February 24, 2024
Global Phishing Simulator Market

The Phishing Simulator Market Is Expected To Be Flourished By Increasing Cybersecurity Awareness

The phishing simulator market allows organizations to test their employees’ vulnerability to sophisticated phishing attacks. Phishing simulators help companies identify at-risk employees through simulated phishing campaigns and tailor ongoing security awareness training. Phishing attacks have seen a sharp rise in recent years due to increased digitalization and remote working models. Phishing simulators play a crucial role in assessing how susceptible an organization is to these attacks by replicating realistic phishing sites and emails. They also provide granular reporting on which employees clicked on the simulated phishing links or opened attachments along with the rate of such responses.

The global phishing simulator market is estimated to be valued at US$ 107.49 Billion in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Increasing cybersecurity awareness among organizations regarding the need to test and train employees against phishing attacks is expected to drive the phishing simulator market over the forecast period. Phishing simulators offer customized simulations to educate employees about malicious phishing communications while also providing actionable insights into an organization’s overall cybersecurity posture. They help improve an organization’s ability to prevent data breaches by identifying vulnerabilities and ensuring employees can recognize and avoid phishing scams. Regular awareness training using phishing simulations strengthens an organization’s security culture and significantly reduces its susceptibility to these attacks. The growing sophistication of phishing attacks further boosts the need to assess email security policies and reinforce employee training through simulated phishing exercises.

Segment Analysis

The Phishing Simulator market can be segmented into threat type, end-user, and region. Based on threat type, the market is dominated by vishing (voice phishing) sub-segment. Vishing attacks target are designed to steal financial data, account credentials, and personally identifiable information (PII) by tricking users into sharing confidential information over the phone. Vishing scams impersonate banks, credit card companies, tech support, and government agencies, using authentic looking phone numbers to convince victims of their legitimacy. Based on end-users, the corporate sub-segment dominates owing to increased adoption of phishing simulation training programs by large enterprises to educate their employees about phishing attacks and strengthen their cybersecurity posture.

PEST Analysis

Political: Stringent data protection laws across regions have increased compliance burden on organizations, driving demand for phishing simulators to educate employees on cyber threats.

Economic: High digital transformation spending and growing threat of cyberattacks have propelled organizations to invest more in awareness and training programs.

Social: Increased time spent online and rise of work from home culture amid pandemic have expanded the attack surface for cybercriminals, necessitating security awareness.

Technological: Advancements in artificial intelligence and machine learning have enabled phishing simulators to conduct more realistic training sessions and evaluate user behavior.

Key Takeaways

Global Phishing Simulator Market Size  is expected to witness high growth over the forecast period. The global phishing simulator market is estimated to be valued at US$ 107.49 Billion in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2031.

Regional analysis shows North America dominating currently owing to stringent regulations and high awareness. Europe is another major region driven by GDPR norms. Asia Pacific is expected to grow at fastest pace with increasing digitalization and security spending in countries like India and China.

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. Key players are focusing on product innovations through advanced technology integrations and expanding into growing regional markets.

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