Sms Firewall Market Is Estimated To Witness High Growth Owing To Rising Cyber Threats
The Sms Firewall market is estimated to be valued at US$ 2,350.4 Mn in 2023 and is expected to exhibit a CAGR of 9.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Sms Firewall is a solution that helps companies and organizations protect themselves from spam and fraud SMS messages while allowing legitimate business communication to pass through. It prevents SMS spoofing and filtering spam, phishing and malware links in text messages. Sms firewalls are widely adopted across industries like banking, finance, healthcare to secure mobile communication and block fraudulent transactions and data theft.
Market Dynamics:
The growth of the Sms Firewall market is supported by rising cyber threats targeting mobile networks and platforms using sms. Numerous incidences of sms frauds involving identity thefts, financial data breaches have been reported in recent years. This has propelled organizations to strengthen their mobile security infrastructure with solutions like Sms firewalls. Additionally, rapid digital transformation and transition to mobile-first business models have amplified the attack surface for cybercriminals. The evolution of networking technologies 5G and rapid proliferation of IoT devices are further fueling the need for advanced Sms screening solutions to protect networks from malicious actors and ensure safety of confidential customer information being transmitted over sms.
SWOT Analysis
Strength: SMS firewalls help secure communication and block spam and fraudulent messages. They offer three layers of protection - filtering, monitoring and blocking unwanted messages. SMS firewall solutions identify and block SMS messages that contain threats, malware or spam.
Weakness: Traditional firewalls cannot detect SMS-based threats. SMS messages use different protocols than traditional internet traffic so require specialized firewall solutions. Small businesses may find commercial SMS firewall solutions too expensive.
Opportunity: Growing mobile malware and rising instances of SMS phishing scams are prompting more organizations to adopt SMS firewall solutions. telecom operators and MNOs are recognizing the need for SMS-based security and offering firewall services.
Threats: Free or low-cost SMS firewall apps have limited filtering capabilities. Advanced persistent threats can sometimes bypass even commercial firewalls. Regulations around SMS spam may vary in different regions.
Key Takeaways
The global Sms Firewall Market Growth is expected to witness high growth, exhibiting CAGR of 9.9% over the forecast period, due to increasing mobile malware threats and growth in fraudulent SMS-based activities. SMS spam and phishing attempts rose sharply over the last few years, prompting more businesses and consumers to invest in protection.
Regional analysis: North America dominated the SMS firewall market in 2023, accounting for around 30% share. However, Asia Pacific region is expected to grow at the fastest pace owing to rising mobile adoption, increasing digitization and growing awareness about SMS-based threats in countries like China, India and Japan.
Key players: Key players operating in the SMS firewall market are Tango Telecom,SAP SE,Tyntec,Infobip,Symantec Corporation,Acronis International GmbH,Fortinet, Inc.,Arbor Networks, Inc.,Cisco Systems, Inc.,Trend Micro Incorporated. Tier 1 players are focused on enhancing their SMS filtering capabilities through AI/ML and expanding their footprint into developing markets.
For more details on the report, Read- https://cmiinfopiece.blogspot.com/2023/12/5g-is-fastest-growing-segment-fueling.html
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