Social Media Fraud Detection Market Regional Analysis:
North American Market Insights
North America region is expected to account for more than 36.1% market share by 2035. The growth of the market can be attributed majorly to the increasing number of people in the region using social media boosting the demand for penetration testing on social media platforms. Social media is a typical medium to plan and execute cyber-attacks. According to Consumer International Organization, in 2019, there were 89.9 million social media users in the US alone. The digital ecosystem in North America is changing drastically and rapidly coupled with the growing proportions of advertising budgets being spent on mobile advertising. As the advertising expenditure is growing, the fraudulent players is expected to exploit the digital advertising ecosystem for their monetary gain, which is anticipated to drive the growth of the social media fraud detection market in North America.
Europe Market Insights
The European social media fraud detection market, amongst the market in all the other regions, is projected to hold the second largest share during the forecast period. The growth of the market can be attributed majorly to the rising digital fraud cases in Europe on account of the generation of massive amounts of enterprise data and technological advertisements. Furthermore, owing to the increasing size of enterprise data, analysis of the data becomes a complex process that results in such incidents which are mainly related to stock theft, information theft, and internal financial fraud. Such factors are anticipated to drive the growth of the Europe social media fraud detection market.
APAC Market Insights
Additionally, the Asia Pacific social media fraud detection market, amongst the market in all the other regions, is projected to hold a notable share during the forecast period. Asia Pacific has one of the largest consumers of internet and IT services which has the high potential to plan and impose media fraud. Furthermore, the presence of a large number of social media users in the region backed by the constantly growing population is also anticipated to hike the market growth over the forecast period. For instance, approximately 52% of social media users are anticipated to be living in the Asia Pacific region.
