Email Encryption Market Size to Reach USD 19.06 Billion in 2028 | Rising Demand for Cost-Effective Encryption Solutions and Increasing Need to Meet Hipaa Compliance Standards Are will Drive Industry Growth, says Emergen Research
Vancouver, British Columbia, March 23, 2021 (GLOBE NEWSWIRE) — The global email encryption market size reached USD 3.36 Billion in 2020 and is expected to register a CAGR of 24.3% during the forecast period, according to latest analysis by Emergen Research. Global email encryption market revenue is expected to increase significantly during the forecast period due to rising demand for more cost-effective encryption solutions. In addition, increasing need to meet Health Insurance Portability and Accountability (HIPAA) compliance is expected to boost global email encryption market growth over the forecast period. Furthermore, rising adoption of Bring Your Own Device (BYOD) trend across various sectors is expected to augment global email encryption market growth over the forecast period.
However, requirement of key management and validation solutions for encrypting keys is expected to hamper global email encryption market growth to some extent during the forecast period.
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Some Key Highlights in the Report
- Rising adoption of cloud-based email encryption solutions by end-users to reduce operating expenses is driving revenue growth of the cloud segment, which is expected to register a significantly rapid CAGR over the forecast period.
- In terms of revenue, the service segment is expected to register significant growth over the forecast period due to increasing demand for services with rising adoption of email encryption solutions.
- The IT & telecom segment is expected to register significant revenue growth during the forecast period due to rising implementation of email encryption solutions across the IT & telecom industry to enable data protection and prevent cyber-attacks.
- Asia Pacific is expected to register fastest revenue growth rate during the forecast period due to rising implementation of email encryption solutions across various sectors to protect confidential data from cyber-attacks in countries in the region.
- Key players in the market include Cisco Systems, Inc., Micro Focus International plc, Trend Micro Inc., Sophos Group plc, Norton LifeLock Inc., BAE Systems plc, Zix Corporation, Proofpoint, Inc., and Mimecast Limited, Echoworx.
- In July 2020, Etorch Inc. was acquired by Mimecast Limited. Mimecast’s Email Security 3.0 strategy, which is focused on improving cybersecurity at email perimeter within a company and outside the perimeter.
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Emergen Research has segmented the global email encryption market on the basis of deployment, component, end-use, and region:
- Deployment Outlook (Revenue, USD Billion; 2018–2028)
- Component Outlook (Revenue, USD Billion; 2018–2028)
- End-use Outlook (Revenue, USD Billion; 2018–2028)
- IT & Telecom
- Energy and Utilities
- Media & Entertainment
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- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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