China Phishing Protection Market is Forecast to Touch USD xx Billion by 2027, Growing at a CAGR of xx % From 2020 to 2027.

Published | 08 January 2021

According to BlueWeave Consulting, the China Phishing Protection Market reached USD xx Million in 2019 and is further anticipated to reach USD xx billion by 2027, growing at a CAGR of xx% during the forecast period. 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. Which results in the loss of financial, documental, and other significant assets.

“A rapid 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.

“Increased 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.

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.

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.

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The in-depth analysis of the report provides the growth potential, upcoming trends, and statistics of the China Phishing Market size & forecast. The report promises to provide state-of-the-art technology of the China Phishing Market and industry insights, which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the market drivers, challenges, and competitive analysis of the market.

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