by Phishing simulators are widely used software tools that help organizations test their employees’ vulnerability to phishing emails and threats. They allow security teams to launch mock phishing attacks and monitor which users click on malicious links or download infected attachments. These simulated phishing campaigns help identify gaps in employee cybersecurity awareness and training needs. With rising costs of data breaches and growing sophistication of cyberattacks, organizations across industries increasingly rely on phishing simulation programs to strengthen their defense against social engineering techniques. Phishing simulators have become an essential security resource for assessing phishing risks and making continuous improvements in user education.
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:
One of the key trends in the phishing simulator market is the growing adoption of AI and machine learning capabilities. Leading vendors are integrating advanced algorithms and predictive analytics into their software tools. This allows simulated phishing campaigns to become more realistic and customized according to individual employee roles, locations, previous training results, and other behavioral factors. AI-powered simulations can analyze user behaviors and click patterns to identify the most susceptible users in an organization. The AI technology also enables automated mitigation responses like alerts, blockades, and additional training requirements for at-risk users. Integration of AI is helping phishing simulation evolve from periodic awareness tests into continuous monitoring and protection solutions. Overall, AI-backed personalized simulations are gaining momentum due to their effectiveness in strengthening organizational security posture.
Porter’s Analysis
Threat of new entrants: New entrants will face high initial costs to enter the phishing simulator market as they will need to develop sophisticated simulation and training platforms. This poses a barrier.
Bargaining power of buyers: Buyers have moderate bargaining power in this market as there are many vendors providing similar phishing simulation solutions. However, switching costs are low.
Bargaining power of suppliers: Software and technology providers that supply key components for phishing simulation platforms do not have significant influence given the fragmented nature of suppliers.
Threat of new substitutes: There is a low threat of substitute products as phishing simulation is a unique approach to phishing awareness training. While other security awareness solutions exist, none can fully replace phishing simulations.
Competitive rivalry: The phishing simulator market features many players globally. Competition is high based on product offerings and pricing.
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.
North America currently dominates the market due to stringent data privacy regulations and an increasing number of cyber attacks. This is attributed to strict data privacy laws like the California Consumer Privacy Act (CCPA) enforcing the need for security training. Asia Pacific is expected to grow at the fastest rate during the forecast period fueled by increasing digitalization and the risk of cyber attacks in emerging economies.
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, Greathorn. KnowBe4 and Cofense (PhishMe) collectively hold over 30% of the market share.
