PUBLISHER: The Business Research Company | PRODUCT CODE: 1608771
PUBLISHER: The Business Research Company | PRODUCT CODE: 1608771
Messaging security encompasses a range of measures and technologies aimed at ensuring the confidentiality, integrity, and availability of messages transmitted across digital communication platforms. This includes the implementation of encryption, authentication, anti-spam, and anti-malware solutions to protect email, instant messaging, and other communication systems from various threats. By safeguarding sensitive information, messaging security facilitates secure communication and prevents unauthorized access or tampering.
The primary components of messaging security consist of solutions and services. Messaging security solutions are technologies specifically designed to defend email and messaging systems against threats such as phishing, malware, and spam. Communication occurs through email messaging and instant messaging, with deployment options available in both cloud-based and on-premise formats. Key industries utilizing messaging security include banking, financial services and insurance (BFSI), healthcare and life sciences, media and entertainment, automotive and manufacturing, education, retail and e-commerce, government, and others.
The messaging security market research report is one of a series of new reports from The Business Research Company that provides messaging security market statistics, including messaging security industry global market size, regional shares, competitors with a messaging security market share, detailed messaging security market segments, market trends and opportunities, and any further data you may need to thrive in the messaging security industry. This messaging security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 observed during the historic period can be attributed to several key factors such as escalation in cyber threats, heightened regulatory compliance requirements, the expansion of digital communication, the proliferation of remote and hybrid work models, and advancements 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 anticipated growth during the forecast period can be attributed to several factors, including the increasing adoption of cloud-based solutions, the advancement of artificial intelligence and machine learning, the proliferation of mobile devices, the expansion of digital transformation initiatives, and heightened investment in zero trust security models. Major trends expected to shape the forecast period include the growth of unified threat management solutions, rising demand for end-to-end encryption, the expansion of secure mobile messaging solutions, the emergence of secure collaboration tools, and increased adoption of multi-factor authentication.
The rising prevalence of cyberattacks is anticipated to significantly drive the growth of the messaging security market in the near future. Cyberattacks involve malicious attempts by individuals or groups to disrupt, damage, or gain unauthorized access to computer systems, networks, or data, often with the intent to steal information, cause harm, or demand ransom. The surge in cyberattacks is largely attributed to increased digitalization, the expansion of remote work, and the growing sophistication of attackers leveraging advanced technologies to exploit vulnerabilities. Messaging security plays a critical role in protecting email and messaging platforms from threats such as phishing, malware, and unauthorized access, ensuring the confidentiality, integrity, and availability of communications while preventing data breaches and information leaks. For example, the Australian Signals Directorate reported in November 2023 that approximately 94,000 cybercrime reports were submitted to ReportCyber during the 2022-23 financial year, marking a 23% increase compared to the previous year. This highlights the growing threat landscape and the corresponding demand for effective messaging security solutions.
Key players in the messaging security market are focusing on developing innovative solutions such as secure messaging to safeguard sensitive data and document all communications. Secure messaging involves the encrypted transmission of sensitive information between parties, ensuring privacy and compliance, and is particularly important in sectors such as healthcare for protecting patient data. For instance, in November 2023, SSH Communications Security, a Finland-based cybersecurity company, launched Secure Messaging 2024, a new secure messaging solution. This platform offers features such as end-to-end encryption, secure file transfers, and compliance with stringent data privacy regulations. It also includes advanced identity management and access controls to ensure secure communication within organizations, thereby enhancing data protection and reducing the risk of unauthorized access.
In May 2023, Cisco Systems, Inc., a US-based technology company, acquired Armorblox for an undisclosed amount. This acquisition strengthens Cisco's cybersecurity portfolio by integrating advanced artificial intelligence (AI)-powered email security and data protection features. It enhances Cisco's capability to identify and mitigate sophisticated threats, including phishing and business email compromise, thereby improving customer security and minimizing the likelihood of data breaches. Armorblox is a US-based specializes in messaging security solutions, further bolstering Cisco's offerings in this critical area.
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
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.
The countries covered in the messaging security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The messaging security market includes revenues earned by entities by providing services such as email security services, anti-spam and anti-phishing services, and encryption services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Messaging Security Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on messaging security market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for messaging security ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The messaging security market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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