by The Phishing Simulator Market is estimated to be valued at Us$ 93.30 Mn or Mn in 2023 and is expected to exhibit a CAGR Of 7.0% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Phishing simulation tools help organizations identify potentially susceptible employees by replicating phishing attacks and measure their response and behavior. These solutions play a crucial role in training employees to recognize and avoid malicious emails and websites. They create simulated phishing emails and analyze how users respond. The tools then provide customizable reporting and remedial training to educate employees on cyber threats. They help enterprises boost security awareness across the workforce and lower organizational risks.
Market Dynamics:
One of the major drivers fostering the phishing simulator market growth is the rising instances of phishing attacks targeting enterprises. Cybercriminals regularly employ sophisticated social engineering techniques to steal sensitive information like login credentials or install malware. This has bolstered the adoption of employee security awareness programs featuring simulated phishing tests. Additionally, the increasing digitization of business processes amid remote working trends is prompting companies to strengthen their defenses against evolving cyber risks. Phishing simulation solutions help them proactively identify vulnerabilities and ensure personnel do not fall for online scams. These tools aid organizations in enhancing preparedness for advanced threats while cultivating a robust security culture.
Segment Analysis
The phishing simulator market can be segmented based on component, type and end-use. One of the dominating segments in the market is phishing kit detection and prevention as phishing continues to pose security threats for organizations. Phishing kit detection and prevention software and tools help organizations detect and prevent cybercriminals from using phishing kits by analyzing URLs, IP addresses and websites that facilitate simulated phishing campaigns.
PEST Analysis
Political: Regulations around data privacy and cyber security have increased the need for organizations to assess their susceptibility to phishing attacks and train employees on security awareness.
Economic: The growing costs of actual phishing attacks and business disruptions have encouraged organizations to invest in phishing simulator platforms for risk assessment and training.
Social: Increased online activities and digital dependencies have amplified the risks of individuals falling for phishing scams, driving the demand for security awareness training tools.
Technological: Advancements in artificial intelligence and machine learning have enabled phishing simulator platforms to simulate more realistic attacks and track user behavior for insights to strengthen security postures.
Key Takeaways
The Global Phishing Simulator Market Demand is expected to witness high growth, exhibiting CAGR of 7.0% over the forecast period, due to increasing investments by organizations in security awareness training and risk assessment of employees. The North America region dominated the market in 2023 with a market share of over 35%, driven by stringent data privacy regulations and focus on security preparedness among enterprises.
Regional analysis
The North American region is expected to dominate the phishing simulator market during the forecast period. This is attributed to robust regulations around data privacy such as GDPR and CCPA which have increased the need for compliance and security preparedness across organizations based in the US and Canada.
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 PhishLabs are market leaders in phishing simulation software due to their comprehensive suite of tools for assessing risk through simulated attacks, reporting and tracking user response and behavior, and developing customized training programs.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
