Global Email Encryption Market Size to Reach USD 45.50 Billion in 2032 | Emergen Research
Rising demand for cost-effective encryption solutions and increasing need to meet HIPAA compliance standards are some key factors driving market growth
Vancouver, Nov. 01, 2023 (GLOBE NEWSWIRE) — The global email encryption market size reached USD 3.36 Billion in 2020 and is expected to register a CAGR of 24.3% during the forecast period, according to latest analysis by Emergen Research. Global email encryption market revenue is expected to increase significantly during the forecast period due to rising demand for more cost-effective encryption solutions. In addition, increasing need to meet Health Insurance Portability and Accountability (HIPAA) compliance is expected to boost global email encryption market growth over the forecast period. Furthermore, rising adoption of Bring Your Own Device (BYOD) trend across various sectors is expected to augment global email encryption market growth over the forecast period.
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However, requirement of key management and validation solutions for encrypting keys is expected to hamper global email encryption market growth to some extent during the forecast period.
Scope of Research
|Market size in 2020||USD 3.36 Billion|
|Revenue forecast in 2032||USD 45.50 Billion|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD Billion and CAGR in % from 2023 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Deployment, Component, End-use, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Country scope||U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, BENELUX, Rest of Europe, China, Japan, South Korea, India, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA|
|Key companies profiled||Cisco Systems, Inc., Micro Focus International plc, Trend Micro Inc., Sophos Group plc, Norton LifeLock Inc., BAE Systems plc, Zix Corporation, Proofpoint, Inc., Mimecast Limited, and Echoworx|
|Customization scope||10 hours of free customization and expert consultation|
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Major Companies and Competitive Landscape
The global email encryption market is fairly fragmented, with a number of large and medium-sized market players accounting for major revenue share. Key players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, adopting more advanced technologies in email encryption solutions, developing, testing, and introducing new and more efficient solutions in the market. Some prominent players operating in the email encryption market are:
- Cisco Systems, Inc.
- Micro Focus International plc
- Trend Micro Inc.
- Sophos Group plc
- Norton LifeLock Inc.
- BAE Systems plc
- Zix Corporation
- Proofpoint, Inc.
- Mimecast Limited
In July 2020, Micro Focus International plc announced the acquisition of ATAR Labs. Through this acquisition, Micro Focus International will expand its enterprise security services.
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Some Key Highlights in the Report
- Rising adoption of cloud-based email encryption solutions by end-users to reduce operating expenses is driving revenue growth of the cloud segment, which is expected to register a significantly rapid CAGR over the forecast period.
- In terms of revenue, the service segment is expected to register significant growth over the forecast period due to increasing demand for services with rising adoption of email encryption solutions.
- The IT & telecom segment is expected to register significant revenue growth during the forecast period due to rising implementation of email encryption solutions across the IT & telecom industry to enable data protection and prevent cyber-attacks.
- Asia Pacific is expected to register fastest revenue growth rate during the forecast period due to rising implementation of email encryption solutions across various sectors to protect confidential data from cyber-attacks in countries in the region.
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Emergen Research has segmented the global email encryption market on the basis of deployment, component, end-use, and region:
- Deployment Outlook (Revenue, USD Billion; 2019–2032)
- Component Outlook (Revenue, USD Billion; 2019–2032)
- End-use Outlook (Revenue, USD Billion; 2019–2032)
- IT & Telecom
- Energy and Utilities
- Media & Entertainment
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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