USD 7.1 Billion
Report ID:
SQMIG45F2084 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|Tables:
88
|Figures:
76
Email Security Market size was valued at USD 8.09 Billion in 2023 and is poised to grow from USD 9.22 Billion in 2024 to USD 26.32 Billion by 2032, growing at a CAGR of 14% during the forecast period (2025-2032).
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.
Global Market Size
USD 7.1 Billion
Largest Segment
Gateway Email Encryption
Fastest Growth
Gateway Email Encryption
Growth Rate
14% CAGR
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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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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.
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Drivers
Growing Adoption of Cloud-Based Solutions
Growing Prevalence of Cyberattacks
Restraints
Lack of Awareness about Email Security Solutions
Evolving Threat Landscape
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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
Recent Developments
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 2023 | USD 8.09 Billion |
Market size value in 2032 | USD 26.32 Billion |
Growth Rate | 14% |
Base year | 2024 |
Forecast period | 2025-2032 |
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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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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Report ID: SQMIG45F2084
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