Cloud-based Email Security Market 2021 by Technology and Growth – Cisco Systems Inc., Proofpoint Inc., Trend Micro Inc., and Fortinet Inc

Cloud-based Email Security Market - Growth, Trends and Forecasts (2020 - 2025)

The report will make detailed analysis mainly on in-depth research on the development environment, Market size, development trend, operation situation and future development trend of Cloud-based Email Security Market on the basis of stating current situation of the industry in 2021.

This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact is covered in the report. It offers critical information pertaining to the current and future growth of the market.

The global cloud-based email security market was valued at USD 762.82 million in 2019, and it is expected to reach a value of USD 1246.99 million by 2025, at a CAGR of 8.68%, during the forecast period from 2020 to 2025.

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Competitive Landscape

The global cloud-based email security market is entirely consolidated due to fewer players occupying the larger market share. The new players are trying to penetrate the established market. Some key players in the market are Cisco Systems Inc., Proofpoint Inc., Trend Micro Inc., and Fortinet Inc.

Some recent developments in the market include:
- February 2020 - Cisco Systems Inc. incorporated its security products into a single, cloud-native security platform called Cisco SecureX, which helps customers to strengthen security across all of their networks, endpoints, clouds, and application deployments. This increased visibility provides benefits to the customers, given the sheer size of Ciscos security portfolio, which includes various firewalls, web and email services, malware protection, and intrusion detection systems.
- September 2019 - Proofpoint, Inc., announced a partnership and integration with CrowdStrike, a leader in cloud-delivered endpoint protection, to provide organizations worldwide with advanced threat protection across email and endpoints. In the initial combination, Proofpoints superior Targeted Attack Protection (TAP) security intelligence will feed threat intelligence on malicious email attachments into CrowdStrike Falcon to enhance device security and stop attackers.

According to 99 Firms, a prominent email market vendor in the global market, there were about 3.9 billion email users worldwide in 2019, which is expected to reach approximately 4.3 billion in 2023. According to the data port, 45% of emails are spam, and email spam costs businesses about USD 20.5 billion annually. The growth of the cyber environment and related technologies paved the way for new threats. Cyberattacks are highly targeted, persistent, and technologically advanced.
- According to a study published by CenturyLink, cloud computing is expected to generate USD 411 billion, by 2020. The adoption of this technology is increasing significantly. The main reasons for moving to the cloud are scalability, increased effectiveness, faster implementation, mobility, and disaster recovery. Although the area of cloud computing is witnessing a rapid growth from the past few years, data privacy and software security are rising concerns, currently. According to the 2019 report od state of security operations, 4.1 billion data records are exposed to data breaches and cyberattacks.

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Key Market Trends: 

BFSI is Expected to Hold Major Share
- The financial sector generates a massive volume of data generated by its customers. Banks and financial organizations are increasingly employing services to store and analyze complex data to use the collected data through various data points and improve customer satisfaction. Additionally, with higher customer expectations, growing technological capabilities, and regulatory requirements, banking institutions are pushed to adopt a proactive approach to security. This has resulted in incorporating cloud-based security platforms.
- Cloud-based email solutions can help reduce implementation time and costs for banks trying to keep pace with regulations regarding organizational access control. The data is exponentially growing, with an increase in the number of e-transactions. Email exchanges within this sector, among employees and customers, contain crucial valuable information that is rather lucrative and can result in a high gain for hackers. Moreover, organizations in the investment banking sector, which use emails as a primary mode of communication, both internally and externally, are taking measures to encrypt and limit eavesdropping and hacking of their email accounts.
- To secure their IT processes and systems, secure customer critical data, and comply with government regulations, private and public banking institutions are focused on implementing the latest technology to prevent cyberattacks. Furthermore, with higher customer expectations, growing technological capabilities, and regulatory requirements, banking institutions are pushed to adopt a proactive approach to security. Cybercriminals are increasingly using a sophisticated range of tactics. Denial of services, phishing email attacks, and social engineering are the most expensive attack types for financial services firms.
- Machine learning and Artificial Intelligence (AI) are expected to emerge as a most sought-out solution in the future, as cybercriminals are also using similar capabilities to break in. It is expected to attract more investments in strengthening security capabilities by the organizations to counter and mitigate such risks. Moreover, according to Cisco Systems, by 2021, 70% of public and private companies are expected to be using cloud email services. The access to email from anywhere and on any device states that it is essential for organizations to protect themselves from increasingly prevalent threats.

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