Email Encryption Market Forecast (2021-2027)
As the need to protect sensitive data increases, so too does the email encryption market grows. We are looking at the global email encryption market by component, by organization size, by development mode, by end user, by regional outlook, industry analysis report and forecast, 2021-2027 by Research and Markets. Note that this is only an overview and that you can purchase and download the full report in PDF format from this link.
Global Email Encryption Market CAGR 2021-2027
Looking at the forecast period (2021 to 2027), the global encryption market will see a growth of 20.1% CAGR (Compound Annual Growth Rate).
This means that the email encryption market will reach $12.9 billion by 2027. The global email encryption market in 2020 was worth $3.4 billion.
When it comes to Component, the global email encryption market consists of:
The first segment (Solution) is showing promising signs of CAGR during the 2021-2027 forecast period. This is largely the result of the growing awareness by companies to better secure their sensitive data and information from cyber threats.
The key element in this is email encryption which involves scrambling confidential data using encryption keys so that only the intended recipients can read them.
Organization Size Outlook
The global email encryption market is also divided into two categories:
- Small & Medium Enterprises
- Large Enterprises
The Small & Medium Enterprises (SME) market is projected to see a CAGR of 22% during the forecast period, while the Large Enterprises market is expected to have a CAGR of 19.2% during the same forecast period.
Deployment Mode Outlook
Based on Deployment Mode, the email encryption market is segmented into:
Both are expected to see a growth in CAGR for the forecast period, with the On-premise global email encryption market expected to grow at 19.1% CAGR, while the Cloud market will see an even bigger CAGR during 2021-2027 of 21.5%.
End User Outlook
Based on this outlook, the email encryption market is segmented into:
- BFSI (Banking, financial services and insurance)
- Retail & eCommerce
- IT & ITeS (Information Technology & Information Technology Enabled Services)
- Government & Defense
While all of these segments are in need of data security, the BFSI segment can be viewed as the most vulnerable of all as it contains a large amount of sensitive data, which is why the demand for email encryption solutions in this industry segment is particularly at rise.
What is data security?
Data security is the process of protecting data, especially sensitive data from corruption, loss and unauthorized access.
Based on the Regional Outlook, the email encryption market consists of:
- North America
- Asia Pacific
- Latin America
- Middle East
Out of these six segments, the North America (NA) region is anticipated to become the leading region when it comes to revenue in the global email encryption market for the 2021-2027 forecast period.
At the same time, the Asia Pacific (APAC) region is projected to have the highest CAGR market growth during the forecast period as Small & Medium and Large Enterprises in the APAC region see more and more need for email encryption services.
The Need to Protect Confidential Data
As the need to protect sensitive information such as, for instance, personally identifiable information (PII) and bank account numbers from cyber attacks and other unauthorized access increases every year, the competitive landscape in the global email encryption market size sees constant growth, as can be seen in this research report.
Some of the key players and email encryption vendors in this report include companies such as Cisco Systems, Trend Micro, Proofpoint, Entrust, Trustifi, Mimecast, and Micro Focus International.
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