Messaging Security Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 9.10 Billion |
| Market Size (2029) | USD 25.05 Billion |
| CAGR (2024 - 2029) | 22.45 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Messaging Security Market Analysis
The Messaging Security Market size is estimated at USD 9.10 billion in 2024, and is expected to reach USD 25.05 billion by 2029, growing at a CAGR of 22.45% during the forecast period (2024-2029).
With the outbreak of COVID-19, the messaging security market is expected to witness significant growth as security tools, and solutions are increasingly adopted, due to organizations deploying remote work access, amid lockdowns, in various countries. According to data provided by Google, an average of about 18 million COVID-19 spamming emails are blocked by the company every day.
- Encrypting messages on a device in order to safeguard the messaging infrastructure is referred to as messaging security. It creates a secure network, limits unsolicited messages, and safeguards devices from numerous dangers. It includes email antivirus, zero-hour malware detection systems, email intrusion prevention, pattern-based anti-spam, internet protocol (IP) reputation-based anti-spam, and email intrusion prevention. It has significant applications in a variety of industries, including banking, financial services, insurance (BFSI), information technology (IT), real estate, government, and the military. It may also be deployed on-premises or in the cloud.
- Enterprises are facing rising security risks as business communications increasingly shift to consumer messaging applications on mobile devices. The continued increase in BYOD (Bring Your Own Device) and smartphone adoption, coupled with employee use of consumer-grade messaging apps that lack the physical and technical safeguards necessary for enterprise communication, is exposing companies to security risks.
- One of the main factors propelling the market's expansion is the world's rapid urbanization and the rising frequency of cyberattacks. Additionally, the increased use of cloud-based and virtual appliance-based solutions is accelerating market expansion. Further, To manage sensitive user data, organizations are using multi-cloud environments and Software-as-a-Service (SaaS)-based platforms. As a result, email and messaging security services are being used more frequently for internal company communication and collaboration with outside parties.
- The multi-layered protection that ts messaging security provides against email phishing, business email compromise scams, and ransomware attacks is another factor in the market's expansion. The expanding need for security solutions from instant messaging service providers is also creating a good market picture. The market is expected to be further fueled by additional factors, such as the rising use of mobile devices and the creation of cutting-edge technologies for secure messaging solutions.
- The introduction of COVID-19 has had a significant impact on both the global economy and public health. Lockdowns and limitations have also forced numerous industries to halt production and operations, which has disrupted their supply chain. Additionally, a lot of businesses are switching from traditional working arrangements to ones that allow for home-based and remote employment. As a result, emails are used more frequently than ever for internal communications within organizations. Secret corporate information can be exposed, potentially harming the company. As a result, a lot of businesses have begun implementing messaging security, increasing their market demand and fueling the expansion of the messaging security industry throughout the pandemic.
Messaging Security Market Trends
This section covers the major market trends shaping the Messaging Security Market according to our research experts:
Applications in BFSI to Hold a Significant Market Share
- The financial sector gathers a massive volume of data generated by its customers. To use the collected data through various data points and improve customer satisfaction, banks and financial organizations are increasingly employing services to store and analyze complex data. With greater customer expectations, growing technological capabilities, and regulatory requirements, banking institutions are pushed to adopt a proactive approach to security, thereby incorporating cloud-based security platforms.
- Email security solutions help reduce risks, implementation time, and costs for banks that try to keep pace with regulations regarding organizational access control. The data is continuously growing, primarily due to the increase in e-transactions. Email exchanges within this sector amongst employees and customers contain crucial valuable information that is lucrative and can result in a high gain for hackers.
- To secure their IT processes and systems, secure customer critical data, and comply with government regulations, private and public banking institutes are focused on implementing the latest technology to prevent cyber attacks.
- Modern consumers are accustomed to digital interactions in all aspects of their life, and financial services are no exception. The BFSI industry, however, frequently needs to catch up. Numerous Fintech companies are taking advantage of the weaknesses of traditional banks to enter the finance industry with more advanced digital solutions. Consumers can now get credit cards and small business loans from companies like Apple and Amazon. Interestingly, customers want to test them.
North America is Expected to Witness Highest Growth in the Market
- North America is a primary hub for all major organizations globally. The region is among the leading innovators and pioneers in terms of technological adoption. It has a strong foothold over messaging security solution vendors, contributing considerably to the market's growth.
- There has been exponential data growth, with an increase in e-transactions. Email exchanges, especially within end-user industries like the BFSI, government, retail, and e-commerce, among employees and customers, contain crucial information that is rather lucrative and may result in a high gain for hackers. Hence, organizations based out of the region, which use emails as a primary mode of communication, both internally and externally, are taking measures to encrypt and limit eavesdropping and hacking of their email accounts.
- The expansion of the various end-user industries and the growth of IoT are driving the demand for smart devices in the region. The risks of attacks impacting the market may vary from corporates to governments. Thus, securing the data has become a priority in the region. Moreover, cyberattacks in the North American region, especially in the United States, are rising rapidly. They have reached an all-time high, primarily due to the region's rapidly increasing number of connected devices.
- Governments and corporations may both be subject to the risk of malicious assaults impacting the market. Thus, protecting the data has taken on increased importance, driving the development of message security.
- Americans have been alerted by the Federal Communications Commission (FCC) to an upsurge in SMS (Short Message Service) phishing attacks that aim to steal their money and personal information. Scammers behind such attacks, often known as smishing or robotexts (as the FCC does), may employ a variety of enticements to persuade people to provide sensitive information. Instead of call or text traffic, the FCC tracks consumer complaints, and until June last year, complaints about unwanted text messages increased progressively from around 5,700 in 2019 to 14,000 in 2020 to 15,300 in 2021.
Messaging Security Industry Overview
The market is fragmented due to the presence of major companies in the market, like Tata Communications, Macafee, Cisco, Microsoft, and other new players striving to innovate and collaborate to capture the maximum market share. Since hackers continuously try to penetrate messaging software security, companies are spending heavily on updating firmware and firewall software to prevent users from unnecessary attacks and spam.
- In May 2022 - The public release of the Cisco Cloud Controls Framework (CCF) was announced by Cisco. The Cisco CCF is a comprehensive framework that gathers all compliance and certification criteria for both national and international security. A streamlined, rationalized compliance and risk management strategy equips teams to ensure that cloud goods and services comply with security and privacy regulations while saving considerable costs.
Messaging Security Market Leaders
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Microsoft Corporation
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Tata Communications
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Trend Micro
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Cisco Systems
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Mcafee Corporation
*Disclaimer: Major Players sorted in no particular order
Messaging Security Market News
- April 2022 - Trend Micro Incorporated announced the launch of Trend Micro One, a unified cybersecurity platform with a growing list of ecosystem technology partners that enables customers to understand better, communicate, and lower their cyber risk. The unified security platform method provides a continuous lifecycle of risk and threat assessment, including the discovery of attack surfaces, an analysis of cyber risk, and threat mitigation and response.
- April 2022 - Tata Communications International Pte Ltd., a wholly-owned subsidiary of Tata Communications Ltd., a global digital ecosystem enabler, announced strengthened variants of the IZO Internet WAN for global enterprises. IZO Internet WAN provides high-quality Internet services and consistent network experiences through various service options, including broadband Internet, with predictable and dependable network services that provide access to more than 150+ regions. It now allows businesses to transmit data seamlessly between branch offices and data centers, between branch offices and clouds, and across different clouds. Businesses can easily and quickly manage their regional and international networks. New variations have been made available for businesses in the North American, European, United Kingdom & Ireland, and Asia-Pacific markets.
Messaging Security Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Market Drivers
4.3.1 Demand for Protecting the Confidential Information from Malware Threats
4.3.2 Increasing Popularity of Cloud-based and Virtual Appliance-based Solutions
4.4 Market Restraints
4.4.1 Lack of Awareness about Cyberattacks
4.4.2 Increasing Complexity in Implementing Various Messaging Security Solution
4.5 Impact of Covid-19 on the Market
5. MARKET SEGMENTATION
5.1 Deployment Type
5.1.1 Cloud
5.1.2 On-Premise
5.2 Type
5.2.1 Email
5.2.2 SMS
5.3 End User Industry
5.3.1 BFSI
5.3.2 Government
5.3.3 Healthcare
5.3.4 Media and Entertainment
5.3.5 Retail and E-commerce
5.3.6 Manufacturing
5.3.7 Education
5.3.8 Other End User Industries
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Latin America
5.4.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles*
6.1.1 Mcafee, LLC
6.1.2 Cisco Systems, Inc.
6.1.3 Barracuda Networks, Inc.
6.1.4 Microsoft Corporation
6.1.5 Trend Micro Incorporated
6.1.6 TATA Communications
6.1.7 Mimecast Limited
6.1.8 Trustwave Holdings, Inc.
6.1.9 Sophos Ltd.
6.1.10 Proofpoint, Inc.
6.1.11 Forcepoint Software company
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET
Messaging Security Industry Segmentation
Messaging Security protects companies' messaging infrastructure that protects confidential data from malware, saves users from spam, and allows block/allow lists. The studied market is segmented by types of deployment (On-premise, Cloud) of various types of messaging (Email, SMS) across multiple end-user industries such as (BFSI, Retail, E-commerce, Government, and Healthcare, among others ) in varied geographies.
The Messaging Security Market is segmented by Deployment Type (Cloud, On- Premise), Type (Email, SMS), End-user Industries (Government, BFSI, Healthcare, Media & Entertainment, Retail & E-commerce, Manufacturing, Education), and Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).
The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| Deployment Type | |
| Cloud | |
| On-Premise |
| Type | |
| SMS |
| End User Industry | |
| BFSI | |
| Government | |
| Healthcare | |
| Media and Entertainment | |
| Retail and E-commerce | |
| Manufacturing | |
| Education | |
| Other End User Industries |
| Geography | |
| North America | |
| Europe | |
| Asia Pacific | |
| Latin America | |
| Middle East and Africa |
Messaging Security Market Research FAQs
How big is the Messaging Security Market?
The Messaging Security Market size is expected to reach USD 9.10 billion in 2024 and grow at a CAGR of 22.45% to reach USD 25.05 billion by 2029.
What is the current Messaging Security Market size?
In 2024, the Messaging Security Market size is expected to reach USD 9.10 billion.
Who are the key players in Messaging Security Market?
Microsoft Corporation, Tata Communications, Trend Micro, Cisco Systems and Mcafee Corporation are the major companies operating in the Messaging Security Market.
Which is the fastest growing region in Messaging Security Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Messaging Security Market?
In 2024, the North America accounts for the largest market share in Messaging Security Market.
What years does this Messaging Security Market cover, and what was the market size in 2023?
In 2023, the Messaging Security Market size was estimated at USD 7.43 billion. The report covers the Messaging Security Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Messaging Security Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Messenger Security Industry Report
Statistics for the 2024 Messenger Security market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Messenger Security analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
