As we send more information via e-mail, protecting that information has become essential, whether you’re an individual, small business, or large enterprise.
Demand for better encryption solutions is translating into big projections for the global e-mail encryption market. The market was worth $541.4 million in 2015 and will reach $1.55 billion by 2020, growing at a compound annual growth rate of 23.47%.
Major e-mail clients
Source: Technavio
Technavio analysts have identified four key trends that will be instrumental to growth of the e-mail encryption market over the forecast period.
Emergence of integrated security solutions
Standalone solutions often come with integration issues, which is resulting in the rise of integrated solutions that provide a one-stop security shop for all devices and networks.
As network infrastructure becomes more and more complex, vendors need to offer solutions integrated with e-mail encryption to stay relevant in the market and increase adoption among end-users.
Growing use of biometrics for e-mail encryption
A number of biometric technologies such as fingerprint recognition and facial recognition have become an important and increasingly common part of organizational security. Technavio analysts expect e-mail encryption vendors to start adopting biometrics solutions to step-up their security through the forecast period.
A few vendors are ahead of the curve and already offering this breed of encryption. Ceelox, for instance, provides a software application named SecureMail that uses biometric traits like fingerprints to encrypt and decrypt e-mails.
Shift toward multifactor authentication
Biometrics are just one example of multifactor authentication, which uses two or more authentication methods to act as an additional layer of security to prevent unauthorized access to a physical location, database, or computing device.
These solutions can incorporate everything from personal identification numbers to phone-based authentication, making them one of the most secure authentication systems available on the market.
Vendors such as Zix, McAfee, and Proofpoint all provide multifactor authentication for encrypting and decrypting e-mails over a network.
Increased adoption by SMBs
E-mail encryption isn’t just for big companies anymore. Changes in organizational requirements have prompted small and medium-sized businesses (SMBs) to innovate their existing business models and enterprise infrastructure to include better e-mail encryption.
E-mail encryption helps SMBs streamline their business processes, and ensure the security of data transmitted via e-mail.
For more information on e-mail encryption and similar topics, view Technavio’s enterprise application report library.
