Messaging security solutions protect the messaging infrastructure of an enterprise and are a common practice of encryption.
Messaging security solutions comprises identity authentication and integrity, security of basic message exchange, and other authorization services, which ensures that messages are accessible by only the intended audience. Market Research Future (MRFR) has added the global messaging security market to its report repository, which analyzes the market from various perspectives.
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MRFR has asserted that the messaging security market is eyeing to reach USD 6 Bn at a CAGR of 16% over the forecast period (2017-2023).
Messaging security applications block spam messages, fraud practices, and advanced persistent threats (APTs) due to which they are gradually becoming an essential part of the security infrastructure. Enterprises are increasingly being exposed to malware threats, which is being amplified by the usage of cloud-based and virtual-based solutions. Such threatening landscape has driven the need for messaging security solutions in order to protect confidential information. Additionally, various regulatory norms encourage enterprises of all sizes to deploy messaging security solutions, which too is propelling the growth of the market.
The healthcare industry is also deploying messaging security solutions extensively. In the present era of digitization, a plethora of critical information is being exchanged between healthcare organizations and patients. Patients view, download, or transmit or access their electronic health information. Safeguarding such patient data is essential to maintain the integrity of the organizations, which has resulted in large-scale deployment of messaging security solutions.
However, growing complexity in the network infrastructure has challenged messaging security solution providers to provide best-in-class solutions, which can be a hindrance to the growth of the market.
The messaging security market has been segmented on the basis of components, type, mode of communication, deployment, and vertical. By deployment cloud solution enable enterprise to focus on core business competencies. It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to governance and make enterprise legally prepared.
The messaging security market in North America region is growing due to high adoption of cloud solutions by enterprise and need to improve messaging security in organizations. Changing banking regulation, that requires changes in documents and financial transaction is driving the market in the region. According to the study, the messaging security market will show considerable growth in Europe region. Asia-Pacific market is estimated to be one of the fastest growing market as enterprises are continuously investing into research and development of messaging security market. Increasing IT landscape is boosting the market in the region. The region is witnessing high adoption of internet of things and bring your own device technology by enterprises. Developing countries such as India and China are adopting messaging security software at a large scale owing to increasing IT infrastructure, digitization and robust industrialization that is boosting the market in the region. By vertical segment, BFSI and retail sector is driving the messaging security market. The region is witnessing high growth in messaging security market due to growing technological advancement in cloud, analytics and mobile technologies.
The prominent players in the messaging security market are McAfee LLC (U.S.), Cisco Systems, Inc. (U.S.), Trend Micro Incorporated (Japan), Symantec Corporation (U.S.), Proofpoint Inc. (U.S.), Forcepoint (U.S.), Microsoft Corporation (U.S.), Sophos Ltd. (U.K.), Barracuda Networks Inc. (U.S.), F-Secure Corporation (Finland) and others.
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