Overview and Scope
Email encryption is a method of authentication that prevents messages from being read by an unauthorized or unintended person. The original message is sent in a scrambled form that is either impossible to read or impossible to decipher. Sharing sensitive information via email requires email encryption.
Sizing and Forecast
The email encryption market size has grown exponentially in recent years. It will grow from $6.4 billion in 2023 to $7.91 billion in 2024 at a compound annual growth rate (CAGR) of 23.6%. The growth in the historic period can be attributed to data privacy concerns, compliance regulations, rise in cyber threats, increasing use of mobile devices, globalization of business.
The email encryption market size is expected to see exponential growth in the next few years. It will grow to $18.34 billion in 2028 at a compound annual growth rate (CAGR) of 23.4%. The growth in the forecast period can be attributed to evolution of advanced threats, remote work security, quantum computing threats, enhanced user experience. Major trends in the forecast period include integration with collaboration tools, end-to-end encryption, cloud-based encryption solutions, advanced threat protection, user-friendly encryption interfaces.
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Segmentation & Regional Insights
The email encryption market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Organization Size: Large Enterprises, Small and Medium Enterprises (SMEs)
4) By Vertical: BFSI, Government and Defense, IT and ITeS, Telecommunication, Energy and Utilities, Manufacturing, Retail and eCommerce, Healthcare, Other Verticals
North America was the largest region in the email encryption market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the email encryption market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Rising instances of enterprise email threats are expected to propel the growth of the email encryption market going forward. Email threats are a type of email fraud in which cybercriminals pretend to be reputable organizations to access private data. Email encryption encrypts emails with the help of advanced technologies, which offer end-to-end email encryption to businesses and protect the email threats attached along with the email. For instance, in February 2021, Google LLC, a US-based technology company, blocked an average of 100 million harmful emails from reaching Gmail users daily. Therefore, rising instances of enterprise email threats are driving the email encryption market growth.
Key Industry Players
Major companies operating in the email encryption market report are Cisco Systems Inc., Broadcom Inc., Hewlett Packard Enterprise Company, BAE Systems plc, Thales Group, CipherMail B.V., Fortinet lnc., OpenText Corporation, Micro Focus International plc, Trend Micro Incorporated, Proofpoint Inc., Entrust Corporation, Zoho Corporation, Fortra Technologies, Barracuda Networks lnc., Intermedia.Net Inc., Retarus GmbH, Proton AG, Proton Technologies AG, Mimecast Services limited, Zix Corporation, Sophos Ltd., Virtru Corporation, Hush Communications Canada Inc., Lux Scientiae Incorporated, Echoworx Corporation, Egress Software Technologies Ltd., SSH Communications Security Corporation, Seclore Technology Pvt. Ltd., NeoCertified, Paubox lnc., PreVeil lnc., Sealit LLC, Symantec Corporation, HP Development Company, Microsoft Corporation
The email encryption market report table of contents includes:
1. Executive Summary
2. Email Encryption Market Characteristics
3. Email Encryption Market Trends And Strategies
4. Email Encryption Market – Macro Economic Scenario
5. Global Email Encryption Market Size and Growth
…..
32. Global Email Encryption Market Competitive Benchmarking
33. Global Email Encryption Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Email Encryption Market
35. Email Encryption Market Future Outlook and Potential Analysis
36. Appendix
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