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, 2024 – 2032

11 Mar 2020 Format PDF icon PPT icon XLS icon Request Sample

"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 2023 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.

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

"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 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.

Top factors driving the market growth include:

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

Key Developments:

  • 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.

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
  • AO Kaspersky Lab
  • Bitdefender
  • Avira Operations GmbH & Co. KG.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

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.

Research Methodology

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:

  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • 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.

Research Period  2022-2032
Base Year 2023
Forecast Period  2024-2032
Historical Year  2022
Unit  USD Billion
  • 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  

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

 Region Segment (2022-2032; 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

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Spear Phishing Protection market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2032.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Spear Phishing Protection market?
  • Which is the largest regional market for Spear Phishing Protection market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Spear Phishing Protection market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Spear Phishing Protection market worldwide?
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