A range of social media platforms like LinkedIn, Facebook, Twitter, Instagram, and YouTube, have found immense fame in recent years. Owing to which events are rapidly using social media platforms as a connection channel. These platforms have an immense client base and a tremendous amount of individual and corporate data ranging from name, address, pictures, date of birth, representatives, clients, and brand value easily accessible on these social media platforms. Due to these, social media platforms have turned into a potential channel for digital assailants to abuse individual consumer data. A segment of the critical dangers that enterprises ought to know about are malware, spams, botnets, and coordinated assaults.
Market Research Future, in its latest study, summed clearly that the global Social media security market 2020 could witness much bigger stability from the years 2017–2023. In these years, the market’s potentiality might rise at a rate of ~ 17%, with a market value of USD 1.9 billion. It could be the great achievement of the market to see the future amidst COVID 19 pandemic across the world.
The expansion in the global social media security market has been on account of the escalating espousal of big business social media and the necessity for entry to anchor their social media platforms and systems against malicious assaults and dangers. The rising trend of e-commerce has also fostered market growth to a great extent. Online retailers leverage e-commerce platforms to connect with their customers and afford an enhanced personalized experience. They make it easier for retailers to boost their businesses by getting leads for products & services. Still, these platforms also expose them to the potential risk of cyber-attacks and data thefts. This gives rise to the requirement of content security solutions to secure the web content and confidential information of the e-commerce organizations. This is how the global Social media security market is gaining valuation and will be in the forecasted period.
Similarly, appeal for the demand of big business social media security systems is anticipated owing to expands digital or wrongdoings or assaults or dangers over the globe. The simplicity of information assaults on SMBs will appeal to big business social media security platforms. Subsequently, this is expected to help the development of the global social media security market in terms of value over the coming years.
Also Read: http://www.marketwatch.com/story/social-media-security-market-gains-high-traction-in-government-agencies-social-media-security-market-size-share-growth-trends-and-industry-analysis-2020-05-05
The global market for social media security is predictable to cultivate in primary regions of Europe, Asia-Pacific, North America, and the rest of the world.
North America is anticipated to lead the market during the forecast period. The crucial factor influencing the escalation of the market in this region is critical players from well-established countries such as the US and Canada. The key players are spending a large share of research and development of security solutions to safeguard enterprise data. Also, escalating the adoption of social media platforms in enterprises to stay connected is yet another factor driving the growth of the social media security market.
Asia-Pacific region is anticipated to escalate at a significant rate due to government initiatives supporting the escalation of SMEs. The SMEs will necessitate social media security solutions as they are progressively adopting social media platforms efficiently for advertising, branding, and increasing their customer base.
The global social media security market size has been studied among various segments such as deployment, organization size, solution, security type, and verticals.
In terms of the organization size segment, the market has included large enterprises and SMEs.
In terms of the deployment segment, the market has included on-cloud and on-premise.
In terms of security type segment, the market has included mobile application security, web-based security, network security, endpoint security, and cloud security.
In terms of the solution segment, the market has included advanced threat protection, risk monitoring, compliance, data security, and others.
In terms of vertical segment, the market has included IT & telecommunication, BFSI, retail & e-commerce, media & entertainment, government, healthcare, education, and others.
Top Industry Players
The well-known players in the market of social media security are listed as RiskIQ (US), ZeroFOX. (US), Trend Micro Inc. (Japan), Sophos Ltd (UK), Symantec Corporation (US), Micro Focus (UK), Centrify Corporation (US), Broadcom (CA Technologies) (US), and SolarWinds Worldwide, LLC (US).