Messaging Security Market

The Global Messaging Security Market is valued at USD 4.75 Billion in 2021 and is expected to reach USD 16.13 Billion by 2028 with a CAGR of 15.51% over the forecast period.

Scope of Global Messaging Security Market

Messaging security is a subgroup of unified threat management (UTM) concentrated on securing and guarding an organization’s communication infrastructure. Communication channels can include email software, messaging apps, and social network IM platforms. This extra layer of security can help secure devices and block a wider range of virus and malware attacks. For instance, end-to-end encryption ensures that no one else can access user’s communication from the time user type it until the recipient sees it. The communication is "scrambled" in order to make it accessible only to the sender and recipient. Not just text messages but also audio files, video messages, and connected files are subject to this "scrambling." Secure internal communication is also essential for protecting the sensitive data utilized by staff. Additionally, it is essential for safeguarding private data, including that related to customers, employees, and financial or medical records. Hence, there is a great need for messaging security.

COVID-19 had a positive impact on the global messaging security market as it revealed the need for responsive and effective communication. Recently, Google systems have detected 18 million malware and phishing Gmail messages per day related to COVID-19, in addition to more than 240 million COVID-related spam messages per day. Google’s machine learning models have evolved to understand and filter these threats, and they continue to block more than 99.9 percent of spam, phishing, and malware from reaching the users. Similarly, in the pandemic, many companies have taken the decision to allow their employees to work from home, and due to this, cybercrime has skyrocketed. And thus, they were seeking IT services to increase their communication security.

Global Messaging Security Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2028: Increased cases of data breaches in recent years and Fines & penalties assessed to the businesses for data breaches upraised the global messaging security market growth.

The global Messaging Security Market is segmented into, product components, product types, end users and by regions. On the basis of components, the market is segmented into, solution, content filtering, web filtering, email encryption, data loss prevention, information protection and control, anti-spam/ anti-malware, service, professional services, managed services. On the basis of product type the market is segmented into End-to-end encryption, Self-destructing messages, User signup without unwanted data collection, Open-source code, Encryption activated by default. On the basis of end users, the market is segmented into Healthcare, Law enforcement, Government, Banking and Finance, Legal, Others.

The regions covered in this global messaging security market report are Asia-Pacific, North America, Europe, and the Rest of the World. Based on a country level, the market of global game-based learning is subdivided into the U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

Key Players of Global Messaging Security Market

Some of the major key players of global messaging security market are

• McAfee LLC
• Cisco Systems, Inc.
• Trend Micro Incorporated
• Symantec Corporation
• Proofpoint Inc.
• Forcepoint,
• Microsoft Corporation
• Sophos Ltd
• Barracuda Networks Inc.
• F-Secure Corporation
• Trustwave Holdings, Inc.
• Mimecast Limited
• Check Point Software Technologies Ltd
• Adaptive Mobile Security Limited
• GWAVA, Inc.
• others.

Key Segmentation

By Components

• Solution
• Content filtering
• Web filtering
• Email encryption
• Data loss prevention
• Information protection and control
• Anti-spam/ anti-malware
• Service
• Professional services
• Managed services

By product type:

• End-to-end encryption
• Self-destructing messages
• User signup without unwanted data collection
• Open-source code
• Encryption activated by default.

By End Users

• Healthcare
• Law enforcement
• Government
• Banking and Finance
• Legal

Recent News

Indian Govt. proposes law to intercept encrypted messages on WhatsApp, Signal

On 22^nd Sept. 2022 - Indian government has proposed a law to bring under a legal framework the interception of over-the-top communication services (OTT), such as WhatsApp and Signal which are encrypted, according to the new draft telecommunications bill uploaded.

Google announces the Meet security feature for Gmail

On 12^th Oct. 2022 – Google has revealed several new features for the tools in its workspace productivity suite during the company’s annual cloud computing showcase -Google Cloud Next. Among them is a new security feature for its email service. This new Gmail security feature will help corporate users to prevent data from being exposed to attackers. The client-side encryption (CSE) support is set to arrive for Gmail by the end of this year and will be added to Google Calendar by the end of 2023, respectively.

Global Messaging Security Dynamics

Increased cases of data breaches in recent years are driving the global messaging security market. Most workforces use chat apps to interconnect. But without secure messaging, they are at risk of data breaches, which are a business’s worst nightmare. According to Messagenius, numerous chat apps, put data at risk, which is where secure messaging solutions can help. For instance, the recent data breaches from chat apps include the Telegram data breach that exposed millions of users, as did Facebook Messenger’s data breach, which hit about 533 million users. Similarly, in the Secret-sharing app and Whisper data breach, the data showed 195,000 accounts were marked as banned for sharing spam or inappropriate content. Furthermore, identity theft cost more than USD 700 billion in 2020 alone. As these factors pose threats to the apps and the public as well, the messaging security market is in demand.

Likewise, fines and penalties assessed to the businesses for data breaches upraised the global messaging security market. Sizable fines assessed for data breaches since 2019 suggest that regulators are getting more serious about organizations that don’t properly protect consumer data. According to Messagenius, if one of employee were to leak secure data through an unsafe chat platform, the company could be penalized. In the EU, GDPR laws could result in a fine of €20 million, or 4% of annual turnover. In the US, breaching CCPA could cost up to $7,500 for each data point and for HIPAA violations, up to $25,000 each. In Saudi Arabia, violating PDPL can mean penalties of up to SAR 1,000,000 (US$ 266,600). To avoid these risks, chat with colleagues using a secure messaging platform with full end-to-end encryption. As a result, the messaging security evolved as solution on this which has bolstered the growth of the market. Furthermore, Cyber-attacks, ransomware, and DDoS attacks are expected to increase further during the upcoming years, targeting large organizations in regions and these can have great opportunities for the messaging security market. Messaging security solutions are quite complicated, as they involve various processes and technicalities that can restrain the messaging security market.

Global Messaging Security Market Regional Analysis

Geographically, North America is dominating the global messaging security market due to rising cost of data breaches in the region. In its 17th year, the 2022 Cost of a Data Breach report by IBM shares the latest understandings into the expanding threat landscape and offers recommendations for how to save time and limit losses. According to IBM, United States holds the title for the highest cost of a data breach, USD 5.09 million more than the global average. Additionally, the cost of a breach in the healthcare industry went up 42% since 2020. For the 12th year in a row, healthcare had the highest average data breach cost of any industry. Similarly, Stolen, or compromised credentials data breach attack vector ended up costing USD 150,000 more than the average cost of a data breach in which Phishing contains 16% (USD4.91) and business email compromise 6% (USD4.89). To avoid such cost various industries in this region are spreading awareness about data breach and as a result, the messaging market is booming.

Furthermore, Europe must have a significant market share in the global messaging security market. Cybercrime in the UK is not going away, and cyber security is top of mind for individuals and businesses. According to Comparitech, more than 80% of UK organizations experienced a successful attack in 2021–2022, and over a 12-month period, ransomware attacks affected 73% of UK organizations. Owing to this, according to the Sophos State of Ransomware Report 2022, organizations managed to block 43 percent of ransomware attacks before data was encrypted. Additionally, in the UK, social media and email hacking emerge as top threats. There were 13,522 such cases in 2021, resulting in £7.8 million in losses, over double that of 2020. To lower such cybercrime and data breaches by businesses and individuals, messaging security may aid, and as a result, the global messaging security market is booming. Messaging security may help to reduce such crimes and data breaches by companies and individuals, and as a result, the global market for messaging security is rising.

By Region and country analysis

North America

• U.S
• Mexico
• Canada

Europe

• UK
• France
• Germany
• Italy

The Asia Pacific

• China
• Japan
• India
• Southeast Asia

South America

• Brazil
• Argentina
• Columbia

The Middle East and Africa

• GCC
• Africa
• Rest of the Middle East and Africa

Report Analysis	Details
Historical data	2015 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 4.75 Billion
Base year considered	2021
Forecast Period CAGR %:	15.51%
Market Size Expected in 2028:	USD 16.13 Billion
Tables, Charts & Figures:	175
Pages	300
Messaging Security Companies	McAfee LLC, Cisco Systems, Inc., Trend Micro Incorporated, Symantec Corporation, Proofpoint Inc., Forcepoint, Microsoft Corporation, Sophos Ltd, Barracuda Networks Inc., F-Secure Corporation, Trustwave Holdings, Inc., Mimecast Limited, Check Point Software Technologies Ltd., Adaptive Mobile Security Limited, GWAVA, Inc., and others.
Segments Covered	By Components, By product type, By End Users
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa