SMS firewall is a software solution that protects communication networks and endpoints from unauthorized and unsolicited messages. SMS firewall screens all incoming and outgoing SMS traffic to detect and block spam, phishing, spoofing, and other malicious messages in real-time. It guarantees privacy and security for enterprises and consumers through advanced techniques like deep packet inspection, AI/ML-based behavioral analytics, reputational databases, and dynamic blacklists. The global SMS firewall market opportunity lies in providing robust security against the evolving threats in the SMS channel to safeguard customers and establish trust.
The global SMS Firewall Market is estimated to be valued at US$ 2350.4 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The key opportunity for the SMS firewall market is to prevent SMS spoofing and spam. Spoofing allows attackers to mask their real identity and location to conduct fraudulent activities like phishing and stealing sensitive information from victims. As cybercriminals increasingly exploit SMS as an attack vector, advanced SMS firewall solutions with robust anti-spoofing capabilities can thwart these threats and ensure a secure communication experience. With features like real-time tracing of spoofed messages to their origin, IP reputation analysis, and AI-driven predictive monitoring, SMS firewall vendors can offer fortified protection against SMS spoofing risks and capitalize on the growing need to secure mobile networks from such modern dangers.
Porter's Analysis
Threat of new entrants: Low capital requirements pose a moderate threat of new entrants in the SMS firewall market. However, established players dominate with strong brand identity and economies of scale.
Bargaining power of buyers: Buyers have moderate bargaining power as there are a fair number of established SMS firewall providers to choose from. However, switching costs are low.
Bargaining power of suppliers: Suppliers of technology and infrastructure have low bargaining power due to the presence of several options available to SMS firewall providers.
Threat of new substitutes: Threat from substitutes is low as SMS firewalls fulfill a distinct need for mobile security that no alternative can replicate yet.
Competitive rivalry: High as it is a growing yet mature market with many global and regional players competing on technology, features, pricing and customer support.
SWOT Analysis
Strengths: Growing mobile messaging traffic and security threats drives demand. Ability to block spam, detect fraud and ensure compliance.
Weaknesses: On-premise solutions require technical skills and resources for management. Traditional firewalls cannot analyze unstructured SMS content.
Opportunities: Integration with other security tools and move to the cloud model. Growing SMS usages in banking, healthcare and other regulated industries.
Threats: Competition from unified communication platforms and constant evolvement of new hacking techniques. Vulnerabilities in third-party application integrations.
Key Takeaways
The Global SMS Firewall Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The growing mobile messaging traffic is driving demand for dedicated security solutions. The global SMS Firewall Market is estimated to be valued at US$ 2350.4 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.
b North America dominates currently due to stringent regulatory norms and an evolved mobile ecosystem. Asia Pacific is expected to grow at the fastest pace led by countries like India and China adopting mobile banking and payments at a rapid rate. Security requirements are increasing accordingly.
Key players: Key players operating in the SMS firewall market are SAP SE (Germany), Tata Communications (India), Anthropic (US), Twilio (US), BICS (Belgium), AMD Telecom (Greece), Symsoft (Sweden), Infobip (UK), Global Wavenet (Australia), Mobileum (US), Defne (Turkey).
Get More Insights Here
https://www.trendingwebwire.com/sms-firewall-market-size-share-growth-outlook-2023/
Comments
0 comment