Spear Phishing Protection Market By Component (Solutions, Services), By Protection Type (Data Leak Protection, Email Encryption, Multi-Layered Malware Protection, Social Engineering Protection, Zero Day Prevention, Denial of Service Attack Protection, Ransomware Protection), By End-User (BFSI, Defense, Healthcare, Government, Retail, Telecommunication, Media and Entertainment, Transportation, Others) - Growth, Share, Opportunities & Competitive Analysis, 2019 – 2027

Rising incidences of spear phishing attacks has increased the demand for spear phishing protection market.

Globally, the spear phishing protection market is anticipated to grow with a CAGR of 11.60% during the forecast period from 2019 to 2027 and registered a market value of US$ 923.65 million in 2018. Spear phishing is an email or electronic communications scam targeted at an individual, business, enterprise, or organization. The rising digitalization has increased criminal activities, such as stealing data for malicious purposes. In addition, various hackers are hacking critical data from users and selling that confidential information, increasing criminal activities online and increasing the demand for spear phishing protection. 

Spear phishing protection is used as a filter to eliminate unsolicited emails and protect critical information from hackers. Various factors are driving spear phishing protection markets, such as the increasing adoption of cloud email security solutions and rising cyber-attacks in the banking and financial sector, healthcare, defense, and e-commerce/retail sector. Moreover, the rise in internet infiltration worldwide is another major factor driving the market's growth.

Market Synopsis

Spear Phishing Protection with Services in its Component Segment is the Dominating Segment in the Market

In 2018, 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 analytics services to the organizations to understand attacks 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 (2018), and others.

North America Dominates the Market by Region

The global spear phishing protection market was governed by the North American region, having a market share of more than 38.0% in 2018. Increasing digitalization and the rise of internet utilization across the region. Moreover, increasing email security concerns and breaches are some of the major factors driving the market across the region. The U.S. accounts for the largest market share in the North American region due to the presence of advanced technologies, and companies are heavily investing in the spear phishing protection market for the development of various software solutions.

The top factors driving the market growth include:

• Financial instability
• Community issues like poverty
• Bribery and corruption
• The overpopulation growth and use of advanced technology
• Increased cybercrime activities in Asia and Latin America

Key Developments:

• According to the 2019 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 2019, over 80,000 phishing sites were present, with more than 70% of all cyber attacks targeting mainly these sectors: SaaS/webmail, the payment industry, and financial institutions.
• Additionally, Europol freshly unconfined a report attentive on spear phishing; top results show 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 the year 2018. Such enormous loots have incentivized scammers to expand targeted phishing spasms and enlarge their operations.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027. 

Report Scope by Segments

The spear phishing protection market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global spear phishing protection market based on components, protection type, end-users, and geography. Key segments covered in the report are as follows:

SegmentationComponent Segment (2017–2027; US$ Mn)

• Solutions
• Cloud
• Hybrid
• On-Premise
• Services
• Professional
• Managed

 Protection Type Segment (2017–2027; US$ Mn)

• Data Leak Protection
• Email Encryption
• Multi-Layered Malware Protection
• Social Engineering Protection
• Zero Day Prevention
• Denial of Service Attack Protection
• Ransomware Protection

 End-User Segment (2017–2027; US$ Mn)

• BFSI
• Defense
• Healthcare
• Government
• Retail
• Telecommunication
• Media and Entertainment
• Transportation
• Others

 Geography Segment (2017–2027; US$ Mn)

• North America (U.S. and the Rest of North America)
• Europe (U.K., Germany, France, Italy, and the Rest of Europe)
• Asia Pacific (Japan, China, India, and the Rest of Asia Pacific)
• Rest of the World (Middle East & Africa (MEA), Latin America)

Top Players:

• Cisco Systems Inc.
• Votiro Inc.
• IronScales Ltd.
• GreatHorn Inc.
• Check Point Software Technologies Ltd.
• Forcepoint
• Sophos Ltd.
• McAfee LLC
• Barracuda Networks Inc.
• BAE Systems
• RSA Security LLC
• Intel Corporation
• A.O. Kaspersky Lab
• Bitdefender
• Avira Operations GmbH & Co. K.G.

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