Global Phishing Protection Market is Forecast to Touch USD xx Billion by 2027, Growing at a CAGR of xx % From 2020 to 2027.
Published | 08 January 2021
According to BlueWeave Consulting, the Global Phishing Protection Market has reached USD xx Million in 2019 and is further projected to reach USD xx billion by 2027, growing at a CAGR of xx% during the forecast period. Phishing protection is the security measure taken by industries, companies, institutions, firms, households, to prevent the “phishing attacks''. Phishing is a form of cyber-crime, which gets to its prey (individuals) through the medium of email, telephone, or text message.
The surge in adoption of digitalization in the industry
Since the wave of digitization took place, everything and multiple sectors of labored works got compact and easier to access. The reason for it being is the fact that digitalization makes calculations, data entry & collection, etc. work faster and efficiently. However, the increase in phishing attacks via email and social media has surged. Leading to the loss or compromise of corporate secrets and financial loss. Therefore, the application of phishing protection is done, removing and protecting confidential information from all unauthorized, and unspecified, untrusted access in the systems. As per IBM’s Cost of Data Breach Report, the average cost of a data breach is 3.88 million USD, in which 90% of data breaches account for phishing.
Third world economies taking a rise in the market
A rise in the third worlds’ economies would drive the market expectedly as the investments made for the development of IT infrastructure are taking place in full swing. Because of the growing incidences of cybercrimes and cyber-attacks in countries such as India, China, Japan, and many South American regions. Furthermore, MEA (the Middle East and Africa) and South America are forecast to elevate the market for phishing protection. As the market across North America and Europe is mature then a more stable growth is much expected from these regions.
North America to be dominant in the market
As per the regional analysis, North America will have the greatest share amongst all. Due to the enhanced digitalization, smartphone usage, email users, remote location access users, IoT devices, etc. This specific region will lead because of high investments being done by top manufacturers in technological advancements of the entire cybersecurity system. And following recent trends in consumer acceptance of products is high there.
The leading players in the market for Global Phishing Protection Market are BAE Systems, Cisco Systems Inc., FireEye Inc., GreatHorn, Inc., Intel Corporation, Microsoft Corporation, Mimecast Ltd., Phishlabs, Proofpoint, Inc., Symantec Corporation, and among various others.
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The in-depth analysis of the report provides the growth potential, upcoming trends, and statistics of the Global Phishing Protection Market size & forecast. The report promises to provide state-of-the-art technology of the Global Phishing Protection Market and industry insights, which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the market drivers, challenges, and competitive analysis of the market.
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