IMARC Group expects the market to reach US$ 20.7 Billion by 2032, exhibiting a growth rate (CAGR) of 22.7% during 2024-2032.

NEW YORK, BROOKLYN, UNITED STATE, February 7, 2024 /EINPresswire.com/ -- The latest report by IMARC Group, titled “Email Encryption Market Report by Encryption Type (End-To-End Email Encryption, Gateway Email Encryption, Boundary Email Encryption, Hybrid Email Encryption, Client Plugins), Deployment Type (On-Premise, Cloud Based), Component (Solution, Service), End-User (BFSI, Healthcare, Government, IT & Telecom, and Others), Organization Size (Small and Medium Size Organizations, Large Size Organizations), and Region 2024-2032“, The global email encryption market size reached US$ 3.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 20.7 Billion by 2032, exhibiting a growth rate (CAGR) of 22.7% during 2024-2032.

Factors Affecting the Growth of Email Encryption Industry:

Rising Data Security Concerns:

In the digital age today, data security has become a paramount concern for individuals and organizations alike. With the increasing volume of sensitive information being transmitted through emails, the need to safeguard this data from unauthorized access and breaches has intensified. Email encryption, which involves encoding the content of emails in a way that only authorized recipients can decipher, plays a crucial role in addressing these security concerns. The growing awareness about cyber threats and data breaches has prompted businesses and individuals to invest in robust email encryption solutions to protect their sensitive data, thereby driving the growth of the email encryption market.

Regulatory Compliance Requirements:

Governments and regulatory bodies across the globe have introduced stringent data protection laws and regulations, such as the General Data Protection Regulation (GDPR) in Europe and the Health Insurance Portability and Accountability Act (HIPAA) in the United States. These regulations mandate the protection of personal and sensitive data, including data sent via email. Failure to comply with these regulations can result in hefty fines and legal consequences. As a result, organizations are compelled to implement email encryption solutions to ensure compliance with these regulations. The need for email encryption as a means of adhering to legal and regulatory requirements is a significant driver for the growth of the market.

Rising Cybersecurity Threats:

Cyberattacks continue to evolve in sophistication, with hackers employing advanced techniques to breach email systems and steal sensitive information. Phishing attacks, ransomware, and business email compromise (BEC) are among the prevalent threats that target email communication. Email encryption serves as a potent defense against such threats by making it extremely difficult for unauthorized parties to intercept and decipher email content. As the frequency and severity of cyberattacks increase, organizations are increasingly recognizing the importance of email encryption as an essential component of their cybersecurity strategy. This heightened awareness about the need for robust email security solutions is a driving force behind the growth of the email encryption market.

Competitive Landscape with Key Player:

Cisco Systems
Proofpoint
Symantec
Trend Micro
Zix
Cryptzone
DataMotion
Echoworx
Egress Software Technologies
Entrust
Greenview Data
HPE
McAfee
Microsoft
Sophos
Virtru
WatchGuard Technologies

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/email-encryption-market/requestsample

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Encryption Type:

End-To-End Email Encryption
Gateway Email Encryption
Boundary Email Encryption
Hybrid Email Encryption
Client Plugins

End-to-end email encryption dominates the market as it provides the highest level of security by encrypting the email content on the device of the sender and decrypting it only on the device of the recipient, ensuring that no intermediaries or third parties can access the unencrypted data during transmission.

Breakup by Deployment Type:

On-premise
Cloud Based

On-premise holds maximum number of shares as it offers organizations direct control over their email encryption infrastructure and data, addressing security and compliance needs while catering to industries with stringent regulatory requirements and data privacy concerns.

Breakup by Component:

Solution
Service
Training and Education
Support and Maintenance

Service represents the largest segment as it encompasses a wide range of support, maintenance, and consulting services that are essential for the effective implementation and ongoing management of complex market research and consulting solutions, thereby adding substantial value to the overall offering.

Breakup by End-User:

BFSI
Healthcare
Government
IT & Telecom
Others

BFSI dominates the market due to the heavy reliance of the sector on secure and confidential data transmission, making robust email encryption solutions imperative to safeguard sensitive financial and consumer information.

Breakup by Organization Size:

Small and Medium Size Organizations
Large Size Organizations

Large size organization holds maximum number of shares as they typically handle a substantial volume of sensitive data, necessitating more comprehensive and sophisticated email encryption solutions to meet their security and compliance requirements.

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

North America’s dominance in the email encryption market is attributed to its universal need for secure communication transcends geographical boundaries, making it a fundamental requirement for individuals and organizations worldwide.

Explore Full Report with Table of Contents: https://www.imarcgroup.com/email-encryption-market

Global Email Encryption Market Trends:

The growing adoption of cloud-based email services, such as Gmail and Office 365, has led to an increased need for email encryption. As more organizations migrate their email infrastructure to the cloud, they seek to enhance the security of their data in transit and at rest. Cloud-based email encryption solutions offer convenience and scalability, making them an attractive choice for businesses looking to secure their email communications. Additionally, the widespread use of smartphones and tablets for business communication has created a need for email encryption on mobile devices. With employees accessing email on the go, often through unsecured Wi-Fi networks, the risk of data interception and breaches has risen. Email encryption solutions tailored for mobile platforms have gained traction to ensure that sensitive emails remain protected when accessed from mobile devices.

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IMARC Services Private Limited
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