Email Encryption Software Market Expected to Reach $10.5 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Email Encryption Software Market,Email Encryption Software Market By Component (Solution, Service), By Deployment Mode (On-Premise, Cloud), By Organization Size (Large Enterprises, Small And Medium-Sized Enterprises), By Industry Vertical (BFSI, IT And Telecom, Retail And E-Commerce, Healthcare, Manufacturing, Government, Energy And Utilities, Others): Global Opportunity Analysis And Industry Forecast, 2023-2032". The email encryption software market size was valued at $2.9 billion in 2022, and is estimated to reach $10.5 billion by 2032, growing at a CAGR of 13.9% from 2023 to 2032.

Email encryption software provides data encryption capabilities to several industries by enabling the confidentiality of sensitive information. It allows organizations to protect their assets from various cyber-attacks and improve customer experience.

In addition, organizations are increasingly employing email encryption software to enhance their security services. Moreover, in the healthcare sector, email encryption software is essential for protecting the privacy and security of sensitive patient data transmitted across email. This sector deals with vast amounts of sensitive data, which in turn provides lucrative opportunities for the growth of email encryption software market. Meanwhile, there is an increase in demand for email encryption software in the government sector, which can improve privacy and data protection capabilities of crucial assets. Multiple applications offered by email encryption software in several industries are expected to propel the global market demand.

On the basis of deployment mode, the on-premise segment dominated the email encryption software market in 2022 and is expected to continue this trend during the forecast period. As on-premise deployment model may provide an extra level of security to the organizations. These factors further drive the demand for this segment in the global market. However, the cloud segment is expected to exhibit the highest growth during the forecast period. The growth of the segment of cloud security is mainly driven by the increase in the adoption and susceptibility of wireless networks, as facilities increasingly rely on wireless networks for data transfer.

By region, North America dominated the market share in 2022 for the email encryption software market. Businesses in this area are embracing security solutions at an increasing rate, which in turn are expected to propel global market growth. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. The presence of strong government policies regarding privacy and security in this region has been driving the growth of the global market.

With most of the population confined in homes even after the lockdown measures of the COVID-19 pandemic, businesses needed to optimize their business operations and offerings to maximize their revenue opportunities while optimizing their operations to support the rapidly evolving business environment post the outbreak of the COVID-19 pandemic. This enabled many businesses to invest in email encryption software solutions. In addition, integrating advanced technologies such as artificial intelligence (AI) and machine learning (ML) into email encryption software can enhance threat detection, anomaly detection, and predictive analysis. These technologies can support detecting suspicious activity, identifying possible security breaches, and automating encryption procedures based on user behavior patterns.

Furthermore, rise in trend of cloud computing in several industries including email encryption software industry is anticipated to create numerous opportunities for growth. For instance, in March 2021, IBM launched new and enhanced services designed to help organizations manage the cloud security strategy, policies, and controls across hybrid cloud environments. Therefore, numerous strategies adopted by businesses further help to accelerate the email encryption software market analysis.

Key Findings of the Study

• By component, the solution segment accounted for the largest email encryption software market forecast share in 2022.
• By deployment mode, the on-premise segment accounted for the largest email encryption software market share in 2022.
• By organization size, the large enterpses segment accounted for the largest email encryption software market share in 2022.
• By industry vertical, the BFSI segment accounted for the largest email encryption software market share in 2022.
• Region wise, North America generated the highest revenue in 2022.

The market players operating in the email encryption software industry are Proofpoint Inc., BAE Systems, CipherMail B.V., Cisco Systems, Inc., Hewlett Packard Enterprise (HPE), Micro Focus International plc, Proton Technologies AG, Sophos Ltd., Trend Micro Incorporated, and Virtru. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the email encryption software market globally.