Market Analysis
Market Research Future (MRFR) predicts the global email encryption market to reach USD 6.84 billion at a CAGR of 22.0% from 2020–2027 (forecast period).
Email encryption is characterized as the process of encrypting email messages with public and private keys in order to secure sensitive information that can only be read by the intended recipient. With the rise of cyber-attacks and crimes, it is important for users to encrypt email conversations in order to secure potentially sensitive information—login credentials, social security numbers, and bank account numbers—from hackers, which may result in the loss of a variety of valuable assets. The encryption makes email content unreadable during the time it takes for the email to move from its origin to its destination, protecting the content from any person or hacker.
The increased use of email for corporate, government, and personal communication between businesses, individuals, and government agencies has increased the need for email encryption to secure confidential information from third parties, unknown sources, or hackers. Furthermore, the growing loss of data, assets, and information as a result of cyber-attacks and threats such as viruses, malware, and spam has increased the demand for email encryption among various business organizations.
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COVID-19 Impact on the Global Email Encryption Market
During this COVID-19 pandemic, even small businesses are gravitating toward working digitally, as required by regulatory and government bodies in order to maintain social distance. The increased use of email on home servers has increased the risk of fraud. The use of digital technologies like Data Loss Prevention, email authentication, and email encryption has increased globally as a result of the increased incidence of phishing and email scams in this pandemic. Organizations have been more proactive in protecting their sensitive data stored on email servers. Organizations can use email encryption to secure their data, resources, and confidential information from cyber-attacks.
Market Segmentation
The global email encryption industry has been segmented into type, organization size, deployment, and vertical.
By type, the global email encryption market has been segmented into end-to-end encryption, hybrid encryption, gateway email encryption, boundary email encryption, and client plugins.
By organization size, the global email encryption market has been segmented into large enterprises and SMEs.
By deployment, the global email encryption market has been segmented into cloud and on-premise.
By vertical, the global email encryption market has been segmented into BFSI, government & defense, IT & telecom, healthcare, manufacturing, retail, and others.
Regional Analysis
By region, the global email encryption market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
Because of the involvement of key vendors such as Symantec Corporation, Cisco Systems, Inc., and Proofpoint, Inc., North America has the highest market share. As these vendors provide a variety of solutions to improve data security, reduce and prevent cyber-attacks, and ensure business continuity by protecting data security and privacy for business organizations. Furthermore, the region's early adoption of email encryption is a primary factor influencing the development of the email encryption market in North America.
Key Players
MRFR recognizes the main players in the global email encryption market as Micro Focus International PLC (UK), Trend Micro Inc. (Japan), Symantec Corporation (US), BAE Systems PLC (UK), Cisco Systems, Inc. (US), Sophos Group PLC (UK), Mimecast Services Limited (US), Proofpoint, Inc. (US), Entrust Datacard Corporation (US), Egress Software Technologies Ltd (UK), Zix Corporation (US), and Intermedia.net, Inc. (US).
Summary
The global email encryption market is set to reach USD 6.84 billion at a CAGR of 22.0% from 2020–2027 (forecast period). The increased use of emails for corporate, government, and personal communication between businesses, individuals, and government agencies has increased the need for email encryption to protect confidential information from any third party, anonymous sources, or hackers. Furthermore, the growing loss of data, assets, and information as a result of cyber-attacks and threats like viruses, malware, and spam has increased the demand for email encryption among various business organizations.
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Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
Continued…
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