“Global Spear Phishing Market 2022 Research Report” Purchase This Report by calling ResearchnReports.com at +1-888-631-6977.
Spear Phishing Market by Component (Solutions, Services), Deployment Type (Cloud, Hybrid, On-Premises), Organization Size (SMES, Large Enterprises), Vertical (BFSI, Government & Defense, Critical Infrastructure), and Region – Global Forecast to 2022
The spear phishing market is projected to grow at a CAGR of 10.8% between 2017 and 2022
The spear phishing market is projected to grow from an estimated USD 840.7 million in 2017 to USD 1,401.6 million by 2022, at a CAGR of 10.8% between 2017 and 2022. Organizations rely heavily on spear phishing solutions whereby filtering spam, data loss prevention, email encryption, and email archiving proves beneficial for organizations. Hence, there is a huge demand for the integration of spear phishing market solutions with other mainstream technologies, which is fueling the growth of the spear phishing market. However, lack of awareness about cyber-attacks is restraining the growth of the spear phishing market.
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Based on component, the services segment accounted for the largest share of the spear phishing market in 2017 Based on component, the services segment accounted for the largest share of the spear phishing market in 2017. Services provide data analytics and data visualization services to organizations to detect and reveal attack campaigns, source of attacks, and targeted users. The services segment is subsegmented into professional services and managed services. The growth of this segment can be primarily attributed to spear phishing solution vendors that actively monitor emails and email gateways, and prevent data loss.
Based on vertical, the banking, financial services and insurance vertical is estimated to account for the largest share of the spear phishing market in 2017
Based on vertical, the Banking, Financial Services and Insurance (BFSI) segment is estimated to account for the largest share of the spear phishing market in 2017. Organizations in the BFSI industry need security products and services that can protect employees, customers, assets, offices, branches, and operations The demand for this segment can be primarily attributed to the rise in usage of smart banking, internet banking, and mobile banking. Hence, the BFSI segment is projected to witness considerable growth during the forecast period.
The spear phishing market has been studied for North America, Asia-Pacific (APAC), Europe, the Middle East & Africa (MEA), and Latin America. North America is estimated to lead the spear phishing market in 2017. Email security is identified as the most serious economic and national security challenge by the governments of several countries in the region. Increased digitization, use of mobile devices for e-mail access, and online browsing are some of the key factors expected to fuel the growth of the spear phishing market in North America.
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