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Tuesday 28 Apr 2020 , 2:43 pm

It’s High Time to Keep Social Media Accounts Safe

The increasing engagement on social media platform is one of the main factors that are driving the global social media security market. Plus, initiatives taken by governments of many countries are also having a positive impact on the growth of the social media security market.
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The World is witnessing the presence of social media as half of the population is using social media platforms these days. This is a new virtual way to connect with each other or express opinions or showcase creativity. Plus, availability of affordable smartphones and easy access of internet have a significant impact on rising social media accounts. On the other side, in the era of lockdown caused by coronavirus outbreak, engagement rate on these platforms is increasing. That’s why many companies are focusing on the social media marketing strategies to sell their products/services.

Sometimes, adoption of social media platforms leads to the new devastating attacks such as phishing, shortened URLs, threatening, fraudulent, and others. Threat actors use interconnectivity of digital platforms to increase their reach by using various channels to distribute conduct fraud, malware, and to carry out other harmful activities.

To overcome these issues, venders are offering solution that leverages sophisticated machine learning (ML) techniques and automation to not only detect but also prevent social media threats.

The increasing engagement on social media platform is one of the main factors that are driving the global social media security market. Also, the governments of many countries are taking initiatives to protect public data and increasing security on social platforms by implementing many regulations such as General Data Protection Regulation (GDPR), Payment Card Industry Data Security Standard (PCI DSS), and others. These governments’ initiatives are also having a positive impact on the growth of the market.

Companies such as, CA Technologies (A Broadcom Company), Digital Shadows Ltd., Micro Focus, ProofPoint, and RiskIQ are already active in the social media security market.

Various companies in the market are focusing on organic growth strategies such as product launches, approvals, patents and events etc. In last quarter of 2019, ZeroFOX announced the launch of ZeroFOX OnWatch, a managed protection and monitoring service, designed to help companies to safeguard against threats plaguing a wide range of platforms including , the surface web, deep and dark web, social media and digital platforms, and mobile app stores.

“The threat landscape across social and digital platforms is evolving faster than businesses can keep up with, and it’s forcing teams to rethink how they’re protecting their brand reputation, employees, customers and data,” said James C. Foster, CEO and Co-founder of ZeroFOX. “As the category leader in social media and digital security, ZeroFOX OnWatch will provide the same level of protection that our platform customers trust and respect, while bringing a unique managed service capability to the table to ensure an expert security team can react quickly and accurately to modern threats plaguing organizations.”

One the other side, some companies are performing inorganic growth strategies activities such as mergers, acquisitions, partnerships, and collaborations. In February, SafeGuard Cyber announced a new collaboration that integrates Micro Focus' Content Manager with SafeGuard's NextGen Compliance platform. The new connector is included with the release of Micro Focus Content Manager, version 9.4.1.

"We've seen consistently high demand across our customer base for a solution that captures social media and digital content into Content Manager for record-keeping and regulatory compliance requirements," stated David Gould, Worldwide Senior Director of Secure Content Management Solutions, Micro Focus. "We're pleased to work with SafeGuard Cyber to extend the use of Content Manager and help our customers address business-critical digital needs."

It has been witnessed that these activities have paved way for the expansion of business as well as customer base of companies. Research report by The Insight Partners states that the players active in the market will have a lucrative growth of opportunities in the coming years due to the linearly rising demands for social media security in the global market.

Neha Mule

Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.

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