Social Media Security Market is Poised to Generate a Valuation of USD 1.9 BN by 2023
Research Reports
Jan 06, 2021
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.
According to Market Research Future (MRFR), the social media security market is poised to generate a valuation of USD 1.9 BN by 2023, growing at approximately 17% CAGR throughout the assessment period (2017 – 2023). 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.
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.
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Social Media Security Market – Segments
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. Access Complete Report @ https://www.marketresearchfuture.com/reports/social-media-security-market-6842 About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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