Business Email Compromise Global Market Expected to hit $3.66 Billion at a CAGR of 17.8% By 2028 | Cisco Systems Inc., Broadcom Inc., Fortinet Inc., Cloudflare Inc., Fortra LLC

"The new report published by The Business Research Company, titled ""Business Email Compromise Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the business email compromise market size has grown rapidly in recent years. It will grow from $1.62 billion in 2023 to $1.9 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The business email compromise market size is expected to see rapid growth in the next few years. It will grow to $3.66 billion in 2028 at a compound annual growth rate (CAGR) of 17.8%.

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Rising Adoption Of Cloud-Based Email Services Fueling Growth In The Business Email Compromise Market
The increasing adoption of cloud-based email services is expected to propel the growth of the business email compromise market going forward. Cloud-based email services are internet-hosted platforms that enable users to send, receive, and store emails without needing local servers or infrastructure. Cloud-based email services enhance business email compromise (BEC) protection through integrated advanced security, centralized monitoring, and scalability, creating demand for specialized business email compromise prevention solutions and services. For instance, in December 2021, according to Eurostat, a Luxembourg-based intergovernmental organization, 41% of EU businesses used the cloud in 2021, primarily to host their email servers and store digital copies of their documents, and 79% of the businesses that admitted to utilizing cloud computing used one for their email. Further, in comparison to 2020, there was a moderate increase in the usage of e-mail, office software, accounting applications, and financial applications in the cloud (+3 pp for both e-mail and office software and +2 pp for accounting applications). Therefore, increasing adoption of cloud-based email services is driving the growth of the business email compromise market.

Utilizing Artificial Intelligence In The Business Email Compromise (BEC)
Major companies operating in the business email compromise market are increasing their focus on developing innovative technologies, such as artificial intelligence solutions, to gain a competitive edge in the market. An artificial intelligence (AI) solution is a software application that uses AI techniques to solve a specific problem or task. For instance, in February 2023, SlashNext Inc., a US-based computer and network security company, launched Generative HumanAI, the industry's first artificial intelligence product that employs generative AI to protect against advanced business email compromise (BEC), supply chain assaults, financial fraud, and executive impersonation. The solution automatically uses AI data augmentation and cloning technologies to generate thousands of potential BEC threats. The human AI solution then analyzes these with natural language processing to learn how to detect malicious emails better.

The business email compromise market covered in this report is segmented -
1) By Offering: Solutions, Services
2) By Deployment Mode: Cloud, On-Premise
3) By Organization Size: SMEs (Small And Medium Enterprises), Large Enterprises
4) By Vertical: Banking, Financial Services And Insurance, Government, Information Technology And Information Technology Enabled Services, Energy And Utilities, Manufacturing, Retail And E-Commerce, Healthcare, Other Verticals

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Major companies operating in the business email compromise market report are Microsoft Corporation, Cisco Systems Inc., Broadcom Inc., Fortinet Inc., OpenText Corporation, Check Point Software Technologies Ltd., Trend Micro Inc., Cloudflare Inc., Fortra LLC, Symphony Technology Group, Mimecast Limited, Barracuda Networks Inc., Acronis International GmbH, Egress Software Technologies Ltd., Zix Corp, ZeroFox Holdings Inc., Tessian Limited, SafeGuard Cyber Inc., Heimdal Security A/S, Cofense Bidco Corporation, Agari Data Inc., Virtru Corporation, Ironscales Inc., Valimail Inc., Redscan Cyber Security Ltd., Abnormal Security Corporation, Trustifi LLC, Retruster Ltd., Cellopoint International Corp., GreatHorn Inc.

Contents of the report:
1. Executive Summary
2. Business Email Compromise Market Report Structure
3. Business Email Compromise Market Trends And Strategies
4. Business Email Compromise Market - Macro Economic Scenario
5. Business Email Compromise Market Size And Growth
…..
27. Business Email Compromise Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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