Growing application of messaging apps as a cost-effective communication platform, increasing adoption of cloud-based services, and inflow of corporate spam email and malicious cyber-attacks are some of the prominent factors driving messaging security market.
Reportedly, cases of phishing, malware, and advanced spam is rising in message segment of communication, as well. Hence, demand of messaging security is growing.
Growing Demand to Secure Confidential Information Fuels Messaging Security Market
Messaging security application acts as a shield against phishing, viruses, malware, and advanced spam. The security solution aids to secure confidentiality and confirm the authenticity of an individual’s or organization’s communication methods.
In addition, messaging security also enable the user to develop secure and safe network for exchange of MMS, SMS, email, and IP messaging.
Rising incidents of data breach is impelling individual and enterprises to implement messaging security. This, in turn, has propelled growth of the global messaging security market.
As per a report published by Transparency Market Research, global messaging security market is projected to scale at a robust CAGR of 13% between 2019 and 2027. In 2019, value of the market size was US $ 3bn. At estimated CAGR, the market value is expected to reach US $ 8 bn by the end of 2027.
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COVID-19 Pandemic Results in Infodemic
In wake of pandemic COVID-19, various cases of cyber scam and message hack have been reported. In a newsletter, the World Health Organization has warned against cyber-crimes occurring under banner of the organization. The esteemed health organization has termed such crimes as ‘infodemic’. In past few weeks, report of phishing attacks through malicious files and links have come across.
To prevent such attacks, companies operating in the messaging security market have been trying to alert the uses by informing them obvious signs of cyber-attacks. Besides, the companies are also bringing innovation in cloud security solutions.
These factors are, conjointly, propelling messaging security market.