New York, April 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Email Encryption Global Market Report 2023" - https://www.reportlinker.com/p06443952/?utm_source=GNW
, NeoCertified, Proofpoint Inc., Virtru Corporation, CipherMail B.V., Proton AG, and Intermedia.Net Inc.,
The global email encryption market grew from $5.17 billion in 2022 to $6.4 billion in 2023 at a compound annual growth rate (CAGR) of 23.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The email encryption market is expected to grow to $14.85 billion in 2027 at a CAGR of 23.4%.
The email encryption market includes revenues earned by entities by providing boundary email encryption, gateway-to-gateway email encryption, end to end email encryption, and hybrid email encryption.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Email encryption is a method of authentication that stops messages from being read by an unauthorized or unintended person.The original message is sent in a scrambled form that is either impossible to read or impossible to decipher.
Sharing sensitive information via email requires email encryption.
North America was the largest region in the email encryption market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the email encryption market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of components in email encryption are solutions and services.The solutions are used to enable efficient management and customization of the workflow by assisting in terms of optimal performance, flexible deployment, and key component management.
Solutions offers a platform for transformational change to address specific present and upcoming business issues.The different sizes of organizations involved are large enterprises, and small and medium enterprises (SMEs) that involve various deployment modes such as on premise and cloud.
The various verticals involved are BFSI, government and defense, IT and ITEs, telecommunication, energy and utilities, manufacturing, retail and eCommerce, healthcare, and others.
Rising instances of enterprise email threats are expected to propel the growth of the email encryption market going forward.Email threats are a type of email fraud in which cybercriminals pretend to be reputable organizations in order to access private data.
Email encryption encrypts emails with the help of advanced technologies, which offer end-to-end email encryption to businesses and protect the email threats attached along with the email.For instance, in April 2020, according to an article published by Google LLC, a US-based technology company, over 100 million phishing emails are blocked daily by Gmail.
Also, the company observed 18 million malware and phishing emails per day related to COVID-19 in 2020.In addition, there are daily spam messages about COVID that total more than 240 million.
Therefore, rising instances of enterprise email threats are driving the growth of the email encryption market.
The shift from traditional email encryption tools to advanced email encryption solutions is the key trend gaining popularity in the email encryption market.Advanced Email Security secures data by encoding email content while it is in transit.
Major companies are implementing advanced technologies such as artificial intelligence and machine learning to improve the security of organizations’ emails.For instance, in February 2020, Trustifi, LLC, a US-based software-as-a-service (SaaS) email security company, recently added a new AI-enabled function to its leading email encryption and DLP (data loss prevention) solution, which also utilizes optical character recognition technology (OCR).
The latest upgrade from Trustifi includes an optical character recognition scan with machine learning that improves email security by automatically encrypting sensitive attachments.This state-of-the-art OCR tool for email attachments scans PDF and image files.
The tool classifies certain attachments as sensitive when it detects elements like a credit card scan or a screenshot of a financial statement. The attachment is then automatically encrypted, minimizing the chance that users will unintentionally send sensitive information without protection.
In January 2022, Kiteworks, a US-based technology company that secures sensitive content communications acquired Totemo for an undisclosed amount.The Totemo acquisition by Kiteworks would expand the reach of the Kitework platform’s email functionality beyond user or plug-in activation within the platform and into the mail client’s native interface.
Totemo is a Switzerland-based email encryption gateway provider.
The countries covered in the email encryption market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The email encryption market research report is one of a series of new reports that provides Email encryption market statistics, including email encryption industry global market size, regional shares, competitors with email encryption market share, detailed Email encryption market segments, market trends, and opportunities, and any further data you may need to thrive in the email encryption industry. This email encryption market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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