China Phishing Protection Market

China Phishing Protection Market, By Type (Email based Phishing, Non Email based Phishing), By Application (BFSI, Education, Government, Healthcare, IT, Telecommunication, Transportation, Retail), Trend Analysis, Competitive Market Share & Forecast, 2020-2027

  • Published Date: January 2021
  • Report ID: BWC20250
  • Available Format: PDF
  • Page: 178

Report Overview

China Phishing Protection Market Size – Industry Trends & Forecast Report 2027

China Phishing Protection market size was calculated to be USD xx billion in 2019 and is expected to take a rise at a CAGR of xx% till 2027 with a calculated value of USD xx till the forecast year. The China market’s growth is credited to the industries’ increasing adoption of the IT structure and online networking. Which would be evident in the forecast period.

 

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China Phishing Protection Market Overview

Phishing protection is a security measure taken by industries, companies, institutions, firms, households, to prevent the “phishing attacks''. Phishing is a type of cyber-crime, in which an individual/team of scammers gets to its prey (individuals) through the medium of email, telephone, or text message. The predator or the individual (team of scammers) poses as someone entirely different; mostly as a legitimate body to lure in prey/individuals. So that to get sensitive personal or financial data, such as bank & credit card details, identity card (used for identity theft), pin codes & passcodes, residential & work address, etc. The obtained information is then used to access important accounts, cards’ details, passwords, social security numbers, etc. leading to access to important accounts and information which results in financial loss, identity theft & theft of personal or professional data.

China Phishing Protection Market Forecast and Trends

Growth Drivers

A rise in the economy

As the escalation in the developing countries is taking place, subsequent growth is taking place in the market. Since the evolution of industrial development taking place in China, a lot of sectors, segments, and businesses have risen; Giving maximum to the economy as the import and export of goods has increased. In the recent past years with all this, the investments made for the development of IT infrastructure are taking place in full swing in China. The region has become a hub for manufacturing goods, expanding to the other vertices such as app development, software, etc. Hence, the growing incidences of cybercrimes and cyber-attacks are forecast to elevate the market for phishing protection.

A surge in adoption of digitalization in the industry

With the wave of digitization taking place, multiple sectors of labored works got compact and easier to access. Because digitalization makes calculations, data entry & collection, etc. to be carried out efficiently and effectively. Moreover, the elevation in phishing attacks via email and social media has surged. Resulting in losses or compromises of corporate secrets and financial dips. Application of phishing protection is done to remove and protect confidential information from all unauthorized, and unspecified, untrusted access in the system. In the recent IBM Cost of Data Breach Report, the average cost of a data breach is 3.88 million USD, in which 90% of data breaches are done by phishing. Also, phishing attacks via Webmail and Online Services have inclined from 12% to 26% in past few years. It is a clear indication of the fact that services such as phishing protection would be required crucially and fundamentally in the upcoming span of the forecast period.

Restraint

Absence of relevant knowledge and understanding of Cyber threats and terrorism

The China market is keeping on growing in every vertical, with it the requirement for suitable candidates and operators is growing too. Individuals with relevant knowledge and understanding of several cyber-attacks & threats are required crucially for the proper functioning of the protection from phishing in industries. But, the lack of knowledge will/ is expected to hamper the market growth, as the targeted individuals barely have prior information regarding the existence of such related scams and end up falling prey to it. In a study, it was found out that most of the hackers or phishing bodies are focusing or targeting the real estate sector, through emails. Also, the percentage of transactions that took place due to this activity between the years 2015-2017 was as high as 1100%, with a nearly 2200% increase in monetary loss.

Impact of COVID 19 on China Phishing Protection Market

The COVID 19 pandemic did pose a risk of increased cyber-attacks due to high dependency on IT infrastructure, digital tools, cloud computing, network/connectivity-based completion of tasks, etc. And as a matter of fact, the pandemic did take place from China itself, and the region has to follow stringent regulations before anyone else. Causing the lock-offs and shut down of multiple industries and businesses. Forcing many to deliver work from home amidst which cybersecurity attacks drastically increased. Enlarging figures of phishing scams have made hacking campaign measures taken in regions like China to be taken more seriously. Which have caused elevated scrutiny for the identity verification purpose requirements.

China Phishing Protection Market: By Type

Based on type, the China phishing protection market is segmented into Email based Phishing and Non-Email-based Phishing. On comparing, in the initial stages of this decade, email-based phishing was at its peak with the new introduction of the internet over households it became easier for hackers to connect with their targets. Cause most people were unaware of the internet-based technicalities. But as the anti-virus, anti-hacking, and phishing protection schemes are getting popular. Therefore, the market is likely to grow in this particular segment because the majority of the communications are done in emails nowadays.

China Phishing Protection Market: By Application

By application, the market is divided into verticals such as BFSI, Education, Government, Healthcare, IT, Telecommunication, Transportation, and Retail. The gigantic rise in internet penetration and investment in data security in the fronts like telecommunications, healthcare, IT, government, public, and the residential sector has given an opportunity to the phishing protection market. Making Phishing protection solutions and services to be used increasingly by the enterprise sector to protect their digital assets from spam and thefts by providing email encryptions, email archiving, and prevention of data loss-aiding the relevant market with growth over the projected timespan.

Recent Developments

      In December of 2020, IBM Security X-Force initiated a threat intelligence task force dedicated to tracking down COVID-19 cyber threats against organizations that are keeping the vaccine supply chain working. As a result of which, the X-Force team was able to uncover a global phishing campaign targeting organizations associated with a COVID-19 cold chain. “Cold chain is a component of the vaccine supply chain that ensures the safe preservation of vaccines in temperature-regulated environments during their storage and transportation.”

      In September of 2020, the cloud-linked email security solution GreatHorn announced the launch of its most substantial and comprehensive platform update. The entirely refreshed solution offers more expansive visibility across the entire email security stack for an even more intelligent phishing detection and response capability.

 

Competitive Landscape

The leading players in the market for China Phishing Protection Market are BAE Systems, Cisco Systems Inc., FireEye Inc., GreatHorn, Inc., Intel Corporation, Microsoft Corporation, Mimecast Ltd., Phishlabs, Proofpoint, Inc., Symantec Corporation, and among various others.

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2016-2019

Base Year – 2020

Forecast – 2020 – 2027

Facts Covered

Revenue in USD Billion

Market Coverage

China

Product/Service Segmentation

By Type, By Application

Key Players

BAE Systems, Cisco Systems Inc., FireEye Inc., GreatHorn, Inc., Intel Corporation, Microsoft Corporation, Mimecast Ltd., Phishlabs, Proofpoint, Inc., Symantec Corporation, and among various others.

Scope of the Report

By Type

      Email-based Phishing

      Non Email based Phishing

By Application

      BFSI

      Education

      Government

      Healthcare

      IT

      Telecommunication

      Transportation

      Retail