According to a new report, published by KBV research, The Global Phishing Protection Market size is expected to reach $5.2 billion by 2030, rising at a market growth of 13.3% CAGR during the forecast period.
The Solution segment is showcasing a CAGR of 12.7 % during the forecast period. The solution segment often includes advanced email filtering capabilities. These systems scan inbound emails for phishing indicators, malicious attachments, and suspicious links. By filtering out potential threats at the gateway, organizations can prevent phishing emails from reaching users' inboxes, significantly reducing the risk of successful attacks. Solutions equipped with real-time incident response capabilities enable organizations to respond swiftly to phishing incidents. Automated response mechanisms can help contain the impact of a successful phishing attack, reducing the potential damage and minimizing the time it takes to mitigate the threat.
The Email-based Phishing segment generated the highest revenue in the Global Phishing Protection Market by Sub-type in 2022; thereby, achieving a market value of $3.7 billion by 2030. Phishers often use deceptive tactics to impersonate trusted entities, such as well-known brands, government agencies, or internal colleagues. Phishing attacks via email deceive recipients into providing sensitive information or performing malicious acts by using communications that appear to be from reputable sources. One of the primary objectives of email-based phishing is to harvest login credentials. Phishers create fake login pages or send emails with malicious links, leading users to counterfeit login portals. Once users enter their credentials, attackers capture this information for unauthorized access to accounts.
The Cloud segment is registering a CAGR of 14.5 % during the forecast period. Cloud-based phishing protection solutions can receive real-time updates and threat intelligence feeds. This ensures organizations are equipped with the latest information about emerging phishing threats. Cloud platforms enable rapid dissemination of updates across the entire network, enhancing the responsiveness of phishing protection measures. Cloud-based phishing protection facilitates centralized management and monitoring. Security teams can oversee the entire phishing protection infrastructure from a unified dashboard, ensuring consistent policy enforcement, incident response, and monitoring of phishing-related activities across the organization.
The Large Enterprises segment led the Global Phishing Protection Market by Enterprise Size in 2022; thereby, achieving a market value of $3.3 billion by 2030. Large enterprises engage in extensive digital communications, including email, collaboration platforms, and other communication channels. These communications' sheer volume and scale make them susceptible to phishing attacks. Comprehensive phishing protection solutions are required to secure these diverse communication channels. Large enterprises often operate globally with distributed workforces. This geographical diversity increases the attack surface for phishing threats. Phishing protection solutions that can adapt to the complexities of global operations, remote work, and diverse cultural contexts are essential for large enterprises.
The IT & ITeS segment is growing at a CAGR of 12.3 % during the forecast period. The IT & ITeS segment often deal with intellectual property, proprietary software, and confidential business information. Phishing attacks can compromise these assets, leading to financial losses and damage to competitive advantages. Phishing protection solutions safeguard against unauthorized access and theft of intellectual property. Often initiated through phishing vectors, ransomware attacks pose a significant threat to the IT & ITeS segment. Phishing protection solutions with robust anti-ransomware capabilities help organizations defend against ransomware attacks and prevent data extortion attempts.
Full Report: https://www.kbvresearch.com/phishing-protection-market/
The North America region dominated the Global Phishing Protection Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.8 billion by 2030. The Europe region is anticipated to grow at a CAGR of 12.9% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 14.2% during (2023 - 2030).
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