Spear Phishing Protection Market is Driven by Increasing Cyber-Attacks

According to a new market research report published by Brisk Insights “Global Spear Phishing Protection Market by Component  (Solutions (Cloud, Hybrid, and On-Premise) and Services (Professional and Managed)); Protection Type (Data Leak Protection, Email Encryption, Multi-Layered Malware Protection, Social Engineering Protection, Zero Day Prevention, Denial of Service Attack Protection, and Ransomware Protection); End-User (BFSI, Defense, Healthcare, Government, Retail, Telecommunication, Media and Entertainment, Transportation, and Others) – Growth, Future Prospects, and Competitive Analysis,2019 - 2027”, the overall spear phishing protection market has been registered a market value of US$ 923.65 Mn in 2018 and is set to grow with a CAGR of 11.60 % during the forecast period. 

Market Insights

The advancement in technology has led to the development of new solutions against breaches and cyber-attacks. Traditional security is unable to detect and protect these attacks due to their programming. Similarly, pear phishing attacks use malware to hack the user's computer, causing a huge loss to the companies and organization due to leakage of critical data and information, even these attacks will allow the hacker to manipulate the data and others sensitive information related to a company.

Based on the industry, the spear phishing protection market has been segmented as BFSI,  defense, healthcare, government, retail, telecommunication, media and entertainment, transportation, and others. The BFSI is considered to hold the largest market share as the finance and bank companies share continuous e-mails with the clients, customers and organizations associated with sensitive information that can be hacked or stolen, causing losses to the companies. These rising cyber-attacks is one of the major factors which is driving the segment across the globe.

Cloud based segment will show promising growth in the near future. Advancement in data visualization services data analytics to detect and disclose attack campaigns, the source of attacks, and targeted users will further spur revenue growth during the forecast period. Increase in internet permeation and high investment in data security in government telecommunication, healthcare, and public/private sector enhance the market growth prospect for spear phishing market in the near future. Top market challenges include, increased dark web community, point of sale fraud, ransomware, web application compromise, Inventory shrinkage and store-based theft and others.

Browse the full report at https://www.briskinsights.com/report/spear-phishing-protection-market

According to Trend Micro Incorporated, around US$100 – 300 billion estimated losses financial institutions can potentially incur every year from cyberattacks. Attackers have enhanced their breach, are more fueled by preceding high-profile attacks, keen consumer awareness on cyber breaches, and continuously refining cyber security tools protecting secured sensitive client identifications and permits. The growing cyber attacks and malawares, increased awareness among the financial institutions, law firms, and advancement in cloud based platforms in the professional services industry will drive the market growth during the forecast period.

Asia-Pacific is expected to be the fastest-growing region during the forecast period for the spear phishing protection market during 2018 and was expected to grow with a significant market CAGR during the forecast period due to growing digitalization in the Asian countries. Moreover, the rising number of BFSI, IT & Telecom, healthcare and other industries in the region are also contributing to the growth of the market due to increasing cyber-attacks across the region. Similarly, the increasing internet users in the region also plays a vital role in the growth of the market. 

Top Players:

• Cisco Systems Inc.
• Votiro Inc.
• IronScales Ltd.
• GreatHorn Inc.
• Check Point Software Technologies Ltd.
• Forcepoint
• Sophos Ltd.
• McAfee LLC
• Barracuda Networks Inc.
• BAE Systems
• RSA Security LLC
• Intel Corporation
• AO Kaspersky Lab
• Bitdefender
• Avira Operations

The Global Spear Phishing Protection Market is Segmented into:

*Complete segmentation list is on report page