It doesn't even exist. It is a made up word for a made up condition. A phobia is an irrational fear. There is nothing irrational about fear of Islam. Mohammed himself says that he has made himself great through terror.
Spreading fear and terror has always been at the heart of Islam's growth. In Islam it is forbidden to leave the faith or criticize it upon penalty of death. Now just how irrational can it be for people to fear doing something that could end their lives?
If you look at Islam one also sees that it is a codified system of domestic abuse. Women are lessor and they aren't even considered to be human. What kind of belief system makes a mother subject to the sexual demands of her husband or the male oversight of her own progeny?
Nor is there such a thing as racism against Islam because Islam isn't a race. It is a belief system and all beliefs can and should be questioned.

@Chicago That's what I was alluding to in my comment above, it doesn't really exist.