Phishing Simulator is Estimated to Witness High Growth Owing to Growing Need to Identify Cybersecurity Risks
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| Phishing Simulator Market |
Phishing Simulator enables
organizations to train employees about how to identify malicious phishing
emails and avoid data breaches and cyber threats. Phishing Simulator solutions
provide simulated phishing attacks coupled with automated training modules that
enable enterprises to enhance employee security awareness. The solutions help
identify unsafe behaviors and reduce the risks of brand and data damage from
phishing attacks.
The global Phishing Simulator
Market is estimated to be valued at US$ 93.3 Mn in 2023 and is expected to
exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in
a new report published by Coherent Market Insights.
Market key trends:
Increasing number of cyber
threats and online frauds have accelerated the adoption of Phishing Simulator
solutions across industries. Phishing remains one of the most common vectors
for cyber attacks. As per various studies, over 90% of major cyber attacks have
involved phishing. Phishing Simulator solutions have emerged as an effective
preventive measure that detects phishing prone behaviors and provides necessary
training to avoid such attacks. The increasing focus of enterprises towards
security awareness programs along with stringent data privacy regulations being
enforced is expected to drive the demand for Phishing Simulator solutions over
the forecast period.
Segment Analysis
The global phishing simulator
market is dominated by phishing security training segment. This segment held
over 40% market share in 2023 as majority of organizations are using phishing
simulator tools and services to provide security awareness training and test
employees against simulated phishing attacks. These training programs help
identify vulnerabilities and protect organizations from data breaches.
Key Takeaways
The Global
Phishing Simulator Market Size is expected to witness high growth over
the forecast period of 2023 to 2030. The global Phishing Simulator Market is
estimated to be valued at US$ 93.3 Mn in 2023 and is expected to exhibit a CAGR
of 9.0% over the forecast period 2023 to 2030.
Regional analysis indicates that North America currently holds the
largest share of over 35% of the phishing simulator market. Rapid digitization
of enterprises and strict cybersecurity regulations in the US and Canada are
driving the demand for phishing simulation tools in the region. Europe is the
second largest market and is expected to grow at a CAGR of around 9% during the
forecast period. Presence of large number of IT companies and focus on
cybersecurity by European Union are fueling the demand. The UK, Germany and
France contribute over 60% of Europe's phishing simulator market revenue. Asia
Pacific is expected fastest growing market, especially countries like India and
China are expected to offer lucrative opportunities for phishing simulation
vendors. Increasing instances of phishing attacks targeted at stealing
sensitive data from individuals and enterprises are driving phishing security
investments across Asia Pacific region.
Key players operating in the phishing simulator market are
Ironscales, Cofense (PhishMe), Infosec Institute, KnowBe4, PhishLabs, Wombat
Security Technologies, Barracuda Networks, Mimecast, Proofpoint, CyberFish,
DataEndure, FireEye, Smooth Phish, Votiro, XM Cyber, Lucidworks, Digital
Defense, Getlabs, Avanan, Greathorn. Some of the key strategies adopted by
players are new product launches, collaborations and partnerships to expand
their geographic presence. For instance, in 2022, Cofense (PhishMe) partnered
with D3 Security to integrate phishing defense offerings and strengthens its
anti-phishing capabilities.
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https://www.newsstatix.com/phishing-simulator-market-size-share-growth-outlook-2023/
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