The global messaging security market is expected to reach USD 11.10 billion by 2025, according to a new study by Grand View Research, Inc. The market is expected to witness a CAGR of 13.7% over the forecast period, owing to increasing demand for cloud-based secure messaging products and solutions is driving the growth of the market. This can be attributed to the increasing popularity of Software-as-a-Service (SaaS) and virtual appliance based solutions
Organizations are increasingly utilizing instant messaging applications for external and internal communication, as they are a faster and cheaper mode of communication. However, with the accelerating adoption of this mode of communication, it becomes increasingly important to secure the messaging infrastructure as the communication environment is no longer secure. Hence, it is highly vulnerable to external threats.
Moreover, the increasing adoption of mobile devices is acting as another key driving factor contributing to the market growth. The accelerating demand for mobile devices for smoother communication amongst enterprises and its employees, through a network protected against threats, is paving the way for the adoption of secure messaging solutions and thus, facilitating secure access to critical enterprise information.
Further Key findings from the study suggest:
- The email protection segment dominated the product segment in 2016. Emails act as an important source of storing critical information. However, their high vulnerability to virus and spam attacks necessitates the application of security solutions to safeguard emails against threats
- Cloud deployment is anticipated to become the preferred option of deployment for messaging security products and solutions, as it offers greater flexibility, convenience, accessibility, and easy maintenance
- The corporate segment is expected to find the highest application in the next eight years. Corporates possess large amounts of critical data that is required to be safeguarded against external and internal threats
- North America accounted for the largest share in 2016 owing to presence of prominent market players in this region, who are continuously working on developing new innovative technologies
- The Asia Pacific regional market is expected to experience the highest growth over the next eight years. This can be attributed to the presence of emerging economies such as India, China, and Australia that are expected to augment their expenditure on security infrastructure
- The list of key industry participants includes Cisco Systems, Inc., Symantec Corp., Trend Micro Inc., McAfee LLC, Barracuda Networks, Inc., Proofpoint, Inc., Panda Security, Clearswift, Forcepoint LLC, and Sophos Ltd.