Global Phishing Protection Market Size, Share & Trends Analysis Report By Offering, By Solution Type, By Services Type, By Sub-type, By Deployment, By Enterprise Size, By Vertical, By Regional Outlook and Forecast, 2023 - 2030

Global Phishing Protection Market Size, Share & Trends Analysis Report By Offering, By Solution Type, By Services Type, By Sub-type, By Deployment, By Enterprise Size, By Vertical, By Regional Outlook and Forecast, 2023 - 2030

The Global Phishing Protection Market size is expected to reach $5.2 billion by 2030, rising at a market growth of 13.3% CAGR during the forecast period.

High-profile government & defence officials and employees may be targeted through spear phishing attacks. Phishing protection solutions help safeguard government & defence personnel against these targeted threats. Consequently, the government & defence segment would acquire nearly, 16% of the total market share by 2030.

Behavioral analysis involves establishing a baseline of normal user behavior within an organization. By understanding what constitutes typical user actions, deviations from this baseline can be identified and flagged as potential phishing threats. Behavioral analysis contributes to risk-based authentication by assessing the risk associated with specific user actions. Thus, because of the increased focus on behavioral analysis, the market is anticipated to increase significantly. Additionally, Integration with security orchestration (SOAR) platforms enables this protection solutions to connect with incident response workflows seamlessly. Organizations can customize incident response playbooks within SOAR platforms to align with their specific protection requirements. Hence, integration with security orchestration platforms has been a pivotal factor in driving the growth of the market.

However, Supply chain phishing introduces an extended attack surface beyond the immediate organization. Attackers can use supply chain weaknesses to compromise several entities, making it difficult for businesses to protect against threats that originate outside of their immediate control. Regulatory compliance requirements often extend to supply chain cybersecurity. Organizations must ensure that their supply chain practices comply with data protection and privacy regulations. Thus, supply chain phishing risks can slow down the growth of the market.

By Offering Analysis

By offering, the market is categorized into solution and services. The services segment covered 24% revenue share in the market in 2022. These protection services often include advanced email security and filtering capabilities. These protection services often include URL scanning and analysis capabilities. They scrutinize website links in emails or messages, identifying whether they lead to legitimate websites or malicious domains associated with phishing attacks.

By Sub-type Analysis

Based on sub-type, the market is classified into email-based phishing and non-email-based phishing. The non-email-based phishing segment recorded a 25% revenue share in the market in 2022. Vishing involves using voice communication to trick individuals into revealing sensitive information. This can include phone calls impersonating legitimate organizations or automated voice messages prompting users to take certain actions.

By Deployment Analysis

By deployment, the market is segmented into cloud and on premise. The on premise segment garnered 40% revenue share in the market in 2022. On premise solutions operate within the organization's network, providing a degree of isolation from external networks. On premise solutions allow organizations to have direct control over network latency and performance.

By Enterprise Size Analysis

On the basis of enterprise size, the market is divided into small & medium-sized enterprises and large enterprises. The small & medium-sized enterprises segment acquired a 30% revenue share in the market in 2022. Small & medium-sized enterprises (SMEs) recognize the importance of educating employees about phishing threats. SMEs engage with vendors and partners, and cybercriminals may attempt to compromise communications between these entities.

By Vertical Analysis

Based on vertical, the market is fragmented into BFSI, IT & ITeS, government & defence, healthcare & lifesciences, retail, media & entertainment, and others. The BFSI segment recorded a 20% revenue share in the market in 2022. BFSI segment deals with significant financial transactions and sensitive customer data. Phishing attacks targeting financial institutions aim to compromise customer accounts, execute fraudulent transactions, or gain unauthorized access to confidential information.

By Regional Analysis

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating 36% revenue share. North America is a prime target for cybercriminals due to its economic significance and the wealth of valuable data stored by businesses and government entities.

Recent Strategies Deployed in the Market

• Dec-2023: Proofpoint, Inc. took over Tessian, an email security company. The acquisition strengthens Proofpoint’s information and threat protection platforms.
• Nov-2023: IRONSCALES LTD released new updates for its phishing protection platform. The new features include deep-text and image processing and optical character recognition to identify and eliminate image-based phishing threats.
• Jul-2023: Trustwave Holdings, Inc. signed a partnership with Trellix, a cybersecurity company. The partnership aimed at providing security teams with advanced cyber threat visibility and action solutions.
• May-2023: IRONSCALES LTD announced a partnership with Infinigate Group, a distributor of cybersecurity and secure cloud. The partnership aimed at distributing IRONSCALES' enterprise cloud email security platform in the Switzerland, Benelux, and Nordics regions.
• Nov-2021: OpenText Corporation acquired Bricata, a network protection solutions provider. The acquisition adds next-generation network detection and response (NDR) technology to OpenText's security and protection cloud platform.

List of Key Companies Profiled

• Barracuda Networks, Inc. (KKR & Co. Inc.)
• Cofense Inc.
• DuoCircle LLC
• IRONSCALES LTD
• Microsoft Corporation
• Mimecast Limited
• Proofpoint, Inc. (Thoma Bravo)
• OpenText Corporation
• Trustwave Holdings, Inc.(The Chertoff Group)
• Fortra, LLC (HGGC)

Global Phishing Protection Market Report Segmentation

By Offering

• Solution
• Services

By Sub-type

• Email-based Phishing
• Non-Email-based Phishing

By Deployment

• Cloud
• On premise

By Enterprise Size

• Large Enterprises
• Small & Medium Enterprises

By Vertical

• IT & ITeS
• Government & Defense
• Media & Entertainment
• Healthcare & Lifesciences
• Retail
• BFSI
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

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