Pune, India, Sept. 01, 2021 (GLOBE NEWSWIRE) — Effective planning and implementation of security measures across social media accounts is anticipated to encourage growth in the global social media security market. Fortune Business Insights shared this information in a report, titled “Social Media Security Market: Global Market Analysis, Insights, and Forecast 2019-2026”. This report is will offer valuable insights into the drivers enabling growth in the market. Security measures help to protect the integrity of social media by protecting social media content against any threats. In addition to this, they also protect IT infrastructure of social media platforms such as Twitter, Facebook, LinkedIn and others from cyber-attacks. These attacks include Trojans, viruses, phishing, password attacks, and malware. Social media security helps to secure encryption details, internet access, and password of users.
North America to Show Impressive Growth Opportunities On Account ofSoaring Popularity of Social Media Platforms
Presently, North America for a considerably high share in the global social media security market. The region is projected to emerge dominant throughout the forecast period. The early adoption of social media platforms will stoke growth of the market in this region. However, the region also witnessed repeated incidents of privacy breach in social media platforms. Soaring cases of cybercrime have compelled organizations as well as individuals to invest in social media security solutions. Another factor driving the market in North America is the rising need from organizations to secure their confidential data on these platforms and monitor their social media activities.
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The increasing penetration of social media usage in emerging countries is likely to boost the market in Asia Pacific. Regulatory reforms on social media security and privacy in Asia Pacific are expected to give impetus to the market. Countries such as Japan and China old a strong position in the market. Moreover, some of the leading players are planning to join hands with governments of Japan, China, and other countries to deploy the best cyber security solutions.
Rising Adoption of IoT and Cloud Computing Solutions to Spur Growth in the Market
“The rising number of IT investments across the world is expected to reshape the IT sector,” said a lead analyst at Fortune Business Insights. “This, coupled with rising adoption of artificial intelligence (AI) will boost social media, in turn fuelling the demand for social media security solutions,” he added.. Also, the rising use of social media platforms by corporates is compellingorganizations to install social media security systems. The rising social media security awareness among users is likely to fuel demand for social media security services.
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Contrary to this, as social media penetration is increasing across the globe, governments are not able to frame common laws pertaining to its usage. Some of the servers are more prone to cyber-attacks as the hardware and software installed in them are outsourced. Misuse of social media platforms is another threat faced by organizations that can damage their reputation in the coming years.
Leading Companies to Capitalize on their Distribution Channel to Gain Competitive Edge
Several leading players are focussing on the adoption of strategies to maintain a stronghold in the global market. These strategies include partnerships, collaborations, new product launches, mergers and acquisitions (M&A), and business expansions. Some of the leading players operating in the global social media security market are Hootsuite Company, Sophos Group plc, Trend Micro Inc., SolarWinds Inc., Proofpoint, Inc., Digital Shadows Ltd., CA Technologies, KnowBe4, Inc., LookingGlass Cyber Solutions, maloon GmbH (Social Hub), Bowline Security Inc., and SecureMySocial.
Some of the strategies adopted by companies are:
- RiskIQ and Precise Technologies partnered together in June 2018. The main objective of this partnership was to help RiskIQ expand its distribution channel in Turkey, the Middle East, and Africa (excluding South Africa).
- Tech Mahindra and LookingGlass Cyber Solutions joined hands together in May 2018. LookingGlass’s aim is to improve and offer best solutions on threat intelligence to its customers.
- In June 2018, KnowBe4 announced the launch of a product calledBreached Password Test (BPT) to enhance its password identification feature.
- Digital Shadows expanded its business operations in March 2018 and launched new offices in Germany and Singapore.
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