Email Security Market Size Set For Explosive Growth | Cisco Systems, Inc, Gen Digital Inc

The global email security market is projected to experience significant growth over the forecast period 2022-2029. In 2021, the market was valued at approximately USD 3.50 billion, and it is anticipated to grow at a healthy growth rate of more than 12.8% during the forecast period.

The market growth is driven by various factors, including the increasing rate of cyber threats and the growing inclination towards cloud-based secure email gateways.

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Email security plays a crucial role in protecting the confidentiality, integrity, and availability of email communications, which contain sensitive and confidential information for individuals and organizations. The importance of email security has increased over the years due to the rising number of cyber threats. According to Statista, in 2022, around four in ten global internet users have experienced cybercrime.

This highlights the need for robust email security measures to protect against unauthorized access, data breaches, malware, phishing attacks, and other cyber threats.

Recent incidents, such as the cybersecurity breach faced by MetaMask in 2023, further underscore the significance of email security. Unauthorized individuals gained access to customer support tickets, potentially compromising users' sensitive information.

Cyberattacks are prevalent in various industries, with manufacturing having the highest share of cyber-attacks in 2022, followed by finance and insurance and professional, business, and consumer services.

Cloud-based secure email gateways are gaining traction in the market. These solutions, hosted by cloud email security vendors, protect users from phishing and block emails containing malicious content.

The cloud-based email security market was valued at approximately USD 763 million in 2020 and is expected to reach around USD 1.25 billion by 2026, according to Statista.

Government security compliance requirements and the increasing risk of potential credential theft also contribute to the market's growth prospects. However, the lack of awareness related to email encryption may hinder market growth during the forecast period.

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Geographically, North America dominates the global email security market in terms of revenue, attributed to the presence of key market players and technological advancements in email security solutions. In the United States, email usage is prevalent, with approximately 92% of the digital population aged 15 and above using emails for online communication. Asia Pacific is expected to witness the highest compound annual growth rate (CAGR) during the forecast period, driven by the growing number of small and medium-sized enterprises in countries like India and China.

Key market players in the global email security market include Cisco Systems, Inc., Gen Digital Inc, McAfee Corp, Microsoft Corporation, Dell, Inc, SAP SE, BAE Systems plc, WatchGuard Technologies, Inc., Sophos Group plc, and Fortra, LLC. These companies are engaged in developing innovative email security solutions to meet the increasing demand and address evolving cyber threats.

In conclusion, the global email security market is experiencing significant growth due to the rising cyber threats and the adoption of cloud-based secure email gateways. The market is expected to expand further as organizations and individuals recognize the importance of protecting email communications and sensitive information from unauthorized access and cyber attacks.

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