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The global messaging security market exhibited strong growth during 2015-2020. Messaging security refers to the practice of encrypting messages on a device to protect the messaging infrastructure. It is used for developing a secure network, restricting unwanted messages and protecting the devices against various threats. It involves email antivirus, internet protocol (IP) reputation-based anti-spam, email intrusion prevention, pattern-based anti-spam, administrator-defined allow/block lists and zero-hour malware detection systems. It can be deployed on cloud and on-premises, owing to which it finds extensive applications across various sectors, including banking, financial services and insurance (BFSI), information technology (IT), real estate, government, defense and healthcare.
Rapid urbanization, along with the increasing instances of cyberattacks across the globe, is one of the key factors driving the growth of the market. Furthermore, the widespread adoption of cloud-based and virtual appliance-based solutions is also providing a boost to the market growth. Organizations are operating through multi-cloud environments and Software-as-a-Service (SaaS)-based platforms to manage sensitive data of users. This has resulted in the increasing utilization of email and messaging security services for intra-company communication and coordinating with other parties. Messaging security also offers multi-layered protection from email phishing, business email compromise scams and ransomware attacks, which is also contributing to the market growth. Additionally, the growing demand for security solutions from instant messaging service providers is creating a positive outlook for the market. Other factors, including the increasing adoption of mobile devices, along with the development of innovative technologies for secure messaging solutions, are projected to drive the market further. Looking forward, IMARC Group expects the global messaging security market to grow at a CAGR of around 14% during 2021-2026.
Breakup by Component:
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The report has also analysed the competitive landscape of the market with some of the key players being Barracuda Networks Inc. (Thoma Bravo LLC), Cisco Systems Inc., F-Secure Oyj, McAfee LLC (TPG Capital and Intel Corporation), Microsoft Corporation, Mimecast Services Limited, Proofpoint Inc., Quick Heal Technologies Ltd, Trend Micro Incorporated, Trustwave Holdings Inc. (Singapore Telecommunications Ltd.), etc.
According to the estimates by IMARC Group, the global messaging security market is expected to witness a CAGR of 14% during 2021-2026.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the increasing adoption of work-from-home (WFH) trends. This is further catalyzing the demand for message security solutions to secure confidential data from cyber threats.
The rising incidences of cyberattacks, coupled with the growing need to protect confidential and sensitive information from messaging malware threats, represent some of the key drivers for the global messaging security market.
The increasing penetration of remote working modules and bring your own device (BYOD) in workplaces represents one of the key trends in the global messaging security market.
On the basis of the component, the market has been divided into solution and services. Among these, solution represents the largest segment.
On the basis of the communication type, the market has been segregated into instant messaging and e-mail messaging. Currently, e-mail messaging exhibits a clear dominance in the market.
On the basis of the deployment type, the market has been bifurcated into on-premises and cloud-based. Currently, cloud-based holds the majority of the total market share.
On the basis of the vertical, the market has been segmented into BFSI, government and defense, IT and telecommunication, real estate, healthcare, and others. At present, BFSI exhibits a clear dominance in the market.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
The key companies in the global messaging security market are Barracuda Networks Inc. (Thoma Bravo LLC), Cisco Systems Inc., F-Secure Oyj, McAfee LLC (TPG Capital and Intel Corporation), Microsoft Corporation, Mimecast Services Limited, Proofpoint Inc., Quick Heal Technologies Ltd, Trend Micro Incorporated, Trustwave Holdings Inc. (Singapore Telecommunications Ltd.), etc.
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