Business Email Compromise market expected to reach $7.24 billion by 2032 with CAGR of 20.53%.
From GlobeNewswire: 2025-01-22 09:00:00
The Business Email Compromise Market was valued at USD 1.35 Billion in 2023, projected to reach USD 7.24 Billion by 2032, with a CAGR of 20.53%. The surge in cyberattacks drives the demand for advanced BEC prevention solutions, as phishing incidents have increased by 293%. Businesses are investing in AI and machine learning technologies to enhance security measures.
Large enterprises lead the BEC market, holding 66% of the revenue share in 2023, due to their resources for advanced security systems. SMEs are projected to grow at a CAGR of 22.14% from 2024 to 2032, recognizing the critical need for email security and turning to cost-effective solutions despite having fewer resources.
The BFSI sector dominates the BEC market with 23% revenue share in 2023, given its vulnerability to cyber threats due to managing sensitive data and transactions. The healthcare sector is poised for rapid growth with a projected CAGR of 24.03% from 2024 to 2032, driven by the increasing reliance on digital communication and the sensitive nature of patient data.
North America leads the BEC market with 42% of total revenue in 2023, attributed to advanced infrastructure and major financial institutions. Asia Pacific is experiencing rapid growth in the BEC market, driven by increasing technological advancements and the adoption of email security solutions. Businesses in North America are ramping up email security measures to combat cyberattacks and BEC schemes, bolstered by strong regulatory frameworks. Meanwhile, the Asia Pacific region is poised for significant growth in email security solutions due to digital transformation and increased awareness of cyber risks, with a forecasted CAGR of 22.39% from 2024 to 2032.
Key developments in the Business Email Compromise Market include partnerships like Cellopoint and Abusix integrating Mail Intelligence, and Mimecast enhancing email security with AI-driven updates to detect threats and reduce data breach risks. These advancements are crucial in the ever-evolving landscape of cybersecurity threats.
For more in-depth analysis, the Business Email Compromise Market report covers essential topics like market dynamics, segmentation by offering, deployment, vertical, organization size, and regional analysis. Companies like Mimecast, Cellopoint, and Abusix are profiled, showcasing innovative solutions to combat BEC schemes and protect sensitive data effectively.
SNS Insider offers consulting services like Go To Market Assessment, Total Addressable Market Assessment, and Competitive Benchmarking to help businesses navigate the complex landscape of cybersecurity threats and market dynamics. With a focus on providing accurate market data and insights, SNS Insider aims to empower clients to make informed decisions in a rapidly changing environment.
Read more at GlobeNewswire: Business Email Compromise Market to Reach USD 7.24 Billion