Social Media Security Market Research Report - Global Forecast to 2027

Social Media Security Market Research Report, By Solution (Advance Threat Protection), By Vertical (BFSI), by Security Type (Cloud Security, Data Security), By Deployment (On-Cloud), By Organization Size (Large Enterprise) - Global Forecast till 2027

ID: MRFR/ICT/5377-HCR | February 2021 | Region: Global | 100 pages

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Social Media Security Market Overview:

The Social Media Security Market is expected to generate a market value of USD 1.9 billion by 2023 growing at a CAGR of  17%. 


Social Media Security is vital to safeguard people’s data on platforms such as YouTube, Facebook, Whatsapp, Instagram, and LinkedIn. These applications are an integral portion of the communication channel. They store sensitive data such as name, address, contact details, pictures, and clients’ information. Cyber-attackers tend to exploit people’s personal information by breaking into these platforms. 


Hence, there is a need for security from such attacks and data leaks. Social Media Security solutions protect you from harmful software attacks such as Trojan, phishing, and viruses. Moreover, they safeguard personal data such as passwords, backup details, encryption data, and user IDs. With the rise in active internet device users, the need for Social Media Security is also expected to increase more in the coming years.


Covid-19 Analysis:


With the rise of the Covid-19 impact, many large-scale businesses and industries suffered, except healthcare and life support products. The lockdown and physical distancing protocol affected millions of small and big business institutions alike. Among them is the Social Media Security industry which has been facing a downfall post-Covid-19.


However, a lot of people started switching to online transactions, e-commerce websites, and entertainment platforms, which increased the number of functional internet users. This also meant more cyber threats and virus attacks. Hence, Social Media Security market analysis has shown a slight uproar in its growth.


Market Dynamics:
Drivers:


Advertising content, entertainment bodies, and online communities have resorted to social media platforms for their promotion. This leads to the increased risk of digital scams, piracy, and viruses. Hence, they need Social Media Security solutions to safeguard their data.


Moreover, many companies are looking to protect their confidential information and monitor employee conduct on social media platforms. Social Media Security is being widely adopted by business institutions to protect cloud services. These factors seem to accelerate the growth of the SMS industry.


Opportunities:

The Media & Entertainment sector faces a lot of piracy issues on social media platforms. Security solutions such as the Watermarking system can help identify and report pirated or redistributed content on social media. The need to protect sensitive and confidential information in government and private institutions has driven the SMS market growth. The security systems permit companies to track employee behavior on social media platforms. 


Restraints:
Many restraints may slow down the growth of the Social Media Security market. Some of them include cyber threats, data exposure, spam, piracy, botnets, malware, etc. Security systems cannot fully exempt these threats from reaching your data. Poorly protected information may leak or get attacked despite the Social Media Security system.

Challenges:
One of the most important challenges faced by the Social Media Security business is the struggle to meet varying client expectations. With every passing day, cyber-attackers discover new and advanced threats towards social media information. This becomes an issue for both consumers and providers. 

Moreover, most of the information stored in social media is sensitive. Hence, the security systems need to avoid the potential negative outcomes. Also, fulfilling the exact expectations of customers becomes a nightmare for the security providers. 


Cumulative Growth Analysis:
The SMS market value is anticipated to reach nearly USD 1.9 billion over the forecast period with a CAGR of around 17%. The recorded market value of the SMS market was around USD 940 million in 2017. Over the few years, the market value has increased commendably due to the high demand. Post-Covid-19, the market growth is expected to propel more with forward-lying opportunities. 

Technological Analysis:


Almost all business institutions or organizations deploy social media platforms for marketing, advertising, and promotional purposes. Most importantly, these platforms help monitor employee conduct and cooperation. However, the platforms are not entirely secure and may be subjected to cyber-attacks and threats. 


Social Media Security solutions help assess your data and protect your social media platforms from the threat of viruses and other malware. There have been several advancements in technology such as Two-factor authentication, login activity monitoring, OTP login, random password generators, signature authorization systems, etc. 


Social Media Security Market Segment Overview:


Given below are the important Social Media Security market segments:


By Deployment:

  • On-cloud

  • On-premise


By Organization Site:

  • Large enterprise

  • Small and Medium-sized Enterprises (SMEs)


By Security Type:

  • End-point security

  • Network security 

  • Web-based security

  • Mobile application security

  • Cloud security


By Solution:

  • Advanced threat protection

  • Compliance

  • Data security

  • Risk monitoring

  • Others 


By Vertical:

  • Government

  • IT & Telecommunication

  • Healthcare

  • Retail & E-commerce

  • BFSI

  • Education

  • Media & Entertainment

  • Others


Social Media Security Market Regional Analysis:


Based on region, the Social Media Security market is divided into North America, Europe, Asia Pacific, and Middle East & Africa. Out of them, North America is anticipated to have the biggest market share. Similarly, the Asia Pacific region is expected to show significant growth by the end of the Social Media Security market forecast.


Security providers from North America, especially the US and Canada, are investing a lot in offering top-class security systems to protect confidential data on social media. In the Asia Pacific region, governments are taking initiatives to favor SMEs. These enterprises need Social Media Security systems to safeguard their data since most of them deploy social media for marketing and promotion. All these factors contribute to the growth of the Social Media Security market.


Competitive Landscape:


The key Social Media Security providers are performing researches to improve the strength of the security they offer. This will help protect the confidential data of the people on social media platforms. Moreover, the increasing number of social media account-holders calls for higher levels of security.


Social Media Security Market Key Players:
Mentioned below are the competitive companies of the Social Media Security industry:

  • Sophos Ltd (UK)

  • Trend Micro Inc. (Japan)

  • RiskIQ (US)

  • ZeroFOX (US)

  • Broadcom CA Technologies (US)

  • SolarWinds Worldwide LLC (US)

  • Micro Focus (UK)

  • Centrify Corporation (US)

  • Symantec Corporation (US)

  • Proofpoint (US)

  • Hootsuite Inc. (Canada)

  • Social Sentinel Inc. (US)

  • LookingGlass Cyber Solutions Inc. (US)

  • Digital Shadows Ltd (US)


Recent Developments:



  • Irdeto launched its client watermarking solution in September 2019 to prevent piracy and redistribution in the Media & Entertainment sector. The watermark will help identify pirated files and track their sources. 

  • The government of India asked social media platforms such as YouTube, Facebook, etc. to aid them in tracking down people who transfer unlawful information to lawful institutions within 72 hours. This initiative was taken to prevent the spread of fake news and morphed pictures, etc. in February 2021.

  • In 2018, LookingGlass Cyber Solutions collaborated with Tech Mahindra to offer the ‘Threat Intelligence’ service. This solution employed the use of AI to detect threats in social platforms and instinctively warn the user. It also came with password encryption, backup, and internet access provisions. 

  • In 2018, Sophos Inc. launched an advanced email security solution with blockchain technology. It offers Active Threat Protection (ATP), anti-phishing email verification, outbound scanning, and more.

  • RiskIQ collaborated with Precise Technologies to offer a high-precision social media security solution. This system provides accurate detection of threats, quick responsive actions, blocking and excluding cyber fraudulency.


Report Overview:


This report caters all information about the growth of the global Social Media Security market over the forecast period. There are different sections presented that help to get full-fledged information such as opportunities, challenges, drivers, COVID 19 analysis, regional analysis, competitive landscape, and others. All the information is collected from reliable primary and secondary sources to provide the expected market growth of the Social Media Security industry by 2027. 


Report Detail:



  • Historic Period: 2015-2020

  • Base Year: 2021

  • Forecast Period: 2022-2027


Geographically:



  • North America

  • Europe 

  • Asia-Pacific

  • Middle East & Africa



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 1.9 Billion
  CAGR   17%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Solution, By Vertical, by Security Type
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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).
  Key Market Opportunities   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.
  Key Market Drivers   Increasing adoption of social media platforms in enterprises to stay connected is another reason driving the growth of Social media security market.


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Frequently Asked Questions (FAQ) :

The market is expected to record a growth rate of 17% during the review timeline.

The kind of social media threats are the organizations around the world currently facing are malware, spams, direct attacks and botnets.

By the end of the conjectured period, the market value is estimated to be USD 1.9 billion.

SolarWinds Worldwide, LLC (US), Centrify Corporation (US), Trend Micro Inc. (Japan), Micro Focus (UK), Symantec Corporation (US), Sophos Ltd (UK), LookingGlass Cyber Solutions, Inc. (US), Broadcom (CA Technologies) (US), RiskIQ (US), Social Sentinel, Inc. (US), Hootsuite Inc. (Canada), Centrify Corporation (US), ZeroFOX. (US), Proofpoint (US), Digital Shadows Ltd (US), are the top players in the social media security market.

The vertical-wise market segments identified in the report are education, IT & telecommunication, BFSI, retail & ecommerce, media & entertainment, government, healthcare, and others.