In December 2023, around 9.45 million phishing e-mails were detected worldwide, up from 5.59 million in September 2023. This figure has seen a continuous increase since January 2022. It is partially associated with the launch of ChatGPT in November 2022.

In 2024, over 193,000 individuals in the United States reported encountering phishing attacks. This figure had decreased compared to the previous year, when the number of phishing attacks nationwide amounted to nearly 300,000. However, in 2020 and 2019, this number was relatively low, around 241 thousand and 114 thousand, respectively.

Surveys of working adults and IT security professionals worldwide conducted in 2021 and 2023 found that the share of organizations experiencing severe consequences due to a successful cyber attack had declined. In 2023, the share of enterprises experiencing a breach of customer or client data was 29 percent, down from 44 percent in 2022. Ransomware infections that occurred through e-mail were common for 32 percent of the respondents in 2023. Cases of a credential or account compromise occurred in 27 percent of the organizations in 2023, a decrease of 25 percent compared to the year prior.

In 2023, users in Vietnam were most frequently targeted by phishing attacks. The phishing attack rate among internet users in the country was ***** percent. In the examined year, Peru was the second region, with an attack rate of nearly ** percent, while Taiwan followed with ***** percent.

As of December 2023, Indonesia recorded around ***** of phishing attacks, an increase compared to the previous month. From the first quarter to the fourth quarter of 2023, the highest number of phishing attacks happened in February, amounted to around more than ** thousand cases.

Introduction

Fraud Detection and Prevention Statistics: Fraud Detection and Prevention (FDP) is a critical focus for organizations. Involving strategies and technologies to thwart deceptive activities aimed at financial gain.

Fraud encompasses various forms, from identity theft to cybercrimes, and effective FDP is crucial for minimizing financial losses. Preserving reputation, adhering to legal obligations, and safeguarding data.

Key components include data collection, statistical analysis, machine learning, fraud prevention measures, regulatory compliance, and integrating emerging technologies like AI and blockchain. Continuous improvement is vital in this dynamic field to stay ahead of evolving fraud tactics.

Phishing Protection Market Outlook

The global phishing protection market size was valued at approximately USD 900 million in 2023 and is projected to reach USD 2.4 billion by 2032, growing at a compound annual growth rate (CAGR) of 11.5% from 2024 to 2032. The growth of this market is fueled by the escalating volume and sophistication of phishing attacks, coupled with increasing awareness about cybersecurity among organizations across various industries.

One of the significant growth factors driving the phishing protection market is the increasing number of cyberattacks targeting both individuals and organizations. Phishing attacks have become more sophisticated, making it crucial for businesses to invest in advanced protection measures. The rise in spear-phishing, where attackers target specific individuals within an organization, has heightened the need for robust phishing protection solutions. Moreover, the financial and reputational damage caused by successful phishing attacks is pushing organizations to adopt comprehensive security solutions, thereby driving market growth.

Another critical factor contributing to the market's expansion is the growing regulatory landscape around data protection and cybersecurity. Governments and regulatory bodies across the globe are implementing stringent regulations to ensure data security and protect consumer information. Compliance with regulations such as GDPR in Europe, CCPA in California, and other data protection laws worldwide necessitates the deployment of advanced phishing protection solutions. Organizations must adhere to these regulations to avoid hefty fines and legal repercussions, further propelling the adoption of phishing protection services and software.

The increasing adoption of digital transformation strategies by enterprises is also a significant driver of market growth. As businesses migrate their operations to cloud platforms and adopt new technologies, they become more vulnerable to cyber threats, including phishing attacks. The shift towards remote work and the integration of Bring Your Own Device (BYOD) policies have expanded the attack surface for cybercriminals. Consequently, organizations are prioritizing investments in phishing protection solutions to safeguard their digital assets and maintain business continuity in a highly digitized environment.

In addition to phishing attacks, organizations are increasingly facing threats from credential stuffing, a type of cyberattack where attackers use automated tools to try multiple username and password combinations to gain unauthorized access to user accounts. This has led to a growing demand for Credential Stuffing Protection solutions, which are designed to detect and block such attempts. These solutions often employ advanced techniques such as behavioral analytics and machine learning to identify suspicious login activities and prevent unauthorized access. As businesses continue to digitize their operations and store sensitive data online, the need for robust Credential Stuffing Protection measures becomes even more critical. By implementing these solutions, organizations can safeguard their user accounts and maintain trust with their customers.

Regionally, North America is anticipated to dominate the phishing protection market during the forecast period, owing to the high incidence of cyberattacks and the presence of leading cybersecurity companies. Europe is also expected to witness significant growth, driven by stringent data protection regulations and increasing cyber threats. The Asia Pacific region is projected to exhibit the highest CAGR, fueled by rapid digitalization, increasing internet penetration, and growing awareness about cybersecurity threats. Latin America, the Middle East, and Africa are also expected to contribute to the market's growth, albeit at a slower pace compared to other regions.

Component Analysis

The phishing protection market is segmented by components into software and services. The software segment is expected to hold a significant share of the market, as organizations increasingly rely on advanced software solutions to detect and prevent phishing attacks. Software solutions typically include email filtering, URL filtering, and anti-phishing tools that help identify and block malicious content. Moreover, the continuous advancements in machine learning and artificial intelligence are enhancing the capabilities of phishing protection software, making them more effective in ide

Spear Phishing Protection Market Outlook

The global spear phishing protection market size was valued at approximately USD 1.4 billion in 2023 and is anticipated to reach around USD 3.8 billion by 2032, growing at a compound annual growth rate (CAGR) of approximately 11.5% during the forecast period. This robust growth trajectory can be largely attributed to the increasing sophistication and frequency of spear phishing attacks, which are driving organizations across various sectors to invest in advanced protection solutions. As businesses become more digital, the attack surfaces expand, making them more vulnerable to such targeted cyber threats. Furthermore, the evolution of cyber threats, alongside stringent regulatory requirements for data protection, is pushing enterprises to adopt comprehensive spear phishing protection strategies.

The growth of the spear phishing protection market is significantly driven by a heightened awareness of cybersecurity threats and the need for robust defense mechanisms. Spear phishing attacks, characterized by their targeted and personalized nature, have been growing in complexity, leading to severe financial losses and data breaches. Organizations are increasingly recognizing that traditional security measures are insufficient against these sophisticated attacks. As a result, there is a substantial uptick in the demand for specialized tools and services that offer real-time threat intelligence, advanced email filtering, and behavior analytics to preemptively identify and thwart potential phishing attempts. Moreover, the integration of artificial intelligence (AI) and machine learning (ML) in cybersecurity solutions is transforming the spear phishing protection landscape, allowing for more adaptive and predictive threat identification.

Legislative requirements and compliance standards are also pivotal in propelling the market forward. Various governments and regulatory bodies have implemented stringent data protection laws that mandate organizations to have robust cybersecurity measures in place. Non-compliance can result in hefty fines and reputational damage, further emphasizing the need for effective spear phishing protection solutions. This regulatory environment is prompting organizations, especially those in highly regulated industries like banking and finance, healthcare, and government sectors, to prioritize their cybersecurity initiatives. Consequently, there is an increasing allocation of budgets towards enhancing cybersecurity infrastructure, with a significant portion dedicated to spear phishing protection.

The proliferation of remote work and digital transformation initiatives has further catalyzed the growth of the spear phishing protection market. With the widespread adoption of remote working models, employees are accessing corporate networks from various locations and devices, thereby expanding the attack surface for cybercriminals. This shift necessitates a reevaluation of existing cybersecurity strategies to include comprehensive measures against spear phishing attacks. Organizations are investing in cloud-based security solutions that offer scalability, flexibility, and real-time monitoring capabilities. Moreover, as digital transformation continues to accelerate across industries, there is an increasing reliance on digital communication tools, which are often targeted by spear phishing attacks, thus highlighting the critical need for effective protection measures.

Regionally, North America holds a substantial share of the spear phishing protection market, driven by the presence of major cybersecurity companies, a high rate of technology adoption, and stringent regulatory standards. The region's advanced IT infrastructure and significant investments in cybersecurity are key factors contributing to its dominance. Europe follows closely, with strong emphasis on data protection due to regulations like the General Data Protection Regulation (GDPR), which mandates robust cybersecurity frameworks. The Asia Pacific region is expected to exhibit the highest growth rate during the forecast period, fueled by the rapid digitalization of economies, increasing cyber threats, and rising awareness about cybersecurity. Countries like China, India, and Japan are investing heavily in cybersecurity measures to protect their growing digital economies.

Component Analysis

The spear phishing protection market is segmented by component into solutions and services. Solutions encompass various technologies and software designed to detect, prevent, and mitigate spear phishing attacks. These solutions include advanced email security, endpoint protection, network security, thre

In 2023, around 27.32 percent of total phishing attacks worldwide targeted financial institutions, down from 36.3 percent in 2022. Among the organizations attacked by financial phishing, web services were the most targeted, with more than 24 percent of phishing attacks involving them.

PhiUSIIL Phishing URL Dataset is a substantial dataset comprising 134,850 legitimate and 100,945 phishing URLs. Most of the URLs we analyzed while constructing the dataset are the latest URLs. Features are extracted from the source code of the webpage and URL. Features such as CharContinuationRate, URLTitleMatchScore, URLCharProb, and TLDLegitimateProb are derived from existing features.

Citation: Prasad, A., & Chandra, S. (2023). PhiUSIIL: A diverse security profile empowered phishing URL detection framework based on similarity index and incremental learning. Computers & Security, 103545. doi: https://doi.org/10.1016/j.cose.2023.103545

Phishing Simulation Market Outlook

The global phishing simulation market size was valued at approximately USD 249 million in 2023 and is projected to reach around USD 1,042 million by 2032, growing at a CAGR of 17.2% during the forecast period. The key growth factor driving this market is the increasing need for robust cybersecurity measures to combat the rising threat of phishing attacks.

The surge in phishing attacks has magnified the importance of phishing simulation tools, which help organizations identify and mitigate these threats effectively. By simulating phishing attacks, companies can educate employees about recognizing and responding to real phishing attempts, significantly reducing the risk of data breaches. Furthermore, the increasing digital transformation efforts across various industries have made cybersecurity a top priority, bolstering the adoption of phishing simulation solutions.

Another pivotal growth factor is the regulatory landscape encouraging or mandating stronger cybersecurity practices. Governments and regulatory bodies worldwide have started imposing stringent regulations to safeguard sensitive data, particularly in sectors like BFSI, healthcare, and government. Compliance with these regulations often necessitates regular phishing simulation exercises, thereby propelling market growth. Additionally, organizations are increasingly adopting these solutions to avoid the hefty fines and reputational damage associated with data breaches.

Technological advancements also play a crucial role in driving market growth. The integration of artificial intelligence (AI) and machine learning (ML) in phishing simulation tools has enhanced their effectiveness and accuracy. These sophisticated tools can now simulate more complex and realistic phishing scenarios, providing a more comprehensive assessment of an organization’s vulnerability. Moreover, the user-friendly interfaces and customizable features of modern phishing simulation solutions make them accessible even to non-technical users, broadening their adoption across various sectors.

Regionally, North America dominates the phishing simulation market, followed by Europe and the Asia Pacific. North America’s dominance can be attributed to the presence of numerous cybersecurity firms, high awareness levels, and substantial investments in cybersecurity infrastructure. Europe is also a significant market due to stringent data protection regulations like GDPR. The Asia Pacific region, with its rapid digitalization and increasing cyber threats, presents vast growth opportunities for phishing simulation solutions.

Component Analysis

The component segment of the phishing simulation market is bifurcated into software and services. The software segment is anticipated to hold the largest market share due to the high demand for automated and sophisticated phishing simulation tools. These software solutions offer numerous features such as customizable phishing templates, real-time reporting, and integration with existing cybersecurity infrastructure, making them highly attractive to organizations. The ease of deployment and scalability of these software solutions further contribute to their popularity among businesses of various sizes.

On the other hand, the services segment is expected to grow at a substantial rate during the forecast period. Services related to phishing simulation include training, consultation, and support services that help organizations effectively implement and manage their phishing simulation programs. With the growing emphasis on employee training and awareness, the demand for comprehensive service packages that include hands-on training sessions and continuous support is on the rise. These services ensure that organizations can fully leverage their phishing simulation tools to maximize their cybersecurity posture.

Furthermore, the integration of AI and ML in phishing simulation software has revolutionized the way these tools operate. Advanced software solutions can now analyze patterns and behaviors to predict potential phishing threats accurately. This predictive capability allows organizations to stay ahead of cybercriminals, thereby enhancing their overall security framework. The continuous evolution of these software tools, with regular updates and new features, ensures that organizations can tackle emerging phishing tactics efficiently.

In terms of revenue generation, the software segment is likely to continue its dominance, driven by the increasing adoption of cloud-based solutions. Cloud-base

Anti Phishing Software Market Outlook

The global anti-phishing software market size was valued at approximately USD 1.5 billion in 2023 and is anticipated to reach around USD 4.2 billion by 2032, growing at a robust CAGR of 12.5% during the forecast period. The primary growth factor driving this market is the escalating frequency and sophistication of phishing attacks, which necessitates robust cybersecurity measures across various industries.

The rise in digitalization and increasing internet penetration across the globe have significantly contributed to the surge in phishing attacks, as more individuals and organizations become digital targets. As businesses continue to adopt digital platforms for their operations, the need for advanced anti-phishing solutions has become paramount. This, in turn, has fueled the demand for anti-phishing software that can effectively detect, prevent, and mitigate phishing threats.

Moreover, regulatory frameworks and stringent compliance requirements have also propelled the market growth. Governments and regulatory bodies worldwide have introduced various data protection laws and cybersecurity mandates, compelling organizations to invest in reliable anti-phishing software to safeguard sensitive data and avoid hefty penalties. The necessity to comply with regulations like the General Data Protection Regulation (GDPR) in Europe, the California Consumer Privacy Act (CCPA) in the United States, and similar regulations in other regions has underscored the importance of robust anti-phishing measures.

Additionally, the growing adoption of cloud-based services and remote working trends have further amplified the need for advanced anti-phishing solutions. With the increasing reliance on cloud platforms and remote work environments, the attack surface for phishing attempts has expanded, making it crucial for organizations to deploy comprehensive anti-phishing software that can protect their digital assets and remote workforce. The shift towards cloud-based anti-phishing solutions has gained traction due to their scalability, cost-effectiveness, and ease of deployment.

Component Analysis

The anti-phishing software market can be segmented by component into software and services. The software segment encompasses various types of anti-phishing solutions, including email security solutions, web security solutions, and endpoint security solutions. Email security solutions are critical as email remains the primary vector for phishing attacks. These solutions use advanced algorithms and machine learning techniques to detect and block phishing attempts before they reach the end user. Web security solutions, on the other hand, protect users from malicious websites and links that can lead to phishing attacks.

In addition to anti-phishing solutions, the role of Anti Cheat Software has become increasingly significant in the realm of cybersecurity. As online gaming and digital platforms continue to expand, the need to maintain fair play and secure environments has led to the development of sophisticated anti-cheat technologies. These software solutions are designed to detect and prevent cheating activities, ensuring a level playing field for all participants. By employing advanced algorithms and real-time monitoring, anti-cheat software helps protect the integrity of online platforms, thereby enhancing user trust and engagement. The integration of such software into digital ecosystems not only safeguards user experiences but also contributes to the broader cybersecurity landscape by preventing malicious activities that often accompany cheating attempts.

Endpoint security solutions are another crucial aspect of the software segment. These solutions safeguard individual devices such as laptops, desktops, and mobile phones from phishing attacks. With the increasing use of personal devices for professional purposes, endpoint security solutions have become indispensable. They provide real-time protection and ensure that even if a phishing attempt bypasses other security measures, the endpoint remains secure.

The services segment includes various professional and managed services that support the deployment and maintenance of anti-phishing software. Professional services encompass consulting, training, and implementation services that help organizati

As of February 2025, the United States ranked first by the average cost of a data breach, 10.22 million U.S. dollars. The average cost of data breaches in the Middle East was 7.29 million U.S. dollars. Benelux followed in the ranking, with 6.24 million U.S. dollars. In the measured period, the global average data breach cost was 4.44 million U.S. dollars. Phishing scams in the U.S. Breached data often ends up in the hands of threat actors who use it for malicious purposes, including online scams. Phishing continues to be a major threat in North America, particularly on smartphones. In the second quarter of 2023, the region recorded the highest number of phishing and malicious attack attempts globally. The United States was particularly affected, with 45 percent of U.S. citizens reporting being targeted by scam texts, e-mails, and calls on a daily basis. Additionally, phishing and spoofing were the most common types of cybercrime, impacting 298 thousand individuals in 2023. These attacks led to financial losses, with U.S. victims reporting nearly 20 billion U.S. dollars in damages throughout the year. U.S. users and data privacy Despite only 20 percent of internet users in the United States being highly knowledgeable about data privacy and cybersecurity, a significant portion of users demonstrated caution and awareness in protecting their information. In fact, over half of surveyed U.S. users reported being somewhat confident in knowing the right steps to take in the event of a cyberattack. Furthermore, 43 percent of U.S. users actively decline cookies on websites, reflecting their increasing concern for data protection. Many respondents also take additional steps to safeguard their digital privacy, such as limiting or avoiding clicking on ads as well as not answering phone calls due to cybersecurity risks.

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Fraud Detection And Prevention Market Size 2025-2029

The fraud detection and prevention market size is forecast to increase by USD 122.65 billion, at a CAGR of 30.1% between 2024 and 2029.

The market is witnessing significant growth, driven by the increasing adoption of cloud-based services. Businesses are recognizing the benefits of cloud solutions, such as real-time fraud detection, scalability, and cost savings. Additionally, technological advancements in fraud detection and prevention solutions and services are enabling organizations to better protect their assets from sophisticated fraud schemes. However, the complex IT infrastructure of modern businesses poses a challenge in implementing and integrating these solutions effectively. The complexity of the IT infrastructure, which integrates cloud computing, big data, and mobile devices, creates a vast network of devices with insufficient security features.
To capitalize on market opportunities, companies must stay abreast of these trends and invest in advanced fraud detection technologies. Effective implementation and integration of these solutions, coupled with continuous innovation, will be crucial for businesses seeking to mitigate fraud risks and protect their reputation and financial stability. Furthermore, the constant evolution of fraud techniques necessitates continuous innovation and adaptation from solution providers. Encryption techniques and network security protocols form the foundation of robust cybersecurity defenses, while compliance regulations and penetration testing help identify vulnerabilities and strengthen security posture.

What will be the Size of the Fraud Detection And Prevention Market during the forecast period?

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The market continues to evolve, driven by the constant emergence of new threats and the need for advanced technologies to mitigate risks across various sectors. Real-time fraud alerts, anomaly detection systems, forensic accounting tools, and risk mitigation strategies are integrated into comprehensive solutions that adapt to the ever-changing fraud landscape. Entities rely on these tools to maintain regulatory compliance frameworks and incident response planning, ensuring access control management and vulnerability assessments are up-to-date. Machine learning algorithms and transaction monitoring tools enable the detection of suspicious activity, providing valuable insights into potential threats.

Intrusion detection systems and behavioral biometrics offer real-time protection against cyberattacks and payment fraud, while identity verification methods and risk scoring models help prevent account takeover and data loss. Cybersecurity threat intelligence and authentication protocols enhance the overall security strategy, providing a layered approach to fraud prevention. Fraud investigation techniques and loss prevention metrics enable entities to respond effectively to incidents and minimize the impact of data breaches. Social engineering countermeasures and payment fraud detection solutions further fortify the fraud prevention arsenal, ensuring continuous protection against evolving threats.

The ongoing dynamism of the market demands a proactive approach, with entities staying informed and agile to maintain a strong defense against fraudulent activities.

How is this Fraud Detection And Prevention Industry segmented?

The fraud detection and prevention industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Component

  Solutions
  Services


End-user

  Large enterprise
  SMEs


Application

  Transaction monitoring
  Compliance and risk management
  Identity verification
  Behavioral analytics
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    Russia
    UK


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By Component Insights

The Solutions segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth due to escalating cyber threats, increasing regulatory compliance requirements, and the need to mitigate financial losses. Biometric authentication, encryption techniques, machine learning algorithms, and intrusion detection systems are among the key solutions driving market expansion. Regulatory frameworks, such as the General Data Protection Regulation (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA), are mandating robust incident response planning, access control management, and data breach prevention strategies. Vulnerability assessments and

In 2023, web services were targeted most by phishing attacks. They accounted for over ** percent of financial phishing attacks worldwide. Delivery company ranked second with nearly ** percent, while Global internet portals followed with ***** percent of the phishing attacks in the examined year.

Online Fraud Detection Market Outlook

The global online fraud detection market size was valued at USD 3.5 billion in 2023 and is projected to reach USD 10.5 billion by 2032, growing at a compound annual growth rate (CAGR) of 13.2%. This impressive growth is driven by the increasing sophistication of cyber-attacks and the rising adoption of digital payment methods, which demand robust security solutions.

The primary growth factor for the online fraud detection market is the escalating frequency and complexity of cyber-attacks. As businesses and consumers increasingly conduct transactions online, fraudsters have developed more sophisticated methods to exploit system vulnerabilities. This has created a pressing need for advanced fraud detection solutions that can identify and mitigate such threats in real-time. Additionally, regulatory mandates are compelling organizations to implement stringent security measures, further fueling market growth.

Another significant growth driver is the rapid digitization across various sectors, including banking, financial services, and insurance (BFSI), retail, and healthcare. As these industries embrace digital transformation, the volume of online transactions has surged, making them prime targets for cyber fraud. Consequently, there is an increasing investment in fraud detection technologies to safeguard sensitive information and maintain customer trust. Moreover, the integration of artificial intelligence (AI) and machine learning (ML) in fraud detection systems has enhanced their capability to predict and prevent fraudulent activities efficiently.

The rising awareness among consumers about the potential risks associated with online transactions is also contributing to market growth. As individuals become more informed about the dangers of cyber fraud, there is a heightened demand for secure online payment systems. Businesses are responding to this demand by incorporating advanced fraud detection tools into their platforms to provide a secure and seamless user experience. Furthermore, the emergence of e-commerce and m-commerce has necessitated the adoption of robust fraud prevention measures to protect both buyers and sellers.

Anomaly Detection Solution plays a crucial role in the online fraud detection market by providing advanced tools to identify unusual patterns and activities that could indicate fraudulent behavior. These solutions utilize sophisticated algorithms and machine learning techniques to analyze vast amounts of data in real-time, enabling businesses to detect anomalies that may otherwise go unnoticed. By integrating anomaly detection into their security frameworks, organizations can enhance their ability to identify potential threats early and take proactive measures to prevent fraud. This not only helps in safeguarding sensitive information but also in maintaining customer trust and ensuring compliance with regulatory requirements. As the complexity of cyber threats continues to evolve, the demand for robust anomaly detection solutions is expected to rise, driving further growth in the market.

Regionally, North America dominates the online fraud detection market due to the high adoption rate of digital payment methods and the presence of major technology providers. The region's strong regulatory framework and focus on cybersecurity also play a crucial role in driving market growth. Meanwhile, the Asia Pacific region is expected to witness the highest growth rate during the forecast period, fueled by the rapid expansion of the e-commerce sector and increasing internet penetration. Europe remains a significant market, driven by stringent data protection regulations and substantial investments in cybersecurity solutions.

Component Analysis

The online fraud detection market is segmented into software and services based on components. The software segment comprises various solutions such as fraud analytics, authentication, and fraud management, which are designed to detect and prevent fraudulent activities. The continuous evolution of cyber threats has necessitated the development of sophisticated software solutions capable of analyzing vast amounts of data in real-time to identify anomalies and potential fraud. These solutions leverage AI and ML algorithms to enhance their detection accuracy and response time.

In addition to software solutions, the services segment plays a vital role in the online fraud detection market. Services such as con

This dataset contains over 41,000 posts from the sextortion reporting board of scamsurvivors.com, as collected on the 14th of July, 2023. The data was collected and is shared with the approval of the Scam Survivors administrator. Of these posts, 23,705 were automatically identified as following a common structured report format, and the reported answers to specific questions were extracted into a tabular CSV format, which was then further processed to clean and standardise responses. The data does not contain identifiable or demographic victim information, as the reports are anonymous at source, but does include details of sextortion offenders' (purported) names and ages, as well as their online presence, meeting locations, conversation platforms, interaction dynamics, payment demands and some victim reflection on incidents. This dataset has been created as part of the REPHRAIN project (https://www.rephrain.ac.uk/).

In the second quarter of 2023, smartphone users in North America encountered around ***** thousand phishing and malicious attempts worldwide, making it the region with the highest number of such incidents. Europe ranked second, with more than *** thousand phishing and malicious attempts.

Data from the Crime Survey for England and Wales (CSEW) and the National Fraud Intelligence Bureau (NFIB), including numbers of incidents and characteristics of victims.

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Cyber Security Market Size 2025-2029

The cyber security market size is valued to increase USD 269.8 billion, at a CAGR of 16.7% from 2024 to 2029. Increase in use of mobile devices will drive the cyber security market.

Major Market Trends & Insights

North America dominated the market and accounted for a 43% growth during the forecast period.
By End-user - Government segment was valued at USD 43.50 billion in 2023
By Deployment - On-premises segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 143.61 billion
Market Future Opportunities: USD 269.80 billion
CAGR from 2024 to 2029 : 16.7%

Market Summary

In the ever-expanding digital realm, the cybersecurity market assumes a pivotal role as businesses worldwide grapple with the escalating threat landscape. According to recent estimates, the global cybersecurity market is projected to reach a value of USD248.26 billion by 2023, underscoring its significant growth trajectory. This surge in demand is fueled by several key drivers, including the increasing use of mobile devices and the adoption of IoT technology. As businesses embrace digital transformation, they become increasingly reliant on complex networks and interconnected systems, creating a vast attack surface for cybercriminals. This, in turn, necessitates robust cybersecurity solutions capable of safeguarding sensitive data and mitigating potential threats. However, the high cost of deployment remains a significant challenge, necessitating a balance between security and cost-effectiveness. Moreover, the cybersecurity landscape is characterized by rapid evolution, with emerging threats and technologies requiring continuous adaptation and innovation. As such, cybersecurity providers must stay abreast of the latest trends and developments to deliver effective solutions. This ongoing demand for advanced security capabilities is expected to drive market growth in the coming years.

What will be the Size of the Cyber Security Market during the forecast period?

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How is the Cyber Security Market Segmented ?

The cyber security industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userGovernmentBFSIICTManufacturingOthersDeploymentOn-premisesCloud-basedProductSolutionServicesSectorLarge enterprisesSMEsTypeCloudEnd-point and IoTNetworkApplicationGeographyNorth AmericaUSCanadaEuropeFranceGermanyRussiaUKAPACChinaIndiaJapanSouth AmericaBrazilRest of World (ROW)

By End-user Insights

The government segment is estimated to witness significant growth during the forecast period.

Amidst the ever-evolving digital landscape, The market continues to expand, with the government sector leading the charge in 2024. This sector is projected to maintain its dominance throughout the forecast period, fueled by the installation of advanced security systems in both developed and developing nations. Homeland security and defense sectors' significant contributions further bolster this growth. With the increasing importance of data security and confidentiality, governments worldwide invest in cyber security solutions to safeguard sensitive information. In fact, a recent study reveals that the government sector accounted for over 25% of the market in 2023. This trend is expected to persist as governments continue to prioritize cybersecurity, implementing advanced technologies such as machine learning security, intrusion detection systems, and zero trust architecture. Additionally, the adoption of cybersecurity incident response, threat modeling techniques, data encryption techniques, and malware analysis techniques further strengthens their cybersecurity posture. As the threat landscape evolves, governments are also focusing on automation security tools, ransomware attack prevention, and artificial intelligence security to stay ahead of emerging threats. Compliance frameworks, incident response planning, data breach notification, and threat intelligence platforms are essential components of their cybersecurity strategies. Vulnerability assessment scanning, social engineering attacks, security orchestration automation, data loss prevention, risk assessment methodologies, access control management, penetration testing methodologies, phishing email detection, multi-factor authentication, network security protocols, and blockchain security implementation are all critical aspects of their cybersecurity arsenal.

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The Government segment was valued at USD 43.50 billion in 2019 and showed a gradual increase during the forecast period.

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Regional Analysis

North America