Email Encryption Market, Size Receives a Rapid Boost in Economy due to High Emerging Demands by Scenario Forecast Till 2027 | Market Research Future

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Market Scenario:

The global Email Encryption Market size is projected to reach USD 6.84 billion by 2024, according to the latest report by Market Research Future (MRFR). It can expand at 22% CAGR from 2019 to 2024. MRFR’s report on the email encryption market comprises growth drivers, challenges, and trends on the industry for the forecast period (2020-2027). The COVID-19 pandemic and its implications are explored in depth in the market.

The global email encryption market is driven by large number of data breaches on major IT companies and government institutes. Email encryption is a means of preventing unauthorized users of reading confidential mails and protect privacy of individuals and companies. This is evident with rise of network traffic, increasing consumption of online data, and use of virtual private networks (VPNs) for accessing websites.

The use of emails to exchange information between various divisions in an organization is likely to trigger the demand for email encryption. This includes financials, health plan information, employee social security numbers, and other relevant information. Use of password protection and two-factor authentication on machines and devices for keeping data secure can augur favorably for the market.

But high costs of email encryption solutions may hamper market growth.

COVID-19 Impact on the Global Email Encryption Market

During this COVID-19 pandemic, even small businesses are gravitating toward working digitally, as required by regulatory and government bodies in order to maintain social distance. The increased use of email on home servers has increased the risk of fraud. The use of digital technologies like Data Loss Prevention, email authentication, and email encryption has increased globally as a result of the increased incidence of phishing and email scams in this pandemic. Organizations have been more proactive in protecting their sensitive data stored on email servers. Organizations can use email encryption to secure their data, resources, and confidential information from cyber-attacks.

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Competitive Outlook:

Proofpoint, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Symantec Corporation (U.S.), Trend Micro Inc. (Japan), Intermedia.net, Inc. (U.S.), Micro Focus International PLC (UK), BAE Systems PLC (UK), EntrU.S.t Datacard Corporation (U.S.), Zix Corporation (U.S.), Egress Software Technologies Ltd (UK), Sophos Group PLC (UK), and Mimecast Services limited (U.S.) are key players in the global email encryption market. Development of new features and collaborations are to be witnessed in the market.

Segmentation:

BFSI Vertical to Dominate Market Demand

The BFSI vertical is bound to command a major portion of the email encryption market owing to various financial transactions and exchange of data between companies and clients. Strict regulations and adherence to security requirements coupled with privy to confidential data from governments and high net worth individuals can augur favorably for the market. Deployment of email servers on

 

 

Regional Analysis:

North America to Lead in Global Email Encryption Market

North America is expected to take the lead in the global email encryption market owing to adoption of cloud services and huge demand for advanced security. Prevention of cyberattacks and focus on maintaining security within corporations can drive the regional market demand. Facilitation of business continuity and implementation of new solutions for protecting data can bode well for the market.

Industry News

Swiss Post, the state-owned mail delivery corporation has acquired a majority stake in Tresorit, a Swiss-Hungarian company. The company aims to increase the security of information exchange while delivering digital services to their clients.

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Table of Contents:

1          Executive Summary

2          Scope of the Report

2.1       Market Definition

2.2       Scope of the Study

2.2.1    Research objectives

2.2.2    Assumptions & Limitations

2.3       Markets Structure

Continued….

 

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