China Phishing Protection Market Set to Register Robust Growth: Forecast to grow at a CAGR of 9% by 2027

Published | 30 November 2021

China phishing protection market is growing at a high CAGR because of the increasing rate of phishing attacks in the country. Additionally, rapid digitization and growing adoption of advanced technologies, such as cloud computing, artificial intelligence (AI), etc., also favors the market’s growth…

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the China phishing protection market is estimated to grow at a CAGR of 9% during the forecast period. China phishing protection market is growing at a high rate because of the increasing rate of phishing attacks in the country, especially from cross-border countries. The Chinese government institution is significantly investing in phishing protection to protect sensitive data that can raise concerns associated with national security. Furthermore, rapid digitization and growing adoption of advanced technologies, such as cloud computing, artificial intelligence (AI), Internet of things (IoT), etc., is also increasing the risks of data theft, which is further fueling the growth of China phishing protection market. However, the lack of IT professionals specialized in phishing protection may act as a major restraining factor for the China phishing protection market.

Rapid Growth in Chinese Economy Boosting the China Phishing Protection Market

China is one of the fastest-growing economies in the world with rapid industrial development. Businesses and industries in China are multiplying at a high rate as the government focuses on diversifying sectors and businesses. The Chinese market has also established itself as a significant exporter of manufactured goods, giving the economy a significant boost. Throughout the past few years, China has invested heavily in the development of IT infrastructure, which is propelling the growth of the China phishing protection market.

Development in IT Infrastructure is Propelling the China Phishing Protection Market Growth

With the increasing adoption of advanced technologies, such as AI and IoT, the government and private players are significantly investing in developing IT infrastructure. The country has 47,000 data centers, with big players such as Huawei investing in the construction of data centers. To accelerate the adoption of advanced technologies, software companies are also launching new operating systems and software applications. This could increase the risk of phishing attacks, driving the market for phishing protection in China.

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The BFSI Sector Dominates the China Phishing Protection Market

Based on applications, the China phishing protection market is segmented into BFSI, education, government, healthcare, IT and telecom, transportation, retail, and others. The BFSI sector dominates the China phishing protection market due to the increasing penetration of online payment applications and internet banking, along with the surging volume of sensitive data, such as customer names, home addresses, payment card information, social security numbers, etc. The adoption of phishing protection is also gaining traction in the IT and telecom industry as enterprises are significantly investing in these services and solutions to protect their digital assets from potential attacks.

Impact of COVID-19 on China Phishing Protection Market

The China phishing protection market witnessed tremendous growth after the COVID-19 pandemic. Since the virus emerged from the country, the Chinese government had to impose a strict lockdown restriction to limit the virus spread and prevent the healthcare system from collapsing. The result was an increase in internet traffic and remote working, resulting in an increase in data volume. Due to this, phishing attacks, particularly via emails and social media, increased significantly over this period. Such increased risks prompted the organizations to deploy phishing protection solutions and services.

Competitive Landscape

The leading players in the 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 other prominent players.

The market is concentrated due to the presence of multinational phishing protection service providers, such as Cisco Systems, Inc., Intel Corporation, etc. The market players consistently focus on advancing their firewall and technology for the maximum protection of their clients. They also develop and design their solutions and services according to the requirements of various end-user industries. Furthermore, the adoption of competitive strategies, such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.

Don’t miss the business opportunity of the China phishing protection market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the China phishing protection market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the China phishing protection market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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