This market research report presents a detailed segmentation of the global e-mail encryption market by deployment (cloud-based and on-premises), by end user (BFSI, healthcare, government, and others), and by geography (the Americas, APAC, and EMEA). The key leading vendors analyzed in this market study are Cisco Systems, McAfee, Proofpoint, Symantec, and Zix.
Technavio’s market research analysts estimate the global e-mail encryption market to grow at a CAGR of around 23% between 2016 and 2020. High adoption of e-mail encryption solutions is expected among organizations in the BFSI sector as their e-mails contain highly confidential and financial details of customers. Due to the cost-effectiveness of cloud-based e-mail encryption solutions, their implementation rate is higher than on-premises e-mail encryption solutions. The Americas dominate the global market for e-mail encryption, accounting for 42% of eth total market share. The major reason of this reason’s growth is the increasing prevalence of insider fraud in organizations.
Advantages of e-mail encryption
“Of late, the market is witnessing growing use of biometrics for e-mail encryption. Vendors are focusing to integrate biometric technologies with e-mail encryption software to provide better security to data transmitted through e-mails. For instance, Ceelox provides a software application named SecureMail that uses biometric traits of an individual such as fingerprints for encrypting and decrypting information in e-mails,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research
The BFSI sector is expected to be the largest end user of e-mail encryption solutions during the forecast period. Since organizations in the BFSI sector are prime targets for fraudulent activities, the level of awareness and the adoption of e-mail encryption solutions are continually increasing. This increase in the adoption of e-mail encryption solutions will positively affect the market revenue and growth potential for this particular segment. In terms of revenue, the BFSI market segment will post a market value of more than USD 549 million by 2020.
The key players in the global e-mail encryption market include Cisco Systems, McAfee, Proofpoint, Symantec, and Zix. This market is fragmented with the presence of many multinational vendors and small regional players. To survive and succeed in this competitive market, many large players are acquiring smaller vendors to expand their product portfolio and market shares. The vendors that have the ability to distinguish their offerings through unique selling propositions will gain a competitive edge over their rivals.
A more detailed analysis is available in the Technavio report, Global E-mail Encryption Market 2016-2020.
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