Social Media Security Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2886
Social Media Security Market size is driven by the growing number of internal security risks, including cyber terrorism, fraud, and money laundering that arise due to social media platforms. As the adoption of the social media solutions across the globe is increasing, the potential risk of the phishing attacks and the need to protect the confidential information also arises. This encourages organizations to take effective measures to mitigate the risk of cyber-attacks.
The penetration of internet and mobile-based platforms have enabled the individuals to communicate in an interactive manner and exchange vast amounts of user-generated content. This exchange of information between the parties increases the risk of malicious activities and vulnerabilities that lead to data threats and breaches. This is also augmenting the demand for the social media security solutions among the organizations.
The increasing trend of the e-commerce also fosters the market growth. Online retailers leverage on the e-commerce platforms to connect with their customers and provide an enhanced personalized experience. They make it easier for retailers to enhance their businesses by getting leads for their products & services. However, these platforms also expose them to the potential risk of the cyber-attacks and data thefts. This gives rise to the requirement of content security solutions to secure the web content and confidential information of the e-commerce organizations.
The retail segment is expected to show the faster adoption rate of media security solutions during the forecast timeline. With the growth of e-commerce business, retailers are leveraging more on online platforms, which increases the likelihood of customer scams. The increasing number of malware and phishing attacks try to invade the identity of customers and access their financials. Such challenges are expected to generate the demand for security solutions that can be used by the retail companies to protect the data and privacy of their customers.
North America is estimated to dominate the global market due to improvements in the internet infrastructure and the adoption of social media platforms by large organizations. This growing trend of social media among the organizations for business purposes increases the demand for advanced security solutions to secure the data and monitor malicious activities. Also, the presence of some of the key social media security solution providers in the region will trigger the market growth.
The Asia Pacific social media security market is projected to show an unprecedented growth during the forecast timeline due to rapid upgradations in digital infrastructures in the Asian countries. The countries, particularly India and China are investing considerably in digital infrastructure to facilitate the businesses, creating new channels of commerce and economic growth. Furthermore, as smartphones are getting cheaper, the individuals in developing countries are getting more inclined toward social media platforms for recreational purposes.
The major vendors in the market include Trend Micro, SolarWinds, Digital Shadows, Proofpoint, KnowBe4, Hootsuite, Centrify, Social Hub, Brandle, DigitalStakeout, Bowline Security, Social Senital, SecureMySocial, Micro Focus, CA Technologies, ZeroFOX, Crisp Thinking,CSC, Sophos, Symantec, RiskIQ, CoNetrix, and CrowdControlHQ. These players are offering intelligent security solutions to take customers & partners to the next level of security and risk management. For instance, Vidsys and Micro Focus showcased Global Security Operations Center (GSOC) joint solution at ISC West 2018. The solution enables real-time processing of data that is in diverse formats, a streamlined workflow for alerts, offers open-standard connectivity to third-party systems to enable integration, and provides automated analysis for detect issues. Also, in March 2015, CA Technologies and Tech Mahindra entered into an agreement to offer and deploy end-to-end-secured IoT solutions for enterprises worldwide.
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