Email Security Market Size Projected to Hit USD 11.3 Billion at a 13.1% CAGR by 2030 - Report by Market Research Future (MRFR)
Email Security Market Scope:
Accelerating digital transformation and adoption of cloud email services worldwide is making organizations reorganize their email security size architecture and technology stack. With organizations increasingly working to consolidate technology vendors, the Email Security Market is growing profusely. Besides, the rising demand for unparalleled phishing intelligence and deployments of email security platforms in enterprises worldwide substantiates the email security market growth. Email Security Market to grow at a CAGR at a 13.1% with USD 11.3 billion by 2030.
Email security is a critical aspect of protecting email accounts and communications from unauthorized access, loss, or compromise. It involves the practice of establishing policies and using tools to protect against various malicious threats such as malware, spam, and phishing attacks. Cybercriminals often target email because it can serve as an easy entry point to other accounts and devices, relying in large part on human error.
Dominant Key Players on Email Security Market Covered Are:
- Cisco Systems, Inc (US),
- Dell, Inc (US), Fortinet (US)
- McAfee, Inc (US)
- Symantec Corporation (US)
- Appriver (US), Apptix (US)
- Microsoft Corporation (US)
- Mimicast (UK)
- SAP SE (US)
- BAE Systems (UK)
- Sophos (UK)
- Egress Software (UK)
- Entrust Datacard (US)
- FireEye
- Cryptzone (US)
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Market Drivers:
Ongoing commitments of various organizations to improve the MSP ecosystem to solve the phishing problem and take email security to another level push the market growth further. Also, the growing demand for advanced email protection solutions that can address the MSPs business requirements crates substantial market opportunities. The advent of advanced AI and automation capabilities impact market growth positively.
The market is estimated to garner significant traction worldwide. With email systems incorporated into every business system and growing digitization, the need for email security is growing too.
Security providers strive to offer one-stop solutions for organizations' email security needs, eliminating the need for many expensive and slow-to-deploy legacy solutions. They look forward to advancing phishing detection and response capabilities to disrupt the email security market. They lay the groundwork to support their customers and maintain high-quality solutions.
Segmentation of Market Covered in the Research:
The email security market is segmented into types, components, deployments, organization size, industry verticals, and regions. The type segment is sub-segmented into boundary email encryption, end-to-end email encryption, gateway email encryption, hybrid email encryption, and client plugins.
The component segment is sub-segmented into solutions and services. The sub-segment service is further bifurcated into support maintenance and training education. The organization size segment is sub-segmented into small medium enterprises (SMEs) and large enterprises.
The deployment type segment is divided into cloud and on-premise. The industry vertical segment is sub-segmented into BFSI, government, IT telecom, healthcare, retail, manufacturing, energy utilities, and others. The region segment is sub-segmented into Americas, Europe, APAC, and the Rest-of-the-World.
Industry Trends:
AI-based email security and multi-factor authentication are major trends observed in the market. In today's work from home (WFH) environment, policies related to employee devices and BYOD work scenarios should be comprehensive enough to immune email breaches and threats. Also, the introduction of biometric authentication to email encryption platforms that enable secured password-less authentication options is one of the key industry trends.
Many organizations are increasingly shifting their data storage to cloud, thereby requiring high-security services. Additionally, the high adoption of cloud-based technology by government agencies and BFSI, healthcare, and manufacturing sectors and the proliferation of digital transformation are megatrends impacting the market growth positively. However, rising uses of previously unknown cybersecurity vulnerabilities to break into victim networks are major factors restricting the growth of the email security market.
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Regional Analysis:
North America leads the global email security market majorly due to advances in email security technologies. Besides, the presence of major solution providers and well-established IT infrastructure substantiates the market growth. Substantial investments by various organizations to enhance their email security platforms and thereby business productivity drive the regional market growth.
Moreover, the vast availability of improved marketing techniques, such as email marketing and increasing numbers of cell phone users, boosts the region's market share. The North American email security market is projected to retain its dominance throughout the forecast period.
Europe stands second in the global email security market. The market growth is driven by the presence of various notable players and large deployments of email security platforms in marketing. Additionally, rising numbers of SMEs and large enterprises with sizable investments act as significant tailwinds for the region's market growth.
Furthermore, the high adoption of cloud technologies in email marketing solutions used across the growing number of retailers pushes the regional market growth. The European email security market is predicted to create a substantial revenue pocket during the assessment period.
The Asia Pacific email security market is growing rapidly. Factors such as the increasing adoption of email marketing platforms for lead generation drive the regional market's growth. The rising adoption of AI technology and cloud deployments by large and SMEs to enhance customer experience and operational performance boost the regional market's development. The APAC email security market is expected to grow at a significant rate during the forecast period.
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