Phishing Simulator Market is Estimated to Witness High Growth Owing...

Phishing Simulator Market is Estimated to Witness High Growth Owing to Increased Awareness on Phishing Attacks

Posted 2024-10-03 11:13:17

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The phishing simulator market offers various products such as cloud-based and hybrid phishing simulators for creating phishing emails and websites to test and train employees against phishing attacks. These phishing simulations help organizations in improving awareness regarding phishing emails and educating employees to identify genuine emails from malicious ones. The phishing simulators help track the progress of employees over time and consolidate reporting on metrics like click rates and response times.

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 opportunities in the phishing simulator market include raising awareness about spear phishing threats, tracking employee engagement and behavior over phishing simulation exercises, and consolidating reporting.

Key technological advancements include advanced phishing email simulation templates, realistic phishing website design, content localization, integrated vulnerability assessment, and integration with secure email gateways and identity providers.

Market Drivers

The major market driver for Phishing Simulator Market Demand is the increased instances of phishing and ransomware attacks targeting remote employees. Various organizations implemented work from home during the pandemic which increased the risk of such cyberattacks. Phishing simulation solutions help enhance security posture of enterprises by testing employee behavior against simulated email threats. Stringent data privacy regulations also compel enterprises to conduct internal phishing exercises and training periodically. Growing investments in cybersecurity by organizations globally to mitigate information security risks also boost the demand for phishing simulators.