Messaging Security Global Market 2024 - Growth Opportunities, Top Countries, Future Trends, Revenue And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Messaging Security Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The messaging security market size has grown rapidly in recent years. It will grow from $7.20 billion in 2023 to $8.56 billion in 2024 at a compound annual growth rate (CAGR) of 18.9%. The growth in the historic period can be attributed to an increase in cyber threats, regulatory compliance requirements, growth of digital communication, expansion of remote and hybrid work models, and advances in encryption technology.

The messaging security market size is expected to see rapid growth in the next few years. It will grow to $17.18 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to rising adoption of cloud-based solutions, growth of artificial intelligence and machine learning, proliferation of mobile devices, expansion of digital transformation initiatives, and increased investment in zero trust security models. Major trends in the forecast period include the growth of unified threat management solutions, increasing demand for end-to-end encryption, expansion of secure mobile messaging solutions, the rise of secure collaboration tools, and increased adoption of multi-factor authentication.

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Market Drivers and Trends:

The rising prevalence of cyberattacks is expected to propel the growth of the messaging security market going forward. Cyberattacks are malicious attempts by individuals or groups to disrupt, damage, or gain unauthorized access to computer systems, networks, or data, often to steal information, cause harm, or demand ransom. The rising prevalence of cyberattacks is driven by increased digitalization, the expansion of remote work, and the growing sophistication of attackers using advanced technologies to exploit vulnerabilities in systems and networks. Messaging security is used to protect against cyberattacks by securing email and messaging platforms from threats such as phishing, malware, and unauthorized access, ensuring the confidentiality, integrity, and availability of communications, and preventing data breaches and information leaks. For instance, in November 2023, according to the Australian Signals Directorate, an Australia-based federal agency, in the 2022-23 financial year, approximately 94,000 cybercrime reports were submitted to ReportCyber, marking a 23% increase compared to the 2021-22 financial year. Therefore, the rising prevalence of cyberattacks is driving the growth of the messaging security market.

Major companies operating in the messaging security market are focused on developing innovative solutions such as secure messaging to protect sensitive data and record all communications. Secure messaging is the encrypted transmission of sensitive information between parties to ensure privacy and compliance, commonly used in sectors such as healthcare to protect patient data. For instance, in November 2023, SSH Communications Security, a Finland-based cybersecurity company, introduced Secure Messaging 2024, a secure messaging solution. This platform provides features like end-to-end encryption, secure file transfers, and compliance with stringent data privacy regulations. It also incorporates advanced identity management and access controls to ensure secure communication within organizations, improving data protection and minimizing the risk of unauthorized access.

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Major Key Players of the Market:

Microsoft Corporation, Cisco Systems Inc., Broadcom Inc., Open Text Corporation, McAfee Corp., Trellix, Kaspersky Lab, Proofpoint Inc., Trustwave Holdings Inc., Secureworks, Barracuda Networks Inc., Trend Micro Inc., Mimecast Limited, WithSecure, Francisco Partners, Egress Software Technologies Ltd., Sophos Ltd., Agari Data Inc., Valimail, Hornetsecurity GmbH, GreatHorn Inc., MailChannels, MailGuard Pty Ltd., Trustifi

Messaging Security Market 2024 Key Insights:

• The messaging security market size is expected to see rapid growth in the next few years. It will grow to $17.18 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%.
• Rising Cyberattacks Propel Growth Of The Messaging Security Market
• Innovative Secure Messaging Solutions Enhancing Data Protection And Compliance
• North America was the largest region in the messaging security market in 2023

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