Email Encryption Market Size to Reach US$ 9.9 Billion, Globally, by 2028 at 26.08% CAGR

IMARC Group, a leading market research company, has recently releases report titled, “Email Encryption Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global email encryption market trends, share, size and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the email encryption market?

What is email encryption?

Email encryption is an
authentication process of encoding and concealing the information within an
email to protect sensitive information from unauthorized access. It transforms
the original message into an incomprehensible format, rendering it unreadable
or indecipherable. The use of email encryption becomes imperative when sharing
sensitive information as it can become highly susceptible to hacking over
unsecured or public networks. It relies on cryptographic techniques, where the
user publishes a key to decrypt the message. Additionally, it employs digital
signature mechanisms to protect confidential data against cyberattacks. It also
serves as an essential data security solution for individuals and organizations,
effectively preventing unintended users from accessing critical and
confidential data. As a result, email encryption is extensively applied in
numerous industrial verticals such as banking, financial services and insurance
(BFSI), government, defense, energy, information technology (IT), healthcare,
and telecom industries across the globe.

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What are the growth prospects and trends in the email encryption industry?

The market is primarily
driven by growing data security and privacy regulations concerns due to the
increasing incidences of phishing and spam emails. Additionally, the increasing
demand for cloud-based services with significant use of email encryption
services by corporate organizations and individuals increasingly relying on
email services to curb the risk of unauthorized access to sensitive content is
contributing to market growth. In line with this, the widespread adoption of
email encryption among individuals to secure their sensitive data against
manipulation and losses is influencing market growth. Moreover, email
encryption is a preventive measure against various cyber threats and attacks
through viruses, malware, spam, Business Email Compromise (BEC), and other
intrusions that can compromise sensitive enterprise information, thus
representing another major growth-inducing factor. Besides this, the rising demand
for email encryption in healthcare and banking, financial services, and
insurance (BFSI) sectors to store data in the cloud to minimize dependence on
internal information technology (IT) personnel and reduce licensing and
maintenance costs while operating encryption services on a pay-per-use model
propelling the market growth. Along with this, the recent outbreak of the
coronavirus disease (COVID-19) pandemic resulted in the adoption of a
work-from-home (WFH) culture, accelerating the product adoption rate. 

Apart
from this, the email encryption market is growing at different rates in
numerous regions, with North America being one of the largest markets due to
the surging need for data security and protection against cyber-attacks,
widespread adoption of cloud technology, and the presence of numerous key
players of email encryption across the region. Moreover, the industry is
expected to face competition in the upcoming years as numerous key players are
implementing competitive strategies to sustain their presence in the market.
For instance, in May 2021, Sophos introduced a unique XDR solution that
integrates with native endpoints, firewalls, servers, and email security
systems to mitigate complex ransomware and other cybercrimes.

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What is included in market segmentation?

The report has segmented the market into the following categories:

Market Segmentation by Encryption Type:

• End-To-End Email Encryption
• Gateway Email Encryption
• Boundary Email Encryption
• Hybrid Email Encryption
• Client Plugins

Market Segmentation by Deployment Type:

Market Segmentation by Component:

• Solution
• Service
• Training and Education
• Support and Maintenance

Market Segmentation by End-User:

• BFSI
• Healthcare
• Government
• IT & Telecom
• Others

Market Segmentation by Organization Size:

• Small and Medium Sized Organizations
• Large Size Organizations

Market Segmentation by Region:

• Asia Pacific
• Europe
• North America
• Middle East and Africa
• Latin America

Who are the key players operating in the industry?

The report covers the major market players including:

• Cisco Systems, Inc. (CSCO)
• Proofpoint
• Symantec
• Trend Micro
• Zix
• Cryptzone
• DataMotion
• Echoworx
• Egress Software Technologies
• Entrust
• Greenview Data
• HPE
• McAfee
• Microsoft
• Sophos
• Virtru
• WatchGuard Technologies, etc.

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