The global email encryption market reached a value of US$ 2.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.9 Billion by 2027, exhibiting a CAGR of 25.97% during 2022-2027.
Email encryption refers to the authentication mechanism of encoding and disguising the contents of an email to protect sensitive information from unauthorized access. It relies on cryptography, using which the user publishes a key to decrypt the message. It also uses digital signature mechanisms to safeguard confidential data against cyberattacks. As a result, various organizations and individuals are adopting email encryption solutions to make the email unreadable for unintended users.
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COVID-19 Impact Analysis
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Email Encryption Market Trends
The market is primarily driven by the increasing data security concerns due to the rising instances of phishing and spam emails. In addition, the rising adoption of email services by corporate organizations and individuals is escalating the demand for email encryption to secure sensitive data against losses and manipulation. Besides this, various organizations within the banking, financial services, and insurance (BFSI) and healthcare industries are storing their data on the cloud to reduce the dependence on internal IT personnel and minimize licensing and maintenance costs. This, coupled with the rising deployment of the work-from-home (WFH) model due to the recent outbreak of coronavirus disease (COVID-19) pandemic, is escalating the adoption of email encryption solutions. Furthermore, several leading players are focusing on improving the security features of their email services by adding new security layers, which is expected to propel market growth in the coming years.
Some of the major players in the market are Cisco Systems, Proofpoint, Symantec, Trend Micro, Zix, Cryptzone, DataMotion, Echoworx, Egress Software Technologies, Entrust, Greenview Data, HPE, McAfee, Microsoft, Sophos, Virtru, WatchGuard Technologies, etc.
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Key Market Segmentation:
Market Segmentation by Encryption Type:
• End-To-End Email Encryption
• Gateway Email Encryption
• Boundary Email Encryption
• Hybrid Email Encryption
• Client Plugins
Market Segmentation by Deployment Type:
• Cloud Based
Market Segmentation by Component:
• Training and Education
• Support and Maintenance
Market Segmentation by End-User:
• IT & Telecom
Market Segmentation by Organization Size:
• Small and Medium Sized Organizations
• Large Size Organizations
Market Segmentation by Region:
• Asia Pacific
• North America
• Middle East and Africa
• Latin America
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