Email Security Market Share, Demand, Growth, Key Opportunities, Key Players and Industry Analysis By 2025 (SARS-CoV-2, Covid-19 Analysis)
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Email Security Market. The growth sectors of the Email Security Market are identified with precision for a better growth perspective.
According to the analysis by Market Research Future (MRFR) the global email encryption market is slated to reach a market valuation of USD 6.84 billion by 2024, recording a substantial CAGR of 22.0% during the review period (2019–2024).
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Drivers and Restraints
The global market for email encryption is driven by several factors such as the growing utilization of emails for government, corporate, and personal communication between individuals business, or government agencies has improved the demand for email encryption to protect sensitive information from any unidentified, third party sources, or hackers. Moreover, the growing loss of assets, data, and information owing to cyber attacks and threats including malware, viruses, and spam has also risen the requirement of email encryption among numerous business organizations.
As e-mail is widely used with a sound understanding and used to communicate with untrusted external organizations, it becomes a frequent target of several attacks. The attackers can easily exploit e-mail to gain control over an organization, access confidential information, or disrupt IT resources to the external bodies. Therefore, some of the common threats to e-mail systems include cases that are:
Progressively, the attackers are fully taking advantage of e-mails in sending a range of attacks to organizations through the use of malware that consists of viruses, Trojan horses, and spyware. These attacks, when gets successful, give the malicious entity control over workstations and servers, which can then be exploited to gain access to sensitive information, monitor users’ activities, as well as perform other dangerous actions.
Spam—is commonly referred to as unsolicited commercial e-mail works as sending of unwanted bulk commercial e-mails to the companies. Such messages can easily disrupt user productivity, utilize IT resources, and be used as a distribution mechanism for malware. Spam also refers to the use of deceptive computer-based means to trick individuals from responding to the e-mail and disclosing confidential information.
Apart from hacking into a system, an attacker can use e-mail to gather sensitive information from an organization. A conventional social engineering attack is e-mail spoofing, in which one program successfully masquerades the other by falsifying the sender's information in the e-mails to hide the real ones.
On the basis of region, the global email encryption market is segmented into Europe, Asia Pacific, North America, and the rest of the world (RoW).
North America accounts for the largest regional market for email encryption and is likely to retain its dominance in terms of value, over the forecast period. This significant growth is attributed to several factors such as the presence of major market players which maintain the severe competitive scenario in North America. Moreover, the early adoption of ground-breaking technologies, the established It and telecommunications industry, along with the availability of funding for research and development activities, are expected to drive the North American email encryption market over the review period.
The Asia Pacific market for email encryption is poised to grow at a the fastet growt rate over the forecast period, owing to the growing business opportunities in the region which is attracting foreign investment at a higher pace, especially from global market players focusing on the expansion of their comoanies. This is expected to contribute towards the email encryption market in the asia pacific market over the review period.
Europe is a significant regional market for email encryption in terms of value, and is slated to reach a substantial market share over the assessment period. The growth of the market in the region is driven by the established IT and telecommunications industry as well as the presence of major market players that boosts the market in Europe, especially in successful countries such as Germany, France, and the UK, among others.
The major market players of the global email encryption market identified by MRFR include BAE Systems PLC (UK), Cisco Systems, Inc. (US), Egress Software Technologies Ltd (UK), Entrust Datacard Corporation (US), Intermedia.net, Inc.(the US), Micro Focus International PLC (UK), Mimecast Services Limited (US), Proofpoint, Inc. (US), Sophos Group PLC (UK), Symantec Corporation (US), Trend Micro Inc. (Japan), and Zix Corporation (US).
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April 2019: Google, one of the largest global tech giants, added a new security feature, SMTP MTA Strict Transport Security (MTA-STS), which used modern transport encryption to ensure incoming messages for a valid certificate.
April 2019: AppRiver, a Zix enterprise and significant provider of cloud-based cybersecurity, announced the availability of ZixEncrypt for all its partners. ZixEncrypt is a next-generation email encryption platform by Zix.
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