The phishing simulator market is an important part of cyber security services, providing organizations the ability to test and train their employees against sophisticated phishing attacks. By simulating real world phishing scenarios, these platforms help enhance user awareness and strengthen organizational security. The phishing simulator products cover email security, vulnerability assessments, compliance training, and continuous monitoring.

The Global Phishing Simulator Market is estimated to be valued at US$ 107.49 Bn in 2024 and is expected to exhibit a CAGR of 9.0% over the forecast period between 2024 to 2031.

Key Takeaways

Key players operating in the phishing simulator market are Ironscales, Cofense (PhishMe), Infosec Institute, KnowBe4, PhishLabs, Wombat Security Technologies, Barracuda Networks, Mimecast, Proofpoint, CyberFish, DataEndure, FireEye, Smooth Phish, Votiro, XM Cyber, Lucidworks, Digital Defense, Getlabs, Avanan, Greathorn. Key players like KnowBe4 and Cofense dominate the market with their comprehensive platform offerings.

The growing instances of phishing attacks and ransomware incidents have accelerated the demand for phishing simulation platforms across industry verticals. Recent high profile attacks have highlighted the vulnerabilities within organizations and intensified the need for continuous security awareness training. Phishing simulator vendors are witnessing increased traction from enterprises of all sizes.

Major players are also focusing on geographical expansion strategies to tap international markets. The awareness about these platforms is increasing in underpenetrated regions of Asia Pacific and Middle East & Africa. Favorable cybersecurity regulations and increased spending on employee security training will drive strong revenue growth rates in developing markets over the forecast period.

Market key trends

One of the major trends in the Phishing Simulator Market Demand is the integration of artificial intelligence and machine learning capabilities. Vendors are focusing on automating the entire phishing simulation lifecycle using AI. Many platforms now use AI to analyze user behavior and click patterns. They generate personalized phishing emails tailored for individual users based on their past responses. The AI technology enhances the learning experience and helps prioritize training for at-risk groups. This trend is expected to further scale up in coming years as more sophisticated techniques are developed.

Porter’s Analysis

Threat of new entrants: The threat is low as this is a specialized software market requiring technical expertise and resources.

Bargaining power of buyers: The bargaining power is moderate given the presence of many established vendors providing phishing simulator software.

Bargaining power of suppliers: The bargaining power is low as suppliers have standard components and there are many substitutes available.

Threat of new substitutes: The threat is moderate as organizations can rely on in-house development teams to create similar simulation tools.

Competitive rivalry: Competition is intense with well-funded major players leveraging latest technologies to provide advanced features and competitive prices.

Geographical regions with major market share

North America currently holds the largest share of the phishing simulator market due to stringent regulatory compliances and growing demand from organizations to test their employees’ vulnerability to phishing attacks. The region is expected to continue its dominance during the forecast period due to increasing investments in security solutions by enterprises across industries.

Fastest growing region

Asia Pacific is poised to grow at the fastest rate over the next few years, attributed to growing digitization, evolving cyber threats, and rising expenditure on cybersecurity solutions by governments and businesses across developing economies such as China, India. Establishment of new offices of major players and initiatives to spread awareness about emerging threats also contributes to the market growth in Asia Pacific.

*Note:
1.  Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it