Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Spear Phishing Protection Market size was over USD 1.09 billion in 2024 and is anticipated to cross USD 3.3 billion by 2037, witnessing more than 8.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of spear phishing protection is estimated at USD 1.25 billion.
The growth of this market can be attributed to the increasing digitalization globally. Growing digitalization has given rise to criminal activities such as the misuse of someone’s data for malicious purposes. Many hackers nowadays are stealing confidential data from servers and selling that information in the market and making good money out of it. This is increasing criminal activities online, thus, the demand for spear phishing protection is estimated to rise in the forecast period. Around 237 million ransomware attacks took place globally in the first half of 2022.
On the other hand, spear phishing protection is used as a filter to delete unsolicited emails and also works as a shield against critical information from hackers. Growing adoption of cloud email security solutions, increasing cybercrime activities in end-user industries such banking sector, healthcare, defense, finance, and e-commerce sectors. In addition, the global rise in internet infiltration is also estimated to drive this market in the forecast period. The internet penetration rate in the Asia Pacific region went to 47% in 2021.
Spear Phishing Protection Sector: Growth Drivers and Challenges
Growth Drivers
- High prevalence of spear phishing attacks, especially in the BFSI sector – Spear phishing is an email phishing threat from spammers to business organizations regarding the spread of their confidential information. Nowadays, many hackers are stealing confidential data from an organization’s server and selling that data in the market, and making hefty amounts. These kinds of cybercrime activities can be widely seen in the BFSI sector. Spear phishing protection works as a shield and protects confidential data from getting in contact with any unauthorized source. The BFSI Sector in India faced a loss of USD 64 million owing to cybercrime activities in FY 2021-22.
- Demand for efficient cloud email security solutions and services – Last year, internet usage skyrocketed by 50% to 70% 40 million people in Southeast Asia went online for the first time.
- Growing Digitalization - According to India Brand Equity Foundation, India’s digital lending was USD 75 billion in FY19. However, it is projected to reach USD 1 trillion by FY2023 driven by the five-fold increase in digital disbursements.
- Rising Internet Penetration – Globally, 5.18 million people are using the internet currently. This number is estimated to increase at an annual growth rate of 1.9%.
Challenges
- Less Awareness of Cyber Threats and Cyber Warfare – Less awareness and understanding regarding cyber threats and cyber warfare is considered to be the reason that can hamper the market in the forecast period. As per the FBI, in recent years, Business Email Compromises (BEC) hackers have focused heavily on the real estate sector.
- Strict Government Regulations
- Less Knowledge Among the Consumers
Spear Phishing Protection Market: Key Insights
| Report Attribute | Details |
|---|---|
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
8.9% |
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Base Year Market Size (2024) |
USD 1.09 billion |
|
Forecast Year Market Size (2037) |
USD 3.3 billion |
|
Regional Scope |
|
Spear Phishing Protection Segmentation
End-user (BFSI, Government & Defense, Healthcare, Telecommunication, Retail, Media & Entertainment, Transportation)
The global spear phishing protection market is segmented and analyzed for demand and supply by end users into BFSI, government & defense, healthcare, telecommunication, retail, media & entertainment, transportation, and others. Out of this, the BFSI segment is anticipated to account for the largest market share in the forecast period. In 2021, around five thousand cases of banking fraud were reported in the Asia Pacific region. This can be attributed owing to the growing number of cyber-crimes activities accounted for in the BFSI sector. In most cases, it is done with the help of social media or email. Hackers generally hack the official server and steal confidential and significant data from there, and then they sell that information in the market for hefty tons of money.
Component (Solutions, Services)
The global market of spear phishing protection is segmented and analyzed for demand and supply by component into services (Professional and Manual or Managed) and solutions (Cloud, Hybrid, and On-premises). Out of which, the solution segment is anticipated to account for the largest market share in the forecast period. The growth of this segment can be attributed to the demand of this market in the end-user industries such as BFSI, healthcare, defense, and retail sector to enhance their IT efficiency. The segment keeps an eye on the inbound and outbound email system and also makes sure the data is not shared illegally with any unauthorized sources. The solution segment includes prevention from data loss, spam filtering, intelligence risk, email authentication, malware attack warning, and email archiving.
Our in-depth analysis of the global market includes the following segments:
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By Component |
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By Protection Type |
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By End User |
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Spear Phishing Protection Industry - Regional Synopsis
North American Market Forecast
North America industry is expected to account for largest revenue share of 37% by 2037, The market in the North American region is estimated to witness the largest growth over the forecast period. This can be attributed to the back of enhanced digitization in the region and the high investment of leading companies in cyber security systems. Besides key market players, the government authorities of the region are also initiating the development of cybercrime systems. For instance, The President's budget for FY19 consists of USD 15 billion in budget authority for cyber-related activities, which is more than the last year. Also, growing digitalization, online browsing, and email accessibility in smartphones in the region are a few significant factors driving the growth of this market in the North American region.
APAC Market Statistics
Additionally, it is anticipated that during the forecast period, the Asia Pacific spear phishing prevention market will expand significantly. The rise in cyberattacks and data theft is to blame for this expansion, which has seen a sharp rise in the use of security tools including email encryption, ransomware defense, and zero-day prevention. Additionally, the region has seen a growth in the use of mobile devices, which has raised the danger of data theft from these devices. The development of government organizations' digital infrastructure through the use of cloud services and BYOD guidelines is another trend that is expected to contribute to the region's growth over the course of the projection period.
Europe Market Forecast
The Europe spear phishing market is estimated to be registering a significant share by the end of 2036. This can be attributed owing to the increasing adoption of advanced cybersecurity solutions. Moreover, increasing digitization in the region may lead to a rise in demand for cyber security services or solutions, which could boost the global spear phishing protection market further.
Companies Dominating the Spear Phishing Protection Landscape
- Microsoft Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- BAE Systems
- Barracuda Networks Inc.
- FireEye, Inc.
- Cisco Systems
- Proofpoint
- GreatHorn, Inc.
- Phishlabs
- Intel Corporation
- Symantec Corporation
- Mimecast Ltd.
- Cofense Inc.
Recent Developments
- BAE Systems- To improve cooperation in cyberspace and secure communications, EDGE, and BAE Systems have signed a memorandum of understanding. A framework is provided by the MoU to improve capabilities and jointly pursue opportunities in the cyber and secure communications domains.
- Cofense Inc. unveiled its most recent technology. Users can send phishing scenario emails only when intended recipients complete the task in their mail client. It is an addition of response delivery to its flagship product. The product will gain consumers and raise the company's revenue.
- Report ID: 3499
- Published Date: Dec 20, 2024
- Report Format: PDF, PPT
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Spear Phishing Protection Market Report Scope
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