July 19, 2024

AI-Powered Phishing Simulations To Boost Growth Of Phishing Simulator Market

The global Phishing Simulator Market is estimated to be valued at Us$ 93.30 Mn or 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:

The phishing simulator market consists of tools that help organizations simulate and test their employees for susceptibility to phishing attacks. Phishing simulators allow security teams to craft mock phishing campaigns and measure user response and behavior. They automate the testing process and generate detailed reports on individual and organizational vulnerability. This helps organizations identify weaknesses and further strengthen their security posture through awareness training. With rising cyber threats and data breaches, phishing simulators have become indispensable for companies looking to fortify their defenses against social engineering attacks.

Market key trends:

One of the key trends in the phishing simulator market is the increasing adoption of AI and machine learning capabilities. Vendors are integrating these technologies to enhance the realism and complexity of phishing simulations. AI helps automate many routine tasks like generating personalized mock emails and selecting appropriate lures. It also allows security teams to analyze user response patterns at scale and identify those most vulnerable. With their ability to mimic human behavior, AI-powered phishing simulations provide a more accurate evaluation of an organization’s security preparedness. This data-driven approach improves awareness training efficacy, which is a major factor driving the growth of the overall market.

Porter’s Analysis

– Threat of new entrants: Low barriers to entry pose as a threat to existing competitors in the phishing simulator market. New startups can easily launch similar products.

– Bargaining power of buyers: Buyers have high bargaining power. Organizations can switch between vendors providing similar phishing simulator solutions at competitive prices.

– Bargaining power of suppliers: A few large suppliers exist for specific components, but they face low switching costs. This keeps supplier power in check.

– Threat of new substitutes: Similar cybersecurity solutions from competitors pose a threat. However, phishing simulation provides unique training capabilities.

– Competitive rivalry: Intense competition exists among numerous vendors providing phishing simulation platforms and services. Price wars and new product innovations increase rivalry.

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 demand for effective security awareness training in organizations.

– North America dominated the market in 2023, accounting for over 35% of global revenue, due to stringent data protection regulations and extensive adoption of cybersecurity solutions among enterprises. Asia Pacific is expected to be the fastest growing region, growing at a CAGR of around 9% during the forecast period due to increasing investments in digital technologies by businesses.

– 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 Infosec Institute captured significant market shares through innovative product offerings and global customer base.

*Note:

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