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Email Encryption Market by Component (Solution and Service (Training and Education, and Support and Maintenance)), Deployment Mode (On-premises and Cloud), Organization Size, Industry Vertical, and Region - Global Forecast to 2023

  • ID: 4760610
  • Report
  • Region: Global
  • 145 Pages
  • Markets and Markets
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The Global Email Encryption Market Size is Expected to Grow from USD 2.3 Billion in 2018 to USD 5.8 Billion By 2023, at a CAG) of 20.0%

FEATURED COMPANIES

  • Bae Systems
  • Echoworx
  • Frama
  • Micro Focus
  • Proofpoint
  • Symantec
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Mandate to comply with data protection directives and rise in spear phishing attacks targeting email information to drive the overall email encryption market

The global email encryption market size is expected to grow from USD 2.3 billion in 2018 to USD 5.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 20.0% during the forecast period. Various factors, such as need to protect the confidential email information from spear phising attacks and mandate to comply with data protection directives are expected to drive the market. However, high cost of email encryption solution may restrain the email encryption market growth.

The SMEs segment to grow at a higher CAGR during the forecast period

Based on organization size, the email encryption market has been segmented into SMEs and large enterprises. The SMEs segment is expected to grow at the highest CAGR in the email encryption market during the forecast period. The growing use of mobile devices in Small and Medium Enterprises (SMEs) for sending mails has influenced data transfer, over business networks, to personal devices, such as mobile phones and laptops. This huge volume of data transfer has increased fraudulent data, cyber-attacks, data losses, and the threat of personal data thefts. These rising security issues have compelled the SMEs to focus on their email encryption solution. In the coming years, email encryption solution would witness high adoption among SMEs across the globe.

The BFSI industry vertical to hold a larger market size during the forecast period

The BFSI industry vertical is expected to hold a larger market size in the email encryption market during the forecast period, due to the increasing instances of email taping, phishing, spear phishing, spams, and insider data thefts in this industry vertical. BFSI is the most targeted industry vertical as it deals with large volumes of sensitive and private data. The enterprises in this industry vertical are demanding for the email encryption solution to ensure irreversible encryption. This industry vertical is the most regulated, as it has to comply with many security requirements. The email encryption solutions in the BFSI industry vertical are witnessing rapid adoption due to the confidential nature of the financial data that needs to be secured all the time.

North America to account for the highest market share, whereas Asia Pacific (APAC) to grow at the highest CAGR

North America is projected to hold the highest share of the email encryption market from 2018 to 2023, owing to the early adoption of the email encryption solution in the region across various industry verticals, specifically in the BFSI and healthcare industry verticals. The concentrated presence of large number of email encryption solution and services providers in the US from the North American region is also expected to drive revenue growth for the region.

The Asia Pacific (APAC) market is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness a notable adoption of the technology as enterprises and SMEs across various industry verticals are now adopting email encryption solutions in order to secure  business-critical email information from misuse by computer hackers for monetary gains and sophisticated cyber-attacks. The developed APAC countries such as China, ANZ, and India have implemented email encryption solutions to fulfill compliance requirements and data security needs of businesses.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the email encryption marketplace.

  • By Company: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
  • By Designation: C-level – 35%, Director level – 25%, and Others – 40%
  • By Region: North America – 45%, APAC – 30%, Europe – 20%, RoW – 5%

Major vendors in the global email encryption market include 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), and Cryptzone (US).

Research Coverage

The market study covers the email encryption market across segments. It aims at estimating the market size and the growth potential of the market across segments, namely, component (solution and service), deployment mode, organization size, industry vertical, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report

The report will help the market leaders/new entrants in the email encryption market with information on the closest approximations of the revenue numbers for the overall email encryption market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Bae Systems
  • Echoworx
  • Frama
  • Micro Focus
  • Proofpoint
  • Symantec
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Segmentation
1.4 Regions Covered
1.5 Years Considered for the Study
1.6 Currency Considered
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Forecast
2.4 Research Assumptions
2.5 Limitations of the Study

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Email Encryption Market
4.2 Email Encryption Market, Market Share of Top 3 Industry Verticals and Regions, 2018
4.3 Email Encryption Market, By Component, 2018 Vs 2023
4.4 Email Encryption Market, By Service, 2018 Vs 2023
4.5 Email Encryption Market, By Deployment Mode, 2018
4.6 Email Encryption Market, By Organization Size, 2018
4.7 Email Encryption Market, By Industry Vertical, 2018 Vs 2023
4.8 Market Investment Scenario

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Regulatory Implications
5.2.1 Advanced Encryption Standards
5.2.2 Federal Information Processing Standards
5.2.3 Payment Card Industry Data Security Standard
5.2.4 Health Insurance Portability and Accountability Act
5.2.5 General Data Protection Regulation
5.2.6 Gramm-Leach-Bliley Act
5.3 Encryption Algorithms
5.3.1 Data Encryption Standard and Triple Data Encryption Standard
5.3.2 Advanced Encryption Standard
5.3.3 Aes-256 Bit Encryption
5.3.4 Aes-128 Bit Encryption
5.3.5 Xxtea-128 Bit Encryption
5.3.6 RSA
5.3.7 Blowfish
5.3.8 Twofish
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Rise in Business Email Compromise Scams and Spear Phishing
5.4.1.2 Mandate to Comply With Data Protection Directives
5.4.2 Restraints
5.4.2.1 High Cost of Email Encryption Solutions
5.4.3 Opportunities
5.4.3.1 Need to Shift From Traditional Encryption Tools for Advanced Data Security
5.4.3.2 Increase in Adoption of Multi-Cloud Services
5.4.4 Challenges
5.4.4.1 Requirement of Key Management and Verification Solutions for Encrypting Keys
5.5 Use Cases
5.5.1 Adoption of Email Encryption Solution Among Leading Financial Service Providers
5.5.2 Adoption of Email Encryption Solution Among Retail Companies
5.5.3 Dependence of Government Agency on Email Encryption Solution and Services
5.6 Best Practices in Email Encryption Market
5.7 Innovation Spotlight
5.7.1 Paubox
5.7.2 Sendinc
5.7.3 Frama

6 Email Encryption Market, By Type
6.1 End-To-End Email Encryption
6.2 Gateway Email Encryption
6.3 Boundary Email Encryption
6.4 Hybrid Email Encryption
6.5 Client Plugins

7 Email Encryption Market, By Component
7.1 Introduction
7.2 Solution
7.2.1 Asia Pacific to Record Highest Growth Rate in Solution Segment
7.3 Services
7.3.1 Training and Education
7.3.1.1 Growing Need Among Enterprises for Eliminating Knowledge Gaps to Boost Growth of Training and Education Services
7.3.2 Support and Maintenance
7.3.2.1 Support and Maintenance Services to Continue to Gain Popularity During the Forecast Period

8 Email Encryption Market, By Deployment Mode
8.1 Introduction
8.2 0N-Premises
8.2.1 On-Premises Deployment Model to Enable Organizations to Manage System Updates and Data on Their Own
8.3 Cloud
8.3.1 Cost-Effectiveness of Cloud-Based Offerings to Drive Adoption of Email Encryptiopn Solution

9 Email Encryption Market, By Organization Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.2.1 Rising Adoption of Email Encryption Solution Among Small and Medium-Sized Enterprises to Cost-Effectively Streamline Business Operations
9.3 Large Enterprises
9.3.1 Availability of Huge Infrastructures to Drive Large Enterprises to Adopt Email Encryption Solution

10 Email Encryption Market, By Industry Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.2.1 Increasing Instances and Sophistication of Spear Phishing Attacks in Financial Transactions to Fuel Growth of Email Encryption Market
10.3 Government and Defense
10.3.1 Growing Need to Protect Sensitive Credentials of Citizens and Employees to Boost Market Growth in Government and Defense Industry Vertical
10.4 IT and Telecom
10.4.1 IT and Telecom Companies Deploy Email Encryption Solution to Address Challenges Related to Security and Privacy of Digital Identities
10.5 Healthcare
10.5.1 Rising Security Breaches to Drive Need for Email Encryption Solution in Healthcare Industry Vertical
10.6 Manufacturing
10.6.1 Manufacturing Industry Vertical to Deploy Email Encryption Solution for Addressing Challenges Related to Security and Privacy of Email Data
10.7 Energy and Utilities
10.7.1 Email Encryption Solution to Enhance Operational Efficiency and Mitigate Potential Spear Phishing Attacks in Energy and Utilities Industry Vertical
10.8 Retail
10.8.1 Retail Industry Vertical to Adopt Email Encryption Solution for Protecting Confidential and Private Information of Customers
10.9 Others

11 Email Encryption Market, By Region
11.1 Introduction
11.2 North America
11.2.1 United States
11.2.1.1 the United States to Contribute the Highest Market Share to Email Encryption Market in North America
11.2.2 Canada
11.2.2.1 Adoption of Email Encryption Solution Across Industry Verticals to Drive Market Growth in Canada
11.3 Europe
11.3.1 United Kingdom
11.3.1.1 Focus on Securing Users’ Data and Addressing General Data Protection Regulation Requirements to Drive Market in the United Kingdom
11.3.2 Germany
11.3.2.1 Increasing Instances of Spear Phishing Attacks and Internet Thefts to Increase Demand for Email Encryption Solution in Germany
11.3.3 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.1.1 Increasing Investments in Email Encryption Solution to Spur Demand for Email Encryption Solution in China
11.4.2 India
11.4.2.1 Need for Securing Confidential Information to Drive Growth of Email Encryption Market in India
11.4.3 Australia and New Zealand
11.4.3.1 Rising Data Leakage Instances Across Australia and New Zealand to Boost Growth of Email Encryption Market in Australia and New Zealand
11.4.4 Rest of Asia Pacific
11.5 Middle East and Africa
11.5.1 Middle East
11.5.1.1 Growing Awareness of Compliance Management to Boost Growth of Email Encryption Market in Middle East
11.5.2 Africa
11.5.2.1 Increase in Number of Tech Ventures to Lead to Growth of Email Encryption Market in Africa
11.6 Latin America
11.6.1 Mexico
11.6.1.1 Rise in the Adoption of Cloud-Based Solution and Services to Fuel Growth of Email Encryption Solution in Mexico
11.6.2 Brazil
11.6.2.1 Rapid Surge in Usage of Emails for Sharing Confidential Messages Among Customers to Increase Demand for Email Encryption Solution in Brazil
11.6.3 Rest of Latin America

12 Competitive Landscape
12.1 Competitive Leadership Mapping
12.1.1 Visionary Leaders
12.1.2 Innovators
12.1.3 Dynamic Differentiators
12.1.4 Emerging Players
12.2 Key Developments in Email Encryption Market
12.3 Competitive Scenario
12.3.1 Partnerships, Agreements, and Collaborations
12.3.2 New Product Launches/Product Enhancements
12.3.3 Mergers and Acquisitions
12.3.4 Business Expansions

13 Company Profiles
13.1 Introduction
(Business Overview, Solutions & Services, Key Insights, Recent Developments, Swot Analysis, Mnm View)*
13.2 Micro Focus
13.3 Symantec
13.4 Cisco
13.5 Trend Micro
13.6 Sophos
13.7 Proofpoint
13.8 Bae Systems
13.9 Zix
13.10 Entrust Datacard
13.11 Mimecast
13.12 Egress Software
13.13 Intermedia
13.14 Virtru
13.15 Lux Scientiae (Lux Sci)
13.16 Cryptzone
13.17 Echoworx
*Details on Business Overview, Solutions & Services, Key Insights, Recent Developments, Swot Analysis, Mnm View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix
14.1 Discussion Guide
14.2 Knowledge Store: Subscription Portal
14.3 Available Customizations
14.4 Related Reports
14.5 Author Details

List of Tables
Table 1 United States Dollar Exchange Rate, 2015–2017
Table 2 Factor Analysis
Table 3 Email Encryption Market Size and Growth, 2016–2023 (USD Million, Y-O-Y %)
Table 4 Email Encryption: Best Practices
Table 5 Email Encryption Market Size, By Component, 2016–2023 (USD Million)
Table 6 Solution: Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 7 Services: Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 8 Email Encryption Market Size, By Service, 2016–2023 (USD Million)
Table 9 Training and Education Market Size, By Region, 2016–2023 (USD Million)
Table 10 Support and Maintenance Market Size, By Region, 2016–2023 (USD Million)
Table 11 Email Encryption Market Size, By Deployment Mode, 2016–2023 (USD Million)
Table 12 On-Premises: Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 13 Cloud: Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 14 Email Encryption Market Size, By Organization Size, 2016–2023 (USD Million)
Table 15 Small and Medium-Sized Enterprises: Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 16 Large Enterprises: Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 17 Email Encryption Market Size, By Industry Vertical, 2016–2023 (USD Million)
Table 18 Banking, Financial Services, and Insurance: Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 19 Government and Defense: Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 20 IT and Telecom: Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 21 Healthcare: Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 22 Manufacturing: Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 23 Energy and Utilities: Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 24 Retail: Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 25 Others: Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 26 Email Encryption Market Size, By Region, 2016–2023 (USD Million)
Table 27 North America: Email Encryption Market Size, By Component, 2016–2023 (USD Million)
Table 28 North America: Email Encryption Market Size, By Service, 2016–2023 (USD Million)
Table 29 North America: Email Encryption Market Size, By Deployment Mode, 2016–2023 (USD Million)
Table 30 North America: Email Encryption Market Size, By Organization Size, 2016–2023 (USD Million)
Table 31 North America: Email Encryption Market Size, By Industry Vertical, 2016–2023 (USD Million)
Table 32 North America: Email Encryption Market Size, By Country, 2016–2023 (USD Million)
Table 33 Europe: Email Encryption Market Size, By Component, 2016–2023 (USD Million)
Table 34 Europe: Email Encryption Market Size, By Service, 2016–2023 (USD Million)
Table 35 Europe: Email Encryption Market Size, By Deployment Mode, 2016–2023 (USD Million)
Table 36 Europe: Email Encryption Market Size, By Organization Size, 2016–2023 (USD Million)
Table 37 Europe: Email Encryption Market Size, By Industry Vertical, 2016–2023 (USD Million)
Table 38 Europe: Email Encryption Market Size, By Country, 2016–2023 (USD Million)
Table 39 Asia Pacific: Email Encryption Market Size, By Component, 2016–2023 (USD Million)
Table 40 Asia Pacific: Email Encryption Market Size, By Service, 2016–2023 (USD Million)
Table 41 Asia Pacific: Email Encryption Market Size, By Deployment Mode, 2016–2023 (USD Million)
Table 42 Asia Pacific: Email Encryption Market Size, By Organization Size, 2016–2023 (USD Million)
Table 43 Asia Pacific: Email Encryption Market Size, By Industry Vertical, 2016–2023 (USD Million)
Table 44 Asia Pacific: Email Encryption Market Size, By Country, 2016–2023 (USD Million)
Table 45 Middle East and Africa: Email Encryption Market Size, By Component, 2016–2023 (USD Million)
Table 46 Middle East and Africa: Email Encryption Market Size, By Service, 2016–2023 (USD Million)
Table 47 Middle East and Africa: Email Encryption Market Size, By Deployment Mode, 2016–2023 (USD Million)
Table 48 Middle East and Africa: Email Encryption Market Size, By Organization Size, 2016–2023 (USD Million)
Table 49 Middle East and Africa: Email Encryption Market Size, By Industry Vertical, 2016–2023 (USD Million)
Table 50 Middle East and Africa: Email Encryption Market Size, By Sub-Region, 2016–2023 (USD Million)
Table 51 Latin America: Email Encryption Market Size, By Component, 2016–2023 (USD Million)
Table 52 Latin America: Email Encryption Market Size, By Service, 2016–2023 (USD Million)
Table 53 Latin America: Email Encryption Market Size, By Deployment Mode, 2016–2023 (USD Million)
Table 54 Latin America: Email Encryption Market Size, By Organization Size, 2016–2023 (USD Million)
Table 55 Latin America: Email Encryption Market Size, By Industry Vertical, 2016–2023 (USD Million)
Table 56 Latin America: Email Encryption Market Size, By Country, 2016–2023 (USD Million)
Table 57 Partnerships, Agreements, and Collaborations, 2016–2018
Table 58 New Product Launches/Product Enhancements, 2018
Table 59 Mergers and Acquisitions, 2016–2019
Table 60 Business Expansions, 2016–2017

List of Figures
Figure 1 Email Encryption Market: Research Design
Figure 2 Email Encryption Market: Research Methodology
Figure 3 Market Breakup and Data Triangulation
Figure 4 Market Size Estimation Methodology: Bottom-Up and Top-Down Approaches
Figure 5 Email Encryption Market to Witness Significant Growth in the Global Market During the Forecast Period
Figure 6 North America to Hold the Highest Market Share in 2018
Figure 7 Fastest-Growing Segments of the Email Encryption Market
Figure 8 Increasing Instances of Email Phishing and Spams to Drive the Demand for Email Encryption Solution
Figure 9 Banking, Financial Services, and Insurance Industry Vertical and North America to Hold Highest Market Shares in 2018
Figure 10 Services Segment to Grow at a Higher CAGR During the Forecast Period
Figure 11 Training and Education Segment to Grow at a Higher CAGR During the Forecast Period
Figure 12 On-Premises Deployment Mode to Hold a Higher Market Share in 2018
Figure 13 Large Enterprises Segment to Hold a Higher Market Share in 2018
Figure 14 Healthcare Industry Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 15 Asia Pacific to Emerge As the Best Market for Investments in the Next 5 Years
Figure 16 Drivers, Restraints, Opportunities, and Challenges: Email Encryption Market
Figure 17 Services Segment to Grow at a Higher CAGR During the Forecast Period
Figure 18 Training and Education Segment to Grow at a Higher CAGR During the Forecast Period
Figure 19 Cloud Deployment Mode to Grow at a Higher CAGR During the Forecast Period
Figure 20 Small and Medium-Sized Enterprises Segment to Grow at a Higher CAGR During the Forecast Period
Figure 21 Healthcare Industry Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 22 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 23 North America: Market Snapshot
Figure 24 Asia Pacific: Market Snapshot
Figure 25 Email Encryption Market (Global)Competitive Leadership Mapping, 2018
Figure 26 Key Developments By the Leading Players in the Email Encryption Market, 2016–2018
Figure 27 Market Evaluation Framework
Figure 28 Geographic Revenue Mix of Major Players in the Email Encryption Market
Figure 29 Micro Focus: Company Snapshot
Figure 30 Swot Analysis: Micro Focus
Figure 31 Symantec: Company Snapshot
Figure 32 Swot Analysis: Symantec
Figure 33 Cisco: Company Snapshot
Figure 34 Swot Analysis: Cisco
Figure 35 Trend Micro: Company Snapshot
Figure 36 Swot Analysis: Trend Micro
Figure 37 Sophos: Company Snapshot
Figure 38 Swot Analysis: Sophos
Figure 39 Proofpoint: Company Snapshot
Figure 40 Bae Systems: Company Snapshot
Figure 41 Zix: Company Snapshot
Figure 42 Mimecast: Company Snapshot

Note: Product cover images may vary from those shown
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  • Bae Systems
  • Cisco
  • Cryptzone
  • Echoworx
  • Egress Software
  • Entrust Datacard
  • Frama
  • Intermedia
  • Lux Scientiae (Lux Sci)
  • Micro Focus
  • Mimecast
  • Paubox
  • Proofpoint
  • Sendinc
  • Sophos
  • Symantec
  • Trend Micro
  • Virtru
  • Zix
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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