The global email encryption market is poised for robust growth, with a projected Compound Annual Growth Rate (CAGR) of 17% over the period spanning 2022 to 2032. This momentum is anticipated to drive the market’s value to an estimated US$ 24.8 billion by 2032, a significant surge from its 2021 valuation of US$ 4.2 billion.
Email encryption serves as a pivotal safeguard for sensitive data exchanged through email communication. By employing encryption keys, it fortifies the security of information conveyed via emails, effectively mitigating the risks associated with unauthorized access. The proliferation of email usage for both corporate and personal correspondence has heightened concerns about the vulnerability of sensitive data. In response to these apprehensions, organizations are increasingly adopting email encryption software as a proactive measure to shield their data from potential theft and loss.
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Market Dynamics:
The email encryption market has evolved in response to the growing demand for secure communication. Several key factors have contributed to its significant growth:
- Rising Cybersecurity Concerns: High-profile data breaches and cyberattacks have raised awareness about the vulnerability of email communication. Organizations and individuals alike are investing in email encryption solutions to safeguard their data from unauthorized access.
- Stringent Data Privacy Regulations: The implementation of data protection regulations, such as GDPR in Europe and CCPA in California, has compelled organizations to take email security seriously. These regulations require the encryption of sensitive personal information to avoid hefty fines and legal consequences.
- Increased Remote Work: The COVID-19 pandemic accelerated the adoption of remote work, leading to a surge in email communication. As a result, the demand for email encryption solutions has increased to ensure data security in distributed work environments.
- Technological Advancements: The development of user-friendly email encryption solutions and integration with popular email platforms has made it easier for individuals and organizations to adopt secure communication methods.
Competitive landscape:
The market for email encryption is moderately competitive, with a large number of global and regional companies. These firms control a sizable portion of the email encryption market and are concentrating their efforts on extending their customer base around the world.
The email encryption market vendors are also concentrating on R&D investments to launch new solutions, strategic collaborations, and other organic & inorganic growth strategies to gain a competitive advantage over the projection period.
Recent Developments in the Email Encryption Market
- Sophos Email Advanced Portal Encryption will be available to customers and partners as an add-on product to Sophos Email Advanced beginning in May 2021. Portal Encryption allows email senders to safely transmit encrypted communications to a web portal.
- Mimecast engaged established a strategic agreement with Netskope, a cloud security firm, in February 2021. Businesses will be able to safeguard cloud services and emails using enterprise-grade DLP solutions as a result of the strategic partnerships.
- MicrosoftTrend Micro will be a Microsoft Gold Certified Partner in January 2021. Trend Micro has a long history of providing Microsoft security solutions. Trend Micro Cloud App Security, for example, interacts directly with Microsoft Office 365 to safeguard incoming and internal Office 365 emails against sophisticated malware and other threats.
- Proofpoint Essentials Security Awareness will be available in August 2020. Through threat simulations, this system trains SMEs to recognise high-risk situations. This lessens the effect of phishing attacks and malware outbreaks.
Key Segments :
· Based on Type:
- End-to-end email encryption
- Gateway email encryption
- Boundary email encryption
- Hybrid email encryption
- Client plugins
· Based on Component:
- Solutions
- Services
· Based on Deployment Mode:
- Cloud
- On-premises
· Based on Organization Size:
- Large Enterprises
- SMEs
· Based on the Vertical:
- BFSI
- Government and Defense
- IT and ITeS
- Telecommunication
- Energy and Utilities
- Manufacturing
- Retail and eCommerce
- Healthcare
- Other verticals (media and entertainment, education, and travel and transportation)
· Based on the Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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How will be insights and market estimations provided in the Fact.MR report on the Demand of Email Encryption make a difference?
- The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
- The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
- The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
- Provides scrutiny of the industry trends that have shaped recent government policies
- Provides an account of major breakthroughs in all segments that might change the course of the market considerably
- Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Email Encryption Market
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