Social Media Security Market Size Projected to Reach USD 2,3…

Social Media Security Market Size – USD 946.4 Million in 2020, Market Growth – CAGR of 12.03%, Market Trends –Increasing growth of e-commerce.

NEW YORK, NY, UNITED STATES, December 8, 2021 /EINPresswire.com/ — The major contributing factor for the growth of the market for Social Media Security can be increasing security breaches, such as cyber terrorism, fraud.

The Social Media Security market is expected to grow from USD 946.4 Million in 2020 to USD 946.4 Million by 2028, at a CAGR of 12.03% during the forecast period. Increasing need for secured social media surfing, increasing digitalization, internet and mobile usage, increase in use of social media platforms, strict government norms regarding security of data, high usage of social media resulting in large volume of data generation, increasing security breaches, such as cyber terrorism, fraud, money laundering, identity theft, hacking, adoption of BYOD services and growth of e-commerce, which the industries use to connect with their customers, leaving these customers into risks of data theft are some of the driving factors of the market.

Lack of social media security norms across countries and difficulty in selecting the right social media security vendor for particular requirements may be some major restraining factors for the social media security market.

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Further key findings from the report suggest

• The Social Media Security market is segmented by security types into web security, application security, endpoint security, network security, and cloud security. The network and cloud security types are expected to witness the highest growth of a CAGR of 12.4% during the forecast period, due to excessive use of cloud, mobiles, tablets globally, which makes these segments more prone to cyber-attacks and network hacking.
• The Social Media Security Market is segmented by component into solutions and services. The solutions segment is expected to grow with the highest CAGR of 12.7% during the forecast period, due to the growth of threat intelligence simulation needed for industries to secure the social media data and networks against security breaches.
• The Social Media Security market is segmented by organization size into large and small & medium-sized enterprises. Small and medium-sized mostly adopt social media security solutions, since SMEs are more prone to cyber-attacks.
• The Social Media Security Market is segmented by industry vertical into banking, financial services & insurance, healthcare, legal education, retail, media & entertainment, and others, government and defense, travel and hospitality, manufacturing, telecom and IT, education and others (automotive, and energy and utilities). Manufacturing segment is speculated to witness the highest growth of a CAGR of 13.1% during the forecast period since they use social media as a marketing and promotion platform.
• The Social Media Security Market is segmented geographically into North, America, Europe, Asia Pacific and Rest of the World. North America, being a developed and economically strong region, dominates the market with a market share of approx. USD 284.5 million in the base year, for securing their confidential data on social media platforms.
• Key players within Social Media Security market are Sophos (UK), Trend Micro (Japan), Symantec (US), Micro Focus (UK), CA Technologies (US), ZeroFOX (US), RiskIQ (US), SolarWinds (US), Digital Shadows (US), Proofpoint (US), LookingGlass Cyber Solutions (US), KnowBe4 (US), Hootsuite (Canada), Centrify (US), Social Hub (Europe), Brandle (US), DigitalStakeout (US), Bowline Security (US), Social Sentinel (US), SecureMySocial (US), Hueya (US), CSC (US), CoNetrix (US), Crisp Thinking (UK), and CrowdControlHQ (UK).

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The Global Social Media Security Market is segmented as follows:

Security types type Outlook (Revenue, USD Million; 2018–2028)

• Web security
• Application security
• Endpoint security
• Network security
• Cloud security

Component Outlook (Revenue, USD Million; 2018–2028)

• Solution
• Monitoring
• Threat intelligence simulation
• Risk management
• Services
• Professional Services
• Managed Services

Organization size (Revenue, USD Million; 2018–2028)

• Large Enterprises
• Small and Medium-Sized Enterprises

Industry vertical Outlook (Revenue, USD; 2019-2028)

• Banking, Financial Services, and Insurance (BFSI)
• Government and defense
• Healthcare and life sciences
• Retail
• Travel and hospitality
• Manufacturing
• Telecom and IT
• Media and entertainment
• Education
• Others (automotive, and energy and utilities)

The report provides an explicit analysis of the market with regards to growth driving factors, restraining factors, regulatory framework, threats and opportunities, financial hurdles to offer a thorough outlook of the market. The report also covers value chain analysis, market share, market size, CAGR, sales and revenue, import/export, the scope of the market, growth prospects,and other key factors.The report offers a regional analysis that covers key geographies such as North America, Europe, AsiaPacific, Latin America, and Middle East & Africa.

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Tushar Rajput
Reports and Data
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