Business Email Compromise Market size expected to hit USD 3.96 Bn by 2029 from USD 1.15 Bn in 2022 at a CAGR of 19.3% during the forecast period
Business Email Compromise Market Overview
The Business Email Compromise Market research identifies industry-specific challenges, opportunities, and technological advancements that can help Business Email Compromise key competitors increase revenue and growth. Market research Business Email Compromise covers present and emerging trends that are influencing the development of the market for which the data was collected by using primary and secondary research methods.
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Business Email Compromise Market Report Scope and Research Methodology
The report provides a detailed analysis of the Business Email Compromise market size and share at global and regional levels. It covers the Business Email Compromise market's most recent revenue and trends. It provides Business Email Compromise market overview, definition, and structure, as well as preventative and pre-planned management. Geographically, the report is segmented into several key countries, with market size, growth rate and import and export of Business Email Compromise market. It focuses on the factors that affect the Business Email Compromise market, such as gross margin, cost, market share, capacity utilization, and supply. The report provides an analysis of the major players in the Business Email Compromise market in terms of their size, share, growth, revenue, production volume, and profitability. The research includes the growth strategies that are being used by Business Email Compromise key players, including strategic alliances and so on. The competitive landscape is a significant feature of the Business Email Compromise industry that all key stakeholders in the industry look for.
Business Email Compromise Market Regional Insights
In the regional and country sections, a detailed analysis of the factors influencing the Business Email Compromise market growth and changes in market regulation that impact current and future market trends are also discussed. Consumption quantities, manufacturing sites and volumes, import-export analysis, price trend analysis, cost of raw materials, and downstream and upstream value chain analysis are some of the major indicators used to forecast Business Email Compromise market conditions for each country.
Business Email Compromise Market Segmentation
The business email compromise market is anticipated to have the greatest revenue share in the cloud category. Cloud security is a group of tools, services, policies, and procedures created especially to guard against phishing attacks on infrastructure and data. To preserve data privacy, major enterprises are implementing cloud technologies. Organizations can safeguard their data by using multi-factor authentication, cloud encryption, password managers, and the notion of limiting who has access to certain technologies. These advantages of cloud computing are anticipated to fuel the sector's expansion in the business email compromise market. Instead of relying on on-premise deployment, several Business Email Compromise Key Companies are building their security solutions based in the cloud.
Given that phishers typically use business email compromise to target large enterprises, the large enterprise segment is anticipated to have the largest market share. The majority of labor in every field may now be done remotely, and phishing poses the greatest risk for remote employment. These considerations are causing the business email compromise service providers industry to see growth in the major enterprise segment.
Over the forecast period, the BFSI sector is anticipated to hold the biggest market share. The security of the fund in financial institutions is anticipated to be greatly concerned by the fraud risks in the BFSI. Fraud risks should rise along with the banking and financial sector's expansion. Due to these factors, businesses are increasingly using Business Email Compromise Solutions to lessen phishing attacks. These elements are anticipated to fuel the BFSI segment's expansion in the market for business email compromise.
Business Email Compromise Market Size and Forecast, by Types of Scams (2022-2029)
1. Data Theft
2. False Invoice Scheme
3. CEO fraud
4. Lawyer Impersonation
5. Accounts Compromise
Business Email Compromise Market Size and Forecast, by Offering (2022-2029)
1. Solutions
2. Services
3.3. Business Email Compromise Market Size and Forecast, by Deployment Mode (2022-2029)
3. Cloud
3. On-Premise
Business Email Compromise Market Size and Forecast, by Applications (2022-2029)
1. BFSI
2. Government
3. IT & ITeS
4. Energy and Utilities
5. Manufacturing
6. Retail and eCommerce
7. Healthcare
8. Other Applications
Business Email Compromise Market Size and Forecast, by Organization Size (2022-2029)
1. SMEs
2. Large Enterprises
Business Email Compromise Market Size and Forecast, by Region (2022-2029)
1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. South America
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Business Email Compromise Market Key Players
1. Agari Inc.
2. Armorblox Incorporation
3. Abnormal Security Inc.
4. Area 1 Security Incorporation
5. Barracuda Networks Incorporation
6.Broadcom Corporation
7.Clearswift GmbH
8. Cisco Inc.
9.Check Point Inc.
10.Fortinet Corporation
11. GreatHorn Incorporation
12.Heimdal Security Solutions Company Ltd.
13. IRONSCALES
14. Mimecast Limited
15. Proofpoint Inc.
16. PhishLabs Corp.
17. Trend Micro Inc.
18.Tessian Corp.
19.Terranova Security
20.Trustifi Inc.
21.ZeroFox Company
22. Zix Corporation
23.Avanan
24. Cofense
25. Vade
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Key Questions answered in the Business Email Compromise Market Report are:
- What is Business Email Compromise?
- What is the CAGR of the Business Email Compromise market during the forecast period?
- What is the expected Business Email Compromise market size by 2029?
- Which segment held the largest Business Email Compromise market share in 2022?
- What is the competitive scenario of the Business Email Compromise market?
- What are the main factors driving the growth of the Business Email Compromise market?
- Which region has the maximum Business Email Compromise market share?
- Who are the major players in the Business Email Compromise market?
Key Offerings:
- Market Overview
- Market Share
- Market Size
- Forecast by Revenue | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments, sub-segments and region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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A spear phishing hacking group, working out of the United Kingdom and Nigeria, has been using business email compromise (BEC) scams and have stolen more than $12 million.
This group targeted small and midsize businesses from various industry groups such as manufacturers, hotels, universities, cloud service operators, and so on.
BEC scams have caused more than $12 billion in losses since 2013, and the threat is increasing in terms of exposed losses.
The destination banks are usually located in China, Hong Kong, UK, Mexico, and Turkey.
Scammers use the IRS W-2 forms and other Personally Identifiable Information (PII) requests to build their campaigns.
Year-end enrollment is one of major sources of PII requests.
