Email Encryption Market Overview
The Email Encryption Market is projected to grow from USD 4.93 billion in 2024 to USD 25.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 22.96% during the forecast period (2024 - 2032). Additionally, the market size for Email Encryption was valued at USD 3.9 billion in 2023.
Data security and privacy concerns, regulatory compliance requirements, rising cybersecurity threats, increased cloud adoption, mobile device usage, corporate espionage and intellectual property protection, increasing awareness and adoption, are the key market drivers enhancing the market growth.
Figure 1: Email Encryption Market Size, 2024 - 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Email Encryption Market Trends
Data security and privacy concerns is driving the market growth
Due to the increased awareness of the risks involved with unprotected email communication, data security and privacy concerns are important growth drivers for the email encryption market. Organizations handle a huge quantity of sensitive information in the modern digital environment, including customer data, financial records, proprietary information, and trade secrets. Such information being made available to unauthorized parties can have serious financial and reputational repercussions for firms. In order to safeguard their priceless assets, corporations are now giving data security and privacy a higher priority.
The safety of sensitive information during transmission is one of the main reasons for implementing email encryption. Email communication in the traditional sense is open to eavesdropping and intercept, which leaves it open to unauthorized access. Email encryption plugs this hole by encoding email and attachment content, rendering it unreadable to anybody lacking the decryption key. Organizations can create a secure communication channel and reduce the risks related to unwanted data access by deploying email encryption solutions.
Recent years have seen a rise in the possibility of data breaches, with serious consequences for enterprises. Sensitive information disclosure can result in monetary losses, legal repercussions, and reputational harm for the organization. By preserving the confidentiality and integrity of the information communicated via email, email encryption plays a critical role in preventing data breaches. Even if an attacker is successful in intercepting encrypted emails, the information is still secure because it cannot be read without the decryption key. The need for email encryption systems has also been greatly boosted by regulatory compliance requirements. Numerous sectors of the economy, including the legal, financial, and healthcare sectors, are governed by stringent privacy and data protection laws. For instance, the European Union's General Data Protection Regulation (GDPR) places strict guidelines on how personal data should be handled. As a precaution to ensure secure transmission and protection of sensitive information, compliance with such requirements frequently mandates the use of email encryption. Serious penalties and harm to an organization's reputation can follow from failure to comply with these requirements.
Another reason influencing the greater popularity of email encryption is the increasing sophistication of cyber-attacks. To fool customers into providing critical information or granting them unauthorized access to networks, cybercriminals use a variety of strategies, including phishing, spear phishing, and email spoofing. Organizations can safeguard themselves against these dangers by encrypting emails. Attackers will find it far more difficult to intercept or modify the information shared when emails are encrypted since they cannot decrypt the encrypted content without the encryption key. Thus, driving the Email Encryption Market revenue.
Email Encryption Market Segment Insights
Email Encryption Type Insights
The global Email Encryption Market segmentation, based on type includes End-to-End Encryption, Gateway Email Encryption, Boundary Email Encryption, Hybrid Encryption and Client Plugins. The end-to-end encryption category dominated the market in 2022. End-to-end encryption is a strong security technique that makes sure the message content is encrypted from the sender to the recipient during the whole transmission process. Because only the intended receiver has the decryption key needed to open and read the message, this sort of encryption is regarded as being extremely secure.
Email Encryption Organization Size Insights
The global Email Encryption Market segmentation, based on Organization Size, includes SMEs and Large Enterprises. The large enterprises category generated the most income in 2022. Large businesses frequently have bigger budgets and more resources to devote to putting effective security measures, including email encryption, into place. To manage and maintain these systems, they can spend money on extensive security options and specialized IT personnel.
Figure 2: Global Email Encryption Market, by Organization Size, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Email Encryption Deployment Insights
The global Email Encryption Market segmentation, based on deployment includes cloud and on-premise. The cloud category dominated the market in 2022. Scalability is a feature of cloud-based email encryption solutions, enabling businesses to increase or decrease their encryption requirements in response to demand. It gives you the freedom to scale up or down in response to shifting business needs without making substantial initial commitments.
Email Encryption Vertical Insights
The global Email Encryption Market segmentation, based on vertical includes BFSI, government & defense, IT & telecom, healthcare, manufacturing, retail and others. The BFSI vertical dominated the market in 2022. It handles the substantial amount of private and sensitive financial data.
Email Encryption Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Email Encryption Market dominated this market in 2022 (45.80%). Data privacy and security are highly prioritized in North America, which is a developed and technologically sophisticated region. Organizations from a variety of industries in the region have adopted email encryption solutions in substantial amounts to safeguard sensitive data and guarantee secure communication. Further, the U.S. Email Encryption Market held the largest market share, and the Canada Armor Materials market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: GLOBAL EMAIL ENCRYPTION MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Email Encryption Market accounts for the second-largest market share. The adoption of email encryption technologies in Europe has been significantly influenced by the continent's strong emphasis on data protection and privacy laws. Further, the German Email Encryption Market held the largest market share, and the UK Email Encryption Market was the fastest growing market in the European region
The Asia-Pacific Email Encryption Market is expected to grow at the fastest CAGR from 2023 to 2032. The popularity of email encryption systems is significantly increasing in the Asia-Pacific area. Increasing cybersecurity concerns are one of the factors driving the Asia-Pacific email encryption market's expansion. Moreover, China’s Email Encryption Market held the largest market share, and the Indian Email Encryption Market was the fastest growing market in the Asia-Pacific region.
Email Encryption Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Email Encryption Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Email Encryption industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Email Encryption industry to benefit clients and increase the market sector. In recent years, the Email Encryption industry has offered some of the most significant advantages to medicine. Major players in the Email Encryption Market, including 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), are attempting to increase market demand by investing in research and development operations.
Technology firm Micro Focus International Plc (Micro Focus) provides services, software, and solutions. Enterprise software solutions are provided and supported by the business. Its offerings include COBOL program development tools, application portfolio management and analysis, and IBM mainframe application modernization. In addition, Micro Focus offers source code and configuration management, middleware and application servers, user interface modernization, and terminal emulation. Application modernization and connectivity, application delivery management, IT operations management, CyberRes, and information management and governance are all included in its solution range. The corporation conducts business in South Africa, the Americas, Europe, and Asia. The UK's Micro Focus has its headquarters in Newbury, Berkshire.
A provider of cybersecurity services, Trend Micro Inc. The business creates and sells solutions for threat management and internet and computer content security. Security software, network and web security, mobile device security, and anti-spam products are all part of its product line. Along with providing solutions for ransomware, GDPR, compliance, cloud, healthcare, government, and end-of-support systems, it also offers solutions for protecting data and intellectual property. AWS, Google, Capgemini, Microsoft, IBM, AD link, Advantech, Blackberry, Citrix, F5 Network, and VMware are just a few of the company's top partners. Its solutions can be used in workplaces, residences, small, medium, and large organizations. Healthcare, manufacturing, 5G networks, oil and gas, electric utilities, federal, and the auto industry are just a few of the sectors it services. The corporation conducts business in Africa, the Middle East, Europe, Asia-Pacific, and the Americas. The headquarters of Trend Micro are in Shibuya-ku, Tokyo, Japan.
Key Companies in the Email Encryption Market include
Email Encryption Industry Developments
Broadcom Google Cloud partnership announced in April 2021 will allow the company to launch its suite of security and enterprise operations software on Google Cloud, thereby making it possible for organizations to operationalize Broadcom solutions in security, DevOps, and other areas that are built on Google cloud’s global infrastructure. Market players’ adoption of such strategies globally and at the regional level is also expected to contribute significantly to the growth of the market during the forecast period.
In Spain, Telefonica Tech (Spain) has announced a partnership with Proofpoint to launch “Clean Email Business,” an email security enhancement tool targeting small- and medium-sized enterprises. This includes spam filters, malicious attachment/URL analysis, and BEC attack prevention, among others. Security remains a top priority for this solution, as well as maintaining regulatory compliance and business continuity.
In April 2023, Barracuda Networks, Inc. disclosed that it had entered into a strategic distribution agreement with Ingram Micro aimed at bolstering its presence within the Gulf region. They will distribute Barracuda’s full range of cybersecurity offerings, including email protection applications, network defense apps, cloud data protection, etc., within this region. To bring advanced cyber safety systems closer to their customers in UAE, Kuwait, Qatar, Oman, Bahrain, Yemen, and Pakistan, they have partnered with numerous resellers.
Protean Technologies has established zero-trust supply chains for defense and critical infrastructure applications via collaboration with BAE Systems, announced in March 2023 (Israel). BAE Systems intends to leverage proteanTecs’ deep data analytics technology to enhance product authentication along with improved supply chain integrity. Enhancing email encryption could involve verifying whether hardware components are legitimate or not.
Zoho Corporation’s Bigin CRM introduced the “Email-In” topping feature, which automates routing emails sent from multiple aliases @ different departments in an organization towards corresponding customer records. It provides ease of organizing emails while enhancing security thereon. Such developments indicate increased interest in email encryption by organizations such as Fintechs, Beyond Encryption, and Origo, who, in March 2020, offered a full version of their Unipass Mailock encrypted email service to all users of Origo Unipass for two months at no cost to help safeguard business and client communications and data security.
Fintechs, together with Beyond Encryption and Origo, have made the full version of their Unipass Mailock encrypted email service available for free to all users of Origo Unipass for two months in order to protect business communications and data security.
Email Encryption Market Segmentation
Email Encryption Type Outlook
Email Encryption Organization Size Outlook
Email Encryption Deployment Outlook
Email Encryption Vertical Outlook
-
BFSI
-
Government & Defense
-
IT & Telecom
-
Healthcare
-
Manufacturing
-
Retail
-
others
Email Encryption Regional Outlook
-
North America
-
Europe
-
Germany
-
France
-
UK
-
Italy
-
Spain
-
Rest of Europe
-
Asia-Pacific
-
China
-
Japan
-
India
-
Australia
-
South Korea
-
Australia
-
Rest of Asia-Pacific
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
| Report Attribute/Metric |
Details |
| Market Size 2023 |
USD 3.9 Billion |
| Market Size 2024 |
USD 4.93 Billion |
| Market Size 2032 |
USD 25.8 Billion |
| Compound Annual Growth Rate (CAGR) |
22.96% (2023-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Type, Organization Size, Deployment, Vertical, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
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) |
| Key Market Opportunities |
Email encryption is now more commonplace across various commercial organizations due to the rising loss of data, assets, and information as a result of cyber-attacks and threats like viruses, malware, and spam. |
| Key Market Dynamics |
Increase in spear-phishing and BEC scams |
Frequently Asked Questions (FAQ) :
The global Email Encryption Market size was valued at USD 3.9 Billion in 2023.
The global market is projected to grow at a CAGR of 22.96% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are 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).
The End-to-End Encryption type dominated the market in 2022.
The BFSI had the largest share in the global market.
