U.S. markets closed

  • S&P 500

    4,136.48
    -43.28 (-1.04%)
     

  • Dow 30

    33,926.01
    -127.93 (-0.38%)
     

  • Nasdaq

    12,006.96
    -193.86 (-1.59%)
     

  • Russell 2000

    1,985.53
    -15.69 (-0.78%)
     

  • Crude Oil

    73.23
    -2.65 (-3.49%)
     

  • Gold

    1,865.90
    -50.40 (-2.63%)
     

  • Silver

    22.40
    -1.22 (-5.17%)
     

  • EUR/USD

    1.0798
    -0.0113 (-1.04%)
     

  • 10-Yr Bond

    3.5320
    +0.1360 (+4.00%)
     

  • GBP/USD

    1.2056
    -0.0173 (-1.41%)
     

  • USD/JPY

    131.1500
    +2.5460 (+1.98%)
     

  • BTC-USD

    23,219.18
    -244.02 (-1.04%)
     

  • CMC Crypto 200

    535.42
    -1.43 (-0.27%)
     

  • FTSE 100

    7,901.80
    +81.64 (+1.04%)
     

  • Nikkei 225

    27,509.46
    +107.41 (+0.39%)
     

Global Business Email Compromise (BEC) Market Report 2022-2027 with Profiles of Key Players - Proofpoint, Mimecast, Check Point, Cisco, Broadcom, Agari, Trend Micro, Zix, Barracuda Networks, Greathorn

Research and Markets
·5 min read
Company Logo
Company Logo

Global Business Email Compromise (BEC) Market

Global Business Email Compromise (BEC) Market
Global Business Email Compromise (BEC) Market

Dublin, Oct. 12, 2022 (GLOBE NEWSWIRE) -- The "Global Business Email Compromise (BEC) Market by Offering (Solutions and Services), Deployment Mode (Cloud and On-premises), Organization Size (SMEs and Large Enterprises), Vertical (BFSI, Government, Healthcare) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global BEC market 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%

Some of the factors that are driving the market growth include 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.

However, the use of free, open-source, and pirated email security software and the high cost associated with the deployment of BEC solutions are expected to hinder market growth.

Services segment to grow at the highest CAGR during the forecast period

The services segment includes various services that are required to deploy, execute, and maintain BEC detection solutions in organizations. As the adoption of these solutions increases, the demand for these services is also expected to increase. The services include phishing awareness training, simulation services, and technical support services.

Various vendors offer BEC response services, which use advanced technology and analysis tools, to investigate email attacks, saving money and get back quickly and thoroughly to business faster. Some vendors offer services, which can be implemented quickly without additional infrastructure or IT overhead costs.

BEC simulation service mimics actual attack scenarios of different types of BEC attacks, such as fake invoice schemes, CEO spam, account compromise, data theft, attorney impersonation, and tax threats. Employees need to understand the tactics commonly used by cybercriminals, so a crucial role is played by security training services to reduce the likelihood of social engineering attacks resulting in data breaches.

Vendors, such as Barracuda Networks, offer security and awareness training solutions to protect against BEC or account compromise. Awareness helps employees exercise caution when receiving and sharing information via emails.

SMEs to grow at the highest CAGR during the forecast period

While the threat of cybercrime is continuously rising, the general awareness and resilience amongst SMEs remain low. One of the most common forms of cyberattacks against SMEs is BEC fraud.

These frauds usually occur as a result of a security breach of the business's computer network (or that of a third party), resulting in phishing attacks or email spoofing through social engineering techniques. SMEs have less budget to spend on security as compared to large organizations. In the event of a payment redirection fraud, the threat is more immediate. In this, SMEs either suffer a loss of its funds or those of its clients (which will attract potential liabilities).

The COVID-19 pandemic is widely exploited by malicious cyber attackers and APT groups using COVID-19 themes, due to which SMEs are focusing more on the security and adoption of BEC solutions. Even though SMEs have limited budgets, there are various vendors who have curated solutions according to the needs of SMEs. For example, the ZeroFox platform (deployable on cloud) provides advanced, AI-powered protection against phishing and BEC attacks and is the most suited for SMEs.

Asia Pacific to grow at the highest CAGR during the forecast period

The region includes emerging economies such as Japan, China, and Australia. Local firms have emerged as major contributors, especially in large markets such as China, Japan, and Indonesia and have been competing with the multi-national companies operating in the region.

China, Japan, and Korea have large ICT sectors, and India and Indonesia have developing markets for eCommerce and online services. In accordance with a report by Global System for Mobile Communications (GSMA), the mobile internet user penetration percentage in the Asia Pacific in 2019 was 48%.

Additionally, with effective government regulations and digitalization initiatives being taken by the government, the BEC market is witnessing high-growth opportunities in this region. The factors such as an increase in internet usage, regulatory compliances, and adoption of smart devices are the major factors fueling the adoption of BEC solutions. The region is also seeing a rise in cybercrimes including BEC attacks.

In recent years, Asia Pacific has undergone tremendous economic growth, political transformation, and social change. Asia Pacific is expected to witness a notable adoption of BEC solutions and services as enterprises and SMEs across verticals are deploying BEC solutions to provide protection to sensitive data.

Premium Insights

  • Instances of Email Phishing and Business Email Compromise Scams to Drive Market Demand

  • Solutions Segment to Hold Larger Market Share During Forecast Period

  • Cloud Segment to Hold Larger Market Share During Forecast Period

  • BFSI Vertical to Hold Largest Market Size During Forecast Period

  • Asia-Pacific to Emerge as Best Market for Investments in Next Five Years

Market Overview and Industry Trends

Drivers

  • Growing Scale of Business Email Compromise Scams and Spear-Phishing Attacks

  • Huge Financial Losses due to Business Email Compromise Crimes

  • Stringent Regulatory Standards and Data Privacy Compliances

Restraints

  • Use of Free, Open-Source, and Pirated Email Security Software

  • Cost Issues

Opportunities

  • Growing Use of ML/AI-Powered Business Email Compromise Solutions

  • Increasing Number of Email Users Globally

Challenges

  • Lack of Awareness Related to Business Email Compromise Solutions Among Enterprises

Technology Analysis

  • Artificial Intelligence and Machine Learning

  • Big Data Analytics

  • Cloud

Use Cases

  • Seattle Children's Hospital Deployed Proofpoint's Email Fraud Defense Solution to Combat Business Email Compromise Attacks

  • a Fortune 500 Company Chose Area 1 Security's Solution for Email Protection

  • Solcyber Partnered with Area 1 Security for Comprehensive Cloud-Email Security

Company Profiles

Key Players

  • Proofpoint

  • Mimecast

  • Check Point

  • Cisco

  • Broadcom

  • Agari

  • Trend Micro

  • Zix

  • Barracuda Networks

  • Greathorn

Other Players

  • Ironscales

  • Area 1 Security

  • Clearswift

  • Fortinet

  • Tessian

  • Terranova Security

  • Zerofox

  • Heimdal Security

  • Acronis

  • Phishlabs

  • Redscan

  • Startups

  • Armorblox

  • Cellopoint

  • Trustifi

  • Abnormal Security

For more information about this report visit https://www.researchandmarkets.com/r/1u555f

Attachment

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


Recommended Stories

  • ‘Won’t get fooled again’? Nasdaq jumped more than 10% in January. Here’s what history shows happens next to the tech-heavy index.

    Bespoke Investment Group examined how the Nasdaq has performed historically following a monthly gain of at least 10% after being down in the prior 12 months.

  • 12 Safe Stocks to Buy For Long-Term

    In this article, we take a look at 12 safe stocks to buy for the long-term according to hedge funds. You can skip our detailed analysis of safe stocks and go directly to read 5 Safe Stocks to Buy According to Hedge Funds. Even if there are many indications that the macro environment will remain […]

  • Electric shock: A new study found that EVs were more expensive to fuel than gas-powered cars at the end of 2022 — here are 3 easy ways to save cash no matter what you drive

    Is it time to pull the plug?

  • Why C3.ai Stock Soared 77% in January

    Shares of C3.ai (NYSE: AI) rocketed 77.4% higher in January, according to data from S&P Global Market Intelligence. The artificial intelligence (AI) enterprise software provider is seeing increased enthusiasm from investors due to the hype around the new AI chatbots released by companies like Open AI. The company also just announced a partnership to integrate AI language models from companies like Open AI and Google into C3.ai's software applications, which investors took as a positive sign for the stock.

  • Morningstar Lists Undervalued Stocks, Including Meta

    "The U.S. equity market remains undervalued, albeit much less undervalued than at the beginning of the year," he wrote in a commentary. As of Jan. 31, a composite of the 700-plus stocks listed on U.S. exchanges and covered by Morningstar indicated the market was 10% undervalued. "However, while we view the broad markets as undervalued for long-term investors, in the short term, we think the easy returns are behind us," Sekera said.

  • Magenta Therapeutics to shut down after patient death

    A Cambridge biotech is set to become at least the 10th Massachusetts biotech company to shut down since the start of 2022, following the death of a patient in a clinical trial.

  • 2023 Bargain Shopping: 5 Wildly Undervalued Stocks To Buy

    Plenty of bargains are still out there -- even among stocks on the rise. Amazon (NASDAQ: AMZN) offered investors hope last month when it soared more than 20%. Amazon reported its first annual loss in almost a decade.

  • Best Stock to Buy: Nio Stock vs. BYD Stock

    Nio (NYSE: NIO) and BYD (OTC: BYDD.F)(OTC: BYDDY) are catching a powerful tailwind from growing electric vehicle (EV) sales. This video will answer which EV stock is the best one to buy. *Stock prices used were the afternoon prices of Feb.

  • 3 Stocks That Are Better Candidates for Stock Splits in 2023 Than Amazon Was Last Year

    There's no guarantee these stocks will split this year. But their share prices are certainly high enough to do so.

  • Stock Market Rally Signals It's No Bear Run; What To Do Now

    The market has signaled it's no bear rally. But has a pullback already begun? A jury found Tesla CEO Elon Musk not liable for 2018 "funding secured" tweets.

  • The Best Stocks to Buy With $1,000 Right Now

    These three stocks have strong long-term prospects, sustainable cash flows, and reasonable valuations.

  • The US government hit its $31.4 trillion debt ceiling last month — triggering fears of a nasty fallout for Americans. Here are 3 ways it could hurt you

    Are you prepared for “extraordinary measures”?

  • 11 Best CBD Stocks To Buy Now

    In this article, we discuss 11 best CBD stocks to buy now. If you want to see more stocks in this selection, check out 5 Best CBD Stocks To Buy Now. The cannabis industry in 2022 had mixed results. While some new markets experienced significant growth, sales in many established markets decreased, slowing or even […]

  • TipRanks ‘Perfect 10’ List: Strong Catalysts Confirm the Bull Thesis on These 2 Stocks

    All investors are after gains, but in trying to find the right stocks to increase a portfolio’s value, are constantly inundated with massive amounts of data. Thus, separating the wheat from the chaff is an arduous process but there are tools to help make sense of it all. TipRanks’ Smart Score is one. The tool collects all the info needed on any given stock and sorts it out into 8 different categories, all known to impact future performance. Combining those factors, they are then distilled into a

  • SoFi's Remarkable Improvement in This Metric Shows Why It May Be a Smart Buy Right Now

    With management eyeing profitability by the end of 2023, now may be the time to consider an investment in SoFi Technologies.

  • 3 High-Yield Energy Stocks to Earn Passive Income for Years

    Energy stocks were the place to be in 2022, and many Wall Street analysts think their outperformance will persist well into the future. Granted, it's possible to find energy companies that pay larger dividends than ExxonMobil.

  • Why AMD Stock Surged Last Week

    Shares of Advanced Micro Devices (NASDAQ: AMD) climbed 14% this past week, according to data from S&P Global Market Intelligence. AMD's shareholders breathed sighs of relief when the chipmaker released its fourth-quarter earnings report after the market close on Tuesday. Going into the week, investors were fearful that AMD's results could mimic those of Intel (NASDAQ: INTC).

  • Ford Has Good News For Fans of Its EVs

    Elon Musk's electric vehicle manufacturing company Tesla remains the U.S. leader in EV production and sales and has grand plans to ramp up production of its vehicles by the end of the decade. Tesla set a record in producing 1.37 million of EVs in 2022 and delivering 1.31 million, but Musk and the company are not satisfied with that volume. Tesla's four EV manufacturing plants located in the U.S, China and Germany currently have a combined 1.9 million units vehicle capacity, but will have to crank up development of several new manufacturing plants if it plans to reach Musk and Tesla's goal of producing 20 million EVs by 2030.

  • 15 Best Dividend Leaders to Buy According to Hedge Funds

    In this article, we discuss 15 best dividend leaders to buy according to hedge funds. If you want to see more stocks in this selection, check out 5 Best Dividend Leaders to Buy According to Hedge Funds. First Trust Morningstar Dividend Leaders Index Fund (NYSE:FDL) is based on the 100 highest yielding stocks that have […]

  • Elon Musk Gives San Francisco a Second Chance

    The billionaire was just acquitted by a San Francisco jury in a civil trial over his 2018 tweets saying he was going to take Tesla private and that he had secured funding for it.