The global Business Email Compromise (BEC) market size is expected to reach USD 4.79 Billion at a steady revenue CAGR of 19.4% in 2030, according to latest analysis by Emergen Research. Growing scale of business email compromise scams and spear phishing attacks is a major factor driving market revenue growth. Business Email Compromise (BEC), is a type of phishing scam, in which an executive's email account is impersonated or compromised to trick the victim into starting a wire transfer or disclosing critical information. Social engineering and spear phishing are key components of this attack, which frequently targets individuals who manage sensitive company information, conduct purchases, or have other fiduciary responsibilities. BEC schemes frequently begin with a phishing email designed to gain unauthorized access to the account of targeted employee. Attacker can send the targeted employee a number of emails to establish a rapport of trust. These emails typically do not have links or attachments, but they nevertheless provide a risk as they give the attacker access to internal sources. Scammers can ask about payments or personal information while posing as reputable suppliers or workers, while employees will get emails or phone calls from scammers using embedded contact lists, building their trust.
The most current market research report from Emergen Research, which focuses on the global Business Email Compromise market, provides in-depth analysis of each of the market's major segments. The research on the global Business Email Compromise market includes information on market size, revenue growth rate, industry data, revenue splits by regional markets, gross margins, production costs, and product portfolios. The report also highlights a number of other micro- and macroeconomic factors, including the most important drivers, opportunities, trends, difficulties, supply and demand ratios, production and consumption patterns, stringent regulatory frameworks, and a wide range of other factors.
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Global Business Email Compromise Market Highlights:
Regional demand estimation and forecast
Product Mix Matrix
R&D Analysis
Cost-Benefit Analysis
Pre-commodity pricing volatility
Supply chain optimization analysis
Technological updates analysis
Raw Material Sourcing Strategy
Competitive Analysis
Mergers & Acquisitions
Location Quotients Analysis
Carbon Footprint Analysis
Patent Analysis
Vendor Management
Competitive Landscape:
The latest study provides an insightful analysis of the broad competitive landscape of the global Business Email Compromise market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Business Email Compromise market and pinpoint the fundamental growth trends.
Key Companies Profiled in the Report are:
Proofpoint, Mimecast Services Limited, Check Point Software Technologies Ltd., Cisco Systems, Inc., Broadcom, Fortra, LLC, Trend Micro Incorporated, Zix Corporation, Barracuda Networks, Inc., and GreatHorn, Inc
Key Parameters Analyzed in This Section:
Company Profiles
Gross Revenue
Profit margins
Product sales trends
Product pricing
Industry Analysis
Sales & distribution channels
Regional Segmentation:
North America
Latin America
Europe
Middle East & Africa
Asia Pacific
Key Points Covered in This Section:
Regional contribution
Estimated revenue generation
Vital data and information about the consumption rate in all the leading regional segments
An expected rise in market share
Forecast growth in the overall consumption rate
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Some Key Highlights From the Report
On 25 February 2020, Proofpoint, Inc., a leading cybersecurity and compliance company released the first integrated, end-to-end solutions to address Business Email Compromise (BEC) and Email Account Compromise (EAC) attacks. These solutions combine Proofpoint's top secure email gateway, advanced threat protection, threat response, email authentication, security awareness training, and cloud account protection. In addition, Proofpoint announced a number of improvements to its Proofpoint Cloud App Security Broker (CASB) to protect cloud applications that employees use on a daily basis, including Amazon Web Services, Box, Google G Suite, Microsoft Office 365, and Slack. This will aid organizations in thwarting sophisticated cyberattacks that use both email and cloud vectors.
The solutions segment is expected to lead in terms of revenue share in the global market over the forecast period. Use of BEC solutions has a number of advantages such as ability to dynamically detect and block specific corporate email intrusion types, recognize a variety of BEC tactics including use of fictitious supplier domains and compromised supplier accounts, notify recipients of email's source, tag any external emails, assess the urgency of an email by looking at its header, sender's IP, reputation, and other data, use advanced BEC defense, and utilize a detection engine based on Machine Learning (ML).
The on-premises segment is expected to account for large revenue share over the forecast period. On-premises is a more traditional alternative, in which emails are sent, received, and archived on real servers located on-premises. These servers are frequently owned and run by domain owner. For instance, government organizations favor internal servers over external servers controlled by external services. This is particularly true for larger businesses or organizations that have serious security issues. Most of this internal server's housing is on-site.
The Banking, Financial Service, and Insurance (BFSI) segment is expected to account for large revenue share over the forecast period owing to increasing need for BEC solutions. A successful callback procedure can help stop these scams in their tracks. Business Email Compromise (BEC) is still a common technique used by competent hackers to steal substantial sums of money from businesses of all kinds. New payment requests, requests to open new bank accounts, modifications to payment instructions, and changes to contact information all require a call from an employee, typically a member of payments team. Any losses arising from payments made using the security credentials of authorized users or those of other individuals with designated transaction authorization are the responsibility of commercial banking clients.
The North America market is expected to account for largest revenue share during the forecast period, which is attributed to increasing BEC related crimes in countries in this region. For instance, on November 18, 2022, the U.S. Department of Justice announced charges against 10 defendants in several states in connection with a number of Business Email Compromise (BEC), money laundering, and wire fraud schemes that were targeted at Medicare, state Medicaid programs, private health insurers, and numerous other targets and resulted in losses totaling over USD 11.1 million. The accusations mainly stem from BEC schemes, in which people pretending to be business partners are accused of defrauding victims by deceptively transferring money from their bank accounts into accounts they or their conspirators controlled (sometimes by hiring ‘money mules’) using spoofed email addresses, bank account takeovers, and other deceptive techniques to make victims believe they were sending genuine payments.
Market Overview:
The report bifurcates the Business Email Compromise market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Offering Outlook (Revenue, USD Million; 2019–2030)
Solutions
Services
Deployment Mode Outlook (Revenue, USD Million; 2019–2030)
Cloud
On-Premises
Vertical Outlook (Revenue, USD Million; 2019–2030)
BFSI
Government
IT & ITES
Energy & Utilities
Healthcare
Retail & E-Commerce
Manufacturing
Other Verticals
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Additional information offered by the report:
Along with a complete overview of the global Cobots market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
The report elaborates on the global Cobots market size and share governed by the major geographies.
It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
It further presents a detailed description of the company profiles of the key market contenders.
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