Social Media Security Market Will Reach $3863.45 Million at a CAGR of 16.40% by 2030 – Report by Market Research Future (MRFR)
NEW YORK, USA, March 7, 2023 (GLOBE NEWSWIRE) — Market Analysis
According to a comprehensive research report by Market Research Future (MRFR), “Social Media Security Market: By Solution, By Vertical, By Security Type, By Deployment, By Organization Size, By Region – Forecast till 2030”, the market is predicted to be during of the 2020-2030 valuation period at a healthy CAGR of approximately 16.40% to reach a valuation of approximately $3863.45 million by the end of 2030.
Competitive landscape of Social Media Security market
Prominent industry players profiled in the global Social Media Security Market report include:
ZeroFOX. (US) RiskIQ (US) Sophos Ltd (UK) Trend Micro Inc. (Japan) Micro Focus (UK) Symantec Corporation (US)
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Scope of Social Media Security Market Report:
Report Metrics Details Social Media Security Market Size to 2030 USD 3863.45 Million (2030) Social Media Security Market CAGR During 2022-2030 16.40% Base Year 2021 Forecast 2022-2030 Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors and Trends Key Market Drivers The increasing usage of Social media by employees of organizations will drive the market.
Social media security is the analysis of dynamic social media data to protect against commercial and security threats. Data, applications and media need to be protected from viruses and hacking threats, and social media security is essential for that. A major factor accelerating the market growth is the increasing use of social media by employees within organisations, both organizational and organizational. Other factors include the need to protect sensitive information about employees and the company, advances in technology and social media platforms, and the increasing proliferation of companies on social media platforms.
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For example, Irdeto announced in September 2019 that its Trace Mark forensic watermarking system now includes client watermarking capabilities, allowing for faster integration and identification of pirate sources. The company claims that content redistribution still poses a serious threat to the media and entertainment industry, with rising spending on original content, broadcasting and over-the-top (OTT) services making it harder for piracy to proliferate.
Social media has been the primary means of communication during this time of fear, confusion and uncertainty. At the beginning of the epidemic and during crucial decisions, there was a significant thirst for knowledge, and social media users appreciated the companies that rose to the challenge by posting frequently and keeping their customers updated.
Even if the content was more reactive than usual, articles that were accurate, up-to-date and responsive to the needs of the target audience received a lot of attention.
The increase in malware attacks and security breach issues on social media platforms, the growing use of social media, and the use of social media for marketing, advertising, and brand endorsement are some of the key drivers behind the evolution of social media security. The growth of the market would be hampered by the increasing demand for media security solutions for issues like phishing emails, impersonation, fraud or piracy, media surveillance, cyber security concerns and others.
Also, the tightening of government regulations or policies aimed at minimizing social media usage, as well as an increasing demand for security in the media and corporate industries are expected to be major drivers fueling the long-term growth of the market.
Employees of organizations will use social media more, which will fuel the market.
The need to protect sensitive information about employees and the organization, developments in technology and on social media platforms, and an increasing penetration of companies on social media platforms are among other factors major drivers of the market. The increasing use of social media by employees in the organization both for the organization and for the organization is a crucial factor in accelerating the market growth.
The lack of international agreements and cross-border transactions can hamper market expansion
One of the main reasons for limiting market growth is the lack of uniform legislation among countries, and cross-border location of servers will continue to be a problem for the industry over the forecast period.
Social media data generation represents a business opportunity for data analytics.
The key factors driving the market include increasing technological and social platform improvements, as well as increasing adoption of social media platforms by businesses. In addition, during the projection period, increased market research and development efforts as well as the amount of data generated by social media platforms will open new perspectives for the market.
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Market segmentation:
Advanced Threat Protection is the social media security market segmentation by solution. During the forecast period, the segment is expected to grow at the fastest rate. the elements that continue to drive the use of social media among businesses and the urgent need for these businesses to protect their social media networks and platforms from unwanted attacks.
Cloud security and data security are the two types of security that make up the segmentation of the social media security market. During the forecast period, the cloud security category is expected to develop the most and hold the largest market share in the social media security market. The need is fueled by factors such as the increasing use of mobile devices, tablets and the cloud, making them vulnerable to network attacks and cybercrime.
The BFSI industry is also being studied in terms of deployment and is forecast to be at a high CAGR. Banks and financial companies have sought to increase customer satisfaction by providing personalized experiences by collecting user input over time, be it personal information, preferences, financial data, and others. This is in response to the growing trends in online shopping and the rise of the COVID-19 pandemic. The need for social media security solutions can be affected by loss of important information due to data theft, data leakage, cyber attack risk and related threats. These incidents can harm a company’s growth and violate consumer confidentiality.
Between 2022 and 2030, the cloud-based sector of the market is expected to expand significantly in terms of implementation.
Due to its low cost and high scalability, many companies have started using the cloud to manage or run social media applications while offering a virtual server environment.
Due to their increasing usage, the large enterprise category, as measured by enterprise size, is expected to develop significantly between 2022 and 2030. As they are the most vulnerable to cyberattacks, they are the most likely to adopt social media security solutions.
The market has been geographically divided into four regions: North America, Asia Pacific, Europe and the rest of the world. The largest market share was in North America. The region with the highest CAGR during the predicted period will be Asia Pacific.
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North America was the market leader in 2021. More virus campaigns on social media, more people using social media applications, stricter government regulations or corporate network security laws have all contributed to the expansion of the market, among others.
The market is expected to grow fastest in Asia-Pacific. Asia Pacific is the predicted area for market growth due to the increasing use of social media in companies for branding and communication purposes in this region. The Asia Pacific region has strict laws protecting social media users.
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