Cloud-based email to propel APAC SCM market by 2024
In a recent report, research and consulting firm Frost & Sullivan forecast that the Secure Content Management (SCM) market is expected to achieve an 11.4 per cent annual growth rate (CAGR) to reach $2.2 billion in total web and email security revenues by 2024.
According to the report, titled Capabilities Integration Shaping the Asia-Pacific Secure Content Management Market (SCM) Forecast to 2024 , cloud-based deployments are projected to lead growth as more enterprises move their emails to the cloud and rely on the internet, including remote working, especially during COVID-19.
Benefits cloud-based deployment
Malicious email and web links remain the most popular attack vectors in APAC countries, with threats including more advanced and sophisticated targeted phishing emails, business email compromises, and malicious content.
"The addition of multiple functionalities into core capabilities is transforming web and email security options as organisations seek better compatibility with their cloud migration journeys and cost-savings simultaneously," comments Vivien Pua , Industry Analyst, ICT at Frost & Sullivan.
"Various integrations, including data loss prevention (DLP), cloud access security broker (CASB), and email/browser isolation, are blurring distinctions among cybersecurity solutions. The larger but less mature web security market is also benefiting significantly from cloud-based deployment security solutions given their scalability, flexibility, and lower cost."
Pua added that larger enterprises often require dedicated web and email security to effectively detect, prevent, and remediate threats.
"These companies with larger financial resources generally prioritise performance and will opt for standalone solutions or best-of-breed options. Conversely, small and medium businesses (SMBs) are more open to integrated solutions or Software-as-a-Service (SaaS) offerings, which offer them the necessary protection level, despite their limited security budgets."
For further revenue opportunities, cybersecurity vendors should explore these strategic recommendations:
- Assist enterprise customers who are migrating to cloud email by integrating and/or transferring their email security to cloud-based deployments.
- Offer cloud-delivered integrated cybersecurity solutions to meet the business needs of remote workforces.
- Prepare on-premises deployments or hybrid deployment solutions for enterprises reliant on traditional operating procedures or that face regulatory compliance issues regarding on-the-cloud deployments.
- Explore new product development and acquisitions to match the security demands of the current and future threat climate.