The phishing protection market was valued at US$ 2.39 billion in 2022 and is expected to reach US$ 5.95 billion by 2030; it is estimated to record a CAGR of 12.1% from 2022 to 2030.

The phishing protection market is being driven by the rising awareness about the benefits provided by phishing protection solutions and services, including real-time protection, sensitive data protection, mitigation techniques, and multi-factor authentication (MFA), among others. Risk-based authentication is gaining traction as consumers adopt more customized and effective phishing security tactics for protecting their confidential information. This method evaluates several factors, such as device type, location, and user behavior, to determine the level of risk linked with each login attempt. In the case of high-risk logins, additional authentication factors, such as multi-factor authentication (MFA) are required to verify the user's identity and prevent unauthorized access. This strategy balancing security and usability by guaranteeing robust protection against phishing assaults without interfering with legitimate users' experience is boosting the phishing protection market.

On the basis of deployment, the phishing protection market is divided into on-premise and cloud. The cloud segment is anticipated to hold a significant phishing protection market share by 2030. The cloud platform plays a major role in the protection of information and data in any organization. Many businesses across the globe are heavily investing in cloud technology to protect their data and information from phishing attacks. For instance, key players in the phishing protection market such as Mimecast Services Limited and Broadcom Inc are investing in the development of cloud-based email security software to support their customers in preventing phishing emails, which is driving the segment. Cloud-based phishing protection software can easily accommodate the needs of large and small businesses as well as rapidly growing companies. This software supports the business to adapt to changing requirements and provides real-time protection against phishing attacks. Cloud-based phishing protection software actively monitors and blocks phishing attempts by filtering emails, texts, and other communication channels before they reach the user's mailbox, which is expected to favor the growth of the cloud segment during the forecast period.

The phishing protection market in North America is projected to record a notable CAGR during the forecasted period due to growing investments in the development of cutting-edge technologies such as AI, ML, deep learning, cloud, etc. AI-enabled phishing protection solutions automate response and improve the overall cybersecurity posture of businesses, boosting the demand for phishing protection solutions and services.

The phishing protection market analysis is carried out by identifying and evaluating key players in the market such as Microsoft Corp, Barracuda Networks Inc, SlashNext Inc, IRONSCALES LTD, Proofpoint Inc, Mimecast Services Limited, Open Text Corp, Paubox Inc, Trustwave Holdings Inc, and Cisco Systems Inc. Several other phishing protection market players were also analyzed for a holistic view of the market and its ecosystem. The market forecast can help stakeholders in this marketplace plan their growth strategies.

The overall phishing protection market size has been derived using both primary and secondary sources. To begin the market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and market forecast of the phishing protection market growth with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the phishing protection market.