According to a new market report published by Credence Research Inc., “Email Encryption Market (By End-use (Information Technology and Telecom, Government, Banking, Financial Services and Insurance, Defense and Intelligence, Retail, Healthcare, and Others (Aerospace, Manufacturing, etc), By Deployment (On-demand and On-premise)) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023”, the email encryption market is expected to expand at a CAGR of 22.7% between the forecast period 2016 – 2023.
E-mails represent one of the most popular and convenient medium of communication for businesses to interact with their clients and employees. However, e-mails are highly vulnerable to malware attacks and fraudulent activities. Thus, business enterprises across verticals and globe are investing large amounts in web security and email encryption solutions. E-mail encryption safeguards the content of an e-mail from external interception. Thus, only the intended recipient is able to read e-mail. The growing trend towards use of personal devices for office related work has bolstered the use of wireless technologies, thereby augmenting possibilities of malware attacks. This has led enterprises to adopt BYOD policies, which, in turn has been instrumental in driving adoption of email encryption solutions.
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The global email encryption market is highly competitive and technology driven. The top four players in the global email encryption market account for less than 45% of the market revenue. Some of the leading players identified in the email encryption market include McAfee, Inc. (the U.S.), Cisco Systems, Inc (the U.S.), Symantec Corporation (the U.S.), Proofpoint (the U.S.), and Zix Corporation (the U.S.). Other promising and emerging players identified and profiled in the report include Trend Micro, Inc., Hewlett Packard, Sophos Ltd., Entrust, Inc., Microsoft Corporation, Egress Software Technologies, and WatchGuard Technologies among others. The market being technology driven, intensity of competition is high and is expected to remain same throughout the forecast period. The established players are required to come-up with innovative solutions in order to stay ahead of the competition. In addition, inorganic expansion through strategic acquisitions and partnerships is expected to help leading players to sustain their market dominance in the coming years.
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Increased Email Threats
Growing trend towards multi-factor authentication for email encryption
Increasing use of Bio-metrics technology for email encryption
Demand for integrated security solutions
Growing adoption among small- and mid-sized business enterprises