The spear phishing market is projected to grow from an estimated USD 840.70 Million in 2017 to USD 1,401.6 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 10.8% during the period 2017–2022.
Seattle, WA -- (SBWIRE) -- 09/07/2017 -- According to a new market research report "Spear Phishing Market by Component (Solutions, Services), Deployment Type (Cloud, Hybrid, On-Premises), Organization Size (SMEs, Large Enterprises), Vertical (BFSI, Government & Defense, Critical Infrastructure), and Region - Global Forecast to 2022", published by MarketsandMarkets™, 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% from 2017 to 2022.
Browse 47 market data tables and 69 figures spread through 127 pages and in-depth TOC on "Spear Phishing Market by Component (Solutions, Services), Deployment Type (Cloud, Hybrid, On-Premises), Organization Size (SMEs, Large Enterprises), Vertical (BFSI, Government & Defense, Critical Infrastructure), and Region - Global Forecast to 2022"
The market is primarily driven by the increasing spear phishing attacks, increasing adoption of BYOD policy in organizations and the growth of cloud email security solutions. Moreover, rising cyber threats to critical infrastructure, and the growing volume of digital data, is driving the adoption of spear phishing solutions.
Based on component, the solutions segment is expected to grow at the highest CAGR during the forecast period
Based on component, the spear phishing market has been segmented into solutions and services. The solutions segment is expected to grow at the highest CAGR from 2017 to 2022. Solutions provide filtering spam, data loss prevention, email encryption, threat intelligence, email archiving, and alerts for malware attacks, which is driving the growth of the solutions segment of the spear phishing market.
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Based on vertical, the critical infrastructure segment is projected to grow at the highest CAGR during the forecast period
Based on vertical, the critical infrastructure segment is estimated to grow at the highest CAGR in the spear phishing market. The critical infrastructure industry vertical includes energy grid plants, nuclear plants, and water facilities. The demand in this segment can be primarily attributed to the rise in investments for technological and security based solutions.
Latin America spear phishing market estimated to grow at the highest CAGR during the forecast period
The spear phishing market has been studied for North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The highest growth rate of the Latin America region can be attributed to the increasing use of mobile devices in this region, as also rise in demand for solutions from BFSI and other verticals is driving the spear phishing market in this region. Countries such as Mexico, Brazil, Argentina, Chile, Panama, and Venezuela are expected to witness high growth rates in the spear phishing market.
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Major players in this market include Bae Systems PLC (U.K.), Barracuda Networks, Inc. (U.S.), Cisco Systems, Inc (U.S.), Forcepoint, LLC (U.S.), GreatHorn, Inc. (U.S.), Intel Security (U.S.), Microsoft Corporation (U.S.), and Proofpoint, Inc. (U.S.), among others.
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