Messaging Security Market worth US$ 8 Bn by 2027

As the world is drowning in the misery of the COVID-19 (coronavirus) pandemic, hackers and cyber in the messaging security market are certainly not on a lockdown. In a newsletter, the WHO (World Health Organization) has warned individuals to stay alert from the cyber criminals pretending to be from the WHO. During the past few weeks, it has been reported that cyber criminals are taking undue advantage of lockdown period by circulating 'phishing' attacks through malicious links and files.

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Heinous cybercrimes are hampering the credibility of companies in the messaging security market. In order to protect fixed and mobile devices from what the WHO calls an 'infodemic' of accurate and inaccurate information, companies in the market for messaging security are increasing awareness about obvious phishing signs such as poor spelling and grammar. Companies in the messaging security market are highlighting key signs of unofficial emails that create unnecessary urgency or too-good-to-be-true content to help individuals stave off from cyber-attacks.

Increasing number of corporates and enterprises are operating through multi-cloud environments. Hence, it is inevitable for companies in the messaging security market to innovate in cloud security services. As such, the revenue if SaaS/cloud system deployment is projected for exponential growth in the messaging security market, where the market is predicted to advance at a lightning CAGR of ~13% during the forecast period. Hence, companies such as FireEye Inc.- an intelligence-led security company, announce the launch of their new cloud security innovations with expanded capabilities in their existing FireEye Messaging Security platform to protect collaboration tools from malicious attacks.

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There is a growing need for flexibility in cloud security solutions to provide heightened visibility across multiple messaging platforms. This trend is fueled with pervasive adoption of multi-channel collaboration tools to enhance productivity of employees. Popular collaboration tools such as Microsoft Team and Slack are gaining widespread adoption in organizations to help increase productivity levels of teams. Hence, vendors are increasing focus in cloud security solutions, since attackers are looking to weaponize against popular cloud-based tools.

Instant messaging through mobile devices is gaining prominence as dislike for email increases in the messaging security market. Hence, users should be aware about how to protect their data in the messaging era, which is not an option for IT security departments in enterprises. However, there is a need to update policies that encompass new messaging and collaborative technologies, involving exclusive examples of acceptable and prohibited uses in the messaging security market. A clarity on these explicit examples will help to clear the confusion associated with the deployment of policies in practical use cases.

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Analysts of Transparency Market Research (TMR) opine that training programs will help to keep professionals and employees in the market for messaging security to be abreast with updated policies associated with the management of high-value organizational data. Vendors in the messaging security market should encourage enterprises to conduct training programs delivering knowledge about social engineering attacks.

Leading market players are conducting webcasts to highlight the importance of messaging security throughout the telecom industry. For instance, Nokia conducted their Security & E2E Product Security Analyst Webcast to shed some light on emerging complexities of the 5G network architecture in the telecom industry. As such, there is a need for dynamic and flexible security operations to protect diverse end users in the telecom sector.

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Companies in the messaging security market are unlocking opportunities in fixed, mobile, and 5G-IoT security solutions. This is being achieved by increasing focus in software security solutions and Security as a Service (SaaS) models. Companies in the messaging security market are leveraging their work in security standards forums to innovate in solutions that address security requirements of complex 5G network architectures.

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