The global social media security market is predicted to increase at a Compound Annual Growth Rate (CAGR) of 17.1 percent from USD 746.4 million in 2017 to USD 1970.6 million by 2023. The study’s base year is 2017, with a projection span of 2018–2023.
Hootsuite Company, Sophos Group plc, Trend Micro Inc., SolarWinds Inc., Proofpoint, Inc., Digital Shadows Ltd., CA Technologies, KnowBe4, Inc., LookingGlass Cyber Solutions, maloon GmbH (Social Hub), Bowline Security Inc., and SecureMySocial are among the companies profiled in the market.
The study’s goal is to define, describe, and forecast the market for social media security by solution, service, security type, organisation size, vertical, and region. It also examines current events in the worldwide market, such as partnerships, strategic alliances, mergers and acquisitions, business expansions, new product developments, and R&D.
The research methodology used to estimate and forecast the market began with secondary sources such as company websites, press releases, annual reports, TechTarget reports, Cloud Security Alliance reports, SC magazine, and SANS Institute studies collecting and analysing data on key vendors’ revenues. When determining market segmentation, vendors’ offerings are taken into account. From the revenues of the top players, the total market size of the worldwide social media security market was calculated using the bottom-up technique. Following the determination of the overall market size, the complete market was divided into many segments and sub segments, which were then confirmed by primary research by conducting comprehensive interviews with important people such as CEOs, Vice Presidents (VPs), directors, and executives. To complete the total market engineering process and arrive at exact figures for all segments and sub segments, data triangulation and market breakdown techniques were used. The breakdown of the primar’s profiles.
Overview of the Global Social Media Security Market
In recent years, social media sites such as Twitter, Facebook, LinkedIn, Instagram, and YouTube have gained enormous popularity. As a result, businesses are increasingly using social media platforms as a communication medium. These social media platforms have a large customer base and access to a large number of personal and corporate data, such as name, date of birth, photographs, address, clients, representatives, and brand value. As a result, social media sites have become a possible avenue for digital criminals to exploit individual customer data. Spam, malware, botnets, and coordinated attacks are some of the major threats that businesses should be aware of.
The study includes several causes driving the market sector, an in-depth investigation, the market’s driving segments, and the global social media security market’s constraints. The study displays the particular steps of growth seen by the company, taking into account current models that will impact the industry between 2018 and 2026.
Trends and Opportunities in the Global Social Media Security Market
The global social media security market is expected to increase due to the growing use of big business social media and the need for companies to secure their social media platforms and systems against malicious attacks and threats. The growing sophistication of social media attack strategies, the growing need to oversee stringent controls and compliances, and the growing use of social media by employees in the workplace, both for and against the company, are pressuring businesses to deploy social media security systems and administrations.
Similarly, because of the growing number of digital wrongdoings/assaults/dangers around the world, an increase in demand for major corporate social media security systems is projected. The ease with which information attacks on small businesses can be launched will make big business social media security solutions appealing. As a result, the value growth of the global venture social media security market is predicted to accelerate in the approaching years.
