July 21, 2024
SMS Firewall Market
Ict

SMS Firewall Market Is Projected To Driven By Rising Mobile Malware Threats

SMS firewalls offer protection against SMS-based phishing attacks, spam, and malware. By screening and filtering inbound and outbound SMS traffic, SMS firewall solutions can detect and block malicious or unwanted SMS messages before they reach end users. Some key features of SMS firewalls include two-factor authentication, geo-location filtering, keyword blocking, scheduled messaging, and reporting and analytics.

Growth in mobile malware and phishing attacks targeting mobile users have prompted many organisations to invest in SMS firewall solutions to safeguard their communication networks and sensitive data. As businesses expand their mobile workforce and allow greater BYOD flexibility, there is an increasing need to prevent mobile threats and ensure only verified and legitimate communication reaches employees.

The global SMS Firewall Market is estimated to be valued at US$ 2350.4 Mn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the SMS firewall market is the shift towards cloud-based SMS firewall solutions. Traditional on-premise SMS firewall infrastructure requires high upfront capital costs and ongoing maintenance. Cloud-based SMS firewall offerings provide a more cost-effective and scalable alternative to meet the dynamic communication security needs of organisations. Cloud deployment allows real-time filtering of SMS traffic and immediate updates of changing threats or regulatory requirements without any downtime. Leading vendors are focusing on developing advanced SMS filtering, two-factor authentication, and analytics capabilities in their cloud-based SMS firewall solutions to gain market share.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as significant capital requirements are needed to establish SMS filtering infrastructure and security certifications. However, major tech companies pose a threat with their existing resources.

Bargaining power of buyers: The bargaining power of buyers is high given the availability of substitutes. Buyers can switch to alternative messaging platforms if not satisfied with service or pricing of SMS firewall providers.

Bargaining power of suppliers: The bargaining power of suppliers is low as SMS firewall providers have many technology partners to choose from to power their filtering capabilities.

Threat of new substitutes: The threat of new substitutes is high as communication apps like WhatsApp and Skype provide free alternative channels for messaging. These substitutes threaten the viability of traditional SMS.

Competitive rivalry: The competitive rivalry is high among existing players due to their focus on pricing, features and customer experience. Major players aim to gain market share through continuous upgrades.

Key Takeaways

The Global SMS Firewall Market Growth is expected to witness high over the forecast period supported by the proliferation of messaging protocols amid heightened security needs. The global SMS Firewall Market is estimated to be valued at US$ 2350.4 Mn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030.

Regional analysis: North America dominates the SMS firewall market driven by strict regulatory environment pertaining to data privacy. The US and Canada have imposed laws on enterprises to implement robust firewalls to protect customer information transmitted over public networks. Asia Pacific is anticipated to showcase the fastest growth on back of rapid digitalization and emerging security threats across various industry verticals in the region including BFSI, healthcare and e-commerce.

Key players: Key players operating in the SMS firewall market are EverZinc, S. Zinc, Numinor Chemical Industries Ltd., Hanchang, Silox India Private Limited, Metal Powder Company Limited (MEPCO), Toho Zinc Co., Ltd., Hakusui Tech Co., Ltd., Pars Zinc Dust Manufacturing Co. (PZD), and Jiangsu Shenlong Zinc Industry Co., Ltd. These players focus on strategic partnerships and new service offerings to maximize revenues.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it