Email Encryption Market Analysis And Trends By Segmentations, Top Key Players, Geographical Expansion, Future Development & Forecast 2026
The global email encryption market size is projected to grow from USD 3,406 million in 2020 to USD 11,880 million by 2026, at a Compound Annual Growth Rate (CAGR) of 23.1% during the forecast period. Major driving factors for the market include rise in BEC scams and spear phishing, growing number of email users globally, high demand for cloud-based email encryption services, and mandate to comply with data protection directives.
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By component, the services segment to register the highest growth rate during the forecast period
The services segment includes various services that are required to deploy, execute, and maintain the email encryption platform in an organization. As the adoption of the email encryption platform increases, the demand for these services is also expected to increase. Email encryption can be provided through Managed Security Services (MSS) analysts who provide remote assistance and incident response to clients in case of suspicious activities. These services include training and education, and support and maintenance. As the adoption of the email encryption platform increases, the demand for these services is also expected to soar. Email encryption services ensure 24/7 protection against increasing sophisticated architectures, SOCs manned by security experts, and quick incident response services. Email encryption vendors offer customized subscriptions and professional services for threat intelligence, threat prevention, detection, and response to assist end users in easy planning and deployment of email encryption platform.
Based on vertical, the healthcare segment to grow at the highest CAGR during the forecast period
The healthcare industry comprises a global infrastructure that deals with continuous health-related data exchange. There has been an increase in the number of cyberattacks, such as ransomware and misinformation campaigns on healthcare organizations with electronic protected health information (ePHI), personally identifiable information (PII), and electronic health records (EHR) with the COVID-19 outbreak. Email phishing attacks have spiked due to COVID-19, more so, across the healthcare sector. The American Marketing Association (AMA) and the American Health Association (AHA) have partnered on COVID-19 cyber threats guidance for hospitals and physicians, including recommendations regarding VPNs and cloud-based services, COVID-19-themed phishing emails, telehealth deployments, and medical-device security. The healthcare industry remains one of the most highly targeted for cyberattacks. With the adoption of technologies such as BYOD and centralized patient information, the vertical has become highly susceptible to cyber-attacks. The email encryption technology has emerged as a valid solution to address issues, such as data security, patient safety, and enhanced productivity, to accelerate the overall process.
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Unique Features in Email Encryption Market:
There are a number of standout characteristics in the Email Encryption industry that improve data security. A standout is end-to-end encryption, which makes sure that only intended receivers may access email messages. Communication over encrypted email is made easier by user-friendly interfaces and interoperability with email programmes.
The generation and exchange of encryption keys are simplified by automated key management. Receivers can receive encrypted content through secured portals or links thanks to secure delivery techniques. With compliance features like audit trails and safe archiving, many solutions are compliant with industry laws.
Unauthorised transmission of sensitive content is prevented by integration with Data Loss Prevention (DLP) solutions. Secure email communication is expanded to mobile devices thanks to mobile compatibility. Encryption is combined with digital signatures, two-factor authentication, and threat detection in multi-layered security.
Additional data access control is provided by features like message expiry and email revocation. Overall, these distinctive characteristics characterise the developing Email Encryption market landscape, offering increased privacy and protection for delicate communications.
Major Highlights of the Email Encryption Market:
Significant highlights in the email encryption market indicate how crucial it is for securing safe interactions. End-to-end security takes the stage, protecting confidential information by limiting who can decrypt emails. Encrypted communication is made available to a large user base by user-friendly interfaces and seamless email platform integration.
The encryption process is made easier while yet maintaining a high level of security with automated key management. Particularly in industries like healthcare and finance, regulatory compliance elements are in line with industry norms. Encrypted email protection is provided even during transit thanks to secure delivery systems.
Data loss prevention (DLP) solutions, in particular, are integrated with security technologies to improve overall data protection tactics. The needs of the mobile workforce are met by mobile compatibility, which makes it possible to communicate securely while on the go. To combat changing cyber threats, multi-layered security solutions combine encryption with extra levels like digital signatures and two-factor authentication.
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Top Key Companies in Email Encryption Market
Key and innovative vendors in the email encryption market include Micro Focus (UK), Broadcom (US), Cisco (US), Trend Micro (Japan), Sophos (UK), Proofpoint (US), BAE Systems (UK), Zix (US), Entrust Datacard (US), Mimecast (UK), Egress Software (UK), ProtonMail (Switzerland), Trustifi (US), Barracuda Networks (US), Intemedia (US), Clearswift (UK), Virtru (US), Echoworx (Canada), NeoCertified (US), Deltagon (Finland), DeliverySlip (US), Hornetsecurity (Germany), Datamotion (US), Virtru (US), Smarsh (US), Retarus (Germany), Lux Sci (US), Cryptzone (US), SecureAge Technology (Singapore), Paubox (US), Sendinc (US), and Frama (Denmark).
These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their presence in the email encryption market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2017 to 2021 to innovate their offerings and broaden their customer base.
Micro Focus has become the largest pure-play software player, post its merger with HPE’s software division and NetIQ. The company’s innovative offerings make it one of the most trusted and deployed solution providers in the email encryption market. It makes investments in organic and inorganic growth strategies, depending on the evaluation of its security portfolio. It has been consistently focusing on strengthening its portfolio with the help of new product launches and product enhancements. For instance, in January 2020, Micro Focus introduced Voltage SmartCipher. This offering ensures secure file encryption across collaboration platforms such as email/ cloud hosted environments. The solution provides improved privacy compliance with a persistent unstructured file encryption. Furthermore, the company plans to expand its presence and strengthen its market position by adopting effective partnership strategies. It also has a specific partner program, partner portal, and partner community. This illustrates its focus on achieving growth and increasing its presence by following the strategy of managing its partners, which include business partners, solution partners, consulting and System Integrator (SI) partners, authorized distributors, training partners (commercial and academic), and authorized instructors.
Cisco has been providing distinct products in the email encryption market. The company offers its product portfolio to various industry verticals with the help of technology integrators, resellers, and individual software vendors. Its products and services aim at providing security solutions for not only protecting and safeguarding the digital economy, business interests, and customer experiences, but also creating a competitive advantage. The company’s Research & Development (R&D) center designs and develops new technologies and solutions to meet the changing technology needs of customers. Cisco’s security solutions portfolio includes the SecureX platform, Secure Firewall, Secure Endpoint, Secure Email, Secure Workload, Anyconnect (VPN), Identity Services Engine (ISE), and Services for Security. Cisco offers email encryption capabilities with the help of its solutions Cisco Secure Email Encyrption Service, Cisco Secure Email, Cisco Advanced Phishing Protection, Cisco Cloud Mailbox Defense, and Cisco IronPort Email Encryption. The company has adopted new product launches, and partnerships and acquisitions strategies to develop advanced email security solutions.
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