Global Social Media Security Market
Dublin, May 26, 2022 (GLOBE NEWSWIRE) — The “Social Media Security Market – Forecasts from 2022 to 2027” report has been added to ResearchAndMarkets.com’s offering.
The social media security market is expected to reach a market size worth US$4,316.343 million by 2027, growing at a CAGR of 20.22%. This market was valued at US$1,189.385 million in 2020.
Social media is an emerging platform where people connect for numerous purposes. With rising internet penetration and growing smart device usage, social media is gaining robust popularity and adoption. However, with flourishing social platforms and users, social crime and insecurities have increased tremendously.
Social crime includes social harassment, fake profiles, misguiding leads, data theft, breaching, hacking, and others. The high risk of social crime creates the market demand for social media security services. It is expected that rising instances of social crime and dysfunctions will drive the market demand for social media security. Furthermore, expanding social media platforms’ usage as earning sources has also increased the market prospects for social media security.
Geographically, the social media security market is divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific regions for the study. The Asia Pacific social media security market is expected to grow at a lucrative rate during the forecasted period. The regional market is fueled by growing internet penetration in the region and the rising adoption of social media.
Furthermore, an increase in social media earnings has notably increased disposable income. Social media platforms such as Instagram and Facebook have emerged as entertainment, education, skill enhancement, and connection area in the Asia Pacific region, which has significantly surged social media earnings.
A rise in income and propelling threat of social and cybercrime are expected to drive the market for social media security in the region. North America and European regions are anticipated to dominate the market owing to higher expenditure capability and significant users.