Global Business Email Compromise Market Report and Forecast 2024-2032

Global Business Email Compromise Market Outlook

The global business email compromise market attained a value of nearly USD 1.43 billion in 2023. The market is projected to grow at a CAGR of 19.40% between 2024 and 2032 to reach a value of around USD 7.07 billion by 2032.

Key Trends in the Market

Business email compromise (BEC) refers to a kind of cybercrime in which a victim is manipulated into sending money or leaking out information confidential to an organisation. Business email compromise can be of several types, such as data theft, false invoice scheme, lawyer impersonation, CEO fraud, or account compromise, among others.

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• One of the major business email compromise market trends includes a surge in the cases of cybercrimes related to business email compromise as it requires no technical skill. This is driving the adoption of solutions and services that can detect fake accounts, malicious emails, ransomware, and manipulative transaction.

• Increasing accessibility to payroll invoices, coupons, gift cards, and business-related schemes is likely to escalate the risk of business email compromise in the forecast period. The growing adoption of smartphones and laptops for professional applications is also expected to aid the market.

• Rising investments by enterprises to prevent business email compromise-induced financial losses are expected to boost the deployment of cybersecurity tools in the coming years.

Market Analysis

Based on offerings, the market is segmented into solutions, and services, among others. On the basis of deployment, the market is classified into cloud and on premise. By organisation, the market is categorised into large enterprises and small and medium enterprises.

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Based on end use, the market is divided into government, BFSI, energy and utility, IT and ITES, and healthcare, among others. The major regional markets for business email compromise are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global business email compromise market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Proofpoint, Inc.

• Mimecast Services Limited

• Check Point Software Technologies Ltd.

• Cisco Systems Inc

• Higher Logic, LLC

• Fortra, LLC

• Trend Micro Incorporated.

• ZIX Corporation

• Barracuda Networks, Inc.

• GreatHorn Inc.

• Cloudflare, Inc.

• Others

Market Share by Deployment

The cloud segment accounts for a healthy share of the business email compromise market. This can be attributed to the fact that cloud-based software offers faster deployment and constant updates with no hidden costs, hence offering convenience to the users.

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Cloud-based email security requires low maintenance, boosting the time-effectiveness of employees and increasing their productivity. Furthermore, the increasing deployment of cloud-based email security software across the healthcare, financial, and legal industries is fuelling the growth of this segment.

Market Share by End Use

Based on end use, the BFSI segment holds a significant share of the business email compromise market. Banks and financial institutions are adopting advanced strategies, including the use of cybersecurity tools, multi-factor authentication, and spam filtering, among others, to combat business email compromise.

In the BFSI sector, the rising number of transactions, surging incidences of phishing attacks, and the accessibility of financial institutions and banks to sensitive information can increase the chances of business email compromise, thereby enhancing the demand for secure and reliable solutions.

Competitive Landscape

Proofpoint, Inc. is an enterprise security company which offers solutions and products related to email security, protection against data loss, and email archiving, among others. It was founded in 2002 and is headquartered in California, the United States.

Mimecast Services Limited is a leading company which provides email management services and software, such as email delivery backup, security, and archiving, among others. It was established in 2003 and is currently headquartered in London, England.

Check Point Software Technologies Ltd. is a company which provides cybersecurity solutions to corporate enterprises and government institutions at a global level. Establishment of this company took place in 1993 and is headquartered in Tel Aviv, Israel.

Other market players include Cisco Systems Inc, Higher Logic, LLC, Fortra, LLC, Trend Micro Incorporated., ZIX Corporation, Barracuda Networks, Inc., GreatHorn Inc., and Cloudflare, Inc., among others.

Key Highlights of the Report