Development in Underlying Software Applications, Hardware Architectures to Drive Email Encryption Market at CAGR of 25% during Forecast Period - TMR Insights

- Rise in deployment of email applications on cloud that needs security layer underscores growth of the email encryption market

- Need to maintain email confidentiality and protection of sensitive information of business and other organizations to result in continued demand for email encryption

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Transparency Market Research

Aug 17, 2021, 09:30 ET

ALBANY, N.Y., Aug. 17, 2021 /PRNewswire/ --

Email Encryption Market: Overview

The rise in the volume of email communication from the year 2000 until today that is susceptible to breach needs to be protected via email encryption for its intended use. The criticality of information mainly for business enterprises, government departments, and other organizations transmitted via email raised concerns to encrypt information to be used only by the intended recipient. In order to serve this, and with consistent technology add-ons, today, email encryption is a lucrative business. The email encryption market is projected to surpass the valuation of US$ 25.3 Bn by 2030.

There are several technological tools available to encrypt email messages. For instance, a personal email certificate is an email protection that digitally signs the sender's messages, thus, reducing the number of spam messages that can be sent using the former's name and email account. The digital signature appended allows the recipient to know if the message received was sent by the intended sender; spoofed messages will not have digital signatures to warn recipients of spam or malicious content.

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Email Encryption Market – Key Findings of Report

Surge in Internet Users for Business Communication Fuels Market Growth

The pervasive use of email in business enterprises and other organizations led to the need of a robust email security solution. A number of prominent software companies is in the email encryption bandwagon is striving to improve current email encryption landscape. End-to-end encryption to safeguard privacy of sensitive information is one of the key focus areas for players in the email encryption market.

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Increase in Deployment on Cloud Drives Need for Encryption

The increasing deployment on cloud of major email applications that necessarily need the security layer is creating many opportunities in the email encryption market. According to the Cloud Adoption Risk Report of Skyhigh Networks, 83.3% email applications are already on the cloud. Email encryption enhances the privacy of data shared on the cloud. With estimations of cloud services to be a primary mode of deployment of email applications and email servers, the demand for email encryption is set to grow.

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Continued Use of Predecessor Operating Systems Propels Demand

According to the available data, 69% of businesses worldwide continue to use Windows 7, 5% use Windows 8, and 14% use Windows XP, which do not receive the support of Microsoft since 2014. The vulnerability of email to cyberattacks sent over predecessor operating systems necessitates messages within the mail to be encrypted to prevent business loses. A report by The Cybersecurity Imperative reports annual loses from cyberattacks averaging to US$ 4.7 Mn in 2018, with more than one in 10 business enterprises incurring losses of over US$ 10 Mn.

Email Encryption Market: Growth Drivers

Scope of improvement of privacy regulations initially formed in the 2000 for electronically transmitted data via the Internet to be in line with modern day requirements fuels email encryption market growth
Rising need to minimize email-based phishing activities, malware attacks, and spam messages continues to provide opportunities in the email encryption market

Email Encryption Market: Key Players

Some of the key players in the email encryption market are as follows:

Broadcom Inc.
Dell Technologies Inc.
IBM Corporation
Micro Focus
Tenable Inc.
Juniper Networks Inc.
Mimecast Services Limited
Forcepoint
Virtru
Cisco Systems Inc.
IBM Corporation
McAfee Inc.
Microsoft Corporation
Trend Micro Incorporated
Sophos Ltd.
Proofpoint Inc.
Skybox Security Inc.

Global Email Encryption Market: Segmentation

Email Encryption Market, by Component

Software

Boundary Email Encryption
Gateway-to-gateway Email Encryption
End to End Email Encryption
Hybrid E-mail Encryption

Services

Installation & Integration
Consulting, Training & Support

Email Encryption Market, by Server Type

Cloud-based Email Server
On-premise Email Server

Email Encryption Market, by Enterprise Size

Small & Medium Enterprise
Large Enterprise

Email Encryption Market, by Industry

IT & Telecom
BFSI
Retail & Wholesale
Healthcare
Media & Education
Government
Others (Hospitality etc.)

Email Encryption Market, by Region

North America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America

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