The phishing simulator market enables organisations to identify vulnerabilities to phishing attacks and enhance user security awareness. Phishing simulators help companies test how susceptible their employees are to realistic phishing threats by sending simulated phishing emails and measuring the response. The technology identifies at-risk individuals and evaluates the effectiveness of security awareness programs over time.
The Global phishing simulator market is estimated to be valued at US$ 149.83 Billion in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 To 2031.
Key Takeaways
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, and Greathorn. The key players are focusing on developing innovative phishing simulation solutions to identify more sophisticated attacks and enhance security awareness training.
The increasing instances of healthcare cyber breaches and data thefts are resulting in significant opportunities for phishing simulator vendors to provide targeted simulations and security awareness programs. Furthermore, growing digital transformation across industries is expanding the attack surface, driving the need for continuous security behavior change.
The phishing simulator vendors are focusing on global expansion plans to penetrate untapped markets such as Asia Pacific and Latin America. The growing cybersecurity budgets and data protection regulations in these regions will further aid the adoption of phishing simulation platforms.
Market drivers
Increasing healthcare cyber breaches - The healthcare industry remains one of the most targeted sectors for cybercriminals. The theft of healthcare data is proving to be lucrative for criminals. This is leading healthcare organizations to invest more in phishing simulator platforms to minimize vulnerabilities.
PEST Analysis
Political: Growth in Phishing Simulator Market Demand is positively impacted by stringent cybersecurity regulations around the world mandating organisations to conduct training and awareness programs.
Economic: Rising digital transformation across industries and increasing reliance on digital systems has boosted spending on cybersecurity solutions including phishing simulators for training employees.
Social: Younger workforce is more tech-savvy and comfortable with digital solutions. Phishing simulators provide interactive learning experience to train them on identifying phishing threats.
Technological: Advancement in artificial intelligence and machine learning has enabled phishing simulators to simulate realistic phishing attacks and evaluate individual and organisational vulnerability. Simulation of varying attack scenarios help assess security preparedness.
Geographical regions with concentrated market value
North America accounts for the largest share of the Phishing Simulator Market Size and Trends in terms of value, driven by stringent regulations and increasing cyber attacks targeting critical infrastructure and enterprises in the US and copyright. Europe is the second largest regional market due to growing awareness about risks of phishing and data protection laws.
Fastest growing region
The Asia Pacific region is poised to grow at the fastest pace, led by growing digitization, adoption of cloud technologies and mobile devices in major economies like China, India, Japan and Australia. Rapid expansion of SMEs requiring cost-effective cybersecurity solutions also contributes to market growth in the region.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)