd., Trustifi
Table of Contents
1. Executive Summary
2. Messaging Security Market Report Structure
3. Messaging Security Market Trends And Strategies
4. Messaging Security Market – Macro Economic Scenario
5. Global Messaging Security Market Size and Growth
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32. Global Messaging Security Market Competitive Benchmarking
33. Global Messaging Security Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Messaging Security Market
35. Messaging Security Market Future Outlook and Potential Analysis
36. Appendix
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