New York, US, March 07, 2023 (GLOBE NEWSWIRE) -- Market Analysis

According to a comprehensive research report by Market Research Future (MRFR), “Social Media Security Market: By Solution, By Vertical, By Security Type, By Deployment, By Organization Size, By Region—Forecast till 2030”, the market is predicted to thrive substantially during the assessment era from 2020 to 2030 at a healthy CAGR of approximately 16.40% to attain a valuation of around USD 3863.45 Million by the end of 2030.

Social Media Security Market Competitive Landscape

Eminent industry players profiled in the global Social Media Security Market report include:

• ZeroFOX. (US)
• RiskIQ (US)
• Sophos Ltd (UK)
• Trend Micro Inc. (Japan)
• Micro Focus (UK)
• Symantec Corporation (US)

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Social Media Security Market Report Scope:

Social media security is the analysis of dynamic social media data to defend against commercial and security threats. Data, applications, and media must be protected against virus and hacking threats, and social media security is essential for this. An important factor accelerating market growth is the rise in social media usage by employees within organisations, both for the organisation and for the organisation. Other factors include the need to protect sensitive information pertaining to employees and the organisation, advancements in technology and social media platforms, and the rise in the penetration of enterprise on social media platforms.

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For instance, Irdeto stated in September 2019 that its Trace Mark forensic watermarking system now includes client watermarking functions, enabling quicker integration and identification of pirate sources. The company claims that because of growing spending on original content, broadcasting, and over-the-top (OTT) services, which makes redistribution piracy more difficult, content redistribution piracy still poses a severe danger to the media and entertainment industries.

Social media was the primary means of communication during this period of fear, confusion, and uncertainty. At the beginning of the epidemic and during crucial choices, there was a significant hunger for knowledge, and social media users were appreciative of the businesses that met the challenge by posting frequently and keeping their customers informed.

Even though the content was more reactive than usual, articles that were accurate, current, and addressed the requirements of the audience received a lot of attention.

The rise in malware attacks and security breach issues on social media platforms, the expanding use of social media, and the use of social media for marketing, advertising, and brand endorsement are some of the main drivers driving the development of social media security. Growth of the market would be impacted by rising demand for media security solutions for issues like phishing emails, impersonation, fraud or piracy, media monitoring, cyber security concerns, and others.

Also, increasing government rules or policies targeted at minimising social media usage as well as an increase in the demand for security across the media and corporate industries are anticipated to be significant drivers promoting the market's long-term growth.

Employees of organisations will use social media more, which will fuel the market.

The need to protect sensitive information pertaining to employees and the organisation, developments in technology and social media platforms, and an increase in the penetration of enterprise on social media platforms, among other factors, are important drivers of the market. The rise in the use of social media by employees in the organisation both for the organisation and for the organisation is a critical factor accelerating market growth.

Absence of international agreements and cross-border transactions can restrain market expansion

One of the main reasons limiting market growth is the absence of uniform legislation between nations, and the location of servers across borders will continue to be a problem for the industry over the projection period.

Data generation in social media presents a business opportunity for data analysis.

Among the key factors propelling the market are growing technological and social media platform improvements, as well as rising company use of social media platforms. Also, throughout the projection period, a boost in market research and development efforts as well as the volume of data created through social media platforms will open up new prospects for the market.

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Market Segmentation:

Advanced threat protection is the market segmentation for social media security by solution. Throughout the projection period, the segment is anticipated to increase at the fastest rate. the elements that make social media use more prevalent among businesses and the pressing necessity for those businesses to safeguard their social media networks and platforms from unwanted attacks.

Cloud security and data security are the two security types that make up the social media security market segmentation. Over the projection period, the cloud security category is anticipated to develop at the highest rate and held the largest market share in the social media security market. The need is fueled by factors including the increased usage of mobile devices, tablets, and the cloud, which makes them susceptible to network attacks and cybercrime.

The BFSI industry is also examined in terms of deployment and is predicted to have a high CAGR. Banks and financial companies have been attempting to increase customer satisfaction by providing personalised experiences by gathering user inputs over time, be it personal information, preferences, financial data, and others. This is in response to growing trends in online shopping and the surge of the COVID-19 pandemic. The requirement for social media security solutions can be impacted by the loss of crucial information due to data theft, data leakage, cyberattack risks, and related threats. These incidents can harm a company's growth and violate consumer confidentiality.

Between 2022 and 2030, the market's cloud-based sector is anticipated to expand significantly in terms of implementation.

Due to the low costs and high scalability functionalities, numerous firms have started to use the cloud to manage or run social media applications while offering a virtual server environment.

Due to its increasing use, the large enterprise category, measured by organisation size, is anticipated to develop significantly between 2022 and 2030. As they are most vulnerable to cyberattacks, they are most likely to adopt social media security solutions.

The market has been split into four regions based on geography: North America, Asia-Pacific, Europe, and the Rest of the World. The largest share of the market was in North America. The region with the highest CAGR during the predicted period will be Asia-Pacific.

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North America led the market in 2021. More social media virus campaigns, more people using social media applications, stricter government rules or laws governing corporate network security, among other things, have all contributed to the market's expansion.

The market is expected to grow at the quickest rate in Asia-Pacific. Asia-Pacific is the projected area for market growth due to the rising use of enterprise social media for branding and communication reasons in this region. The Asia-Pacific region has strict laws in place to protect social media users.

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