Phishing Emails and Malicious Files Give Rise to Infodemic amidst COVID-19 Pandemic
As the world is drowning in the misery of the COVID-19 (coronavirus) pandemic, hackers and cyber scammers in the messaging security market are certainly not on a lockdown. In a newsletter, the WHO (World Health Organization) has warned individuals to stay alert from the cyber criminals pretending to be from the WHO. During the past few weeks, it has been reported that cyber criminals are taking undue advantage of lockdown period by circulating ‘phishing’ attacks through malicious links and files.
Heinous cybercrimes are hampering the credibility of companies in the messaging security market. In order to protect fixed and mobile devices from what the WHO calls an ‘infodemic’ of accurate and inaccurate information, companies in the market for messaging security are increasing awareness about obvious phishing signs such as poor spelling and grammar. Companies in the messaging security market are highlighting key signs of unofficial emails that create unnecessary urgency or too-good-to-be-true content to help individuals stave off from cyber-attacks.
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Messaging Security Vendors Focus on Cloud Security Solutions to Weaponize Against Attackers
Increasing number of corporates and enterprises are operating through multi-cloud environments. Hence, it is inevitable for companies in the messaging security market to innovate in cloud security services. As such, the revenue if SaaS/cloud system deployment is projected for exponential growth in the messaging security market, where the market is predicted to advance at a lightning CAGR of ~13% during the forecast period. Hence, companies such as FireEye Inc.— an intelligence-led security company, announce the launch of their new cloud security innovations with expanded capabilities in their existing FireEye Messaging Security platform to protect collaboration tools from malicious attacks.
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There is a growing need for flexibility in cloud security solutions to provide heightened visibility across multiple messaging platforms. This trend is fueled with pervasive adoption of multi-channel collaboration tools to enhance productivity of employees. Popular collaboration tools such as Microsoft Team and Slack are gaining widespread adoption in organizations to help increase productivity levels of teams. Hence, vendors are increasing focus in cloud security solutions, since attackers are looking to weaponize against popular cloud-based tools.
Training Programs Help Clear Confusion of Policy Execution in Practical Applications
Instant messaging through mobile devices is gaining prominence as dislike for email increases in the messaging security market. Hence, users should be aware about how to protect their data in the messaging era, which is not an option for IT security departments in enterprises. However, there is a need to update policies that encompass new messaging and collaborative technologies, involving exclusive examples of acceptable and prohibited uses in the messaging security market. A clarity on these explicit examples will help to clear the confusion associated with the deployment of policies in practical use cases.
Analysts of Transparency Market Research (TMR) opine that training programs will help to keep professionals and employees in the market for messaging security to be abreast with updated policies associated with the management of high-value organizational data. Vendors in the messaging security market should encourage enterprises to conduct training programs delivering knowledge about social engineering attacks.
Security Standard Forums Create Flexible Operations for Protection of 5G Network Architectures
Leading market players are conducting webcasts to highlight the importance of messaging security throughout the telecom industry. For instance, Nokia conducted their Security & E2E Product Security Analyst Webcast to shed some light on emerging complexities of the 5G network architecture in the telecom industry. As such, there is a need for dynamic and flexible security operations to protect diverse end users in the telecom sector.
Companies in the messaging security market are unlocking opportunities in fixed, mobile, and 5G-IoT security solutions. This is being achieved by increasing focus in software security solutions and Security as a Service (SaaS) models. Companies in the messaging security market are leveraging their work in security standards forums to innovate in solutions that address security requirements of complex 5G network architectures.
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Messaging Security Market: Overview
- The global messaging security market was valued at ~US$ 3 Bn in 2019 and is expected to reach ~US$ 8 Bn by 2027, expanding at a CAGR of ~13% from 2019 to 2027
- Messaging security is a solution that provides protection against malware, viruses, phishing, and advanced spam. Messaging security helps to secure the authenticity and confidentiality of an organization’s or individual’s communication methods. Furthermore, messaging security is implemented to develop a safe and secure network for email, MMS, SMS, and IP messaging.
- The messaging security market report provides analysis of the global messaging security market for the period 2017 – 2027, wherein 2018 is the base year and 2019 to 2027 is the forecast period. Data for 2017 has been included as historical information.
- The study on the messaging security market would help clients understand the analysis of messaging security based on different industry verticals
- The messaging security market is driven by various factors such as increasing adoption of messaging applications as a cost-effective communication platform, increasing number of corporate spam emails and malicious cyber-attacks, and growing adoption of cloud-based services
Messaging Security: Market Segmentation
- The messaging security market is segmented on the basis of message system type, system deployment, security type, application, and region
- Based on message system type, the market has been classified into email, SMS (short message service), IRC (internet relay chat), and UseNet. SMS type segment is estimated to dominate during the forecast period at a CAGR of 13.6%. IRC and UseNet are expanding at prominent CAGRs. Companies are adopting e-mail security solutions to prevent malicious viruses and spam e-mail to avoid data breach issues.
- Based on system deployment, the market has been divided into on-premises, SaaS/cloud, and hybrid
- In terms of security type, the messaging security market has been segmented into personal message security, and enterprise message security. In enterprise message security, large enterprises hold maximum share and are set to expand at a CAGR of 11.9% during the forecast period. Small & medium enterprises held 36.3% market share in 2019 and are expected to expand at a CAGR of 13.1% during the forecast period.
- Based on application, the messaging security market is segmented into data loss prevention, spam protection, message filter, and malware protection
- In terms of region, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to hold a prominent share of the global messaging security market during the forecast period due to the presence of several global players in the region, especially in the U.S. and Canada. In North America, enterprises are focusing on end-to-end encryption messaging applications and services to provide the most secure collaboration platforms, which help to secure enterprise data.
Messaging Security Market: Major Companies
- Some of the key players of the global messaging security market are
- AO Kaspersky Lab
- Barracuda Networks, Inc.
- Broadcom
- Cisco Systems, Inc.
- Clearswift, Forcepoint
- McAfee, LLC
- Microsoft Corporation
- Mimecast Services limited.
- Proofpoint, Inc.
- Quick Heal Technologies Limited
- Retarus System
- Sophos Ltd.,
- Trend Micro Incorporated
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