USD 7.1 Billion
Email Security Market Size, Share, Growth Analysis, By Type(Boundary email encryption, end-to-end email encryption, gateway email encryption, hybrid email encryption), By Deployment(Cloud and on-premise), By Component(Solutions and services), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45F2084 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|Tables:
88
|Figures:
76
Email Security Market Insights
Global Email Security Market size was valued at USD 7.1 Billion in 2022 and is poised to grow from USD 8.09 Billion in 2023 to USD 23.09 Billion by 2031, at a CAGR of 14% during the forecast period (2024-2031).
Several key trends and drivers are contributing to the healthy growth of the market. With the employee mobility on the rise, there is a greater requirement for secure remote access to emails that has aided in the growth of powerful email security solutions. Moreover, the trend of using cloud-based email services rather than traditional on-premises solutions has become widespread. Cost-effectiveness and flexibility have driven the adoption of open-source email security solutions, and e-mail encryption has also become increasingly popular. Additionally, these trends are likely to continue influencing the market post-COVID-19, with an increased emphasis on advanced threat protection (ATP), data loss prevention (DLP), cloud analytics, and user behaviour analytics.
However, factors such as evolving threat landscape, email phishing attacks, and regulatory compliance are hindering the market growth. Organizations often face challenges in terms of evolving threats, so email security companies need to keep innovating and come up with solutions that can address the concerns or needs progressively. Email can be susceptible to various cyber threats, including viruses and malware, as well as phishing attacks. With the advancement of technology and adoption of BYOD concept, organizations are now increasingly using cloud-based email services. This means that it has become imperative for organizations to secure their emails, leading to the expansion of email security market growth.
US Email Security Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Gateway Email Encryption
Fastest Growth
Gateway Email Encryption
Growth Rate
14% CAGR
Global Email Security Market ($ Bn)
Country Share for North America Region (%)
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Email Security Market Segmental Analysis
Global Email Security Market is segmented by type, deployment, component and region. Based on type, the market can be segmented into boundary email encryption, end-to-end email encryption, gateway email encryption, hybrid email encryption, and client plugins. Based on deployment, the market is segmented into cloud and on-premise. Based on component, the market is segmented into solutions and services. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Deployment
Based on deployment, the market is segmented into cloud, on-premises and hybrid. The cloud segment is dominating with the largest email security market share. This rapid growth in the market is due to increasing adoption of digital transformation among organizations for offering better work-from-home setting. Cloud-based email security solutions enable remote fingerprint scanning, facial verification, and document verification to integrate with the servers. Additionally, organizations have already started implementing such solutions and they are understanding that it can help them to reduce costs, boosts productivity, and enhances security. Furthermore, in recent times most of the public and private companies are leveraging cloud-based email solutions. As a result, the rising popularity for cloud-based email security provides an opportunity to increase growth opportunities for the market.
On premise segment is witnessing the fastest growth with a rapidly increasing email security market size. Email security is integral to IT security by protecting organizations from viruses, phishing, and spam attacks that target mails and accounts. The growing technology and rapid BYOD adoption has led to the implementation of email security solutions for endpoint level network security. To solve functional problems and get rid of attacks, email security solutions should be integrated into existing security infrastructures. Cybersecurity experts deal with the severity of attacks ranging from fraud protection against credit theft and account hacking to social spam. As a result, many organizations now choose on-premises email security solutions for their flexibility and productivity benefits. Many companies are also investing in email security solutions to follow security standards and manage workloads efficiently, ensuring business continuity.
Analysis by End Use
The IT & Telecom segment is dominating the market because they are constantly under pressure to smoothen the implementation and management of security technology. It is also vital for these organizations to minimize the complexity of their security settings and increase the strength of their security structure. Many companies are also integrating email security solutions for protecting their digital settings and vital infrastructure from various cyberthreats. The rise on cyberattacks among the industry is also pushing the organizations to adopt email security solutions. For example, in December 2022, the top telecom provider TPG Telecom Ltd. Announced about a cyberattack that got illegal access to an exchange service that consists of email accounts of up to 15,000 business customers. The attack was conducted to get hold of the customers’ cryptocurrency and financial information. Therefore, email security solutions in IT & Telecom is providing robust data governance and a secure framework.
The BFSI segment is witnessing the fastest growth with the largest CAGR during the email security market forecast period. This is because the financial sector has been facing the highest number of cybersecurity attacks which have led to an increase in data breach incidents within the BFSI industry. This increases the requirement for electronic mail security solutions in order to keep email secure. This is because financial data are extremely sensitive and the cyber threats directed to financial institutions are growing in number and scale. BFSI is taking email security as the top priority because these organizations need to protect sensitive client information, and financial fraud that requires immediate attention. These email security tools also help them to comply with regulatory requirements such as DPR and PCI DSS.
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Email Security Market Regional Insights
North America accounted for the largest market share due to growing mobile device adoption by organizations, compliance regulations, and cloud-based email security solutions entering the scene. Additionally, the sudden rise in phishing and email scams during the pandemic has led businesses to pay more attention towards protection of sensitive data stored on email servers. The rapid growth of email security solutions is primarily due to the rise in demand for safeguarding enterprise information and infrastructure. Countries like United States and Canada is the hub of many major enterprise, financial institutions, and government assets all needing heavily robust email security solutions to secure sensitive data.
The Asia Pacific region is dominating the email security market. This is because of the growing usage of Artificial Intelligence (AI) and sophisticated social engineering by cyber-attackers to carry out data theft through email phishing has been the highest in Asia Pacific. Moreover, firms in Asia Pacific remain increasingly vulnerable to a rising number of cyber threats because attackers exploit economic and create geopolitical disruptions. These factors are encouraging growth in electronic mail security options within the region. In 2022, IBM Security's annual XForce Threat Intelligence Index, the Asia Pacific region was the most attacked region accounting for 31% of all phishing attacks globally.
Global Email Security Market By Geography
- Largest
- Fastest
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Email Security Market Dynamics
Drivers
Growing Adoption of Cloud-Based Solutions
- The transition to cloud-based email solutions is increasing due to a rise in phishing attacks. Security and risk management leaders have started assessing the capabilities of cloud-based email systems to withstand phishing, malware and ransomware threats. Organizations are also moving to cloud-based mailbox services and shifting from on-premises servers to cloud servers.
Growing Prevalence of Cyberattacks
- The scope of attacks by cyber-attackers has been broadened. They're coming up with new methods to rob identities, including phony domain names created externally and need independence on URL sites and email header domains. These attackers also engage in attacks that combine email and cloud-based accounts or use outbound mail as a bot which threatens the reputation of a company.
Restraints
Lack of Awareness about Email Security Solutions
- Most organizations cannot implement a basic electronic mail security infrastructure in order to conduct normal business activity. Besides, weak IT infrastructure and lack of organizational foresight affect the processes, business and the end-user. With an increase in the amount and effectiveness of these attacks, coupled with cloud migration, it has forced security control teams to revisit their email security controls.
Evolving Threat Landscape
- The constantly transforming threat landscape is one of the most challenging difficulties in email security. Cybercriminals are continuously creating more complicated strategies like phishing, spear-phishing, ransomware, and business email compromise (BEC). Such attacks can often escape conventional email security filters by using social engineering techniques or advanced malware.
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Email Security Market Competitive Landscape
The email security market is extremely dynamic due to the presence of several emerging service providers dominating it. Most of the large and emerging players are using strategies, such as collaborative agreements, acquisitions, partnerships between end-users, and introducing new devices. Rapid advancements in the security tools and software in the email security industry is boosted by the growing prevalence of cybercrime. The market is also witnessing development due to competition due to technological advancements, evolving customer demands, and the need for continuous innovation to stay ahead in the battle against email-borne threats.
Top Player’s Company Profiles
- McAfee, Inc (US)
- Symantec Corporation (US)
- Appriver (US)
- Apptix (US)
- Microsoft Corporation (US)
- Mimecast (UK)
- SAP SE (US)
- BAE Systems (UK)
- Sophos (UK)
- Egress Software (UK)
- Entrust Datacard (US)
- FireEye (US)
- Cryptzone (US)
- Trend Micro (Japan)
- Proofpoint (US)
- Barracuda Networks (US)
- Trustwave Holdings (US)
Recent Developments
- In January 2024, Stellar Cyber entered a partnership with cybersecurity and compliance company Proofpoint. It will help them to deliver email security solutions for SecOps Teams powered by Stellar Cyber’s Open XDR platform.
- In April 2023, Fortinet, the global cybersecurity leader enabling a range of networking and security solutions, has expanded the Fortinet Security Fabric. The expansion has been done with additional new and enhanced offerings and capabilities to provide customers with threat prevention.
- In February 2023, Sublime Security announced the raise of USD 9.8 million in funding. Theu also launched the world’s first open email security platform to prevent, identify and block phishing attacks.
Email Security Key Market Trends
- Growing Adoption of AI and Machine Learning: The usage of AI and machine learning are massively increasing in email security. This allows for more advanced threat identification and prevention. The conventional email security systems use predetermined criteria for detecting risks whereas the present AI-powered solutions can study patterns, identify abnormalities, and forecast new attack strategies.
- An Increase in Employee Mobility: The growth of employee mobility has become an important email security market trend. This market is growing at a considerable rate due to the rise in adoption of mobile devices and the growing mobile workforce within organizations. With BYOD policies gaining ground, employees are accessing work emails on personal devices, which is increasing the potential of cyberattacks.
Email Security Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the email security is a critical aspect of IT security for organizations. This is because the number of mails and email accounts continue to increase, so do the risks of viruses, cyber threats, attacks, and functional issues. Email security solutions have become essential in securing email infrastructures from various threats, including account hacking, fraud protection, social spam, and phishing attacks. The technological growth in email security solutions has led to the integration of network security, endpoint security, and cloud security. The adoption of BYOD policies in organizations has further complicated email security arrangements, necessitating the need for security infrastructures.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.1 Billion |
| Market size value in 2031 | USD 23.09 Billion |
| Growth Rate | 14% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Email Security Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Email Security Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Email Security Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Email Security Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Email Security Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Email Security Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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