The global Email Encryption Market size is projected to reach USD 22.3 billion by 2030, according to the latest report by Market Research Future (MRFR). It can expand at 22.6 % CAGR from 2022 to 2030. MRFR’s report on the email encryption market comprises growth drivers, challenges, and trends on the industry for the forecast period 2030. 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.
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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.
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.
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
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.
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
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