, /PRNewswire/ -- The "Global Business Email Compromise (BEC) Market Size, Share & Industry Trends Analysis Report By Offering (Solutions and Services), By Deployment Mode, By Organization Size (Large Enterprises and SMEs), By Vertical, By Regional Outlook and Forecast, 2022 - 2028" study has been added to ResearchAndMarkets.com's offering.
The Global Business Email Compromise (BEC) Market size is expected to scope $3.3 billion by 2028, rising astatine a marketplace maturation of 19.0% CAGR during the forecast period.
A benignant of scam known arsenic concern email compromise (BEC) targets businesses that usage ligament transfers and person overseas suppliers. Keyloggers oregon phishing attacks are utilized to impersonate oregon hack firm oregon publically accessible email accounts of executives oregon high-level workers engaged successful concern oregon ligament transportation payments successful bid to behaviour fraudulent transfers, costing hundreds of thousands of dollars successful damages.
BEC scams often commencement with an attacker taking power of a concern executive's email relationship oregon immoderate different email that is publically accessible. This is typically accomplished done the usage of keylogger software, phishing techniques, oregon forged emails that deceive the unfortunate into divulging relationship information. Phishing attacks usage a domain that intimately resembles the steadfast being targeted.
The fraudster is expected to effort to ascertain who requests ligament transfers and who conducts them aft observing the hacked email account. The offenders often bash a bully batch of investigation, seeking for a institution wherever the C-suite of the concern conception has changed, businesses wherever executives are connected concern trips, oregon by hosting an capitalist league call. They instrumentality vantage of these arsenic chances to transportation retired their plan.
Following the pandemic, determination has been an summation successful BEC and spear-phishing attacks. It is anticipated that rising net usage, mobile instrumentality adoption, and unreality deployment patterns is expected to heighten email level usage and assistance grow the adoption of BEC solutions & services.
The enlargement successful the utilization of BEC solutions is besides being fueled by the increasing regulatory compliances regarding the usage of emails.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has impacted assorted aspects of the concern domain. Due to the boosted adoption of the BYOD arsenic good arsenic WFH trends brought connected by COVID-19, determination person been much spear phishing & BEC attacks connected the BFSI infrastructure.
Owing to the delicate & backstage accusation they handle, BFSI organizations are taxable to strict information information regulations. As a result, determination is simply a increasing request for BEC solutions successful the BFSI sector.
Market Growth Factors
Massive Financial Losses Owing to the BEC Crimes
Phishing attacks, spam emails, microorganism attacks, individuality thefts, APTs, zero-day attacks, and galore much blase attacks are progressively targeting emails. It is highly susceptible to people information breaches since each day, much than billions of emails are sent and received.
Organizations are being urged by these fiscal repercussions to instrumentality email encryption solutions successful bid to efficaciously unafraid their email infrastructures. Each institution needs to person a beardown information posture that guards against ransomware. Effective entree management, information encryption, heightened security, anomaly detection, and broad idiosyncratic entree controls are indispensable for an effectual defence against cybercriminals.
As a result, it is estimated that passim the forecast period, expanding phishing assaults volition thrust the market.
Rise successful the Usage of Ml/Ai-Powered BEC Solutions
In a BEC scam, attackers presume the individuality of a reliable root to coerce their victims into sending mendacious outgo information. Gift paper theft, outgo redirection, and fraudulent supplier invoices are each examples of BEC scams. In bid to halt BEC frauds, vendors successful the manufacture usage AI/ML capabilities to analyse each email message.
To forestall immoderate important fiscal losses, ML/AI-powered BEC detection tools assistance successful much efficiently identifying and halting email fraud attacks. Many companies are processing precocious solutions integrated with ML/ AI powered BEC solutions, which is expected to escalate the maturation of the marketplace during the forecast period.
Marketing Restraining Factor:
Usage of Open Source, Free and Pirated Email Security Software
BEC solutions assistance individuals and businesses successful lowering the hazard of information loss. There are galore antithetic types of open-source email information programmes connected the market. Email encryption programmes similar VeraCrypt, DiskCryptor, FileVault, and AxCrypt springiness astir each of the functionality offered by the starring marketplace manufacturers.
The availability of specified bundle connected the marketplace negatively impacts large vendors who connection solutions to halt BEC frauds, which has a nonstop interaction connected their bottommost lines. Therefore, it is anticipated that the accessibility of these escaped solutions volition bounds marketplace maturation passim the forecast period.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
18.104.22.168 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies deployed successful Business Email Compromise (BEC) Market
Chapter 4. Global Business Email Compromise (BEC) Market by Offering
4.1 Global Solutions Market by Region
4.2 Global Services Market by Region
Chapter 5. Global Business Email Compromise (BEC) Market by Deployment Mode
5.1 Global Cloud Market by Region
5.2 Global On-premises Market by Region
Chapter 6. Global Business Email Compromise (BEC) Market by Organization Size
6.1 Global Large Enterprises Market by Region
6.2 Global SMEs Market by Region
Chapter 7. Global Business Email Compromise (BEC) Market by Vertical
7.1 Global BFSI Market by Region
7.2 Global IT & ITeS Market by Region
7.3 Global Retail & eCommerce Market by Region
7.4 Global Manufacturing Market by Region
7.5 Global Government Market by Region
7.6 Global Energy & Utilities Market by Region
7.7 Global Healthcare Market by Region
7.8 Global Others Market by Region
Chapter 8. Global Business Email Compromise (BEC) Market by Region
Chapter 9. Company Profiles
9.1 Check Point Software Technologies Ltd.
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Regional Analysis
9.1.4 Research & Development Expense
9.2 Broadcom, Inc.
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 Recent strategies and developments:
22.214.171.124 Acquisition and Mergers:
9.2.6 SWOT Analysis
9.3 Fortinet, Inc.
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Regional Analysis
9.3.4 Research & Development Expenses
9.4 Cisco Systems, Inc.
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Regional Analysis
9.4.4 Research & Development Expense
9.4.5 Recent strategies and developments:
126.96.36.199 Product Launches and Product Expansions:
9.4.1 SWOT Analysis
9.5 Trend Micro, Inc.
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Regional Analysis
9.5.4 Research & Development Expense
9.6 Proofpoint, Inc.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Regional Analysis
9.6.4 Research & Development Expense
9.6.5 Recent strategies and developments:
188.8.131.52 Partnerships, Collaborations, and Agreements:
184.108.40.206 Product Launches and Product Expansions:
9.7 Mimecast Limited
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Regional Analysis
9.7.4 Research & Development Expense
9.8 Barracuda Networks, Inc. (Thoma Bravo)
9.8.1 Company Overview
9.8.2 Recent strategies and developments:
220.127.116.11 Product Launches and Product Expansions:
9.9 Agari (HelpSystems, LLC)
9.9.1 Company Overview
9.10. Zix Corporation
9.10.1 Company Overview
For much accusation astir this study sojourn https://www.researchandmarkets.com/r/udbp2o
Research and Markets
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