Growing scale of business email compromise scams and spear phishing attacks is a significant factor driving global BEC market revenue growth
— Emergen Research
VANCOUVER, BC, CANADA, January 3, 2023 /EINPresswire.com/ — The global Business Email Compromise (BEC) market size is expected to reach USD 4.79 Billion at a steady revenue CAGR of 19.4% in 2030, according to latest analysis by Emergen Research. Growing scale of business email compromise scams and spear phishing attacks is a major factor driving market revenue growth. Business Email Compromise (BEC), is a type of phishing scam, in which an executive’s email account is impersonated or compromised to trick the victim into starting a wire transfer or disclosing critical information. Social engineering and spear phishing are key components of this attack, which frequently targets individuals who manage sensitive company information, conduct purchases, or have other fiduciary responsibilities. BEC schemes frequently begin with a phishing email designed to gain unauthorized access to the account of targeted employee. Attacker can send the targeted employee a number of emails to establish a rapport of trust. These emails typically do not have links or attachments, but they nevertheless provide a risk as they give the attacker access to internal sources. Scammers can ask about payments or personal information while posing as reputable suppliers or workers, while employees will get emails or phone calls from scammers using embedded contact lists, building their trust.
The latest market intelligence study, called “Global Business Email Compromise Market Forecast to 2030,” jots down some of the most prominent growth potentials of the global Business Email Compromise market. The report is primarily targeted at the industry stakeholders looking to capitalize on this report’s contents to make improved business decisions. The report is further intended to help the readers gain vital insights into the global market, particularly the prevailing growth opportunities and competitive scenario. The insightful data & information provided by this report are gathered from various primary and secondary sources.
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Some Key Highlights From the Report
On 25 February 2020, Proofpoint, Inc., a leading cybersecurity and compliance company released the first integrated, end-to-end solutions to address Business Email Compromise (BEC) and Email Account Compromise (EAC) attacks. These solutions combine Proofpoint’s top secure email gateway, advanced threat protection, threat response, email authentication, security awareness training, and cloud account protection. In addition, Proofpoint announced a number of improvements to its Proofpoint Cloud App Security Broker (CASB) to protect cloud applications that employees use on a daily basis, including Amazon Web Services, Box, Google G Suite, Microsoft Office 365, and Slack. This will aid organizations in thwarting sophisticated cyberattacks that use both email and cloud vectors.
The solutions segment is expected to lead in terms of revenue share in the global market over the forecast period. Use of BEC solutions has a number of advantages such as ability to dynamically detect and block specific corporate email intrusion types, recognize a variety of BEC tactics including use of fictitious supplier domains and compromised supplier accounts, notify recipients of email’s source, tag any external emails, assess the urgency of an email by looking at its header, sender’s IP, reputation, and other data, use advanced BEC defense, and utilize a detection engine based on Machine Learning (ML).
The on-premises segment is expected to account for large revenue share over the forecast period. On-premises is a more traditional alternative, in which emails are sent, received, and archived on real servers located on-premises. These servers are frequently owned and run by domain owner. For instance, government organizations favor internal servers over external servers controlled by external services. This is particularly true for larger businesses or organizations that have serious security issues. Most of this internal server’s housing is on-site.
The leading contenders in the global Business Email Compromise market are listed below:
Proofpoint, Mimecast Services Limited, Check Point Software Technologies Ltd., Cisco Systems, Inc., Broadcom, Fortra, LLC, Trend Micro Incorporated, Zix Corporation, Barracuda Networks, Inc., and GreatHorn, Inc
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For the purpose of this report, Emergen Research has segmented the global BEC market based on offering, deployment mode, vertical, and region:
Offering Outlook (Revenue, USD Million; 2019–2030)
Deployment Mode Outlook (Revenue, USD Million; 2019–2030)
Vertical Outlook (Revenue, USD Million; 2019–2030)
IT & ITES
Energy & Utilities
Retail & E-Commerce
Regional Outlook of the Business Email Compromise Market
The global Business Email Compromise market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In this section, authors of the report have studied the presence of the global Business Email Compromise market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
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Key reasons to buy the Global Business Email Compromise Market report:
The latest report comprehensively studies the global Business Email Compromise market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products & services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
The report also provides an extensive analysis of the key market elements, such as drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The exhaustive SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis included in the report are intended to help the reader tactfully formulate business growth strategies. Strategic recommendations for the established market players assist them in fortifying their financial positions in the market.
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