The E-commerce Security Market Size is valued at USD 171.7 billion in 2023 and is predicted to reach USD 472.2 billion by the year 2031 at a 13.7% CAGR during the forecast period for 2024-2031.
E-commerce security is the preventive activities and systems put in place to guard online stores and transactions against cyber risks, including fraud, data breaches, and hacking, thereby preserving user confidence in online commerce and the integrity and confidentiality of user data. The expansion of internet and mobile device penetration, the rising popularity of shopping on online platform as a result of its ease and extensive product variety, and the development of better payment and shipping services are the main factors propelling the e-commerce security industry forward. Further factors fueling the market’s meteoric rise and worldwide expansion include rising consumer awareness of data privacy and growing threats.
Moreover, the growth of E-commerce security in this sector is being driven by government initiatives and investments in security technology. In addition, the market is anticipated to be propelled by increased government investments in research & development to optimize better e-commerce market growth.
However, the market growth is hindered by obstacles such as data privacy worries, expensive implementation expenses, a shortage of trained experts, and problems with regulation and compliance. Additionally, the industry for e-commerce security was greatly impacted by the COVID-19 epidemic because it hastened the transition to online purchasing, making people more susceptible to cyberattacks. In order to safeguard growing online transactions and consumer data from increasing cyberattacks, this change required stronger security measures. Moreover, global markets expanded during the coming years due to technological developments, widespread adoption of digital platforms, and enhanced government operations cybersecurity by detecting and responding to threats.
Competitive Landscape
Some Major Key Players In The E-commerce Security Market:
- Symantec
- McAfee
- IBM Security
- Cisco Systems
- Check Point
- Fortinet
- Palo Alto Networks
- F5 Networks
- Akamai Technologies
- VeriSign
- Entrust
- GlobalSign
- DigiCert
- Comodo
- Trustwave
- Other Market Players
Market Segmentation:
The E-commerce security market is segmented based on type, application, solution, and end-user. Based on type, the market is segmented into network security, application security, endpoint security, cloud security, and payment security. The application category is segmented into retail, travel & tourism, healthcare, banking & financial services, and government. By solution, the market is segmented into intrusion detection systems (IDS), encryption, firewalls, multi-factor authentication (MFA), and anti-malware solutions. By end-users, the market is segmented into B2B and B2C.
Based On The Type, The Cloud Security Segment Is Accounted As A Major Contributor To Thee-Commerce Security Market
The cloud security E-commerce security market is expected to lead with a remarkable global market share because e-commerce platforms have widely adopted cloud computing. The need for scalable, adaptable, and reasonably priced security solutions that can effectively shield cloud data and transactions from growing cyber threats and breaches is driving this expansion. Additionally, government processes are being modernized with the help of e-commerce, which is driven by the need to handle increasing data volume, the requirement for digital transformation, and the industry's overall market growth.
Banking & Financial Services Segment To Witness Growth At A Rapid Rate
The banking & financial services segment is projected to grow rapidly in the global E-commerce security market because of the growing number of financial transactions conducted online and the urgent necessity to safeguard private financial information. Additionally, the need for strong security solutions to stop fraud, data breaches, and other security issues is growing as cyber threats change. Additionally, the industry’s adoption of advanced security solutions is driven by regulatory compliance requirements. This boosts their efficiency and competitiveness in the market, especially in countries like the US, Germany, the UK, China, and India.
In The Region, The North American E-Commerce Security Market Holds A Significant Revenue Share
The North American E-commerce security market is expected to register the highest market share in comming years. This is a result of stricter data privacy laws, more cyber threats, favorable regulations, and an increase in online buying. Furthermore, the region's top security solution suppliers help to propel market growth further. In addition, Europe is projected to grow very fast in the E-commerce security market because of rising internet usage, rising consciousness of cybersecurity risks, stronger regional regulatory frameworks, and an increase in e-commerce activity, and the trend toward digitalization will boost the market's growth.
Recent Developments:
- In November 2024, IBM unveiled Autonomous Security for Cloud (ASC), an AI-powered solution from IBM Consulting that helps enterprises speed up their cloud journey on Amazon Web Services (AWS) settings by automating cloud security monitoring and decision-making.
- In July 2024, The world-renowned internet security company McAfee Corp. extended its ten-year collaboration with Samsung, allowing for better defence against online dangers to customers’ privacy, identity, and personal data.
E-commerce Security Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 171.7 Bn |
|
Revenue Forecast In 2031 |
USD 472.2 Bn |
|
Growth Rate CAGR |
CAGR of 13.7% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, Application, Solution, And End-User. |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Symantec (Norton E-commerce Security), McAfee (McAfee E-commerce Security), IBM Security (IBM QRadar), Cisco Systems (Cisco Web Security), Check Point (Check Point Threat Prevention), Fortinet (Fortinet FortiWeb), Palo Alto Networks (Palo Alto Networks Next-Generation Firewall), F5 Networks (F5 BIG-IP), Akamai Technologies (Akamai Web Security), VeriSign (VeriSign Trust Seal), Entrust (Entrust SSL/TLS), GlobalSign (GlobalSign SSL/TLS), DigiCert (DigiCert SSL/TLS), Comodo (Comodo SSL/TLS), and Trustwave (Trustwave Secure Web Gateway). |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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