Social Media Security Market Key Findings, Regional Analysis, Key Players

Posted by Sakshi Mishra on April 21st, 2021

The social media security market garners substantial traction. Social media platforms such as Twitter, LinkedIn, Facebook, YouTube, Instagram, and MySpace have gained huge popularity in recent years. Market growth is led by the rising adoption of various social media platforms in enterprises as a communication channel for branding, advertising, and increasing the customer base. Besides, increasing numbers of social media users escalate market growth.

According to Market Research Future (MRFR), the social media security market is poised to generate a valuation of USD 1.9 BN by 2023, growing at approximately 17% CAGR throughout the assessment period (2017 – 2023). Due to the huge amount of saved personal data, social media platforms have become a potential channel for cyber attackers to exploit customer data. Some of the key threats organizations face are spams, botnets malware, and direct attacks.

Rising data breach & security concerns and cloud-stored data & assets act as a key tailwind for the market growth. Additionally, the increasing adoption of smartphones and rising BYOD trend among enterprises boost social media security market growth. 

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Social Media Security Market – Geographical Analysis

North America dominates the global social media security market. The largest market share attributes to the increasing adoption of social media platforms in enterprises to stay connected. Besides, substantial investments in research and development of security solutions to safeguard enterprise data drive the growth of the market. Moreover, continuous demand for these solutions among enterprises and individuals fosters the growth of the regional market.

Well-established economies like the US and Canada are expected to gain the highest market share. The presence of several technology providers and development centers in the region boosts the growth of the market. Vast technological advancements impact market growth, offering a favorable platform for social media security.

Europe stands second in the global social media security market. The market growth is driven by the rapidly developing telecom network infrastructures in the region. Additionally, the growing industries in the region create substantial market demand and advances in security solutions and social media platforms. Also, the proliferation of artificial intelligence (AI) and smart connected devices act as key driving forces for market growth.
Furthermore, faster implementation of advanced technologies in the region pushes the market growth, posing cybersecurity challenges. Simultaneously, increasing numbers of cyber-attacks on social media platforms propel the development of the market.

The Asia Pacific social media security market is growing briskly. Factors such as the rising trend of social media and the increasing threat of cyber-attacks substantiate the regional market growth. Similarly, the growing demand for corporate data security from unauthorized access and cyber-attacks creates huge market demand. Moreover, increasing implementations of social media security solutions in rising numbers of companies increase market sales.

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