Social Media Security Market Projected to Hit USD 3863.45 Million at a 16.40% CAGR by 2030
According to Market Research Future (MRFR), The Social Media Security Market is expected to generate a market value of USD 3863.45 Million by 2030 growing at a CAGR of 16.40%. Due to the huge amount of saved personal data, social media platforms have become a potential channel for cyber attackers to exploit customer data. Some of the key threats organizations face are spams, botnets malware, and direct attacks.
The
social media security market garners substantial traction. Social media
platforms such as Twitter, LinkedIn, Facebook, YouTube, Instagram, and MySpace
have gained huge popularity in recent years. Market growth is led by the rising
adoption of various social media platforms in enterprises as a communication
channel for branding, advertising, and increasing the customer base. Besides,
increasing numbers of social media users escalate market growth.
Rising
data breach & security concerns and cloud-stored data & assets act as a
key tailwind for the market growth. Additionally, the increasing adoption of
smartphones and rising BYOD trend among enterprises boost social media security
market growth. Organizations infected through malware are targeted via social
media or other web applications. The major problem with social media is that
they lack appropriate security strategies and policies for enterprise-wide
social media policies.
Social
media security solutions continuously monitor and analyze all the activities
over websites, applications, networks, and endpoints and alert the user
regarding potential threats and mitigate risk. Also, substantial investments in
deploying advanced security solutions help the overall growth of the market.
COVID 19 pandemic is seen to be impacting the market growth a great deal. Cyber
breach cases have significantly increased during COVID 19 period.
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Segmentation:
The
report is segmented into six dynamics;
By Organization Size: Large Enterprise and SMEs.
By Deployment : On-Cloud and On-Premise.
By Security Type : Web-based Security, Mobile Application
Security, Endpoint Security, Network Security, and Cloud Security.
By Solution : Risk Monitoring, Advanced Threat
Protection, Data Security, Compliance, and others.
By Vertical : BFSI, IT &
Telecommunication, Media & Entertainment, Retail & Ecommerce,
Healthcare, Government, Education, and others.
By
Regions : Americas, Europe, Asia Pacific,
and the Rest-of-the-World.
Social
Media Security Market – Geographical Analysis
North America dominates the global social media
security market. The largest market share attributes to the increasing adoption
of social media platforms in enterprises to stay connected. Besides,
substantial investments in research and development of security solutions to
safeguard enterprise data drive the growth of the market. Moreover, continuous
demand for these solutions among enterprises and individuals fosters the growth
of the regional market.
Well-established economies like the US and Canada
are expected to gain the highest market share. The presence of several
technology providers and development centers in the region boosts the growth of
the market. Vast technological advancements impact market growth, offering a
favorable platform for social media security.
Europe stands second in the global social media
security market. The market growth is driven by the rapidly developing telecom
network infrastructures in the region. Additionally, the growing industries in
the region create substantial market demand and advances in security solutions
and social media platforms. Also, the proliferation of artificial intelligence
(AI) and smart connected devices act as key driving forces for market growth.
Furthermore, faster implementation of advanced
technologies in the region pushes the market growth, posing cybersecurity
challenges. Simultaneously, increasing numbers of cyber-attacks on social media
platforms propel the development of the market.
The Asia Pacific social media security market is
growing briskly. Factors such as the rising trend of social media and the
increasing threat of cyber-attacks substantiate the regional market growth.
Similarly, the growing demand for corporate data security from unauthorized
access and cyber-attacks creates huge market demand. Moreover, increasing
implementations of social media security solutions in rising numbers of
companies increase market sales.
Social
Media Security Market – Competitive Landscape
Highly competitive, the social media security market
appears to be fragmented, with many well-established players forming a
competitive landscape. These players incorporate strategic approaches such as
mergers & acquisitions, collaboration, expansion and, product &
technology launch to gain a substantially larger competitive share. They make
substantial investments to drive R&D activities and expand their global
footprints. Social media security companies strive to develop advanced
technologies entirely on a different level.
Major Players:
Players active in the global social media security
market are RiskIQ (US), ZeroFOX (US), Sophos Ltd (UK), Micro Focus (UK), Trend
Micro Inc. (Japan), Symantec Corporation (US), Broadcom (CA Technologies - US),
Proofpoint (US), Centrify Corporation (US), Hootsuite Inc. (Canada), Digital
Shadows Ltd (US), LookingGlass Cyber Solutions, Inc. (US), Social Sentinel,
Inc. (US), SolarWinds Worldwide, LLC (US), and Centrify Corporation (US), among
others.
Industry/Innovation/ Related News:
October 27, 2020 ---- Rockset
Inc. (the US), a leading global real-time indexing database company, announced
private self-driven deployments for real-time analytics in AWS VPC. Rockset’s
modern data applications help customers to build real-time personalization and
recommendation engines on e-commerce sites, social media newsfeeds, real-time
supply chain logistics, and more. The new enterprise deployment model for
real-time analytics in a company’s Virtual Private Cloud (VPC).
The fully-managed cloud service of Rockset provides
real-time analytics enable customers to retain full control & data
ownership in their own AWS account for maximum security & compliance,
without the operational overhead of managing the deployment.
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Read Our Related Report – https://synkretic.mn.co/posts/proactive-security-market-expected-to-reach-usd-872-billion-with-a-1580-cagr-by-2030
https://network-84066.mn.co/posts/31917334
https://jayprakashmrfr.blogspot.com/2023/01/the-market-for-privacy-management.html
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