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Market Overview:
The email encryption market is estimated to garner significant traction worldwide. With email systems incorporated into every business system and growing digitization, the need for email encryption is growing too. According to Market Research Future (MRFR), the global email encryption market is poised to garner USD 25.8 billion by 2032, growing at a 26.60% CAGR throughout the review period (2023–2032).
Accelerating digital transformation and adoption of cloud email services worldwide makes organizations reorganize their email encryption architecture and technology stack. With organizations increasingly working to consolidate technology vendors, the email encryption market is growing profusely. Besides, the rising demand for unparalleled phishing intelligence and deployments of email encryption platforms in enterprises worldwide substantiates the email encryption market growth.
Ongoing commitments of various organizations to improve the MSP ecosystem to solve the phishing problem and take email encryption to another level push the market growth further. Also, the growing demand for advanced email protection solutions that can address business requirements crates substantial market opportunities. The advent of advanced AI and automation capabilities impacts market growth positively.
Encryption providers strive to offer one-stop solutions for organizations’ email encryption needs, eliminating the need for many expensive and slow-to-deploy legacy solutions. They look forward to advancing phishing detection and response capabilities to disrupt the email encryption market. They lay the groundwork to support their customers and maintain high-quality solutions.
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Email Encryption Market Report Scope:
|
Report Metrics |
Details |
|
Email Encryption Market Size by 2032 |
USD 25.8 Billion (2030) |
|
Email Encryption Market CAGR during 2023-2032 |
26.60% |
|
Base Year |
2023 |
|
Forecast |
2023-2032 |
Segments:
The email encryption market is segmented into types, components, organization size, deployments, industry verticals, and regions. The type segment is sub-segmented into end-to-end encryption, gateway email encryption, boundary email encryption, hybrid encryption, and client plugins. The organization size segment is sub-segmented into small & medium enterprises (SMEs) and large enterprises.
The deployment type segment is divided into cloud and on-premise. The industry vertical segment is sub-segmented into BFSI, government, IT & telecom, healthcare, retail, defense, manufacturing, and others. The region segment is sub-segmented into the Americas, Europe, APAC, and the Rest-of-the-World.
Competitive Analysis:
The email encryption market is estimated to witness significant product launches and several strategic deals, such as collaboration, expansion, and mergers & acquisitions. Leading industry players invest significantly in research and development activities and drive their expansion plans.
For instance, recently, on Feb. 22, 2023, Trustifi, a leading provider of SaaS email security solutions, launched its new tokenization capability to revolutionize the email encryption category. Tokenization is a first-to-market offering that isolates and encrypts confidential material while keeping all other non-sensitive content instantly readable and searchable.
The new tokenization makes email encryption dramatically easier and faster, as well as allows users to read it through their inboxes while also increasing protected message open rates. Also, the new tokenization method lets users easily create one-click rules and policies that encrypt only the sensitive items within an email.
Key players involved in the email encryption market are Symantec Corporation(US), Micro Focus International PLC (UK), Trend Micro Inc.(Japan), Cisco Systems, Inc.(US), Sophos Group PLC (UK), Zix Corporation (US), BAE Systems PLC (UK), Proofpoint, Inc. (US), Entrust Datacard Corporation (US), Egress Software Technologies Ltd (UK), Mimecast Services Limited (US), and Intermedia.net, Inc.(US), among others.
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Industry Trends:
AI-based email encryption and multi-factor authentication are major trends observed in the market. In today’s work-from-home (WFH) environment, policies related to employee devices and BYOD work scenarios should be comprehensive enough to immune email breaches and threats.
Also, the introduction of biometric authentication to email encryption platforms that enable secured password-less authentication options is one of the key industry trends. Many organizations are increasingly shifting their data storage to the cloud, thereby requiring high-encryption services.
Additionally, the high adoption of cloud-based technology by government agencies and BFSI, healthcare, and manufacturing sectors and the proliferation of digital transformation are megatrends impacting the market growth positively. However, rising uses of previously unknown cybersecurity vulnerabilities to break into victim networks are major factors restricting the growth of the email encryption market.
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Regional Analysis:
North America leads the global email encryption market due to advances in email encryption technologies. Besides, major solution providers and well-established IT infrastructure in this region substantiate the market growth. Substantial investments by various organizations to enhance their email encryption platforms and, thereby, business productivity drive regional market growth.
Moreover, the vast availability of improved marketing techniques, such as email marketing and increasing numbers of cell phone users, boosts the region’s market share. The North American email encryption market is projected to retain its dominance throughout the assessment period.
Europe stands second in the global email encryption market. The presence of various notable players and large deployments of email encryption platforms in marketing drive market growth. Additionally, rising numbers of SMEs and large enterprises with sizable investments are significant tailwinds for the region’s market growth.
Furthermore, the high adoption of cloud technologies in email marketing solutions across the growing number of retailers pushes regional market growth. The European email encryption market is predicted to create a substantial revenue pocket during the assessment period.
The Asia Pacific email encryption market is growing rapidly. Factors such as the increasing adoption of email marketing platforms for lead generation drive the regional market’s growth. The rising adoption of AI technology and cloud deployments by large enterprises and SMEs to enhance customer experience and operational performance boost the regional market’s development. The APAC email encryption market is expected to grow at a significant rate during the review period.
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