The global email encryption market size reached US$ 2.5 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 9.9 Billion by 2028, exhibiting a growth rate (CAGR) of 26.08% during 2023-2028.
Email encryption refers to the authentication mechanism of encoding and disguising the contents of an email to protect it from unauthorized access. Email is an extremely vulnerable mode of communication that can be hacked over unsecured or public networks. Encryption is one of the primary data security solutions in the present times. It secures the contents of the email by making them unreadable as they get transferred over networks. The methodology primarily depends on cryptography wherein the user publishes a key to decrypt the message. Email encryption is an essential tool for both organizations and individuals as it prevents the access of important and confidential data by unintended users.
The rising demand for cloud-based services along with increasing data security concerns and privacy regulations is the key factor driving the growth of the market. Furthermore, frequent instances of phishing and spam emails are also positively influencing the market. With a significant increase in the usage of email services by corporate organizations and individuals, the probability of unauthorized and unidentified sources accessing the content has increased. This has encouraged consumers to implement email encryption to secure their sensitive data against losses and manipulation. Additionally, it also prevents cyber threats and attacks through malware, spam, viruses, Business Email Compromise (BEC) and other intrusions that expose sensitive enterprise information. Moreover, the thriving banking, financial services, and insurance (BFSI) and healthcare industries are also driving the market growth. The organizations within these industries now store their data on the cloud and operate on the pay-per-use model of the encryption service. This provides flexibility and scalability to accommodate the diverse needs of organizations and reduces the dependence on the internal IT personnel along with licensing and maintenance costs for the user.
Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global email encryption market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on encryption type, deployment type, component, end-user and organization size.
Breakup by Encryption Type:
End-To-End Email Encryption
Gateway Email Encryption
Boundary Email Encryption
Hybrid Email Encryption
Breakup by Deployment Type:
Breakup by Component:
Training and Education
Support and Maintenance
Breakup by End-User:
IT & Telecom
Breakup by Organization Size:
Small and Medium Size Organizations
Large Size Organizations
Breakup by Region:
Middle East and Africa
The report has also analyzed the competitive landscape of the market with some of the key players being Cisco Systems, Proofpoint, Symantec, Trend Micro, Zix, Cryptzone, DataMotion, Echoworx, Egress Software Technologies, Entrust, Greenview Data, HPE, McAfee, Microsoft, Sophos, Virtru, WatchGuard Technologies, etc.
Key Questions Answered in This Report:
What was the size of the global email encryption market in 2022?
What is the expected growth rate of the global email encryption market during 2023-2028?
What are the key factors driving the global email encryption market?
What has been the impact of COVID-19 on the global email encryption market?
What is the breakup of the global email encryption market based on the encryption type?
What is the breakup of the global email encryption market based on the deployment type?
What is the breakup of the global email encryption market based on the component?
What is the breakup of the global email encryption market based on the end-user?
What is the breakup of the global email encryption market based on the organization size?
What are the key regions in the global email encryption market?
Who are the key players/companies in the global email encryption market?