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Increasing need to protect confidential information in organizations and growing scams such as business email compromise and phishing attacks
— Emergen Research
VANCOUVER, B.C, CANADA, June 22, 2023/EINPresswire.com/ — 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. The market for email encryption has grown significantly in recent years as a result of rising worries about data security and privacy. Encoding email communications with a code prevents unauthorised access and guards against the manipulation or interception of sensitive data. It guarantees that only the intended recipient can read the email’s content, establishing a secure channel of communication for both organisations and people.
The rise in data breaches and cyberattacks is one of the main factors boosting the Email Encryption Market. Organisations are becoming more concerned about safeguarding their communication channels as a result of the development in sophisticated hacking tactics and the rising value of data. By encrypting the email’s content and rendering it unreadable to unauthorised users even if the communication is intercepted, email encryption offers a robust solution.
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Additionally, the strict regulatory environment in many different industries is encouraging the usage of email encryption systems. Organisations are required by laws such as the Health Insurance Portability and Accountability Act (HIPAA) in the United States and the General Data Protection Regulation (GDPR) in Europe to encrypt sensitive information, including personally identifiable information (PII). To achieve compliance and avoid severe penalties, this has raised awareness of and investment in email encryption systems.
Some Key Highlights From the Report
Revenue in the on-premises segment is anticipated to increase over the course of the projected year at a very quick CAGR. In order to provide improved data security, on-premises email encryption solutions are projected to be deployed more frequently across a variety of industries, which is anticipated to increase this segment’s revenue growth in the future.
Due to the increasing adoption of email encryption solutions by various businesses to effectively encrypt internal and external email interactions and to secure crucial corporate data, information, and facilities, the solution segment is predicted to dominate in terms of revenue share over the forecast period.
The BFSI sector is anticipated to dominate in terms of revenue contribution to the global email encryption market during the forecast period due to the increasing acceptance of email encryption solutions in the BFSI industry.
Due to strict regulations and the need for compliance in North American nations, factors such as growing adoption of email encryption solutions across a variety of sectors, including healthcare, BFSI, and IT & telecom, are expected to fuel market growth in the region during the forecast period.
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Competitive Terrain:
The Global Email Encryption Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
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.
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)
Cloud
On-premises
Component Outlook (Revenue, USD Billion; 2018–2028)
Services
Solution
End-use Outlook (Revenue, USD Billion; 2018–2028)
Manufacturing
Healthcare
IT & Telecom
Retail
Energy and Utilities
Government
Media & Entertainment
BFSI
Others
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Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.
Detailed Regional Analysis covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Answered in the Report:
What will be the estimated growth rate of the Email Encryption market by 2028?
Who are the prominent distributors, vendors, and manufacturers of the market?
What are the driving and restraining factors of the growth of the Email Encryption market throughout the forecast period?
What are the current and future market trends of the Email Encryption market?
What are the sales and price analysis of the product by types, applications, and regions?
What are the expected opportunities for the companies and new entrants in the coming years?
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Emergen Research
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