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Spear Phishing Market

Spear Phishing Market Forecasts to 2028 – Global Analysis By Component (Service, Solution), Organization Size, End User (Media and Entertainment, Critical Infrastructure), and By Geography

4.4 (49 reviews)
Published: June 2022 ID: SMRC21522
4.4 (49 reviews)
Published: June 2022 ID: SMRC21522

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Spear Phishing Market is accounted for $1265.40 million in 2021 and is expected to reach $2940.30 million by 2028 growing at a CAGR of 12.8% during the forecast period. Spear phishing is the deceitful practice of sending emails allegedly from a referred or trusted sender so as to provoke targeted individuals to disclose confidential information. Spear phishing protection is generally used to eliminate all the unauthorized access in the systems of the enterprises and safeguard the confidential information.

Market Dynamics:

Driver:

Increasing incidents of spear phishing attacks


Spear phishing is an email phishing danger from spammers or attackers to associations to acquire business classified and sensitive information. Normally it's done by email or online media. Usually, it is utilized by the attacker to get to access to corporate secrets and financial information. Spear phishing protection is utilized to eliminate and safeguard confidential information from all unauthorized access in the enterprise systems. This expansion in the number shows that there is a high demand for anti-phishing solutions and this drives the market.

Restraint:

Lack of knowledge and understanding of current threats and cyber warfare


Lack of knowledge and understanding of cyber-attacks is likely to restrain the growth of the spear-phishing market in different end-use industries. Business email compromise scams are on the rise to focus the real estate sector. Such an expanding number shows that the anti-phishing solutions are not finding success in preventing phishing activities. The absence of knowledge to develop and utilize anti-phishing solutions will cause hindrance to the growth of the market.


Opportunity:

Growing adoption of digitization in the industry verticals


There is an increasing adoption of cloud email security solutions and high numbers of cybercrimes in different end-user industries such as banking and finance, defense, healthcare, and retail. The demand for convergence of spear-phishing solutions with other standard advancements also drives the market. Digital lending to micro, small and medium-sized enterprises (MSMEs) in India is expected to reach high. This growth in digitization will give rise to opportunities for more phishing operations, which in turn will boost market demand.

The service segment is expected to be the largest during the forecast period

The service segment is estimated to have a lucrative growth owing to the early adoption of email security services. These services offer lucrative growth opportunities to service vendors by offering data analytics and data visualization services to organizations to detect and reveal attack campaigns, the source of attacks, and targeted users.

The banking, financial services, and insurance (BFSI) segment is expected to have the highest CAGR during the forecast period

The banking, financial services, and insurance (BFSI) segment is anticipated to witness the fastest CAGR growth during the forecast period due to the requirement of security products and services that can protect employees, customers, assets, offices, branches, and operations. Furthermore, enhancement of business operations and expansion of customer base makes the industry a lucrative target for fraudsters, fueling the adoption of spear phishing solutions and services in the BFSI vertical.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period due to increasing digitization, online browsing, and use of mobile devices. Countries in Asia Pacific are likely to witness an increasing number of spear phishing attacks, which is expected to augment the adoption of advanced email security solutions.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period due to enhanced digitization, smartphone email access, and online browsing in this region. The high market share of the region is also because of high investments by leading manufacturers in technological up gradation of the cyber security system and broad trends in consumer acceptance of products.

Key players in the market

Some of the key players profiled in the Spear Phishing Market include Barracuda Networks Inc., Trend Micro, Inc., Symantec Corporation, Cisco Systems Inc., RSA Security LLC., Proofpoint, Microsoft Corporation, Ironscales, FireEye Inc., GreatHorn, Inc., Forcepoint LLC., Intel Corporation, Checkpoint Software Technologies Ltd., Sophos Ltd. and BAE Systems.

  
Key Developments:

In February 2021, Barracuda Networks Inc. launched 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.

In May 2019, IRONSCALES entered into an agreement with BDO MDR. It will allow the company to ease the burden on its SOC team and will now be able to deliver time savings and risk reduction benefits to its customers that will keep the company's customers and make it a dominant force.
 
Deployment Types Covered:
• Cloud
• Hybrid
• On-Premises
 
Components Covered:
• Service
• Solution
 
Organization Sizes Covered:
• Small and Medium Enterprises (SMEs)
• Large enterprises
 
End Users Covered:
• Retail
• Media and Entertainment
• IT and Telecommunication
• Healthcare
• Government and Defense
• Critical Infrastructure
• Banking, Financial Services, and Insurance (BFSI)
• Manufacturing

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India        
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

 

1 Executive Summary          
            
2 Preface 
          
 2.1 Abstract          
 2.2 Stake Holders         
 2.3 Research Scope         
 2.4 Research Methodology        
  2.4.1 Data Mining        
  2.4.2 Data Analysis        
  2.4.3 Data Validation        
  2.4.4 Research Approach        
 2.5 Research Sources         
  2.5.1 Primary Research Sources       
  2.5.2 Secondary Research Sources       
  2.5.3 Assumptions        
            
3 Market Trend Analysis         
 3.1 Introduction         
 3.2 Drivers          
 3.3 Restraints         
 3.4 Opportunities          
 3.5 Threats          
 3.6 End User Analysis         
 3.7 Emerging Markets         
 3.8 Impact of Covid-19         
            
4 Porters Five Force Analysis         
 4.1 Bargaining power of suppliers        
 4.2 Bargaining power of buyers        
 4.3 Threat of substitutes        
 4.4 Threat of new entrants        
 4.5 Competitive rivalry         
            
5 Global Spear Phishing Market, By Deployment Type      
 5.1 Introduction         
 5.2 Cloud          
 5.3 Hybrid          
 5.4 On-Premises         
            
6 Global Spear Phishing Market, By Component       
 6.1 Introduction         
 6.2 Service          
  6.2.1 Managed Services        
  6.2.2 Professional Services       
 6.3 Solution          
            
7 Global Spear Phishing Market, By Organization Size       
 7.1 Introduction         
 7.2 Small and Medium Enterprises (SMEs)       
 7.3 Large enterprises         
            
8 Global Spear Phishing Market, By End User       
 8.1 Introduction         
 8.2 Retail          
 8.3 Media and Entertainment        
 8.4 IT and Telecommunication        
 8.5 Healthcare         
 8.6 Government and Defense        
 8.7 Critical Infrastructure        
 8.8 Banking, Financial Services, and Insurance (BFSI)      
 8.9 Manufacturing         
            
9 Global Spear Phishing Market, By Geography       
 9.1 Introduction         
 9.2 North America         
  9.2.1 US         
  9.2.2 Canada         
  9.2.3 Mexico         
 9.3 Europe          
  9.3.1 Germany         
  9.3.2 UK         
  9.3.3 Italy         
  9.3.4 France         
  9.3.5 Spain         
  9.3.6 Rest of Europe        
 9.4 Asia Pacific         
  9.4.1 Japan         
  9.4.2 China         
  9.4.3 India         
  9.4.4 Australia         
  9.4.5 New Zealand        
  9.4.6 South Korea        
  9.4.7 Rest of Asia Pacific        
 9.5 South America         
  9.5.1 Argentina        
  9.5.2 Brazil         
  9.5.3 Chile         
  9.5.4 Rest of South America       
 9.6 Middle East & Africa        
  9.6.1 Saudi Arabia        
  9.6.2 UAE         
  9.6.3 Qatar         
  9.6.4 South Africa        
  9.6.5 Rest of Middle East & Africa       
            
10 Key Developments           
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures     
 10.2 Acquisitions & Mergers        
 10.3 New Product Launch        
 10.4 Expansions         
 10.5 Other Key Strategies        
            
11 Company Profiling          
 11.1 Barracuda Networks Inc.        
 11.2 Trend Micro, Inc.         
 11.3 Symantec Corporation        
 11.4 Cisco Systems Inc.         
 11.5 RSA Security LLC.         
 11.6 Proofpoint          
 11.7 Microsoft Corporation        
 11.8 Ironscales         
 11.9 FireEye Inc.          
 11.10 GreatHorn, Inc.         
 11.11 Forcepoint LLC.         
 11.12 Intel Corporation         
 11.13 Checkpoint Software Technologies Ltd.        
 11.14 Sophos Ltd.         
 11.15 BAE Systems         
            
List of Tables           
1 Global Spear Phishing Market Outlook, By Region (2020-2028) ($MN)     
2 Global Spear Phishing Market Outlook, By Deployment Type (2020-2028) ($MN)    
3 Global Spear Phishing Market Outlook, By Cloud (2020-2028) ($MN)     
4 Global Spear Phishing Market Outlook, By Hybrid (2020-2028) ($MN)     
5 Global Spear Phishing Market Outlook, By On-Premises (2020-2028) ($MN)    
6 Global Spear Phishing Market Outlook, By Component (2020-2028) ($MN)    
7 Global Spear Phishing Market Outlook, By Service (2020-2028) ($MN)     
8 Global Spear Phishing Market Outlook, By Managed Services (2020-2028) ($MN)    
9 Global Spear Phishing Market Outlook, By Professional Services (2020-2028) ($MN)    
10 Global Spear Phishing Market Outlook, By Solution (2020-2028) ($MN)     
11 Global Spear Phishing Market Outlook, By Organization Size (2020-2028) ($MN)    
12 Global Spear Phishing Market Outlook, By Small and Medium Enterprises (SMEs) (2020-2028) ($MN)  
13 Global Spear Phishing Market Outlook, By Large enterprises (2020-2028) ($MN)    
14 Global Spear Phishing Market Outlook, By End User (2020-2028) ($MN)     
15 Global Spear Phishing Market Outlook, By Retail (2020-2028) ($MN)     
16 Global Spear Phishing Market Outlook, By Media and Entertainment (2020-2028) ($MN)   
17 Global Spear Phishing Market Outlook, By IT and Telecommunication (2020-2028) ($MN)   
18 Global Spear Phishing Market Outlook, By Healthcare (2020-2028) ($MN)     
19 Global Spear Phishing Market Outlook, By Government and Defense (2020-2028) ($MN)   
20 Global Spear Phishing Market Outlook, By Critical Infrastructure (2020-2028) ($MN)    
21 Global Spear Phishing Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2020-2028) ($MN) 
22 Global Spear Phishing Market Outlook, By Manufacturing (2020-2028) ($MN)    
23 North America Spear Phishing Market Outlook, By Country (2020-2028) ($MN)    
24 North America Spear Phishing Market Outlook, By Deployment Type (2020-2028) ($MN)    
25 North America Spear Phishing Market Outlook, By Cloud (2020-2028) ($MN)    
26 North America Spear Phishing Market Outlook, By Hybrid (2020-2028) ($MN)    
27 North America Spear Phishing Market Outlook, By On-Premises (2020-2028) ($MN)    
28 North America Spear Phishing Market Outlook, By Component (2020-2028) ($MN)    
29 North America Spear Phishing Market Outlook, By Service (2020-2028) ($MN)    
30 North America Spear Phishing Market Outlook, By Managed Services (2020-2028) ($MN)   
31 North America Spear Phishing Market Outlook, By Professional Services (2020-2028) ($MN)   
32 North America Spear Phishing Market Outlook, By Solution (2020-2028) ($MN)    
33 North America Spear Phishing Market Outlook, By Organization Size (2020-2028) ($MN)   
34 North America Spear Phishing Market Outlook, By Small and Medium Enterprises (SMEs) (2020-2028) ($MN) 
35 North America Spear Phishing Market Outlook, By Large enterprises (2020-2028) ($MN)   
36 North America Spear Phishing Market Outlook, By End User (2020-2028) ($MN)    
37 North America Spear Phishing Market Outlook, By Retail (2020-2028) ($MN)    
38 North America Spear Phishing Market Outlook, By Media and Entertainment (2020-2028) ($MN)  
39 North America Spear Phishing Market Outlook, By IT and Telecommunication (2020-2028) ($MN)  
40 North America Spear Phishing Market Outlook, By Healthcare (2020-2028) ($MN)    
41 North America Spear Phishing Market Outlook, By Government and Defense (2020-2028) ($MN)  
42 North America Spear Phishing Market Outlook, By Critical Infrastructure (2020-2028) ($MN)   
43 North America Spear Phishing Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2020-2028) ($MN)
44 North America Spear Phishing Market Outlook, By Manufacturing (2020-2028) ($MN)   
45 Europe Spear Phishing Market Outlook, By Country (2020-2028) ($MN)     
46 Europe Spear Phishing Market Outlook, By Deployment Type (2020-2028) ($MN)    
47 Europe Spear Phishing Market Outlook, By Cloud (2020-2028) ($MN)     
48 Europe Spear Phishing Market Outlook, By Hybrid (2020-2028) ($MN)     
49 Europe Spear Phishing Market Outlook, By On-Premises (2020-2028) ($MN)    
50 Europe Spear Phishing Market Outlook, By Component (2020-2028) ($MN)    
51 Europe Spear Phishing Market Outlook, By Service (2020-2028) ($MN)     
52 Europe Spear Phishing Market Outlook, By Managed Services (2020-2028) ($MN)    
53 Europe Spear Phishing Market Outlook, By Professional Services (2020-2028) ($MN)   
54 Europe Spear Phishing Market Outlook, By Solution (2020-2028) ($MN)     
55 Europe Spear Phishing Market Outlook, By Organization Size (2020-2028) ($MN)    
56 Europe Spear Phishing Market Outlook, By Small and Medium Enterprises (SMEs) (2020-2028) ($MN)  
57 Europe Spear Phishing Market Outlook, By Large enterprises (2020-2028) ($MN)    
58 Europe Spear Phishing Market Outlook, By End User (2020-2028) ($MN)     
59 Europe Spear Phishing Market Outlook, By Retail (2020-2028) ($MN)     
60 Europe Spear Phishing Market Outlook, By Media and Entertainment (2020-2028) ($MN)   
61 Europe Spear Phishing Market Outlook, By IT and Telecommunication (2020-2028) ($MN)   
62 Europe Spear Phishing Market Outlook, By Healthcare (2020-2028) ($MN)    
63 Europe Spear Phishing Market Outlook, By Government and Defense (2020-2028) ($MN)   
64 Europe Spear Phishing Market Outlook, By Critical Infrastructure (2020-2028) ($MN)   
65 Europe Spear Phishing Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2020-2028) ($MN) 
66 Europe Spear Phishing Market Outlook, By Manufacturing (2020-2028) ($MN)    
67 Asia Pacific Spear Phishing Market Outlook, By Country (2020-2028) ($MN)    
68 Asia Pacific Spear Phishing Market Outlook, By Deployment Type (2020-2028) ($MN)   
69 Asia Pacific Spear Phishing Market Outlook, By Cloud (2020-2028) ($MN)     
70 Asia Pacific Spear Phishing Market Outlook, By Hybrid (2020-2028) ($MN)    
71 Asia Pacific Spear Phishing Market Outlook, By On-Premises (2020-2028) ($MN)    
72 Asia Pacific Spear Phishing Market Outlook, By Component (2020-2028) ($MN)    
73 Asia Pacific Spear Phishing Market Outlook, By Service (2020-2028) ($MN)    
74 Asia Pacific Spear Phishing Market Outlook, By Managed Services (2020-2028) ($MN)   
75 Asia Pacific Spear Phishing Market Outlook, By Professional Services (2020-2028) ($MN)   
76 Asia Pacific Spear Phishing Market Outlook, By Solution (2020-2028) ($MN)    
77 Asia Pacific Spear Phishing Market Outlook, By Organization Size (2020-2028) ($MN)   
78 Asia Pacific Spear Phishing Market Outlook, By Small and Medium Enterprises (SMEs) (2020-2028) ($MN) 
79 Asia Pacific Spear Phishing Market Outlook, By Large enterprises (2020-2028) ($MN)   
80 Asia Pacific Spear Phishing Market Outlook, By End User (2020-2028) ($MN)     
81 Asia Pacific Spear Phishing Market Outlook, By Retail (2020-2028) ($MN)     
82 Asia Pacific Spear Phishing Market Outlook, By Media and Entertainment (2020-2028) ($MN)   
83 Asia Pacific Spear Phishing Market Outlook, By IT and Telecommunication (2020-2028) ($MN)   
84 Asia Pacific Spear Phishing Market Outlook, By Healthcare (2020-2028) ($MN)    
85 Asia Pacific Spear Phishing Market Outlook, By Government and Defense (2020-2028) ($MN)   
86 Asia Pacific Spear Phishing Market Outlook, By Critical Infrastructure (2020-2028) ($MN)   
87 Asia Pacific Spear Phishing Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2020-2028) ($MN)
88 Asia Pacific Spear Phishing Market Outlook, By Manufacturing (2020-2028) ($MN)    
89 South America Spear Phishing Market Outlook, By Country (2020-2028) ($MN)    
90 South America Spear Phishing Market Outlook, By Deployment Type (2020-2028) ($MN)   
91 South America Spear Phishing Market Outlook, By Cloud (2020-2028) ($MN)    
92 South America Spear Phishing Market Outlook, By Hybrid (2020-2028) ($MN)    
93 South America Spear Phishing Market Outlook, By On-Premises (2020-2028) ($MN)    
94 South America Spear Phishing Market Outlook, By Component (2020-2028) ($MN)    
95 South America Spear Phishing Market Outlook, By Service (2020-2028) ($MN)    
96 South America Spear Phishing Market Outlook, By Managed Services (2020-2028) ($MN)   
97 South America Spear Phishing Market Outlook, By Professional Services (2020-2028) ($MN)   
98 South America Spear Phishing Market Outlook, By Solution (2020-2028) ($MN)    
99 South America Spear Phishing Market Outlook, By Organization Size (2020-2028) ($MN)   
100 South America Spear Phishing Market Outlook, By Small and Medium Enterprises (SMEs) (2020-2028) ($MN) 
101 South America Spear Phishing Market Outlook, By Large enterprises (2020-2028) ($MN)   
102 South America Spear Phishing Market Outlook, By End User (2020-2028) ($MN)    
103 South America Spear Phishing Market Outlook, By Retail (2020-2028) ($MN)    
104 South America Spear Phishing Market Outlook, By Media and Entertainment (2020-2028) ($MN)  
105 South America Spear Phishing Market Outlook, By IT and Telecommunication (2020-2028) ($MN)  
106 South America Spear Phishing Market Outlook, By Healthcare (2020-2028) ($MN)    
107 South America Spear Phishing Market Outlook, By Government and Defense (2020-2028) ($MN)  
108 South America Spear Phishing Market Outlook, By Critical Infrastructure (2020-2028) ($MN)   
109 South America Spear Phishing Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2020-2028) ($MN)
110 South America Spear Phishing Market Outlook, By Manufacturing (2020-2028) ($MN)   
111 Middle East & Africa Spear Phishing Market Outlook, By Country (2020-2028) ($MN)   
112 Middle East & Africa Spear Phishing Market Outlook, By Deployment Type (2020-2028) ($MN)   
113 Middle East & Africa Spear Phishing Market Outlook, By Cloud (2020-2028) ($MN)    
114 Middle East & Africa Spear Phishing Market Outlook, By Hybrid (2020-2028) ($MN)    
115 Middle East & Africa Spear Phishing Market Outlook, By On-Premises (2020-2028) ($MN)   
116 Middle East & Africa Spear Phishing Market Outlook, By Component (2020-2028) ($MN)   
117 Middle East & Africa Spear Phishing Market Outlook, By Service (2020-2028) ($MN)    
118 Middle East & Africa Spear Phishing Market Outlook, By Managed Services (2020-2028) ($MN)   
119 Middle East & Africa Spear Phishing Market Outlook, By Professional Services (2020-2028) ($MN)  
120 Middle East & Africa Spear Phishing Market Outlook, By Solution (2020-2028) ($MN)   
121 Middle East & Africa Spear Phishing Market Outlook, By Organization Size (2020-2028) ($MN)   
122 Middle East & Africa Spear Phishing Market Outlook, By Small and Medium Enterprises (SMEs) (2020-2028) ($MN) 
123 Middle East & Africa Spear Phishing Market Outlook, By Large enterprises (2020-2028) ($MN)   
124 Middle East & Africa Spear Phishing Market Outlook, By End User (2020-2028) ($MN)   
125 Middle East & Africa Spear Phishing Market Outlook, By Retail (2020-2028) ($MN)    
126 Middle East & Africa Spear Phishing Market Outlook, By Media and Entertainment (2020-2028) ($MN)  
127 Middle East & Africa Spear Phishing Market Outlook, By IT and Telecommunication (2020-2028) ($MN)  
128 Middle East & Africa Spear Phishing Market Outlook, By Healthcare (2020-2028) ($MN)   
129 Middle East & Africa Spear Phishing Market Outlook, By Government and Defense (2020-2028) ($MN)  
130 Middle East & Africa Spear Phishing Market Outlook, By Critical Infrastructure (2020-2028) ($MN)  
131 Middle East & Africa Spear Phishing Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2020-2028) ($MN)
132 Middle East & Africa Spear Phishing Market Outlook, By Manufacturing (2020-2028) ($MN)   
            

 

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