Spear Phishing Protection Market Size

Spear Phishing Protection Market size was valued at USD 1 Billion in 2023 and is likely to cross USD 2.72 Billion by the end of 2036, expanding at more than 8.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of spear phishing protection is assessed at USD 1.1 Billion. The growth of this market can be attributed to the increasing digitalization globally. Growing digitalization has given rise to criminal activities such as the misuse of someone’s data for malicious purposes. Many hackers nowadays are stealing confidential data from servers and selling that information in the market and making good money out of it. This is increasing criminal activities online, thus, the demand for spear phishing protection is estimated to rise in the forecast period. Around 237 million ransomware attacks took place globally in the first half of 2022.

On the other hand, spear phishing protection is used as a filter to delete unsolicited emails and also works as a shield against critical information from hackers. Growing adoption of cloud email security solutions, increasing cybercrime activities in end-user industries such banking sector, healthcare, defense, finance, and e-commerce sectors. In addition, the global rise in internet infiltration is also estimated to drive this market in the forecast period. The internet penetration rate in the Asia Pacific region went to 47% in 2021.