Global Messaging Security Market Size, Share & Industry Trends Analysis Report By Component (Solution and Services), By Communication Mode, By Deployment Type (On-premises, and Cloud), By Vertical, By Regional Outlook and Forecast, 2023 - 2030

Analysis of Market Size & Trends

The Global Messaging Security Market size is expected to reach $15.0 billion by 2030, rising at a market growth of 12.8% CAGR during the forecast period.

The growth of retail and e-commerce has significant implications for messaging security. Retailers and e-commerce businesses rely heavily on digital communication channels, including email and messaging platforms, to engage with customers, process orders, and manage operations. Consequently, the retail and e-commerce segment would generate approximately 16% share of the market by 2030. Expanding retail and e-commerce sectors highlight the critical need for messaging security solutions. These solutions help protect customer data, prevent fraud, assure compliance with regulations, and maintain the trust and reputation of retail and e-commerce businesses in the digital age. As these industries evolve and expand, messaging security will remain a key focus area for cybersecurity measures.

The major strategies followed by the market participants are Acquisition & Mergers as the key developmental strategy to keep pace with the changing demands of end users. For instance, In April 2023, Trend Micro Inc., acquired Anlyz Cybersecure Private Limited, a specialist in Security Operations Centre (SOC) solutions, to incorporate its functionalities into Trend Micro's unified cybersecurity platform, Vision One. In October 2021, Forcepoint acquired Bitglass Inc., to accelerate its capability to address the widespread need to enable hybrid workforces to access and use information securely across the web, cloud, and data centre in a more effortless manner than ever before.

KBV Cardinal Matrix - Market Competition Analysis

Based on the Analysis presented in the KBV Cardinal matrix; Microsoft Corporation is the forerunner in the Market. In July, 2021, Microsoft Corporation completed the acquisition of CloudKnox Security Inc., to expand its security business, in addition to its efforts to keep Windows and its other products secure. Companies such as Cisco Systems, Inc., McAfee Corporation, Broadcom, Inc. are some of the key innovators in the Market.

Market Growth Factors

Increasing Number of Online Threats

As technology advances and communication channels become more interconnected, cybercriminals are devising new methods to exploit vulnerabilities and obtain unauthorized access to private data and communications. Organizations urgently need to invest in strong message security solutions to protect their priceless assets from cyber threats. One of the main drivers of the market's growth is the increase in cybercrimes like phishing and ransomware. The increase is heavily influencing the market in combating cyberattack frequency and complexity, increasing the need for robust messaging security solutions.

Growing Need of Rules and Regulations

The market is growing significantly due to the regulatory compliance requirement. Globally, governments and regulatory agencies are enforcing stricter rules and guidelines to protect the security and privacy of sensitive data. For example, the General Data Protection Regulation (GDPR) in the European Union requires businesses to implement appropriate security measures to protect personal data, such as information sent over messaging platforms. Companies have been strongly encouraged to invest in message security solutions to ensure compliance with these regulations. Therefore, the demand for market is driven by enterprises' need to adhere to regulatory standards and protect sensitive data communicated through messaging platforms.

Market Restraining Factors

High cost of implementation and complexity of security solutions

As the cost of implementing messaging security solutions increases, smaller organizations and businesses with limited budgets find it challenging to afford robust security measures. This can lead to a situation where only larger enterprises can invest in comprehensive messaging security, leaving smaller entities vulnerable to cyber threats. Organizations are often concerned about their security expenditures' return on investment (ROI). If the cost of implementation and maintenance outweighs the perceived benefits or the potential cost of security breaches, businesses hesitate to invest in advanced messaging security solutions. This can divert valuable resources from other critical IT and business initiatives, impacting overall productivity. These challenges and mitigate the negative impact on the market.

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions.

Component Outlook

By component, the market is bifurcated into solution and services. The services segment covered a considerable revenue share in the market in 2022. Message security services offer a range of benefits for individuals, businesses, and organizations seeking to protect their communications from various threats and vulnerabilities. The services segment is increasing because it helps organizations to identify vulnerabilities, develop security rules, configure and integrate security technologies, and conduct regular audits and assessments. This will ensure the effectiveness of messaging security measures.

Communication Mode Outlook

Based on communication mode, the market is classified into email and instant messaging. In 2022, the email segment witnessed the largest revenue share in the market. The loss of essential data has occurred in multiple instances due to malicious intent. Large volumes of crucial information are frequently stored in emails, and the rise in dangerous spam emails is driving up the need for email protection solutions. Additionally, these solutions must be enhanced over time to combat evolving threats.

Deployment Type Outlook

On the basis of deployment type, the market is divided into on-premises and cloud. The cloud segment garnered a significant revenue share in the market in 2022. The cloud segment is anticipated to experience the highest growth, as communications systems will be secured by leveraging the scalability and adaptability of cloud infrastructure. The message security solution is offered as a service by the cloud provider, who also maintains the hardware, software, and security updates.

Vertical Outlook

By vertical, the market is fragmented into BFSI, government & defense, healthcare, retail & Ecommerce, media & entertainment, manufacturing, and others. In 2022, the BFSI segment registered the maximum revenue share in the market. The financial industry collects a tremendous amount of data from its customers. Banks and other financial institutions use services to store and analyze complicated data more often to use the information gathered from various data sources and improve customer satisfaction. Banking institutions must adopt an anticipatory approach to security by incorporating cloud-based security platforms due to increasing customer expectations, expanding technological capabilities, and regulatory requirements.

Messaging Security Market Report Coverage

Report Attribute	Details
Market size value in 2022	USD 5.8 Billion
Market size forecast in 2030	USD 15 Billion
Base Year	2022
Historical Period	2019 to 2021
Forecast Period	2023 to 2030
Revenue Growth Rate	CAGR of 12.8% from 2023 to 2030
Number of Pages	302
Number of Table	453
Report coverage	Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Companies Strategic Developments, Company Profiling
Segments covered	Component, Communication Mode, Deployment Type, Vertical, Region
Country scope	US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers	Increasing number of online threats Growing need of rules and regulations
Restraints	High cost of implementation and complexity of security solutions

Regional Outlook

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region acquired a significant revenue share in the market. The growth of demand for these tools in this region is owed to the rising adoption of solutions that address the particular difficulties of the region's e-commerce ecosystem, including integrating secure messaging with payment gateways and fraud detection systems. These provide messaging security providers the opportunity to fulfil customer requirements.

Free Valuable Insights: Global Messaging Security Market size to reach USD 15 Billion by 2030

The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Proofpoint, Inc. (Thoma Bravo), Cisco Systems, Inc., Trend Micro, Inc., Check Point Software Technologies Ltd., Microsoft Corporation, Forcepoint LLC (Francisco Partners), F-Secure Corporation, Barracuda Networks, Inc. (KKR & Co. Inc.), McAfee Corp., Broadcom, Inc.

Strategies deployed in the Market

» Partnerships, Collaborations, and Agreements:

• Jun-2023: Check Point Software Technologies Ltd teamed up with Everphone, a leading provider of Device as a Service (DaaS), for advanced threat prevention on corporate smartphones. This partnership involves the integration of the offerings of the two companies that would provide the joint customers of the two companies with improvised security solutions.
• Apr-2023: McAfee Corp., formed a partnership with Acer Inc., one of the world’s top consumer electronics companies, to offer Acer customers a unified solution for safeguarding their personal information, privacy, and devices. Through this partnership, consumers can access a complimentary trial of antivirus, privacy, and identity monitoring services aimed at ensuring their protection against viruses, malware, spyware, and ransomware attacks. Furthermore, it assists in safeguarding customers from identity theft by actively monitoring their data on the dark web while providing privacy protection through an automated Secure VPN.
• Feb-2023: Trend Micro Inc., came into partnership with LogRhythm, Inc. The LogRhythm SmartResponse integrated with Trend Micro offers advanced capabilities for detecting and responding to threats, enabling swift and effective responses to alarms.
• Jan-2023: Check Point Software Technologies Ltd., joined hands with Intel Corporation, an American semiconductor manufacturer, to develop anti-ransomware capabilities for Check Point's Harmony platform. The partnership would provide the customers with solutions to counter processor-level threats. Additionally, the partnership would create anti-ransomware capabilities for the customers for early detection of threats.
• Aug-2021: Proofpoint, Inc. partnered with ISA Cybersecurity Inc., a cybersecurity-focused technology firm. This partnership delivered cost-effective, top-notch email security solutions to businesses of all sizes nationwide. It contributed to safeguarding individuals across various channels, encompassing email, web, cloud, social media, and mobile messaging. The managed services platform would provide the ability to control, secure, and monitor inbound and outbound messages, and would deliver extended threat prevention capabilities – in real-time – giving customers increased visibility and comprehensive protection against today’s advanced threats.
• Apr-2021: Broadcom Inc., teamed up with Google Cloud, a suite of Cloud Computing services offered by Google, to expedite innovation and enhance the integration of cloud services into Broadcom's core software franchises. Broadcom would deliver its suite of security and enterprise operations software on Google Cloud, enabling businesses to deploy Broadcom solutions in security, DevOps, and more on Google Cloud’s trusted, global infrastructure. This partnership is essential for delivering secure access to cloud applications and offering enterprises improved performance, ongoing compliance, and heightened security, thereby enabling organizations in their journey toward adopting the cloud.

» Product Launches and Product Expansions:

• Apr-2023: Cisco Systems, Inc. unveiled the latest progress towards its vision of the Cisco Security Cloud, a unified, AI-driven, cross-domain security platform. Cisco XDR simplifies investigating incidents and enables security operations centers (SOCs) to immediately remediate threats. The cloud-first solution would employ analytics to prioritize detections, shifting the focus away from continuous investigations towards resolving the most critical incidents through automation supported by evidence. With Cisco XDR, security operations teams would be able to respond to and mitigate threats before they get an opportunity to inflict significant damage.
• Mar-2023: Microsoft Corporation launched Microsoft Security Copilot, providing defenders with an essential tool for promptly identifying and responding to threats while gaining a deeper understanding of the overall threat landscape. Security Copilot combined Microsoft’s extensive threat intelligence footprint with industry-leading expertise to enhance the work of security professionals through an easy-to-use AI assistant. Security Copilot aimed to simplify complexity and enhance the capabilities of security teams by summarizing and providing clarity on threat intelligence, enabling defenders to discern malicious activity amidst the web traffic noise.
• Aug-2022: Microsoft Corporation revealed two new security threat intelligence products to help businesses proactively sniff out and prevent cyberattacks. Defender Threat Intelligence, which allowed customers to access a repository of unprocessed threat intelligence containing information about adversaries, including their identities, along with the correlation of their tools, tactics, and procedures. Another addition to Microsoft's lineup, Defender External Attack Surface Management, scans the internet to identify a company’s online assets and potential vulnerabilities. The approach aimed to lift the veil on the attacker and threat family behavior and help security teams find, remove, and block hidden adversary tools within their organization.
• Feb-2022: Forcepoint LLC launched Forcepoint ONE, a solution used for securing enterprises with hybrid workforces. The Forcepoint ONE comprehensive cloud platform streamlines security measures for both conventional and remote workforces, enabling users to securely access business data across the internet, cloud, and private applications with ease and control. Forcepoint ONE simplifies security by transforming the complex array of individual security functions, once assembled separately, into a genuinely cloud-native Zero Trust platform. This unified platform allows for the management of a single set of policies in one central location.

» Acquisition and Mergers:

• Aug-2023: Check Point Software Technologies Ltd. took over Perimeter 81 Ltd., a pioneering Security Service Edge (SSE) company. With the acquisition, Check Point would be able to deliver industry-leading security solutions.
• May-2023: Cisco Systems Inc., took over Armorblox Inc., a cloud office security platform that stops targeted attacks and data loss across email, messaging, etc., to protect email, cloud and office applications, and enterprise communication systems. The networking giant would leverage Armorblox's natural language processing, predictive, and generative artificial intelligence capabilities to assist its customers in gaining a deeper understanding of the security risks they would encounter.
• Apr-2023: Trend Micro Inc., acquired Anlyz Cybersecure Private Limited, a specialist in Security Operations Centre (SOC) solutions, to incorporate its functionalities into Trend Micro's unified cybersecurity platform, Vision One. Through the utilization of Trend Micro in conjunction with Anlyz, customers would experience increased XDR value, and the combined offering can simplify the process and technology complexity of running the SOC function within their organizations.
• Oct-2021: Forcepoint acquired Bitglass Inc., a company that delivers the industry’s only truly integrated cloud-native SSE platform for securing access to and usage of information as organizations transform to the cloud. Through the acquisition of Bitglass, Forcepoint would accelerate its capability to address the widespread need to enable hybrid workforces to access and use information securely across the web, cloud, and data center in a more effortless manner than ever before.
• Jul-2021: Microsoft Corporation completed the acquisition of CloudKnox Security Inc., a start-up whose software helps companies reduce the amount of access they provide to their cloud resources. The move represented another step Microsoft took to expand its security business, in addition to its efforts to keep Windows and its other products secure.
• Jul-2021: Barracuda Networks, Inc. acquired SkOUT Secure Intelligence, LLC, a New York-based channel-only provider of extended detection and response (XDR) services. Through the adoption of Skout's XDR platform, along with the company's security team, Barracuda would be able to provide real-time continuous security monitoring to managed service providers (MSPs) in the future, enabling them to address threats more efficiently.

Scope of the Study

Market Segments Covered in the Report:

By Component

• Solution
• Services

By Communication Mode

• Email
• Instant Messaging

By Deployment Type

• On-premises
• Cloud

By Vertical

• BFSI
• Media & Entertainment
• Healthcare
• Government & Defense
• Manufacturing
• Retail & Ecommerce
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

• Proofpoint, Inc. (Thoma Bravo)
• Cisco Systems, Inc.
• Trend Micro, Inc.
• Check Point Software Technologies Ltd.
• Microsoft Corporation
• Forcepoint LLC (Francisco Partners)
• F-Secure Corporation
• Barracuda Networks, Inc. (KKR & Co. Inc.)
• McAfee Corp.
• Broadcom, Inc.