Regardless of a company’s size or income, the most recent research study offers an exhaustive analysis of the Phishing Protection market for 2023–2032. This survey study discusses the key market trends and the industry’s outlook for the forecast years.
Global Phishing Protection Market presents a variety of new trends that have a significant impact on market growth dynamics as well as the most recent industry knowledge. According to the most recent projection, global growth will reach its lowest point this year at 2.8% before edging up to 3.0% in 2024. Although more slowly than expected, the rate of global inflation will drop from 8.7% in 2022 to 7.0% this year and 4.9% by 2024. Notably, growth rates for emerging markets and developing economies have increased significantly in many cases, from 2.8 percent in 2022 to 4.5% this year.
Global Phishing Protection Market Size – Industry Trends & Forecast Report 2027
The Global Phishing Protection market size was calculated to be USD $$ billion in 2020 and is expected to take a rise at a CAGR of $% till 2027 with a calculated value of USD $$ till the forecast year. The market’s growth is credited to the industries’ increasing adoption of the IT structure and online networking. Which would be evident in the forecast period.
Request To Download Free Sample of This Strategic Report @https://reportocean.com/industry-verticals/sample-request?report_id=BWCC13
Global Phishing Protection Market Overview
Phishing protection is the security measure taken by industries, companies, institutions, firms, households, to prevent the “phishing attacks”. Phishing is a form of cyber-crime, which gets to its prey (individuals) through the medium of email, telephone, or text message. The predator or the individual poses as someone else, mostly as a legitimate body to lure in prey/individuals. To get sensitive personal or financial data, such as bank & credit card details, identity card (used for identity theft), pin codes & passcodes, residential & work address, etc. The obtained information is then used to access important accounts, cards’ details, passwords, social security numbers, etc. Leading to access to important accounts, databases, cards’, etc. resulting in financial loss, identity theft, loss & theft of personal or professional data.
Global Phishing Protection Market Forecast and Trends
Growth Drivers
Third world economies taking a rise in the market
A rise in the third worlds’ economies would drive the market expectedly as the investments made for the development of IT infrastructure are taking place in full swing. Because of the growing incidences of cybercrimes and cyber-attacks in countries such as India, China, Japan, and many South American regions. Furthermore, MEA (the Middle East and Africa) and South America are forecast to elevate the market for phishing protection. As the market across North America and Europe is mature then a more stable growth is much expected from these regions.
The surge in adoption of digitalization in the industry
Since the wave of digitization took place, everything and multiple sectors of labored works got compact and easier to access. The reason for it being is the fact that digitalization makes calculations, data entry & collection, etc. work faster and efficiently. However, the increase in phishing attacks via email and social media has surged. Leading to the loss or compromise of corporate secrets and financial loss. Therefore, the application of phishing protection is done, removing, and protecting confidential information from all unauthorized, and unspecified, untrusted access in the systems. As per IBM’s Cost of Data Breach Report, the average cost of a data breach is 3.88 million USD, in which 90% of data breaches account for phishing. The phishing attacks in Webmail and Online Services have increased from 12% to 26% in the past few years. The indicated increase in the number shows that there is a great demand for anti-phishing solutions, and this drives the market. The new coming age of IoT, better & faster network connectivity options, high-end software as well as hardware devices, all of this is the outcome of digitalization. Which would be considerable growth in the projected period of the relevant market.
Restraint
Absence of relevant knowledge and understanding of Cyber threats and terrorism
As the market is kept on growing, the requirement for suitable candidates and operators is increasing too. The presence of relevant knowledge and understanding of several cyber-attacks & threats is required crucially for the proper functioning of the protection from phishing in industries. Moreover, lack of knowledge will/expected to hamper the market growth, as the targeted individuals’ barely have prior information regarding the existence of such related scams. In recent, the FBI (Federal Branch of Investigation, U.S.) has confirmed that most of the hackers or phishing bodies are focusing or targeting the real estate sector, through emails. And the percentage of transactions that took place due to this activity between the years 2015-2017 was as high as 1100%, with a nearly 2200% increase in monetary loss.
Impact of COVID 19 on Global Phishing Protection Market
The COVID 19 pandemic did pose a risk of increased cyber-attacks due to high dependency on IT infrastructure, digital tools, cloud computing, network/connectivity-based completion of tasks, etc. Cybersecurity attacks have drastically increased in the past few months during the pandemic. According to a new report by Barracuda Networks, a worldwide leader in Security, Application Delivery, and Data Protection Solutions, 72% of all the COVID-19-related attacks in India happened via scamming or spear-phishing. Enlarging the figures of phishing scams, and hacking campaigns measures taken in countries like China, Japan, Russia, and the U.S. Increasing scrutiny for the identity verification purpose requirements. The temporary halts, lockdowns have led to the outcome of many industrial shortcomings & financial losses, but the networking, connectivity, IT infrastructure, cyber-security, system-security-related businesses, and markets have had a low-paced growth.
Global Phishing Protection Market: By Type
Based on type, the global phishing protection market is segmented into Email based Phishing and Non-Email-based Phishing. If we take by comparison, then in the initial stages of this decade. The email-based phishing was at its peak, with the new introduction of the internet over households it became easier for hackers to connect with their targets. As most of the population was unaware of the internet-based technicalities. Therefore, the market is likely to grow in this segment because most of the communications are done in emails nowadays.
Global Phishing Protection Market: By Application
Based on application, the market is divided into vertices such as BFSI, Education, Government, Healthcare, IT, Telecommunication, Transportation, and Retail. The expansive rise in internet penetration and investment in data security in the fronts like telecommunications, healthcare, IT, government, public, and residential sector allows the phishing protection market. Moreover, phishing protection solutions and services are being increasingly used by the enterprise sector to protect their digital assets from spam and thefts by providing email encryptions, email archiving, and prevention of data loss-aiding the relevant market with growth over the projected timespan.
Global Phishing Protection Market: Regional Analysis
As per the regional analysis, North America will have the greatest share amongst all. Due to the enhanced digitalization, smartphone usage, email users, remote location access users, IoT devices, etc. This specific region will lead because of high investments being done by top manufacturers in technological advancements of the entire cybersecurity system. And following recent trends in consumer acceptance of products is high there.
Recent Developments
● In December of 2020, IBM Security X-Force initiated a threat intelligence task force dedicated to tracking down COVID-19 cyber threats against organizations that are keeping the vaccine supply chain working. As a result of which, the X-Force team was able to uncover a global phishing campaign targeting organizations associated with a COVID-19 cold chain. “Cold chain is a component of the vaccine supply chain that ensures the safe preservation of vaccines in temperature-regulated environments during their storage and transportation.”
● In September of 2020, the cloud-linked email security solution GreatHorn announced the launch of its most substantial and comprehensive platform update. The entirely refreshed solution offers more expansive visibility across the entire email security stack for an even more intelligent phishing detection and response capability.
Competitive Landscape
The leading players in the market for Global Phishing Protection Market are BAE Systems, Cisco Systems Inc., FireEye Inc., GreatHorn, Inc., Intel Corporation, Microsoft Corporation, Mimecast Ltd., Phishlabs, Proofpoint, Inc., Symantec Corporation, and among various others.
Scope of the Report
By Type
● Email-based Phishing
● Non Email based Phishing
By Application
● BFSI
● Education
● Government
● Healthcare
● IT
● Telecommunication
● Transportation
● Retail
By Region
● Asia Pacific
● North America
● Europe
● Middle East & Africa
● Latin America
Table of Content
Chapter 1: Global Phishing Protection Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Phishing Protection market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Phishing Protection Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Phishing Protection market Size Forecast (2023-2032).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Phishing Protection market revenues on a global, regional, and country level, projecting trends until 2032. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Phishing Protection market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Phishing Protection market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Phishing Protection business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
About Report Ocean:
Report Ocean is a renowned provider of market research reports, offering high-quality insights to clients in various industries. Their goal is to assist clients in achieving their top line and bottom line objectives, thereby enhancing their market share in today’s competitive environment. As a trusted source for innovative market research reports, Report Ocean serves as a comprehensive solution for individuals, organizations, and industries seeking valuable market intelligence.