According to Stratistics MRC, the “Global Messaging Security Market” is expected to grow from $1.76 billion in 2016 to reach $5.39 billion by 2023 with a CAGR of 17.3%. Factors such as growing acceptance of Virtual Appliance-Based and Cloud-Based solutions, rising need among customers for integrated solutions to secure confidential information are favouring the market. On the other hand, the expensive cost of advanced messaging security solutions is one of the major factors in restricting the market growth.
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Messaging security is a program that protects a specific business messaging infrastructure. The security system offers partial message encryption, transport independence, and end-to-end security. The messaging security system includes security measures such as pattern-based anti-spam, the administrator based allow or blocklists, antivirus for email, IP reputation based anti-spam, and email intrusion prevention. The system is usually utilized for developing safe and secure network messaging against various threats and to restrict unwanted messages.
Opportunity: Increasing popularity of cloud-based security solutions to weaponize against attackers
An increasing number of corporates and enterprises are working through multi-cloud environments. Hence, it is inevitable for organizations in the messaging security market to enhance cloud security services. Accordingly, the revenue of SaaS/cloud system deployment is anticipated for exponential growth in the messaging security market. Subsequently, companies are announcing the launch of their new cloud security innovations with expanded capabilities in their existing Messaging Security platform to protect collaboration tools from malicious attacks.
Driver: Growing adoption of mobile devices is driving the market growth
Organizations are growing utilizing instant messaging applications for external and internal communication, as they are a faster and cheaper mode of communication. So, with the accelerating acceptance of this mode of communication, it becomes important to secure the messaging infrastructure as the communication surroundings are no longer safe. The accelerating demand for mobile devices for smoother communication among enterprises and its employees, through a network confined against threats, is paving the way for the acceptance of safe messaging solutions and thus, facilitating protected access to critical enterprise information. Hence, the growing adoption of mobile devices is acting as another key driving factor contributing to market growth.
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Depending on deployment mode, the cloud segment is expected to grow at the significant market share during the forecast period as cloud deployment benefits organizations with increased scalability, speed, 24/7 services, enhanced management capabilities, convenience, accessibility, and easy maintenance.
South America region is anticipated to hold considerable market share during the forecast period:
By geography, the South America region is anticipated to hold considerable market share during the forecast period as SMEs as well as enterprises belonging to a range of verticals, such as Banking, Financial Services, and Insurance (BFSI), government, and healthcare and life sciences, which are anticipated to augment the investments in messaging security solutions.
Some of the key players in global Messaging Security market include Proofpoint, Inc, Sophos Ltd, Mcafee, LLC, F-Secure Corporation, Trustwave Holdings, Inc, Microsoft Corporation, Mimecast Limited, Cisco Systems Inc, Barracuda Networks Inc, Clearswift Group, Trend Micro Incorporated, Forcepoint, Symantec Corporation, Adaptive Mobile Security Limited, Check Point Software Technologies Ltd and Google Inc.
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Proofpoint, Inc.: In June 2016, Proofpoint, Inc. partnered with LinkedIn. Building on the previously announced venture between LinkedIn and Proofpoint and two companies that Proofpoint acquired, Nexgate and Socialware, the deepened relationship will include expanded collaboration around social media security and compliance.
Google Inc.: In Sep 2015, Google Inc. acquired Jibe Mobile to help adopt a new standard for carrier messaging. As part of this commitment, Google Company was very excited to announce that the Jibe Mobile team is joining Google to help them bring RCS to a global audience. Jibe is a leading provider of RCS services and they’ll continue helping carriers easily deploy RCS to their users.
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