The global email security market size is USD 3.61 billion in 2020 and is expected to reach USD 12.2 billion by 2027, with an 18.4% CAGR during the forecast period, 2021-2027. Email security is a method opted by organizations and consumers to safeguard the essential email information from cyberattacks, spam, virus attack, denial of service, and other types of malicious software. It introduces the methodology to protect sensitive data from unauthorized access. The rising number of data breaches, social spam, increasing concerns towards malware of data, adoption of bring your own device (BYOD), and opting for cloud-based software are some of the factors propelling the growth of the email security market in the upcoming market.
Email Security Market Dynamics:
During these years, enterprises have been largely attacked by BEC scams, email phishing, and massive financial losses. In BEC, adversaries aim at corporate email accounts, spoofing consumers, employees, or partners for financial gains such as sanctioning payment transfers to cyber criminals' accounts. Growing fraudulent activities such as spear phishing to thieve data for mischievous purposes. All these factors are boosting the growth of the email security market throughout the forecast period.
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Further, cloud security software is the essential technology deployed by the cloud service provider and user to protect the overall cloud infrastructure. Online organizations that depend on the internet as an important source of information exchange, such as e-commerce enterprises like Amazon, are more at risk of cyberattacks. BFSI and healthcare industries are among the other verticals with financial gains, which are more gainful targets for hackers. Several factors, such as the requirement of minimizing onsite data footprints and cost-saving, coupled with rising incidents of a virus, spam, inappropriate access of data through email, and flexible deployment options, are propelling the growth of the market in the upcoming years.
Furthermore, amidst the COVID-19 pandemic crisis, several governments have mandated public and private organizations to follow work from home and maintain social distancing. Since then, internet usage for business proposes email access with home servers, wide usage of mobile devices, and individuals are gradually inclining towards digital technologies like email security, data loss prevention, and email encryption. The rising number of phishing and scam emails has boomed in the pandemic, and enterprises have become more vigilant in safeguarding confidential data stored in email servers. Email security solutions protect organizational data and resources from cyberattacks. However, the company needs to bear the high cost to implement an email encryption solution is the restrain on the market's growth.
Scope of the Report
The report outlines the study of the email security market based on component type, deployment mode, organization size, and end-user.
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Based on component type, the email security market is segmented into –
- Solution
- Service
Based on the deployment model, the email security market is segmented into –
- On-premises
- Cloud
Based on organization size, the email security market is segmented into –
- Small & Medium Enterprise
- Large Enterprise
Based on end-user, the email security market is segmented into–
- BSFI
- Government and Defenses
- IT and Telecom
- Energy and Utilities
- Manufacturing
- Healthcare
- Retail
- Others
Email Security Market: Regional Outlook
From a geographical viewpoint, the electric cars market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa (MEA). In 2020, North America is expected to account for the highest market share in the global email security market during the forecast period. Presence of a huge number of early adopters of the latest technology, the presence of leading players such as Microsoft Corporation, Symantec Corporation, SAP SE, Cisco, and Dell Inc. All these players adopt the latest technology, product innovation, merger & acquisition, product development, and geographical expansion to gain a competitive edge in the market. Further, rising to opt for BYOD and increasing fraudulent activities are accelerating the growth of the market in the region.
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Following North America, Asia Pacific is anticipated to project the highest CAGR growth rate in the email security market during the forecast period. Various industries are adopting email encryption services, including healthcare and banking & financial institutions; a rising number of SMEs in countries like India and China are implementing email security solutions to protect the database, shifting towards digitalization, penetration of the internet are major factors propelling the demand of the email security solutions in the region. With the digital transformation in the Asia Pacific, companies in the region are 80% more prone to cyber-attacks when compared to other regions due to inappropriate cyber laws and lack of cybersecurity awareness. This digitalization has boosted the growth of the email security market in the upcoming years.
Email Security Market: Competitive Landscape –
The leading manufacturers of email security in the global market include Cisco Systems Inc., Broadcom Inc. (Symantec Corporation), Trend Micro Inc., Forcepoint LLC, and Dell Technologies Inc.
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Other email security manufacturers include FireEye Inc., Mimecast Inc., Fortinet Inc., Sophos Group Inc., Proofpoint Inc., and Bae Systems.
- In January 2018, Barracuda Networks, Inc. acquired PhishLine LLC, a leading Saas company. This acquisition is focused on improving the company’s email security product portfolio. By combining Barracuda’s AI-driven security against spear-phishing and phishing with PhishLine’s platform, the organization offers its customers comprehensive protection against email-borne targeted attacks.
- In January 2019, Zix acquired AppRiver for USD 275 million to boost Zix Corporation’s existing email security product portfolio.
- In June 2018, Sophos introduced Sophos Email Advanced, which is an email protection solution. This solution would provide organizations with anti-phishing email authentication, active threat protection, and outbound scanning to protect their network infrastructures.
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