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Dublin, January 16, 2023 /PRNewswire/ — “Global Business Email Conformity (BEC) Market Size, Share and Industry Trends Analysis Report Presenting (Solutions and Services), by Deployment Mode, by Enterprise Size (Large Enterprises and SMEs), by Vertical, by Region Outlook and Forecast, 2022 – 2028” report added. ResearchAndMarkets.com’s Providing.
The global business email agreement (BEC) market size is expected to reach 3.3 billion dollars In the year By 2028, the market is growing at a CAGR of 19.0% during the forecast period.
A type of scam known as business email compromise (BEC) targets businesses that use wire transfers and have external vendors. Keyloggers, or phishing attacks, are used to hack or hack corporate or publicly accessible email accounts of executives or high-level employees to conduct fraudulent transactions.
BEC scams often begin with an attacker taking control of a business executive’s email account or other publicly accessible email address. This is typically done through keylogger software, phishing techniques, or fraudulent emails tricking the victim into revealing account information. Phishing attacks use a domain that closely resembles the organization being targeted.
After viewing the hacked email account, the fraudster is expected to try to figure out who wants to forward it and who is running it. Criminals often do a good job of investigating, whether it’s a company where the finance department has changed the C-suite, businesses where executives are on a business trip, or hosting investor conference calls. They use these as opportunities to execute their plans.
BEC and spear phishing attacks have increased following the outbreak. Increasing internet usage, mobile device adoption and cloud deployment patterns are expected to increase email platform usage and help expand adoption of BEC solutions and services.
The expansion in the use of BEC solutions is being fueled by the growing regulatory regime surrounding email use.
Analysis of the impact of Covid-19
The Covid-19 pandemic has affected various business sectors. Due to the strengthening of BYOD and WFH trends brought about by Covid-19, more phishing and BEC attacks have occurred on BFSI infrastructure.
BFSI organizations are subject to strict data security regulations regarding the confidential and personal information they handle. As a result, the demand for BEC solutions in the BFSI sector is growing.
Reasons for market growth
Huge financial losses due to BEC crimes
Phishing attacks, spam emails, virus attacks, identity theft, APTs, zero-day attacks and many other sophisticated attacks are targeting emails. Because billions of emails are sent and received every day, it is extremely vulnerable to targeting data breaches.
Organizations are encouraged by these financial results to implement email encryption solutions to effectively protect their email infrastructure. Every company should have a strong security posture to protect against ransomware. Effective access management, data encryption, high security, anomaly detection and comprehensive user access controls are essential to deter cybercriminals.
As a result, the rise in phishing attacks is expected to drive the market throughout the forecast period.
Rise in the use of Ml/Ai-Powered BEC solutions
In BEC fraud, attackers pretend to be a trusted source in order to coerce their victims into sending fake payment information. Gift card theft, payment diversion, and fraudulent vendor invoices are all examples of BEC scams. Vendors in the industry use AI/ML capabilities to analyze every email message to stop BEC fraud.
To prevent any significant financial losses, ML/AI-powered BEC detection tools help detect and stop email phishing attacks effectively. Many companies are developing advanced solutions integrated with ML/AIA powered BEC solutions which are expected to drive the growth of the market during the construction period.
Reason for trading ban:-
Open source, free and pirated use Email security software
BEC solutions help individuals and businesses reduce the risk of data loss. There are many types of open source email security programs on the market. Email encryption programs such as VeraCrypt, DiskCryptor, FileVault, and AxCrypt offer almost all of those offered by major market manufacturers.
The presence of such software in the market will have a negative impact on the large vendors that offer solutions to stop BEC fraud, which will have a direct impact on their bottom lines. Hence, accessibility of these free solutions is expected to limit the market growth throughout the forecast period.
Key topics covered:
Chapter 1. Market scope and methodology
Chapter 2. Market overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition and situation
2.2 Key factors affecting the market
2.2.1 Market drivers
2.2.2 Market restrictions
Chapter 3. Strategies deployed in the Business Email Agreement (BEC) Market
Chapter 4. Presenting the global business email agreement (BEC) market
4.1 Global solutions market by region
4.2 Global services market by region
Chapter 5. Global Business Email Agreement (BEC) Market Deployment Mode
5.1 Global cloud market by region
5.2 Global market by region
Chapter 6. Global Business Email Protocol (BEC) Market by Enterprise Size
6.1 Global Enterprise Market by Region
6.2 International Small Market Market by Region
Chapter 7. Global Business Email Agreement (BEC) Market by Vertical
7.1 Global BFSI Market by Region
7.2 Global IT and ITS Market by Region
7.3 Global Retail and Ecommerce Market by Region
7.4 Global manufacturing market by region
7.5 Global Government Market by Region
7.6 Global Energy and Utilities Market by Region
7.7 Global Healthcare Market by Region
7.8 Global other market by region
Chapter 8. Global Business Email Protocol (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 and Development Costs
9.2 Broadcom, Inc.
9.2.1 Company overview
9.2.2 Financial analysis
9.2.3 Section and regional analysis
9.2.4 Research and development costs
9.2.5 Recent Strategies and Developments:
9.2.5.1 Acquisitions 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 and Development Costs
9.4 Cisco Systems, Inc.
9.4.1 Company overview
9.4.2 Financial analysis
9.4.3 Regional analysis
9.4.4 Research and Development Costs
9.4.5 Recent Strategies and Developments:
9.4.5.1 Product launches and product extensions:
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 and Development Costs
9.6 Check Point, Inc.
9.6.1 Company overview
9.6.2 Financial analysis
9.6.3 Regional analysis
9.6.4 Research and Development Costs
9.6.5 Recent Strategies and Developments:
9.6.5.1 Partnerships, Cooperation and Agreements:
9.6.5.2 Product launches and product extensions:
9.7 Mimecast Limited
9.7.1 Company overview
9.7.2 Financial analysis
9.7.3 Regional analysis
9.7.4 Research and Development Costs
9.8 Barracuda Networks, Inc.Thomas Bravo)
9.8.1 Company overview
9.8.2 Recent Strategies and Developments:
9.8.2.1 Product launches and product extensions:
9.9 Agari (Support Systems, LLC)
9.9.1 Company overview
9.10. Zix Corporation
9.10.1 Company Overview
For more information about this report, visit https://www.researchandmarkets.com/r/udbp2o
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