In a recent published report, Kenneth Research has updated the market report for Email Encryption Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Email Encryption Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Market Synopsis
The global email encryption market is estimated to reach USD 6.84 billion by 2024, registering a CAGR of 22.0% during the forecast period of 2019–2024.Email encryption is defined as the process which involves encrypting email messages with public and private keys to protect critical information which can only be read by the intended recipient. With the increase in the number of cyber attacks and crimes, it is crucial for users to encrypt the conversations over emails, so as to protect the potentially sensitive information—login credentials, social security numbers, and bank account numbers—from hackers, which can lead to the loss of various valuable assets. The encryption renders the content of emails unreadable during the time taken to travel from the email origin to its destination, which protects the content from any person or a hacker.
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The increasing utilization of emails for corporate, government, and personal communication between business, individuals or government agencies has increased the demand for email encryption to protect sensitive information from any third party, unidentified sources, or hackers. Additionally, the increasing loss of data, assets, and information due to cyber attacks and threats such as viruses, malware, and spam has also increased the requirement of email encryption among various business organizations.
Segmentation
By type, the market has been segmented into end-to-end encryption, gateway email encryption, boundary email encryption, hybrid encryption, and client plugins.
By organization size, the market has been segmented into large enterprises and SMEs.
By deployment, the market has been segmented into cloud and on-premise.
By vertical, the market has been segmented into BFSI, government & defense, IT & telecom, healthcare, manufacturing, retail, and others.
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Key Players
MRFR recognizes the key players in the global email encryption market as Micro Focus International PLC (UK), Symantec Corporation(US), Cisco Systems, Inc.(US), Trend Micro Inc.(Japan), Sophos Group PLC (UK), Proofpoint, Inc. (US), BAE Systems PLC (UK), Zix Corporation (US), Entrust Datacard Corporation (US), Mimecast Services limited(US), Egress Software Technologies Ltd (UK), and Intermedia.net, Inc.(US).
The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.
Global Email Encryption Market, 2017–2024 (USD Billion)
Regional Analysis
The global email encryption market is estimated to grow at a significant rate during the forecast period from 2018 to 2024. The geographical analysis of email encryption has been conducted for North America (the US, Canada, Mexico), Europe (the UK, Germany, France, Spain, Italy, the rest of Europe), Asia-Pacific (China, Japan, India, Singapore, and the rest of Asia-Pacific), and the rest of the world (the Middle East and Africa and South America).
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North America holds the largest market share in 2018 due to the presence of various key vendors such as Symantec Corporation, Cisco Systems, Inc., and Proofpoint, Inc. As these vendors offer various solutions to increase data security, reduce and prevent cyber-attacks, and ensure the continuity of businesses by maintaining the security and privacy of data for business organizations. Moreover, the early adoption of email encryption in the region is also a major factor driving the growth of the email encryption market in North America.
Europe holds the second largest position in terms of market share in the global email encryption market due to the presence of key players such as BAE Systems PLC, Sophos Group PLC, and Egress Software Technologies which are providing solutions to organizations and individuals as per the requirement.
Asia-Pacific is considered to be the fastest growing regional market due to the increasing business deals in the region and investments made by various companies for expansion; these are factors expected to drive the market growth in this region during the forecast period. Furthermore, most of the critical information among organizations are exchanged via emails, which makes email encryption an essential part of enterprises and organizations.
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Intended Audience
BFSI
Application Developers
Investors and consultants
System Integrators
Government Organizations
Research/Consultancy firms
Technology solution providers
IT Solution Providers
Cloud Service Providers
Instant Messaging Vendors
Security Solution Providers
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