Short Message Service (SMS) Firewall Market
Countering SMS illicit practices such as SMS spoofing, SMS phishing, and SMS spamming drives the growth of the short message service (SMS) firewall market size.
PORTLAND, PORTLAND, OR, UNITED STATES, July 28, 2023/EINPresswire.com/ — According to the report, the global short message service (sms) firewall market generated $2.5 billion in 2021, and is anticipated to generate $5.7 billion by 2031, witnessing a CAGR of 9.2% from 2022 to 2031.
The growing A2P messaging congestion, rise in the adoption of application-to-person messaging, the increased privacy and security concerns among users, the trend of mobile marketing through SMS, and the demand for next-generation SMS firewalls drive the growth of the global short message service (sms) firewall industry.
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However, a lack of technological knowledge among users, and the rise in the number of cyberattacks restrict the market growth. Moreover, major market players are undertaking various strategies to increase the competition and offer enhanced services to their customers, which is presenting new opportunities in the coming years.
Covid-19 Scenario:
• The outbreak of the Covid-19 pandemic had a negative impact on the global short message service (sms) firewall market, owing to the implementation of the global lockdown.
• Several companies instituted remote working for their workers to follow the social distancing norms and reduce the spread of coronavirus. These remote working conditions necessitated increased data protection, thereby boosting the demand for short message service (sms) firewall.
• Moreover, rise in cyber-attacks during COVID-19 positively affected short message service (SMS) firewall market.
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Based on deployment mode, the on-premise segment held the highest market share in 2021, accounting for nearly three-fifths of the global short message service (sms) firewall market, as it provides added security of data. However, the cloud segment is projected to manifest the highest CAGR of 11.2% from 2022 to 2031, and is estimated to maintain its leadership status throughout the forecast period, as cloud provides flexibility, scalability, complete visibility and efficiency of all processes.
Based on end user, the IT and Telecom segment accounted for the largest share in 2021, contributing to nearly one-fourth of the global short message service (sms) firewall market. This is due to high adoption rate of SMS firewall for enhanced security. However, the retail and e-commerce segment is expected to portray the largest CAGR of 13.7% from 2022 to 2031, and is projected to maintain its lead position during the forecast period, owing to a surge in the online marketing platforms.
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Based on component, the platform segment held the highest market share in 2021, accounting for around two-thirds of the global short message service (sms) firewall market, and is estimated to maintain its leadership status throughout the forecast period, as the SMS firewall platforms use advanced technology to address messaging threats and security. However, the services segment is projected to manifest the highest CAGR of 10.8% from 2022 to 2031, owing to a surge in SMS application users.
Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global short message service (sms) firewall market, and is likely to dominate the market during the forecast period, owing to the growing technological trends in security in the region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 12.0% from 2022 to 2031, owing to the ongoing digital and economic transformation of the region.
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