The social media security market size is poised to grow at a CAGR of close to 18% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global social media security market 2019-2023. (Graphic: Business Wire)
There has been an alarming increase in attacks by hackers and cybercriminals to the extent of over 80% during the period between 2015 to 2016. Identity theft accounted for around 55% of all the data breaches in 2016. Therefore, the increase in the number of data thefts is encouraging vendors to opt for social media security solutions as they help them in protecting corporate accounts from getting compromised. Such solutions also analyze the dynamic data on social media channels to protect enterprises against business and security threats.
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As per Technavio, the emergence of BYOD will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Social Media Security Market: Emergence of BYOD
The growing popularity of BYOD policies among organizations has increased the use of personal devices such as laptops, smartphones, and tablets in workplaces. However, employees using their own devices in an organization can lead to a security breach. Employees may open questionable attachments by clicking on unfamiliar links. To avoid such instances, enterprises need to adopt social media security solutions. This will lead to the growth of the social media security market during the forecast period.
“Other factors such as the increasing use of analytics in social media security, and growing need for MFA in social media security will have a significant impact on the growth of the social media security market value during the forecast period,” says a senior analyst at Technavio.
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Social Media Security Market: Segmentation Analysis
This market research report segments the social media security market by security type (endpoint security, web security, network security, cloud security, and application security) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2018, followed by EMEA and APAC respectively. The growth of the social media security market share in the Americas can be attributed to several factors such as the availability of adequate IT and business infrastructure, the existence of strict IT security compliance and governance regulations, and the high adoption of cloud-based IT security solutions and services.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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