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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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