TMCnet News
Business Email Compromise (BEC) Market Worth $2.8 Billion By 2027 - Exclusive Report by MarketsandMarkets™CHICAGO, Aug. 15, 2022 /PRNewswire/ -- Business Email Compromise (BEC) Market size is expected to grow from an estimated value of USD 1.1 billion in 2022 to USD 2.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 19.4% from 2022 to 2027, according to a new report by MarketsandMarkets™. Growing incidents of business email compromise scams and spear-phishing attacks, huge financial losses due to BEC crimes, and stringent regulatory standards and data privacy compliances are some of the factors that are driving the market growth.  Browse in-depth TOC on "Business Email Compromise (BEC) Market" Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=162703497 By deployment mode, cloud segment to hold a larger market size during the forecast period Companies have increasingly turned to the cloud for their email solution. This trend has been witnessed by cybercriminals or attackers and are finding ways to access email hosted in the cloud. Businesses are proactively deploying cloud-based BEC solutions for remotely protecting end users from phishing emails. Enterprises are seeking cloud-based BEC solutions to enable cost-effectiveness, rapid deployment, and on-demand access to expertise for mitigating advanced threats on email platforms. Small and medium-sized companies often rely on cloud BEC security from providers. All incoming and outgoing emails pass through the provider's servers. Cloud-based BEC services provide security features, such as advanced phishing protection and MFA, which are either not enabled by default or are only available at additional cost depending upon the vendor. Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=162703497 By vertical, healthcare segment to grow at the highest CAGR during the forecast period The healthcare sector is constantly focusing on enhancing services delivered to patients. While delivering the best services to patients and staff, clinics, and hospitals must assess and control various risks with regards to patient safety, federal regulations, and medical errors. Medical records fetch around USD 429 per record in the black market, making the healthcare vertical a lucrative target for ransomware, APTs, and malware attacks. BEC solutions have emerged as a validsolution to address issues, such as data security, patient safety, and enhanced productivity, to accelerate the overall process. During the COVID-19 pandemic, in phishing emails, fraudsters have been impersonating World Health Organization (WHO) and the Centers for Disease Control (CDC). The mails were aimed at disseminating ransomware and other malicious code through attachments purporting to contain important information about the virus. More than 1,200 hospitals in the US have partnered with Zix to maintain HIPAA compliance. According to research by Paubox, 39% of all HIPAA breaches occurred via emails. Government regulations such as HIPAA and Health Information Technology for Economic and Clinical Health (HITECH) have resulted in the rapid adoption of BEC solutions in the healthcare vertical. Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=162703497 By region, North America to hold the largest market size during the forecast period North America is estimated to account for the highest market share in the BEC market. The region has some of the prominent vendors that offer BEC solutions and services; some of them are Proofpoint, Cisco, Broadcom, Zix, Barracuda Networks, among others. The PCI DSS, HIPAA, GLBA, SOX, and other regulatory compliances help organizations in protecting the sensitive data of their customers. These regulations play an important role in promoting the adoption of BEC solutions and services among end users. The adherence to compliance and regulations, increasing BEC frauds, growth in the adoption of mobile and other connected devices, and increasing internet usage are the factors driving the growth of the BEC market in the region. Countries analyzed for the BEC market in this region are the US and Canada. Key Players Major vendors in the Business Email Compromise (BEC) Market include Proofpoint (US), Mimecast (UK), Check Point (Israel), Cisco (US), Broadcom (US), Agari (US), Trend Micro (Japan), Zix (US), Barracuda Networks (US), GreatHorn (US), IRONSCALES (US), Area 1 Security (US), Clearswift (UK), Fortinet (US), Tessian (US), Terranova Security (Canada), ZeroFox (US), Heimdal Security (Denmark), Acronis (Switzerland), PhishLabs (US), Redscan (UK), Armorblox (US), Cellopoint (Taiwan), Trustifi (US), and Abnormal Security (US). Browse Adjacent Markets: Information Security Market Research Reports & Consulting Related Reports: Cybersecurity Market by Component (Software, Hardware, and Services), Software (IAM, Encryption, APT, Firewall), Security Type, Deployment Mode, Organization Size, Vertical, and Region (2022 - 2026) Email Encryption Market by Component (Solutions & Services), Type (End-to-End, Gateway, Hybrid, and Client Plugins), Deployment Mode (On-premises & Cloud), Organization Size, Vertical (BFSI, IT & ITeS, and Telecom), and Region - Global Forecast to 2026 About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg 
|