ID: MRFR/ICT/6577-HCR | February 2021 | Region: Global | 111 pages
Email encryption is defined as the process which involves encrypting email messages with public and private keys to protect critical information which can only be read by the intended recipient. With the increase in the number of cyber attacks and crimes, it is crucial for users to encrypt the conversations over emails, so as to protect the potentially sensitive information—login credentials, social security numbers, and bank account numbers—from hackers, which can lead to the loss of various valuable assets. The encryption renders the content of emails unreadable during the time taken to travel from the email origin to its destination, which protects the content from any person or a hacker. The increasing utilization of emails for corporate, government, and personal communication between business, individuals or government agencies has increased the demand for email encryption to protect sensitive information from any third party, unidentified sources, or hackers. Additionally, the increasing loss of data, assets, and information due to cyber attacks and threats such as viruses, malware, and spam has also increased the requirement of email encryption among various business organizations.
Email Encryption Market Key Players:
MRFR recognizes the key players in the global email encryption market as Micro Focus International PLC (UK), Symantec Corporation(US), Cisco Systems, Inc.(US), Trend Micro Inc.(Japan), Sophos Group PLC (UK), Proofpoint, Inc. (US), BAE Systems PLC (UK), Zix Corporation (US), Entrust Datacard Corporation (US), Mimecast Services limited(US), Egress Software Technologies Ltd (UK), and Intermedia.net, Inc.(US).
The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.
Global Email Encryption Market, 2017–2024 (USD Billion)
Source: MRFR Website
Email Encryption Market Regional Analysis:
The global email encryption market is estimated to grow at a significant rate during the forecast period from 2018 to 2024. The geographical analysis of email encryption has been conducted for North America (the US, Canada, Mexico), Europe (the UK, Germany, France, Spain, Italy, the rest of Europe), Asia-Pacific (China, Japan, India, Singapore, and the rest of Asia-Pacific), and the rest of the world (the Middle East and Africa and South America).
North America holds the largest market share in 2018 due to the presence of various key vendors such as Symantec Corporation, Cisco Systems, Inc., and Proofpoint, Inc. As these vendors offer various solutions to increase data security, reduce and prevent cyber-attacks, and ensure the continuity of businesses by maintaining the security and privacy of data for business organizations. Moreover, the early adoption of email encryption in the region is also a major factor driving the growth of the email encryption market in North America.
Europe holds the second largest position in terms of market share in the global email encryption market due to the presence of key players such as BAE Systems PLC, Sophos Group PLC, and Egress Software Technologies which are providing solutions to organizations and individuals as per the requirement.
Asia-Pacific is considered to be the fastest growing regional market due to the increasing business deals in the region and investments made by various companies for expansion; these are factors expected to drive the market growth in this region during the forecast period. Furthermore, most of the critical information among organizations are exchanged via emails, which makes email encryption an essential part of enterprises and organizations.
|Market Size||USD 6.84 Billion (2024)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Type, by Organization Size|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Micro Focus International PLC (UK), Symantec Corporation(US), Cisco Systems, Inc.(US), Trend Micro Inc.(Japan), Sophos Group PLC (UK), Proofpoint, Inc. (US), BAE Systems PLC (UK), Zix Corporation (US), Entrust Datacard Corporation (US), Mimecast Services limited(US), Egress Software Technologies Ltd (UK), and Intermedia.net, Inc.(US).|
|Key Market Opportunities||The increasing loss of data, assets, and information due to cyber attacks and threats such as viruses, malware, and spam has also increased the requirement of email encryption among various business organizations.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
A 22 % CAGR is projected to bolster the market in the coming period.
An income level valued at USD 6.84 billion is estimated to be gained by the market by 2024.
The increased attacks from trusted sources are expected to reduce the adoption rates of email encryption.
Sophos Group PLC (UK), Zix Corporation (US), Proofpoint, Inc. (US), Trend Micro Inc.(Japan), BAE Systems PLC (UK), Mimecast Services Limited(US) and Entrust Datacard Corporation (US) are inspiring the market’s growth.
The collective utilization of emails for government, corporate, and personal communication is expected to reinforce the global market in the forecast period.