PUBLISHER: Acute Market Reports | PRODUCT CODE: 1184735
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1184735
Globally, the spear phishing protection market is anticipated to grow with a CAGR of 11.60% during the forecast period from 2022 to 2030 and had registered a market value of US$ 923.65 million in 2021. Spear phishing is defined as an email or electronic communications scam which has been targeted to an individual, business, enterprises or organization. The rising digitalization has increased criminal activities such as stealing data for malicious purposes. Various hackers are hacking the critical data from the users and sell that confidential information which is increasing the criminal activities online which is increasing the demand for spear phishing protection.
Spear phishing protection is used as a filter to eliminate or place unsolicited emails and also provides protection towards critical information from hackers. There are various factors that are driving the spear phishing protection markets such as increasing adoption of cloud email security solutions, rising cyber-attacks in the banking and financial sector, healthcare, defense, and e-commerce/retail sector, and others. Moreover, the rise in internet infiltration worldwide is another major factor that is driving the growth of the market.
In 2021, the services segment led the overall spear phishing protection market generating more than 60.0% of the total market value. This is attributed to the early adoption of these services over the solutions. Moreover, these services also provide data visualization and data analytics services to the organizations to understand the attacks made on an organization or an end-user.
Spear phishing attacks example include, the RSA Attack (2011), Sony Pictures (2014), U.S Department of Energy Attack, Anthem Medical data breach, email marketing services company Epsilon breach, targeting Airbnb customers (2020) and others.
The global spear phishing protection market was governed by the North American region having a market share of than more 38.0% in the year 2021. Increasing digitalization and the rise of the utilization of the internet across the region. Moreover, increasing e-mail security concerns and breaches are some of the major factors driving the market across the region. The US accounts for the largest market share in the North America region due to the presence of advanced technologies and companies are heavily investing in spear phishing protection market for the development of various software solutions.
According to 2021 IBM X-Force Threat Intelligence Index Report, phishing and malware will continue to be unremitting threats. The Anti-Phishing Working Group (APWG) reported that from July to September 2021, over 80,000 phishing sites were present, with more than 70% of all cyber attacks targeting mainly thses sectors: SaaS/webmail, payment industry and financial institutions.
Additioanlly, Europol freshly unconfined a report attentive on spear phishing, top results show that the there is an increase in phishing websites number, and has touched new levels. Europol discovered that more than 65 percent of cyber attacks comprised spear phishing as the prime infection source.
According to a news report, spear phishing and business email compromise are giant businesses, with business email compromise fraud costing overall United States businesses more than US$1.2 billion in year 2020. Such enormous loots have incentivized scammers to expand targeted phishing spasms and enlarge their operations.
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Spear Phishing Protection market are as follows:
Micro and macro environment factors that are currently influencing the Spear Phishing Protection market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Component
Solutions
Cloud
Hybrid
On-Premise
Services
Professional
Managed
Protection Type
Data Leak Protection
Email Encryption
Multi-Layered Malware Protection
Social Engineering Protection
Zero Day Prevention
Denial of Service Attack Protection
Ransomware Protection
End-User
BFSI
Defense
Healthcare
Government
Retail
Telecommunication
Media and Entertainment
Transportation
Others
Region Segment (2020-2030; US$ Billion)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Global Impact of COVID-19 Segment (2020-2021; US$ Billion )
Pre COVID-19 situation
Post COVID-19 situation