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: November 2021
- Report ID: BWC20250
- Available Format: PDF
- Page: 117
Report Overview
China phishing protection market is driven by the increasing use of IT infrastructure and online networking in business operations. As a result of remote working, the increasing volume of cloud data and growing dependence on remote access also favor market growth.China Phishing Protection Market- Industry Trends & Forecast Report 2027
The China phishing protection market is estimated to grow at a CAGR of 9.0% during the forecast period (2021-2027). The growth of the phishing protection market in China can be attributed to the increasing adoption of IT infrastructure and online networking in business operations. Furthermore, the increasing volume of cloud data and growing dependence on remote access due to the remote working scenario is anticipated to drive the market during the forecast period.
China Phishing Protection Market- Overview
Phishing protection is a security measure taken by industries, companies, institutions, firms, households, to prevent “phishing attacks''. Phishing is a type of cyber-crime, in which an individual/team of scammers gets to its prey (internet users) through the medium of email, telephone, or text message. Predators or individual scammers often pose as someone else to obtain sensitive information about an individual. The obtained information is then used to access important accounts, card details, passwords, social security numbers, etc., thereby causing financial loss, identity theft, and personal or professional data theft.
China Phishing Protection Market Forecast and Trends
Growth Drivers
Increasing Cases of Phishing Attacks
In a study, it was found out that most of the hackers or phishing bodies are focusing or targeting China’s 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. As a result, various companies are now deploying significant capital into the adoption of phishing protection solutions and services to protect their as well as their customer’s crucial data, which is anticipated to boost the China phishing protection market during the forecast period.
Rapid Digitization Across Various Industry Verticals
Among the major factors driving market growth is the rapid digitization of business processes and the increasing use of advanced technologies, such as IoT and AI, by Chinese enterprises. Digitalization allows hackers to gain access to more information, resulting in losses or compromises of corporate secrets and financial losses. Therefore, the government and private corporations and individuals are increasingly investing in phishing protection to remove and protect confidential information from unauthorized and unspecified, untrusted access in the system.
Restraints
Absence of Skilled IT Experts and Understanding of Cyber Threats and Terrorism
Establishing and maintaining phishing protection in industries requires individuals familiar with various cyber-attacks and threats. The shortage of IT experts in the country, however, is expected to hamper the market growth. Phishing attacks are becoming more sophisticated and frequent in China. In addition, the country is also experiencing a substantial number of phishing attacks from other countries. As a result, using outdated solutions will not do any good. This may lead to severe losses for China's phishing protection market.
Impact of COVID-19 on China Phishing Protection Market
Phishing is already one of the most commonly used forms of cyber-attack. However, the number of phishing attacks gained a tremendous surge after the COVID-19 pandemic. With the surge in internet traffic and data volume, along with the significant rise in personal data online, the attackers started targeting both organizations and individuals alike to gain confidential information, such as remote access to sensitive data or databases, pass-codes, etc. Consequently, companies of all sizes started investing in phishing protection to ensure a higher level of security for identity verification.
China Phishing Protection Market - By Type
Based on types, the China phishing protection market is segmented into email-based phishing and non-email-based phishing. Email-based phishing was popular in the market over the past few decades due to the introduction of e-mail services and their use among the general public. However, with the tremendous surge in the messaging apps in the Chinese market and growing penetration of social media apps, such as WeChat, Weibo, QQ, Douyin, etc., phishers have turned to text services (called smishing), phone calls (called vishing), and social media apps for attacking vulnerable users.
China Phishing Protection Market - By Application
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.
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. Market players focus on advancing their firewall technology to provide maximum protection to their clients. They also design and develop their solutions and services according to the needs of different end-user industries. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Recent Development
- In February 2018, DataVisor, a fraud detection software, announced to have raised USD 40 million in a round led by Sequoia Capital China, along with other investors, including New Enterprise Associates (NEA) and GSR Ventures.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 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 other prominent players. |
By Type
- Email-based Phishing
- Non-Email-based Phishing
By Application
- BFSI
- Education
- Government
- Healthcare
- IT and Telecom
- Transportation
- Retail
- Others
- Research Framework
- Research Objective
- Product Overview
- Key Market Segments
- Research Methodology
- Qualitative Research
- Methodology
- Regional Split of Primary & Secondary Research
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Breakdown of Primary Research Respondents, By Industry Participants
- Market Size Estimation
- Assumptions for the Study
- Market Breakdown & Data Triangulation
- Executive Summary
- Industry Insight and Growth Strategy
- Value Chain Analysis
- DROC Analysis
- Market Drivers
- Increasing Cases of Phishing Attacks
- Rapid Digitization Across Various Industry Verticals
- Market Restraints
- Absence of Skilled IT Experts and Understanding of Cyber Threats and Terrorism
- Market Challenges
- Limited Current IT Infrastructure of the Country
- Market Opportunity
- Rapid Growth in Chinese Economy
- Development in IT Infrastructure
- Market Drivers
- Recent Developments
- Porter’s Five Forces Analysis
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Intensity of Rivalry
- Threat of New Entrants
- Threat of Substitutes
- China Phishing Protection Market Overview
- Market Size & Forecast by Value, 2017-2027
- Market Size and Forecast, By Segment
- By Type
- Email based Phishing
- Non-Email based Phishing
- By Application
- BFSI
- Education
- Government
- Healthcare
- IT and Telecom
- Transportation
- Retail
- Others
- By Type
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share Analysis (2020)
- Competitive Benchmarking by Operating Parameters
- Impact of COVID-19 on China Phishing Protection Market
- Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- BAE Systems
- Cisco Systems Inc.
- FireEye Inc.
- GreatHorn Inc.
- Intel Corporation
- Microsoft Corporation
- Mimecast Ltd.
- Phishlabs
- Proofpoint Inc.
- Symantec Corporation
- Other Prominent Players
- Key Strategic Recommendations
List of Figures
Figure 1: China Phishing Protection Market Segmentation
Figure 2: China Phishing Protection Market Value Chain Analysis,
Figure 3: Company Market Share Analysis, 2020
Figure 4: China Phishing Protection Market Size, By Value (USD Billion), 2017-2027
Figure 5: China Phishing Protection Market Share (%), By Type, By Value, 2017-2027
Figure 6: China Phishing Protection Market Share (%), By Application, By Value, 2017-2027
List of Tables
Table 1: China Phishing Protection Market Size, By Type, By Value, 2017-2027
Table 2: China Phishing Protection Market Size, By Application, By Value (USD Billion), 2017-2027
Table 3: BAE Systems Financial Analysis
Table 4: BAE Systems Business Overview
Table 5: Cisco Systems Inc. Financial Analysis
Table 6: Cisco Systems Inc. Business Overview
Table 7: FireEye Inc. Financial Analysis
Table 8: FireEye Inc. Business Overview
Table 9: GreatHorn Inc. Financial Analysis
Table 10: GreatHorn Inc. Business Overview
Table 11: Intel Corporation Financial Analysis
Table 12: Intel Corporation Business Overview
Table 13: Microsoft Corporation Financial Analysis
Table 14: Microsoft Corporation Business Overview
Table 15: Mimecast Ltd. Financial Analysis
Table 16: Mimecast Ltd. Business Overview
Table 17: Phishlabs Financial Analysis
Table 18: Phishlabs Business Overview
Table 19: Proofpoint Inc. Financial Analysis
Table 20: Proofpoint Inc. Business Overview
Table 21: Symantec Corporation Financial Analysis
Table 22: Symantec Corporation Business Overview
Market Segmentation
By Type
- Email-based Phishing
- Non-Email-based Phishing
By Application
- BFSI
- Education
- Government
- Healthcare
- IT and Telecom
- Transportation
- Retail
- Others
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