The e-mail encryption market is expected to grow by USD 2.19 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has published a latest market research report titled Global E-Mail Encryption Market 2020-2024 (Graphic: Business Wire)
Banks, healthcare, and other organizations are increasingly storing their confidential data on the cloud. This has given rise to the need for protecting confidential data against unauthorized access. The adoption of cloud-based services is increasing more rapidly in SMBs compared with large enterprises as cloud-based services work on a pay-per-use model. In addition, cloud-based security services offer flexibility and scalability to accommodate the varying needs of enterprises. These services offer several advantages such as less dependency on internal IT personnel, no licensing costs, low maintenance costs, very limited hardware infrastructure, and easier and faster implementation of IT solutions. All these factors have contributed to the increasing adoption of cloud services by SMBs. Also many enterprises are outsourcing e-mail storage to cloud providers because of the rising e-mail volumes. This has mandated the need for e-mail encryption solutions, thus leading to further growth of the market over the forecast period.
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As per Technavio, the emergence of integrated security solutions will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
E-Mail Encryption Market: Emergence of Integrated Security Solutions
End-users prefer e-mail encryption solutions integrated and converged with security solutions that provide overall security to devices and networks. This is because different standalone security solutions may lead to integration issues. Integrated security solutions offered by the vendors provide better support and functionality to customers. With the increasing complexity of network infrastructure, integration of different security solutions, including e-mail encryption solutions is an important criterion that will affect market revenue. E-mail encryption solutions integrated with other security solutions such as data loss prevention (DLP) also reduce the overall cost of e-mail encryption solutions for customers, thus increasing their adoption. Vendors such as McAfee for instance, provide e-mail encryption solutions integrated with network security solutions as a package, which has increased their adoption among end-users.
“Factors such as the growing use of biometrics for e-mail encryption and shift toward multifactor authentication will have a positive impact on the growth of the e-mail encryption market during the forecast period,” says a senior analyst at Technavio.
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E-Mail Encryption Market: Segmentation Analysis
This market research report segments the e-mail encryption market by end-users (BFSI, healthcare, government and others), solution (secure e-mail gateways and software), and geography (APAC, Europe, MEA, North America and South America).
The North American region led the e-mail encryption market in 2019, followed by Europe, APAC, South America and MEA. During the forecast period, the North American region is expected to register the highest incremental growth due to increasing instances of insider fraud in organizations in the region.
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Some of the key topics covered in the report include:
- Secure e-mail gateways
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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