Spear Phishing Protection Market

Spear Phishing Protection Market

Spear Phishing Protection Market Forecasts to 2028 - Global Analysis By Protection Type (Social Engineering Protection, Data Leak Protection, and Other Protection Types), Component (Services, Solutions, Other Components), Application (Government, Telecommunication & IT, Retail and Other Applications), and Geography

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Published: 2023 ID: SMRC22293

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2022)

US $1401.6 BN

Projected Year Value (2028)

US $2887.2 BN

CAGR (2022 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Fastest Growing Market

North America


According to Stratistics MRC, the Global Spear Phishing Protection Market is accounted for $1401.6 billion in 2022 and is expected to reach $2887.2 billion by 2028 growing at a CAGR of 12.8% during the forecast period. An email or other electronic communication scam known as spear phishing targets a specific person, company, or organisation. The rise of digitization has boosted illegal activities like data theft for nefarious motives. The demand for spear phishing protection is rising as more hackers are breaking into customers' sensitive data and selling it. This is causing an increase in criminal activity online. In addition to protecting sensitive information from hackers, spear phishing defence is employed as a filter to block or put unwelcome emails.

According to the statistics provided by United Nations Conference on Trade and Development (UNCTAD), the total export (%) of ICT goods such as computers, peripheral, communication and electronic equipment among other IT goods around the world grew from 10.62% in 2011 to 11.51% in 2017. The highest was recorded in Hong Kong, with 51.7% in 2017, followed by Philippines, Singapore and Malaysia.


Market Dynamics:


Increasing Incidents of Spear Phishing Attacks

Spear phishing is a successful phishing threat made to enterprises by spammers or attackers in an effort to get sensitive and secret business information. Usually, it's done through social media or email. Typically, the attacker uses it to get financial information and trade secrets. To eliminate and guard against any unwanted access to confidential information in the company systems, spear phishing protection is used. The market is driven by a high demand for anti-phishing solutions, as seen by the increase in numbers.


Lack of awareness about cyber threats and cyber warfare

The spear phishing security industry is predicted to experience slow growth in a number of end-use industries due to a lack of awareness and understanding of cyber-attacks. This rising number demonstrates that anti-phishing techniques are ineffective in stopping phishing activities. The market's expansion will be hampered by a lack of understanding regarding the creation and application of anti-phishing solutions.


Change in lifestyle patterns

The rate of technological development worldwide—whether it is in artificial intelligence (AI), the internet of things (IoT), or virtual reality—is closely correlated with the expansion of the global spear phishing protection market. Over 20 billion gadgets are expected to be online within the next two years. The global digital transformation in various industries is expected to offer value producing opportunities in the global Spear Phishing Protection Market, which is also anticipated to significantly boost market revenue throughout the forecast period. Hundreds of devices are connecting to the internet every second.


Service attacks

Targets are carefully chosen by spear phishers so that the assault appears to come from people the target knows and trusts. Additionally, spear phishing assaults can use malware to take control of targets' computers and group them into sizable networks known as botnets that can be exploited for denial of service attacks. Employees must be aware of the dangers, such as the potential for receiving phoney emails, in order to combat spear phishing attacks.

Covid-19 Impact

Since the general economic situation of the majority of people has been adversely impacted by this outbreak, consumer demand has subsequently decreased as people are now more eager to cut non-essential expenses from their individual budgets. Over the course of the forecast period, the aforementioned factors are anticipated to negatively impact the global market for spear phishing protection's revenue trajectory. The global Spear Phishing Protection market is anticipated to rebound, nevertheless, when the relevant governing bodies start to lift these imposed lockdowns.

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

The services segment is estimated to have a lucrative growth, due to an increase in cyber attacks. One of the most popular cyber security solutions, managed security services are expanding quickly because they are simple to use and maintain in the banking and financial sector, telecommunications industry, and healthcare industry.

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 rise in bank cyber attacks that result in the loss of very valuable assets and consumer data. Attackers who target banking organisations use spear phishing assaults to enter their systems or steal sensitive data, including credentials, transaction logs, and other files connected to the workings of the financial services industry.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to rise in cyber attacks 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 defence, 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 organisations' 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.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the region is becoming more digitalized and uses the internet more frequently. Additionally, growing e-mail security issues and breaches are among the key drivers propelling the market in the area. Due to the existence of cutting-edge technology and organisations making significant investments in the spear phishing prevention market for the creation of various software solutions, the US holds the greatest market share in the North American area.

Key players in the market

Some of the key players profiled in the Spear Phishing Protection Market include Intel Corporation, BAE Systems, GreatHorn Inc., McAfee LLC, Barracuda Networks Inc., Mimecast Ltd., Symantec Corporation, Proofpoint, Inc., IronScales Ltd., Votiro Inc., Phishlabs, Microsoft Corporation, Cisco Systems Inc., RSA Security LLC, Trend Micro Incorporated and Check Point Software Technologies Ltd.

Key Developments:

In 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.

In 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.

Protection Types Covered:
• Social Engineering Protection
• Data Leak Protection
• Zero Day Prevention
• Email Encryption
• Ransomware Protection
• Denial of Service Attack Protection
• Multi Layered Malware Protection
• Other Protection Types

Components Covered:
• Services
• Solutions
• Other Components

Applications Covered:
• Government
• Telecommunication & IT
• Retail
• Transportation
• Education
• Healthcare
• Defense
• Banking, Financial Services and Insurance (BFSI)
• Media and Entertainment
• Other Applications

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 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

Table of Contents

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 Application 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 Protection Market, By Protection Type
5.1 Introduction
5.2 Social Engineering Protection
5.3 Data Leak Protection
5.4 Zero Day Prevention
5.5 Email Encryption
5.6 Ransomware Protection
5.7 Denial of Service Attack Protection
5.8 Multi Layered Malware Protection
5.9 Other Protection Types

6 Global Spear Phishing Protection Market, By Component
6.1 Introduction
6.2 Services
6.2.1 Manual or Managed
6.2.2 Professional
6.3 Solutions
6.3.1 On Premises
6.3.2 Cloud
6.3.3 Hybrid
6.4 Other Components

7 Global Spear Phishing Protection Market, By Application
7.1 Introduction
7.2 Government
7.3 Telecommunication & IT
7.4 Retail
7.5 Transportation
7.6 Education
7.7 Healthcare
7.8 Defense
7.9 Banking, Financial Services and Insurance (BFSI)
7.10 Media and Entertainment
7.11 Other Applications

8 Global Spear Phishing Protection Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa

9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies

10 Company Profiling
10.1 Intel Corporation
10.2 BAE Systems
10.3 GreatHorn Inc.
10.4 McAfee LLC
10.5 Barracuda Networks Inc.
10.6 Mimecast Ltd.
10.7 Symantec Corporation
10.8 Proofpoint, Inc.
10.9 IronScales Ltd.
10.10 Votiro Inc.
10.11 Phishlabs
10.12 Microsoft Corporation
10.13 Cisco Systems Inc.
10.14 RSA Security LLC
10.15 Trend Micro Incorporated
10.16 Check Point Software Technologies Ltd.

List of Tables
1 Global Spear Phishing Protection Market Outlook, By Region (2020-2028) ($MN)
2 Global Spear Phishing Protection Market Outlook, By Protection Type (2020-2028) ($MN)
3 Global Spear Phishing Protection Market Outlook, By Social Engineering Protection (2020-2028) ($MN)
4 Global Spear Phishing Protection Market Outlook, By Data Leak Protection (2020-2028) ($MN)
5 Global Spear Phishing Protection Market Outlook, By Zero Day Prevention (2020-2028) ($MN)
6 Global Spear Phishing Protection Market Outlook, By Email Encryption (2020-2028) ($MN)
7 Global Spear Phishing Protection Market Outlook, By Ransomware Protection (2020-2028) ($MN)
8 Global Spear Phishing Protection Market Outlook, By Denial of Service Attack Protection (2020-2028) ($MN)
9 Global Spear Phishing Protection Market Outlook, By Multi Layered Malware Protection (2020-2028) ($MN)
10 Global Spear Phishing Protection Market Outlook, By Other Protection Types (2020-2028) ($MN)
11 Global Spear Phishing Protection Market Outlook, By Component (2020-2028) ($MN)
12 Global Spear Phishing Protection Market Outlook, By Services (2020-2028) ($MN)
13 Global Spear Phishing Protection Market Outlook, By Manual or Managed (2020-2028) ($MN)
14 Global Spear Phishing Protection Market Outlook, By Professional (2020-2028) ($MN)
15 Global Spear Phishing Protection Market Outlook, By Solutions (2020-2028) ($MN)
16 Global Spear Phishing Protection Market Outlook, By On Premises (2020-2028) ($MN)
17 Global Spear Phishing Protection Market Outlook, By Cloud (2020-2028) ($MN)
18 Global Spear Phishing Protection Market Outlook, By Hybrid (2020-2028) ($MN)
19 Global Spear Phishing Protection Market Outlook, By Other Components (2020-2028) ($MN)
20 Global Spear Phishing Protection Market Outlook, By Application (2020-2028) ($MN)
21 Global Spear Phishing Protection Market Outlook, By Government (2020-2028) ($MN)
22 Global Spear Phishing Protection Market Outlook, By Telecommunication & IT (2020-2028) ($MN)
23 Global Spear Phishing Protection Market Outlook, By Retail (2020-2028) ($MN)
24 Global Spear Phishing Protection Market Outlook, By Transportation (2020-2028) ($MN)
25 Global Spear Phishing Protection Market Outlook, By Education (2020-2028) ($MN)
26 Global Spear Phishing Protection Market Outlook, By Healthcare (2020-2028) ($MN)
27 Global Spear Phishing Protection Market Outlook, By Defense (2020-2028) ($MN)
28 Global Spear Phishing Protection Market Outlook, By Banking, Financial Services and Insurance (BFSI) (2020-2028) ($MN)
29 Global Spear Phishing Protection Market Outlook, By Media and Entertainment (2020-2028) ($MN)
30 Global Spear Phishing Protection Market Outlook, By Other Applications (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at info@strategymrc.com

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