Social Media Security Market Overview
The growth of the global social media security market is thriving on the back of increasing utilization of social media apps amongst individuals around the globe along with the launch of several new social media apps that can access personal data of a user. Moreover, with the growing trend of utilization of different types of social media apps where users feel comfortable sharing personal data along with the increasing interest of organizations to increase consumer experiences by the utilization of data collected from the social media apps are some of the factors raising the concern for threats and attacks on social media applications, which in turn is raising the need for social media security software and services.
The global social media security market reached a value of around USD 1000 million in the year 2018 and is expected to garner a value of around USD 3500 million by the end of 2025 by registering a CAGR of around 20% across the globe over the forecast period 2020-2025. Further, the worldwide market of social media security is anticipated to achieve an absolute $ opportunity of around USD 2100 million during the forecast period.
Growth Highlights based on Region during 2018-2025
The global social media security market is segmented by regions into North America, Latin America, Europe, Asia Pacific and Middle East and Africa. Among these regions, the market of North America social media security market is driven by U.S., Canada and Mexico, where U.S. held the dominant market share of around 79% in the year 2018. Additionally, North America is expected to expand by observing the growth rate of around 2.5x over the forecast period and cross a value of around USD 1300 million by the end of 2025, which in turn is estimated to have a positive effect on the demand for social media security products in the long run. Additionally, North America held the largest market share of around 37% in the year 2018 in the global social media security market.
Further, Germany, France and U.K. are the prominent countries that are driving the growth of the Europe social media security market, where Germany accounted for the largest market share of around 28% in the year 2018.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Market Segmentation Synopsis
The global social media security market has been segmented on the basis of type into monitoring, threat intelligence simulation, risk management and others. The monitoring segment, with around 44% share in the year 2018, occupies the largest market of social media security across the globe. Additionally, monitoring segment is anticipated to cross a value of around USD 1400 million by the end of 2025 and further gain an absolute $ opportunity of around USD 860 million during the forecast period. Further, the threat intelligence simulation segment is estimated to grow with a healthy CAGR and gain an absolute $ opportunity of around USD 780 million during the forecast period.
Market Drivers and Challenges
Businesses around the world are increasingly adopting to social media platforms to advertise their products and services. Growing concern around the world for cyber threats and identity thefts have raised the need to protect the integrity of social media, which include data in motion as well as the inf0rmation of users, and further protect the businesses from other associated threats. Social media security service providers also help to protect the IT infrastructure of social media platforms and other associated resources and helps to protect the organization from any kind of cyber threats which includes trojans, malware, phishing, viruses, malvertising and password attacks amongst others. Social media security providers also help businesses to secure the internet access from where social media platforms are accessed and also keeps a backup of the data. Further, these systems encrypt the important information and help to secure IDs and passwords. The increasing concern of the organizations to secure themselves from cyber threats and other cyber attacks are some of the factors anticipated to drive the growth of the global social media security market.
Growing risks of data leakage owing to the increasing ubiquitous nature of smartphones and other communication devices, along with the dynamic landscape of security threats and absence of uniform regulatory structure are some of the factors anticipated to hamper negatively towards the growth of the global social media security market.
Top Featured Competitive Landscape
Some of the affluent industry leaders in the global social media security market are Proofpoint, Inc., ZeroFOX, Sophos Ltd., Trend Micro, Micro Focus, Broadcom Inc., RiskIQ, SolarWinds Worldwide, LLC, Digital Shadows Ltd., LookingGlass Cyber Solutions, Inc.