Revenues from Social Media Security Market to top $1,970.6 million by 2023

(IT-NEWSWIRE.COM, May 10, 2019 ) The growth of Social Media Security Market is fuelled by the increasing adoption of enterprise social media and the need for organizations to secure their social media platforms and networks against malicious attacks and threats. Increasing sophistication in attacking techniques on social media, rising need to manage stringent regulations and compliances, and increasing use of social media by employees in the organization both for the organization, as well as personal purposes are encouraging organizations to deploy social media security solutions and services.

The global social media security market size is expected to grow from USD 895.6 million in 2018 to USD 1,970.6 million by 2023, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period.

North America is estimated to hold the largest market size, in 2018, which would be overtaken by APAC in 2023. The increasing need for organizations to protect their confidential data on social media platforms and monitor their employee’s social media activity related to organizations are expected to drive the social media security market. Furthermore, rapid penetration of enterprise social media in the major countries for business purposes, along with the regulatory reforms is expected to drive the social media security market in Asia Pacific (APAC).

Major vendors in the social media security market includes

• Sophos (UK)

• Trend Micro (Japan)

• Symantec (US)

• Micro Focus (UK)

• CA Technologies (US)

• ZeroFOX (US)

• RiskIQ (US)

• SolarWinds (US)

• Digital Shadows (US)

• Proofpoint (US)

• LookingGlass Cyber Solutions (US)

• KnowBe4 (US)

• Hootsuite (Canada) and many more.

The threat intelligence segment is expected to play a key role in the social media security market and projected to grow at the highest CAGR during the forecast period. With the rising penetration of social media across organizations, the imminent need to protect the social media platforms and networks against the malicious attacks has increased. It also helps organizations meet the Payment Card Industry Data Security Standard (PCI DSS), Health Insurance Portability and Accountability Act (HIPAA), Gramm–Leach–Bliley Act (GLBA), and other regulatory compliances.

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Source: EmailWire.Com

Source: EmailWire.com

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Revenues from Social Media Security Market to top $1,970.6 million by 2023