Market Overview:
The social media security market size is projected to reach USD 3151.76 billion by 2028 from an estimated USD 1131.47 billion in 2021, growing at a CAGR of 15.76% globally.
Social media has become the most important part of modern organizations of the business strategies. The presence of social media offers several benefits to businesses such as transferring information regarding any particular product throughout the nation namely food, beverages, and healthcare product and it helps to increase the profit of businesses. Although benefits the social media include security risks such as hackers attack, phishing attacks, and scams, there is a need to safeguard digital assets for security such as Digital risk protection (DRP). It uses analyzed insights from Cyber threats intelligence (CTI) to effectively protect organizations from cyberattacks. Additionally, for the security of social media, there is a need to create social media policy, limit access to social accounts and regularly check for new social media security issues. The rising number of companies? presence on social media, required an IT security team to secure the data which supports the growth of the market over the forecast period.
Major Key Players for Social Media Security:
- Sophos,
- Trend Micro
- Symantec
- Micro Focus
- CA Technologies
- ZeroFOX
- RiskIQ
- SolarWinds
- Digital Shadows
- Proofpoint
- LookingGlass Cyber Solutions
Market Dynamics and Factors:
The rising online communities, brand promotion on social media, and large entertainment organizations, these factors accelerating the growth of the market. In addition to this, the growing number of social media platforms and the young generation are most influenced by social media, due to advancements in technology increasing the online presence of the organization, rising e-commerce sector, increase in the immense data generation via social media, thus raising the need of security of social media these factors also positively anticipated to the growth of the market of social media security. However, the lack of technicians, skilled workforce, and common laws in the countries, these factors responsible for hampering the growth of the market.
Social Media Security Report Highlight:
- By type, the monitoring segment is expected to have the maximum market share in social media security during the projected period. The rising adoption of social media among the organization and the need for an organization to protect the data from social media platforms against cyberattacks.
- By service type, the managed service is anticipated to have maximum growth in social media security. Most small businesses pay the subscription for managed services and rising advancing IT support, propels the growth of the market in the projected time.
- By security, the cloud security segment is predicted to expand the most in social media security during the forecast year. Rising the use of the cloud because of its low costs and high flexible functions boosts the growth of the market.
- By industry vertical, the retail and e-commerce segment is expected to have the maximum market share in social media security during the projected period. The rising trend of online shopping supports the growth of the market.
- By region, North America is expected to dominate social media security, during the projection period. High adoption of social media platforms such as Instagram, Facebook YouTube, and others, support the growth of the market.
Key Industry Development:
In June 2020, the Searchlight solution was announced by Digital Shadow can identify cloud breaches and help organizations to take fast action to alleviate risk.
In October 2020, the talent and assets of the Cyveillance business unit were acquired by Zero Fox and Looking Glass Cyber Solutions. Cyveillance combined with AI and Human Intelligence that able to combat digital threats.
Social Media Security Segmentation:
By Type
- Monitoring
- Threat Intelligence
- Risk Management
By Service
- Professional services
- Managed services
By Security
- Web Security
- Application Security
- Endpoint Security
- Network Security
- Cloud Security
By Industry Vertical
- IT and telecom
- Media and entertainment
- Travel and hospitality
- Retail and e-commerce
- Manufacturing
- Healthcare
- Education
- Banking, financial services, and insurance
For this report, Introspective Market Research has segmented the Social Media Security based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Turkey
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Vietnam
- Thailand
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Iran
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of LATAM
