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Spear Phishing Protection Market Segmentation by Component (Solutions, Services); by Protection Type (Data Leak Protection, Email Encryption, Zero-Day Prevention, Ransomware Protection, Multi-layered Malware Protection, Social Engineering Protection, Denial of Service Attack Protection); by End User (BFSI, Government & Defense, Healthcare, Telecommunication, Retail, Media & Entertainment, Transportation, Others) – Global Demand Analysis & Opportunity Outlook 2030

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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July 2021: Google Cloud Security introduced multiple cloud security services, several of which involves opportunities for more MSSP partners. These developments are Cloud IDS, Google Chronicle, Autonomic Security Operations, Cyber Insurance, and Cyber Security Risk Management.

May 2021: USAID was attacked with a spear phishing campaign that targeted over 3,000 accounts in 150 organisations through mass email program. The campaign carried all the hallmarks of a state-sponsored attack.

February 2021: Barracuda Networks Inc. introduced a redesigned version of their email security solution, Barracuda Email Threat Scanner, to help detect email threats like spear phishing, BEC, conversation hijacking, etc., from getting past email gateway.

December 2020: Microsoft Office 365 users were targeted to spear phishing campaign using exact domain spoofing tactic of Microsoft that lured recipients to click on a malicious link. The link redirected users to a fake login page designed to steal their login credentials.

Global Spear Phishing Protection Market Highlights over 2022-2030

Spear phishing is defined as a phishing attack using specifically designed emails for targeted individuals or organisations. It is one of the most popular cyber-attacks and with highest success rate. The global spear phishing protection market is estimated to be worth nearly USD 2.1 Billion by 2030 by growing at a CAGR of over 11% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to rising unethical internet penetration and investment in cyber security.

Spear Phishing Protection Market Graph

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In the last decade, it has been observed that there has been 71% rise in spear phishing attacks. This rise is influencing the demand for efficient cloud email security solutions and services. However, the lack of understanding and awareness about the threats of cyber-attacks is expected to restrain the market growth. There is still a deficit of knowledge about the prevailing cyber warfare and its growth, that needs to be addressed.

The market is segmented by component into solutions and services, out of which, the solutions segment is anticipated to hold the largest share and is expected to grow at the highest CAGR on the back of higher adoption of such solutions to increase IT security. The solutions segment is further segmented into cloud, hybrid and on-premises.

Spear Phishing Protection Market Share Graph

Based on protection type, the global spear phishing protection market is segmented into data leak protection, email encryption, zero-day prevention, ransomware protection, multi-layered malware protection, social engineering protection, and denial of service attack protection, among which email encryption segment is estimated to hold a dominant share. These solutions monitor emails and email gateways, and avoid data loss. Moreover, rising demand for cloud email security solutions is expected to boost the market during the forecast period.

Major Macro-Economic Indicators Impacting the Market Growth

Research and Development Expenditure Graph

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The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Spear Phishing Protection Market Regional Synopsis

Regionally, the global spear phishing protection market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period. It is expected to hold nearly 38% of the global market share by 2030 on the back of enhanced digitization in the region and high investment of leading companies on cyber security systems.

Europe and Asia-Pacific are expected to grow as main markets of spear phishing protection, following North America, showing remarkable market opportunities owing to increasing adoption of advanced cyber security solutions. However, Asia-Pacific region is estimated to show the highest growth by growing at a CAGR of ~13% during the forecast period. Moreover, increasing digitization in Middle East and Africa region may lead to rise in demand for cyber security services or solutions, which could boost the global spear phishing protection market further.

The global spear phishing protection market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global spear phishing protection market includes the following segments:

By Component

  • Solutions
    • Cloud
    • Hybrid
    • On-premises
  • Services
    • Professional
    • Manual or Managed

By Protection Type

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

By End User

  • BFSI
  • Government & Defense
  • Healthcare
  • Telecommunication
  • Retail
  • Media & Entertainment
  • Transportation

Growth Drivers

  • High prevalence of spear phishing attacks, especially in BFSI sector
  • Demand for efficient cloud email security solutions and services


  • Lack of awareness about cyber threats and cyber warfare

Top Featured Companies Dominating the Market

  • 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.


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