According to a new market research report "Email Encryption Market by Deployment Type (On-Premises and Cloud), Industry Vertical (BFSI, Healthcare, Government, Retail, and IT and telecom), and Region (North America, Europe, APAC, MEA and Latin America) - Global Forecast to 2020", the email encryption market is expected to reach USD 4.21 Billion by 2020 at an estimated compound annual growth rate of 23.5%
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The email encryption market is expected to grow increasingly due to the augmentation and modernization of technology in this sector. Today, there has been a high growth of email encryption adoption among small and medium enterprises in various industry verticals. These enterprises require email encryption solutions in order to secure their confidential and personal documents from theft and loss.
The rise in the adoption of Bring Your Own Device (BYOD) policies in the organizations has increased the usage email encryption
The rise in the adoption of BYOD policies in organizations has increased the usage of personal devices among employees to access organizational information. Moreover, it has enhanced the usage of personal devices to access real-time information related to organization from anywhere. It has also increased the risk of data theft while sending and receiving mails. There by, organizations and users need to implement email encryption solution to communicate with other parties without the risk of losing information to hackers.
The adoption of standards and privacy rules such as PCI DSS are driving the email encryption market
The email encryption market is growing in North America and European regions due to the adoption of standards and privacy rules such as PCI DSS and HIPAA. Moreover, rising demand for cloud-based services is furthering the growth of the email encryption market as users have started demanding cloud-based encryption solutions as cloud-based services are less costly. At present, users in Asia–Pacific (APAC) have started implementing encryption solutions but lack of knowledge regarding its usage and advantages is restricting the adoption of email encryption solutions.
The email encryption market is consolidated with big players
The email encryption market is consolidated with big players, such as HP, Symantec, McAfee, Sophos, TrendMicro, Cisco, Proofpoint, Entrust, Zix Corporation, and Microsoft. The report also defines the top European vendors such as Galaxkey, DESLock+ and Tutanota, which have presence in other regions as well.
BFSI and Healthcare vertical contributes maximum market share
The Email Encryption market is segmented by region as North America, Europe, APAC, Middle East and Africa (MEA) and Latin America; by deployment type as on-premises and cloud; and by industry vertical as BFSI, healthcare, retail, government, manufacturing, education, IT and telecom, and others. This report analyzes global adoption trends, future growth potentials, key drivers, restraints, opportunities, and best practices in the market. The report also examines potential market sizes and revenue forecasts across different regions as well as user segments.
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