Messaging Security Market, By Components (Solution, Service), By Solution (Email Encryption), By Service (Professional Service, Managed Service), By Mode of Communication (Instant Messaging), By Deployment (Cloud, On-Premise) - Forecast 2023
Messaging security solutions protect the messaging infrastructure of an enterprise and are a common practice of encryption. Messaging security solutions comprises identity authentication and integrity, security of basic message exchange, and other authorization services, which ensures that messages are accessible by only the intended audience. Market Research Future (MRFR) has added the global Messaging Security Market Size to its report repository, which analyzes the market from various perspectives. MRFR has asserted that the Messaging Security Market Size is eyeing to reach USD 6 Bn at a CAGR of 16% over the forecast period (2017-2023).
Messaging security applications block spam messages, fraud practices, and advanced persistent threats (APTs) due to which they are gradually becoming an essential part of the security infrastructure. Enterprises are increasingly being exposed to malware threats, which is being amplified by the usage of cloud-based and virtual-based solutions. Such threatening landscape has driven the need for messaging security solutions in order to protect confidential information. Additionally, various regulatory norms encourage enterprises of all sizes to deploy messaging security solutions, which too is propelling the growth of the market.
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The healthcare industry is also deploying messaging security solutions extensively. In the present era of digitization, a plethora of critical information is being exchanged between healthcare organizations and patients. Patients view, download, or transmit or access their electronic health information. Safeguarding such patient data is essential to maintain the integrity of the organizations, which has resulted in large-scale deployment of messaging security solutions.
However, growing complexity in the network infrastructure has challenged messaging security solution providers to provide best-in-class solutions, which can be a hindrance to the growth of the market.
The Messaging Security Market Size has been segmented based on component, type, deployment, and vertical.
By component, the Messaging Security Market Size has been segmented into service and solution. The solution segment has been further segmented into content filtering, email encryption, web filtering, data loss prevention, information protection, and control, and anti-spam/anti-malware. The service segment has been further segmented into professional mode of communication and managed mode of communication.
By type, the Messaging Security Market Size has been segmented into message confidentiality, message and system integrity, and message authentication. The message authentication segment has been further segmented into cryptographically signed certificate, e-commerce authentication, and third party authentication.
By mode of communication, the Messaging Security Market Size has been segmented into email and instant messaging.
By deployment, the Messaging Security Market Size has been segmented into on-premise and cloud.
By vertical, the Messaging Security Market Size has been segmented into BFSI, media & entertainment, retail & commerce, automotive & manufacturing, healthcare, and life sciences, and others.
Region-wise, the Messaging Security Market Size has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America region has a considerable presence of market leaders in the US which gives the region technical competence over others. Europe has secured the second spot in the global Messaging Security Market Size. The region is being driven by continued demand from the BFSI sector.
The APAC Messaging Security Market Size is anticipated to capture the highest CAGR over the forecast period. Growing incidence of security breaches and consolidation of the IT sector in the emerging economies of the region such as China, Japan, and India are boosting the growth of the market. Rapid economic progress and expansion of end-use industries are also favoring the growth of the market.
Cisco Systems, Inc. (U.S.), McAfee LLC (U.S.), Barracuda Networks Inc. (U.S.), Microsoft Corporation (U.S.), Trend Micro Incorporated (Japan), Forcepoint (U.S.), Symantec Corporation (U.S.), Sophos Ltd. (U.K.), Proofpoint Inc. (U.S.), and F-Secure Corporation (Finland) are the key players in the Messaging Security Market Size.
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