PUBLISHER: The Business Research Company | PRODUCT CODE: 1681997
PUBLISHER: The Business Research Company | PRODUCT CODE: 1681997
Business email compromise (BEC) is a form of cybercrime wherein attackers deceive individuals into transferring funds or sensitive information by impersonating trusted entities through fraudulent emails. This often involves the use of social engineering tactics to manipulate recipients into taking unauthorized actions.
The main types of offerings included in business email compromises are solutions and services. A solution refers to a group of connected software applications and services that are offered as a single unit. These solutions can be deployed in the cloud or on-premise and are suitable for organizations of various sizes, including SMEs (small and medium enterprises) and large enterprises. They find application across several verticals, such as banking, financial services, and insurance, government, IT (information technology), and ITeS (information technology-enabled services), energy and utilities, manufacturing, retail and e-commerce, healthcare, and others.
The business email compromise market research report is one of a series of new reports from The Business Research Company that provides business email compromise market statistics, including business email compromise industry global market size, regional shares, competitors with a business email compromise market share, detailed business email compromise market segments, market trends and opportunities, and any further data you may need to thrive in the business email compromise industry. This business email compromise 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 business email compromise market size has grown rapidly in recent years. It will grow from $1.9 billion in 2024 to $2.22 billion in 2025 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to phishing tactics evolution, exploitation of trust relationships, email spoofing and impersonation, lack of email security measures, financial gain incentive, globalization and remote work.
The business email compromise market size is expected to see rapid growth in the next few years. It will grow to $4.34 billion in 2029 at a compound annual growth rate (CAGR) of 18.2%. The growth in the forecast period can be attributed to weaknesses in email security infrastructure, global connectivity and remote work risks, ransomware integration in bec, continued lack of employee training, growing collaboration among cybercriminals. Major trends in the forecast period include global expansion of attacks, cross-channel exploitation, adaptation to security protocols, use of psychological manipulation, email account compromise.
The rising adoption of cloud-based email services is expected to drive the growth of the business email compromise (BEC) market in the coming years. Cloud-based email services are internet-hosted platforms that allow users to send, receive, and store emails without relying on local servers or infrastructure. These services enhance BEC protection by providing integrated advanced security features, centralized monitoring, and scalability, which increases the demand for specialized solutions and services to prevent business email compromise. For instance, in July 2024, Eurostat, a Luxembourg-based government organization, reported that European enterprises primarily utilize cloud services for email (79%) and file storage (66%), with other popular applications including office software (61%), financial/accounting software (47%), and hosting enterprise databases (46%). Thus, the growing adoption of cloud-based email services is propelling the expansion of the business email compromise market.
The increasing frequency of business email compromise (BEC) and spear-phishing attacks is expected to enhance the growth of the business email compromise market in the future. A business email compromise attack is a cyberattack that involves fraudulent or compromised emails aimed at businesses and organizations. As incidents of BEC and spear-phishing attacks become more prevalent and garner media attention, organizations are becoming more cognizant of the cyber threats they face. This heightened awareness results in a greater willingness to invest in solutions to safeguard against such attacks. For instance, in June 2024, ASTRA IT, Inc., a US-based computer application company, reported that in 2022, approximately 255 million phishing attacks were documented, representing a 61% increase from the previous year. Nearly 1.2% of all emails sent were found to be malicious, totaling around 3.4 billion phishing emails daily, with 68% of the nearly 100 million blocked by Gmail originating from previously unknown scams. Therefore, the rising incidents of BEC and spear-phishing attacks are driving the expansion of the business email compromise market.
Leading companies in the business email compromise market are strategically focusing on the development of innovative technologies, particularly artificial intelligence (AI) solutions, to gain a competitive advantage. AI solutions involve the application of AI techniques within a software application to address specific problems or tasks. For instance, SlashNext Inc., a cybersecurity company, launched Generative HumanAI in February 2023, representing the industry's first AI product utilizing generative AI to protect against advanced BEC, supply chain assaults, financial fraud, and executive impersonation. The solution employs AI data augmentation and cloning technologies to automatically generate thousands of potential BEC threats, enhancing the detection of malicious emails through natural language processing. This emphasis on innovative technologies showcases the commitment of major companies to stay ahead in the competitive business email compromise market.
In August 2024, Mimecast Limited, a UK-based IT security company, acquired Aware, Inc. for an undisclosed amount. This acquisition is intended to bolster Mimecast's capabilities in the business email sector by improving its ability to detect and mitigate human-centered security risks within email and collaboration tools, ultimately aiming to reduce vulnerabilities and enhance data protection for organizations. Aware, Inc. is a publicly held company based in the US that specializes in providing biometrics software, services, and solutions.
Major companies operating in the business email compromise market report are Microsoft Corporation, Cisco Systems Inc., Broadcom Inc., Fortinet Inc., OpenText Corporation, Check Point Software Technologies Ltd., Trend Micro Inc., Cloudflare Inc., Fortra LLC, Symphony Technology Group, Mimecast Limited, Barracuda Networks Inc., Acronis International GmbH, Egress Software Technologies Ltd., Zix Corp, ZeroFox Holdings Inc., Tessian Limited, SafeGuard Cyber Inc., Heimdal Security A/S, Cofense Bidco Corporation, Agari Data Inc., Virtru Corporation, Ironscales Inc., Valimail Inc., Redscan Cyber Security Ltd., Abnormal Security Corporation, Trustifi LLC, Retruster Ltd., Cellopoint International Corp., GreatHorn Inc.
North America was the largest region in the business email compromise market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the business email compromise market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the business email compromise market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The business email compromise market includes revenues earned by entities by providing email-based threat solutions, vulnerability-focused solutions, human-centric protection solutions, and account compromise solutions. 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.
Business Email Compromise Global Market Report 2025 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 business email compromise 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 business email compromise ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The business email compromise 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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.