Social Media Security Market

RiskIQ and ZeroFOX are the Leading Players in Social Media Security Market

Social media security refers to the organized set of procedures and processes, which are used to analyze the huge volumes of dynamic metadata generated on the social media platforms and social networks and protect the voluminous metadata against any security attacks and business threats. Social media security solutions and services help organizations not only to monitor their employee behavior on the organizations’ social media platforms, but also assist in adverting any threats that might damage the reputation of organizations or compromise organizations confidential data onto social platforms. These security solutions and services would enable organizations to stop any suspicious behavior by any agent either deliberately or unknowingly, which can cause either direct or indirect harm to organizations.

The social media security market study by MarketsandMarkets presents information on various social media security attack approaches, trends, and solutions to prevent the attack. Major growth factors for the social media security market are the increasing user engagement on social media using smartphones, rising security attacks on social media platforms, and stringent government regulations and compliance requirements. MarketsandMarkets forecasts to the market to grow from USD 895.6 million in 2018 to USD 1970.6 million by 2023, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period.

Sophos (UK), Trend Micro (Japan), Symantec (US), Micro Focus (UK), CA Technologies (US), ZeroFOX (US), RiskIQ (US), SolarWinds (US), Digital Shadows (US), Proofpoint (US), LookingGlass Cyber Solutions (US), KnowBe4 (US), Hootsuite (Canada), Centrify (US), Social Hub (Europe), Brandle (US), DigitalStakeout (US), Bowline Security (US), Social Sentinel (US), SecureMySocial (US), Hueya (US), CSC (US), CoNetrix (US), Crisp Thinking (UK), and CrowdControlHQ (UK). These players have adopted various growth strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product launches, to achieve further growth in the global social media security market.

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RiskIQ is among the leading players in the social media security market. The fundamental objective of the company is to meet its clients’ requirements, and provide new advancements in the social media security market. It offers digital threat management solutions and services to Fortune 500 companies across various verticals, including financial services, consumer goods, government, manufacturing, healthcare, eCommerce, and media and entertainment. Moreover, it caters to more than 250 global enterprises. It has 40,000 security analysts and more than 140 employees, as of June 2017. The company provides PassiveTotal, RiskIQ External Threats, and RiskIQ Digital Footprint in solutions in the social media security market. RiskIQ follows both organic and inorganic growth strategies for business expansions. For instance, in January 2017, the company acquired Maccabim to enhance its digital threat mitigation technology. This acquisition enabled the company to further enhance its social media security solutions’ capabilities. RiskIQ’s long-term strategy is to embed advancements to its social media security solutions and enhance its capabilities through new product launches. In February 2018, RiskIQ announced major enhancements to its Digital Footprint solution, to offer its customers enhanced safety from digital threats. Similarly, in November 2016, RiskIQ announced major enhancements to the RiskIQ PassiveTotal platform. These enhancements assisted security teams to address the increasing challenges related to web, social, and mobile cyber threats.

ZeroFOX is another innovative provider of social media security prevention solutions and services. The company is an established player and renowned vendor that offers dedicated social media security solutions to protect modern organizations from dynamic security risks across social, mobile, web, and collaboration platforms. The company protects organizations from evolving phishing attacks, credential compromise, data exfiltration, brand hijacking, and executive and location threats, among others. ZeroFOX caters to various verticals, including financial services, media, sports and entertainment, government, healthcare and education, travel, hospitality, food and beverages, technology and eCommerce, utilities, energy and manufacturing, retail, and Consumer Packaged Goods (CPG). The company has its presence in the US and UK. ZeroFOX’s long-term strategy is to embed advancements to its social media security solutions and enhance its capabilities through new product launches. For instance, in February 2017, ZeroFOX introduced its Enterprise Security Product Suite, which includes employee, executive, and VIP protection solutions. These solutions protect high-value employees from targeted threats, such as impersonation, frauds, scams, physical threats, and reputation damage. In August 2016, ZeroFOX launched a team of security researchers to enhance social media security for organizations. In March 2016, ZeroFOX partnered with Hootsuite, a leading provider of social media management platforms, to safeguard users from the risks associated with social media. These developments have enhanced the company’s capabilities, as well as assisted it to gain a significant market share in the global social media security market.

Related Reports:

Social Media Security Market by Solution (Monitoring, Threat Intelligence, and Risk Management), Service (Professional Service and Managed Service), Organization Size, Industry Vertical, and Region - Global Forecast to 2023

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Social Media Security Market Size,  Share & Growth Report
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