Opportunity, Driver and Challenge in Email Encryption Market - 2025 | MarketsandMarkets

According to a new research report "Email Encryption Market size in the post-COVID-19 scenario is projected to grow from USD 3.4 billion in 2020 to USD 9.9 billion by 2025, at a CAGR of 23.8% during the forecast period. The increasing adoption of Bring Your Own Device (BYOD) trend among organizations, stringent regulations and need for compliance, and the introduction of cloud-based encryption solution will drive the growth of the market.

Browse 320 market data Tables and 45 Figures spread through 267 Pages and in-depth TOC on "Email Encryption Market - Global Forecast to 2025"

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Driver: Rise in business email compromise scams and spear phishing

Over the years, organizations have been massively getting hit by these sophisticated cyber-attacks, such as email-based phishing and BEC scams, leading to huge financial losses. In BEC, adversaries target corporate email accounts, spoofing customers and employees or partners for financial gains such as approving payment transfers to cybercriminals’ account. Fraudulent practices such as spear phishing to steal data for malicious purposes are on the rise. The use of email encryption solution and services are an effective measure to protect email data.

Opportunity: Increase in adoption of multi-cloud services

With the growing need to achieve business efficiency, speed, scalability, and reduced cost, organizations are constantly adopting new technologies to cater to evolving business needs. The rapid growth in use of cloud services has given rise to new and sophisticated threats, such as spear phishing, trojans, ransomware, BEC scams, social engineering, and malware and spams, which have put organizations’ critical data at risk.

Challenge: Requirement of key management and verification solutions for encrypting keys

Requirement of key management and verification solutions for encrypting key management and verification is one of the major challenges in the email encryption market. Encryption solutions are used for securing confidential data, files, folders, and emails. A large number of data in cloud has increased the use of passwords or encryption keys for encrypting data. However, key management is a complex, and a time consuming process, making it difficult to adopt email encryption solutions.

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Market Players

The report encompasses the different strategies such as partnerships and collaborations, mergers and acquisitions, and product developments adopted by the major players to increase their market share. Some of the major technology vendors in the Email Encryption Market are Micro Focus (UK), Symantech (US), Cisco (US), Trend Micro (Japan), Sophos (UK), Proofpoint (US), BAE Systems (UK), Zix (US), Entrust Datacard (US), Mimecast (UK), Egress Software (UK), Intemedia (US), Virtru (US), Echoworx (Canada), Lux Sci (US), Cryptzone (US).