Social Media Security Market Size 2021 By Latest Innovation, Business Trends, Pricing Analysis, Emerging Technology, Prominent Players, New Project Investment, Development Status and Forecast to 2023

New York, United States, Fri, 08 Jan 2021 06:30:32 / Comserve Inc. / -- The study also shows that on an average an employee spends 51 minutes on social media for work purpose and the average time is growing at a significant pace.

Market Synopsis

The Social Media Security Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe's organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.

Market synopsis

Social media platforms such as Twitter, Fcaebook, LinkedIn, Instagram, YouTube, and MySpace have gained huge popularity in the recent years. Due to which enterprises are rapidly adopting social media platforms as a communication channel. These platforms have a large user base and huge amount of personal and corporate information such as name, date of birth, pictures, address, customers, employees and brand equity are available on these social media platform. Due to which the social media platforms have become a potential channel for the cyber attackers to exploit the personal customer data. Some of the key threats which organizations should be aware of are spams, malware, botnets and direct attacks.

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Increasing number of malware attacks via social media platform, growing usage of social media platforms on smartphones and increasing adoption of BYOD trend among enterprises are the factors driving the growth of social media security market. The research study conducted by Osterman Research showed that 14 % of the organizations infected through malware were targetted via social media or other web applications. The study also shows that on an average an employee spends 51 minutes on social media for work purpose and the average time is growing at a significant pace. Also, less than one third of the organizations consider that the social media platforms are very vell protected against malware and other cyber attacks which might enter via social media platform.

The major problem with social media is that they have no appropriate security strategies, no policies for enterprise-wide social media policies, and no employee training. Social media security solutions continuously monitors and analyzes all the activities over websites, application, network and endpoints and alerts the user regarding potential threats and helps to mitigate risk. The solutions also deliver actionable insights which help the organizations to be proactive against targeted threats. Along with implementing social media security solutions, the organizations should also define and maintain proper guidelines, train the employess and apply best practise security controls such as application security and content security to reduce social media security risk.

Segmentation

The global social media security market is segmented into various segments on the basis of organization size, deployment, security type, solution, and verticals.By organization size, the market is segmented into large enterprise and SMEs.By deployment, the market is segmented into on-cloud and on-premise.By security type, the market is segmented into web based security, mobile application security, endpoint security, network security, and cloud security.By solution, the market is segmented into risk monitoring, advanced threat protection, data security, compliance, and others.By vertical, the market is segmented into BFSI, IT & telecommunication, media & entertainment, retail & ecommerce, healthcare, government, education, and others.

Regional analysis

The global market for social media security market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of the social media security market is done for North America, Europe, Asia-Pacific, and the rest of the world.

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North America is expected to dominate the market during the forecast period. The major factor influencing the growth of market in this region is major key players from well-established economies like the US, and Canada, that are spending a large share on research and development of security solutions to safeguard enetrprise data. Also, increasing adoption of social media platforms in enterprises to stay connected is another reason driving the growth of Social media security market. Asia-Pacific is expected to grow at a significant rate owing to government initiatives supporting the growth of SMEs. The SMEs will require social media security solutions as they are increasingly adopting social media platforms for branding, advertising and increasing their customer base.The global Social media security market is expected to generate a market value of USD 1.9 billion by 2023 growing at a CAGR of ~ 17%.

Key players

The prominent players in the market of social media security are ZeroFOX. (US), RiskIQ (US), Sophos Ltd (UK), Trend Micro Inc. (Japan), Micro Focus (UK), Symantec Corporation (US), Broadcom (CA Technologies) (US), Centrify Corporation (US), Proofpoint (US), and SolarWinds Worldwide, LLC (US).

Other players include LookingGlass Cyber Solutions, Inc. (US), Hootsuite Inc. (Canada), Digital Shadows Ltd (US), Centrify Corporation (US), and Social Sentinel, Inc. (US) among others.

Intended Audience

Associations, Organizations, Forums, And Alliances

Social Media Platform Provider

Social Media Security Service Vendor

Internet Service Providers

Security Software Developers

Government Bodies and Departments

Technical Universities

Cloud Service Providers

Research and Development Companies

Market Research and Consulting Firms

Technology Investors

Technology Providers

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