Global Email Encryption Market (2021-2027) by Component, Type, Encryption Type, Deployment, Organization Size, Industry Vertical, and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis
The Global Email Encryption Market is estimated to be USD 4.7 Bn in 2021 and is expected to reach USD 17.09 Bn by 2027, growing at a CAGR of 24%.
Key factors such as the rise in the number of cyber-attacks, including email-based phishing, BEC scams, and other related data breaches, have led the organizations to huge financial losses. The rising number of malicious activities for data theft has been a prominent driver for the Global e-mail encryption market. The increasing privacy regulations mandating encryption for compliance and data safety are likely to further augment the growth of the market.
Conversely, the costs involved in the deployment of these solutions are likely to increase the total costs of the organization.
- Growing Number of BEC scams and Rising Data Security Concern
- Stringent Government Regulation for The Data Protection
- The High Cost of The E-mail Encryption Solutions
- Growing Adoption of Multi-Cloud Services
- A Surge in BYOD Policy in Enterprises
- Issues in Encrypting Key Management and Verification
- Device Compatibility Issues and Lack of Common Standards
By Component, the Solutions segment is estimated to hold the highest market share. With the rise in data breaches, organizations are becoming extremely cautious about the data present in the e-mail servers and are implementing measures to prevent the development of unwanted outcomes. Therefore, they are willingly adopting e-mail encryption solutions as these solutions can encrypt internal and external communication to protect vital information and ensuring continuous compliance.
By Type, the Web segment is estimated to hold the highest market share. Organizations use several web-based platforms for formal e-mail communication to different industry stakeholders, giving rise to data theft possibilities via e-mail breaches. Besides, the rising adoption of cloud-based models and BYOD devices is likely to increase the market segment's demand further.
By Type, the End To End E-Mail Encryption is estimated to hold the highest market share. It is mainly due to the protection it offers during the transmission of confidential e-mails from a sender to a recipient. Since it can use a centralized public key, only authorized personnel owns the right over the information, thereby reducing the email-related data losses. This is likely to support the growth of the market segment.
By Deployment, the Cloud-based deployment is estimated to hold the highest market share due to its scalability and flexibility in accessing the e-mail encryption through various IT Infrastructures. The adoption of cloud-based models can lower costs substantially and help improve data storage and mobility amongst users. These factors are likely to contribute to the growth of the segment.
By Organization Size, the Small and Medium-Sized enterprise is estimated to hold the highest market share. This growth is majorly due to the increased adoption of mobile devices for transferring e-mails over business networks to laptops and other handheld devices. This has resulted in the rise of data thefts and data losses. Therefore, the rising security challenges are likely to witness a high demand for e-mail encryption services amongst the SMEs, thereby contributing to the market segment growth.
By Industry Vertical, the BFSI vertical is estimated to hold the highest market share. The BFSI generates large volumes of transactions daily. Hence, the sector is likely to demand e-mail encryption solutions to ensure encrypted services through e-mail transfers. They hold vital information since e-mail messaging is still considered a formal communication mode for commercial purposes. Further, the increasing adoption of online banking and other mobile banking and related services has led to the possibility of numerous insider threats, thereby contributing to the growth of the segment.
By Geography, North America is projected to lead the market. The factors attributed to the growth of the market are the increasing e-mail scams and phishing attacks leading to the early adoption of e-mail encryption solutions and services. This has led to faster developments in the said market space. Also, the presence of established market players is adding to the growth of the market.
The Global Email Encryption Market is segmented further based on Component, Type, Encryption Type, Deployment, Organization Size, Industry Vertical, and Geography.Company Profiles
Some of the companies covered in this report are Proofpoint, Microsoft, McAfee, Entrust Data, TrendMicro, Micro Focus, BAE Systems, Mimecast, Gemalto, Intermedia, Cryptzone, Echoworx, Zix Corporation, Cisco, etc.IGR Competitive Quadrant
The report includes IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Why buy this report?
The report offers a comprehensive evaluation of the Global Email Encryption Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
The report also contains the competitive analysis using IGR Competitive Quadrant, Infogence’s proprietary competitive positioning tool.Report Highlights:
- A complete analysis of the market, including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market