Spear Phishing Market is expected to grow to USD 1,401.6 million by 2022

LONDON, June 5, 2017 /PRNewswire/ -- Highlights

·         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.

·         North America is estimated to account for the largest share of the spear phishing market in 2017

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.


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.

North America is estimated to account for the largest share of the spear phishing market in 2017
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.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key industry people. The break-up of profiles of primary participants is given below:

• By Company Type: Tier 1: 17%, Tier 2: 33%, and Tier 3: 50%
• By Designation: C-level: 35%, Director level: 60%, and Others: 5%
• By Region: North America: 48%, Asia-Pacific: 17%, Europe: 35%

Key vendors profiled in the report are as follows:
1. Bae Systems PLC (U.K.)
2. Barracuda Networks, Inc. (U.S.)
3. Check Point Software Technologies Ltd. (U.S.)
4. Cisco Systems, Inc. (U.S.)
5. Forcepoint, LLC (U.S.)
6. GreatHorn, Inc. (U.S.)
7. Intel Security (U.S.)
8. Microsoft Corporation (U.S.)
9. Proofpoint (U.S.)
10. Rsa Security LLC (U.S.)
11. Sophos Ltd. (U.K.)
12. Symantec Corporation (U.S.)
13. Trend micro, Inc. (Japan)

Study Coverage:
This study provides a detailed segmentation of the spear phishing market on the basis of component, deployment type, organization size, vertical, and region.

Based on component, the spear phishing market is segmented into solutions and services. Based on deployment type, the spear phishing market has been segmented into on-premises, hybrid, and cloud. Based on organization size, the spear phishing market has been segmented into large enterprises and Small & Medium Enterprises (SMEs). Based on vertical type, the spear phishing market has been segmented into Banking, Financial Services, and Insurance (BFSI), government and defense, retail, healthcare, manufacturing, IT and telecommunication, media and entertainment, critical infrastructure, and others (others include transportation and educational facilities). Geographic analysis has been carried out for North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants in the following ways:
• To define, describe, and forecast the spear phishing market based on component, deployment type, organization size, vertical, and region
• To provide detailed information regarding major factors, such as drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the spear phishing market
• To analyze micromarkets with respect to individual growth trends and contribution made towards the overall market
• To analyze the opportunities in the market for stakeholders and offer details of competitive landscape for market leaders
• To forecast the market size of segments with respect to five main regions, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America
• To profile key players and comprehensively analyze their core competencies (includes innovation, quality, and customer experience)
• To track and analyze competitive developments, such as mergers & acquisitions, agreements & contracts, joint ventures, partnerships, and strategic alliances in the spear phishing market

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