[187+ Pages Report] Facts and Factors have recently published the report titled “Email Encryption Market” which illustrates that the global Email Encryption market was estimated at around USD 4.68 Billion in 2020, and it is expected to provide revenue of about USD 15 Billion by end of 2026, developing at a CAGR of around 21.4% between 2021 and 2026.
Global Email Encryption Market: Overview
In the age of ever-changing formats of conflict, new fronts have been opening up and cybersecurity has emerged as the greatest non-physical threat. Email encryption nulls the usage of unauthorized access towards an invalid recipient. Email encryption is the technology that converts text that requires a private code to unwind to the original message. In most cases, encryption requires authentication from the sender as well as the receiver. Most email encryption usages point toward dispatching sensitive information such as login credentials or bank account numbers.
Global Email Encryption Market: Growth Factors
Rapid adaption of technology such as cloud-based services has cleared the pathway for small and medium scaled industries to usher towards the big players. Furthermore, an increase in the intensity of phishing and BEC scams leading to incredible financial losses push the requirements for better encryption solutions. Other factors that have enabled requiring email encryption as standard practices can be marked down to rise in targeted malware attacks, rise of misinformation spread during the pandemic and an escalation of spoofing of customers and employees for additional financial gains.
Several firms across the world rely heavily on emails as the most basic form of conversation. Over the year various government bodies across the world have formed their separate entities regarding concerns for data privacy and security leading to the formation of stringent policies. Policies that demand better protection of their citizens, as well as specific conditions for operation such as setting the location of server spaces within boundaries of the country, are being put in place. As such policies become effective; companies will begin opting for a superior security measure in order to stay applicable. However, the higher cost of initial purchase and installation and the better lack of an alternate solution hinders the growth of the market to a certain degree.
Global Email Encryption Market: Segmentation
The Email encryption market can be segmented in accordance with components, type, deployment mode, industry verticals, industry size, and regions.
The component segment can be further segregated to solutions and services. The service segment can be further broken down into training & education and support & maintenance. The service segment will occupy the larger share from the latter with an increase in prevalence of organizations to rely on email-based communication. The type segment can be disintegrated into end-to-end encryption, hybrid, client-plugins, and gateway. The deployment mode segment breaks down into on-premises and cloud-based services. The cloud-based services are expected to witness a higher growing CAGR due to the mobility and speedy solutions. The industry verticals can be further categorized into Healthcare, BSFI, Government and public services, Energy & Utilities, Manufacturing & Retail, Telecom & ITI, and others. The BSFI and IT & Telecom sectors are expected to grow at the highest rate as they are the most targeted due to the high volume of diplomatic information they hold. Based on the industry size, the market can be segmented into large enterprises and SME’s. The large-scale industry account for the highest market share in the latter segment due to an uproar of spending on additional security means.
Global Email Encryption Market: Regional Analysis
North American region is expected to carry the highest margin in terms of market share due to early acquisition alongside visible existence of vendors that provide email encryption. Furthermore, reasons pertaining to awareness among organizations to secure data from cypher-attacks and other phishing scams led to implementation of email encryption on their servers.
Europe and Asia-Pacific region will contribute a larger share in revenue in market share as both regions are expected to witness a boom due to rise in inception of IT services, Healthcare sector and government utilities. As most organizations communicate via email among these regions, the need for an encrypted email system in place sounds more viable and necessary.
Global Email Encryption Market: Competitive Players
Some main participants of the global email encryption market are Micro focus International PLC, Sophos Group PLC, Zix Corporations, Microsoft Corporation, CISCO systems, Entrust Inc., Proofpoint, BAE Systems, Trend Micro, among others.
Global Email Encryption Market: By Component Segment Analysis
Global Email Encryption Market: By Type Segment Analysis
Global Email Encryption Market: By Deployment Mode Segment Analysis
Global Email Encryption Market: By Industry Vertical Segment Analysis
Global Email Encryption Market: By Regional Segment Analysis
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