December 7, 2023
Phishing Simulator Market

North America Contributes A Major Share To The Global Phishing Simulator Market

The global phishing simulator Market is estimated to be valued at US$ 93.3 million in 2022 and is expected to exhibit a CAGR of 7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
The phishing simulator market consists of software tools that are used to conduct simulated phishing attacks and security awareness training for organizations. These tools help assess how susceptible employees are to phishing attacks by sending simulated phishing emails and measuring click rates. They also provide security awareness modules andtraining material to educate employees on identifying phishing scams and threats. Phishing simulator solutions offer significant advantages over traditional security awareness programs like lower costs and time requirements.

Market key trends:

One of the major trends in the phishing simulator market is the increasing adoption of these solutions by small and medium enterprises. Previously, large enterprises dominated the market owing to their bigger security budgets. However, growing cyber threats and stringent data privacy regulations have now driven even small businesses to invest in security awareness training. Phishing simulator vendors are recognizing this opportunity and offering affordable pricing and tailor-made packages targeted at SMEs to expand their customer base. This is expected to significantly contribute to the market growth over the forecast period.

Segment Analysis
The phishing simulator market is segmented by component, deployment mode, organization size, industry vertical, and geography. By component, the software segment dominated the market with a share of over 60% in 2023. The widespread adoption of phishing simulation software among enterprises to identify vulnerabilities and train employees against phishing attacks through simulated mock scenarios has aided the segment’s large market share.

By deployment mode, the cloud segment is expected to be the fastest growing segment between 2023-2030. The advantage of delivering phishing simulations as a service and eliminating the need for infrastructure set up and management is driving the cloud segment’s adoption among enterprises.

Key Takeaways
Global Phishing Simulator Market Size is expected to witness high growth, exhibiting a CAGR of 7% over the forecast period from 2023 to 2030, due to increasing concerns around data breaches caused by phishing attacks and growing investments in security awareness training programs.

Regional analysis: North America dominated the market with over 35% share in 2023 owing to stringent data privacy regulations and rising number of spear phishing attacks targeting organizations in the region. Europe is projected to be the fastest growing regional market between 2023-2030 backed by increasing adoption of BYOD practices that require enhanced phishing defenses.

Key players: 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. KnowBe4 and Cofense together hold over 25% market share due to their technologically advanced phishing simulation platforms and global customer base of enterprise organizations.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it