What Has Been the Progress and Growth of the Business Email Compromise Market in Recent Years?
The business email compromise market has seen considerable growth due to a variety of factors.
• Over the recent years, the size of the business email compromise market has seen a quick expansion. The market is projected to surge from $1.9 billion in 2024 to $2.22 billion in 2025, indicating a compound annual growth rate (CAGR) of 16.9%.
The historic upswing in the market can be credited to the development of phishing strategies, manipulation of trust bonds, email forgery and identity deception, absence of robust email security arrangements, the lure of financial profits, globalization, and the rising trend of remote work.
How Does the Forecast Look for the Business Email Compromise Market?
The business email compromise market is expected to maintain its strong growth trajectory in upcoming years.
• The industry for business email compromise is projected to expand swiftly in the future years, reaching a value of $4.34 billion by 2029, with a compound annual growth rate (CAGR) of 18.2%.
The anticipated surge during this forecast period is due to several factors like inadequacies in the email security structure, an increase in global connection and vulnerabilities associated with remote work, integration of ransomware in business email compromise, consistent deficiency in employee training and the increasing alliance between cybercriminals. The forthcoming period is expected to witness major trends such as worldwide escalation of assaults, exploitation across various channels, adjustment to security regulations, employment of emotional deception, and compromise of email accounts.
What Are The Leading Drivers Of Growth In The Business Email Compromise Market?
The expansion of the business email compromise market is anticipated to be propelled by the rising acceptance of cloud-based email services. These services, hosted via the internet, allow users to exchange, receive, and store emails without the necessity for local servers or infrastructure. Such cloud-based email services amplify business email compromise (BEC) security through consolidated advanced security, centralized observance, and scalability, thereby generating a demand for specific business email compromise preventative measures and services. For instance, as per the Luxembourg-based government entity Eurostat, European businesses primarily utilize cloud services for email (79%) and data storage (66%) in July 2024. Other favored uses include office software (61%), financial accounting software (47%), and hosting enterprise databases (46%). Consequently, the rising acceptance of cloud-based email services is fuelling the expansion of the business email compromise market.
Market Influence in Business Email Compromise: Escalating Cases of Business Email Compromise (BEC) and Spear-Phishing Attacks Augment the Business Email Compromise Market
How Are The Segments Defined Within The Global Business Email Compromise Market?
The business email compromise market covered in this report is segmented –
1) By Offering: Solutions, Services
2) By Deployment Mode: Cloud, On-Premise
3) By Organization Size: SMEs (Small And Medium Enterprises), Large Enterprises
4) By Vertical: Banking, Financial Services And Insurance, Government, Information Technology And Information Technology Enabled Services, Energy And Utilities, Manufacturing, Retail And E-Commerce, Healthcare, Other Verticals
Subsegments:
1) By Solutions: Email Authentication Solutions, Threat Intelligence Tools, Fraud Detection Software, Security Information And Event Management (SIEM)
2) By Services: Incident Response Services, Security Awareness Training, Vulnerability Assessment Services, Managed Security Services
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What Emerging Trends Are Influencing The Growth Of The Business Email Compromise Market?
Leaders in the business email compromise sector, like SlashNext Inc., are shifting their focus to the development of innovative technologies such as artificial intelligence (AI) tools to fortify their stance in the industry. AI tools are software applications designed with AI methods to address specific tasks or issues. To illustrate, SlashNext Inc., a renowned American computer and network security firm, unveiled the Generative HumanAI in February 2023. This trailblazing AI product, a first in the industry, arms businesses with novel methods to ward off advanced business email compromise (BEC), financial fraud, executive impersonations and supply chain attacks. It employs exploratory AI techniques to generate a multitude of potential BEC threats. This AI tool then applies deep learning via natural language processing to advance its ability to identify harmful emails.
Who Are the Key Players In The Business Email Compromise Market?
Major companies operating in the business email compromise market report are:
• Microsoft Corporation
• Cisco Systems Inc.
• Broadcom Inc.
• Fortinet Inc.
• OpenText Corporation
• Check Point Software Technologies Ltd.
• Trend Micro Inc.
• Cloudflare Inc.
• Fortra LLC
• Symphony Technology Group
• Mimecast Limited
• Barracuda Networks Inc.
• Acronis International GmbH
• Egress Software Technologies Ltd.
• Zix Corp
• ZeroFox Holdings Inc.
• Tessian Limited
• SafeGuard Cyber Inc.
• Heimdal Security A/S
• Cofense Bidco Corporation
• Agari Data Inc.
• Virtru Corporation
• Ironscales Inc.
• Valimail Inc.
• Redscan Cyber Security Ltd.
• Abnormal Security Corporation
• Trustifi LLC
• Retruster Ltd.
• Cellopoint International Corp.
• GreatHorn Inc.
What Is The Most Dominant Region In The Business Email Compromise Market?
North America was the largest region in the business email compromise market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the business email compromise market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
