The growing integration of web-based technologies in business processes have led to increased cyber-criminal activities and threats in form of email attacks. This, in turn has encouraged business enterprises to invest in web security and email encryption solutions. The proliferation of mobile devices such as tablets and smartphones is an obvious driver of the BYOD concept which has boosted the use of wireless network, thereby augmenting possibilities of malware attacks. Thus, rise in the implementation of BYOD policies has been instrumental in driving the adoption of email encryption solutions among enterprises. The proliferation of cloud computing, web-based applications, and enterprise mobility have collectively paved the way for email encryption solutions to emerge as one of the most crucial solutions to drive business processes. These factors are expected to contribute towards a double digit compounded annual growth rate (CAGR) during the forecast period 2021 – 2029. However, high initial cost and low awareness regarding the benefits offered by these solutions are some of challenges faced by the market. The email encryption market is expected to exceed US$ 2.74 Bn by 2029, expanding at a CAGR of 22.7% between 2021 and 2029.
1.1 Report Scope
This report analyzes the global email encryption market in terms of deployment type, end-use verticals, and geographical distribution. On the basis of deployment type, the market is segmented into on-premise, and on-demand (cloud-based). Similarly, on the basis of end-use, the global email encryption market is further classified into IT and telecom, government, BFSI, retail, defense and intelligence, healthcare, and other application segments (aerospace, manufacturing, etc.). The geographical distribution of the global email encryption market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
1.2 Report Description
Purpose of the Report
The purpose of this strategic research study titled “Global Email Encryption Market- Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them to make informed strategic decisions related to the opportunities in the global email security market.
Target Audience
USP and Key Offerings
The report titled “Global Email Encryption Market- Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” offers strategic insights into the global email encryption market along with the market size and estimates for the duration of 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on deployment, end-users, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading email encryption solution providers, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global email encryption market, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above mentioned factors.
Enterprises across the globe recognize their responsibility towards clients, employees, and others who have shared with them their confidential information. Thus, they are increasingly focused towards protecting the sensitive confidential data entrusted to them. Not only have the needs to secure and protect confidential information, but also the privacy laws bolstered widespread implementation of email encryption solutions. Thus, email encryption has become an essential element to corporate organizations across the globe.
As of 2020, the global email encryption market was dominated by the BFSI (Banking, Financial Services and Insurance) segment. The trend is expected to continue and the segment is presumed to remain the largest end-use segment throughout the forecast period. The companies in this sector being more susceptible to fraudulent activities have greater adoption of e-mail encryption solutions. On the other hand, IT and Telecom is expected to emerge as the fastest growing end-use segment during the forecast period. The anticipated growth in the segment can be credited to the rise in the implementation of BYOD (Bring Your Own Device) and CYOD (Choose Your Own Device) policies.
The global email encryption market was dominated by on-premise solutions in base year 2020. The trend shall prolong and the segment is presumed to remain the largest revenue contributor to the global email encryption market by 2029. Since on-premise deployment allow businesses to manage confidential data all by themselves, the on-premise deployment technique is widely preferred. In addition, its ability to allow businesses to customize storage has further fueled adoption of on-premise solutions among end-users. On the other hand, on-demand (cloud based) email encryption solutions are witnessing an alarming rise in demand as businesses that traditionally deployed on-premise solutions are gradually moving all their services to the cloud. This is majorly on account of the superior benefits offered by cloud-based solutions in terms of scalability and initial purchase cost.
As of 2020, North America comprising the U.S. and Canada led the global email encryption market. The region accounted for around 35% of the global email encryption market revenue. The U.S. represents the largest and most lucrative individual email encryption market worldwide. Over the forecast period 2021 – 2029, the region is expected to hold on to its dominant position on account of the widespread implementation of standards and regulations (ex- DSS, PCI, and HIPAA) that promote use of email encryption solutions in the region. Asia Pacific is presumed to emerge as the fastest growing and most lucrative regional market during the forecast period. Investments dedicated towards IT infrastructure developments coupled with the rise in the number of small- and medium-sized businesses is expected to favor market growth in the region during the forecast period.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Email Encryption market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Billion |
| Segmentation | |
Deployment Type
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End-use Verticals
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Region Segment (2022-2032; US$ Billion)
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Key questions answered in this report
