At 11.3% CAGR, Europe Phishing Protection Market is Projected to be Worth US$ 1,308.34 Million by 2031, says Business Market Insights 

According to Business Market Insights research, the Europe phishing protection market was valued at US$ 556.51 million in 2023 and is expected to reach US$ 1,308.34 million by 2031, registering a CAGR of 11.3% from 2023 to 2031. Emergence of protection solutions powered by Artificial Intelligence & machine learning and increasing sophistication and frequency of phishing attacks are among the critical factors attributed to drive the Europe phishing protection market growth.

Phishing attacks are becoming more intricate and require smarter real-time defense mechanisms. The integration of advanced technologies such as AI and ML helps better cybersecurity systems. AI and ML-powered phishing protection solutions can quickly analyze vast amounts of data to identify patterns. Advanced algorithms can distinguish between legitimate and malicious communications more effectively to minimize disruption in business operations. Further, there is a continuous demand for advanced phishing protection solutions such as AI-assisted threat-hunting tools and automated incident response systems that can be integrated seamlessly with existing security infrastructures and provide actionable intelligence to security teams. As organizations increasingly recognize the limitations of phishing protection based on traditional rules, the demand for these advanced solutions is expected to grow significantly during the forecast period, in turn, bolstering the growth of the phishing protection market during the forecast period.

On the contrary, the limited user awareness hampers the growth of Europe phishing protection market.

Based on offerings, the Europe phishing protection market is bifurcated into solution and services. The solution segment held 74.2% market share in 2023, amassing US$ 412.95 million. It is projected to garner US$ 945.55 million by 2031 to register 10.9% CAGR during 2023–2031.

In terms of deployment, the Europe phishing protection market is bifurcated into on-premises and cloud. The cloud segment held 68.0% share of Europe phishing protection market in 2023, amassing US$ 378.69 million. It is anticipated to garner US$ 912.11 million by 2031 to expand at 11.6% CAGR during 2023–2031.

By type, the Europe phishing protection market is bifurcated into email-based phishing and non-email-based phishing. The email-based phishing segment held 70.1% share of Europe phishing protection market in 2023, amassing US$ 389.88 million. It is projected to garner US$ 907.79 million by 2031 to expand at 11.1% CAGR from 2023 to 2031.

Based on enterprise size, the Europe phishing protection market is bifurcated into large enterprises and small and medium enterprises. The large enterprises segment held 62.9% share of Europe phishing protection market in 2023, amassing US$ 349.90 million. It is predicted to garner US$ 802.80 million by 2031 to expand at 10.9% CAGR between 2023 and 2031.

In terms of vertical, the Europe phishing protection market is categorized into BFSI, media and entertainment, IT and telecom, retail and e-commerce, government and public sector, and others. The BFSI segment held 25.9% share of Europe phishing protection market in 2023, amassing US$ 144.30 million. It is estimated to garner US$ 386.47 million by 2031 to expand at 13.1% CAGR during 2023–2031.

Based on country, the Europe phishing protection market is categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the UK captured 25.7% share of Europe phishing protection market in 2023. It was assessed at US$ 143.19 million in 2023 and is likely to hit US$ 358.79 million by 2031, registering a CAGR of 12.2% during 2023–2031.

Key players operating in the Europe phishing protection market are Microsoft Corp; Cisco Systems Inc; Open Text Corp; Barracuda Networks, Inc.; SlashNext, Inc.; Ironscales; Proofpoint Inc; Mimecast Services Limited; Paubox, Inc; and Trustwave Holdings, Inc. among others.

• In Nov 2023, Mimecast Limited (Mimecast), an advanced email and collaboration security company, announced the expansion of its Email Security Cloud Integrated solution to certain additional markets across Europe, the Middle East, North America and Asia Pacific, enabling more organizations across the globe to Work Protected™. This gateway-less solution is designed to optimize protection for Microsoft 365 environments with scalable, best-in-class email and collaboration security.
• In Sept 2023, Proofpoint, Inc., a leading cybersecurity and compliance company, introduced industry-first innovations that address the top risks organizations face today—from business email compromise (BEC), the leading cause of financial loss for organizations, to ransomware and data exfiltration. The unified solutions, announced at Proofpoint Protect 2023, span the company's Aegis Threat Protection, Identity Threat Defense and Sigma Information Protection platforms to thwart threats across the most critical stages of the attack chain. Fueled by trillions of detected threat activities sourced from one of the most comprehensive data sets in the industry, Proofpoint's new AI- and ML-powered innovations equip security practitioners with unmatched visibility, flexibility, and depth to detect and disrupt sophisticated adversaries across their organizations' attack surfaces.

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