Email Security Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented, By Deployment (Cloud, On-Premises, and Hybrid), By Type (Boundary Email Encryption, End-to-End Email Encryption, Gateway Email Encryption, Hybrid Email encryption, and Client Plugins), By Application (BFSI, Government, Healthcare, IT & Telecom, Media & Entertainment, and Others (Retail, Defense)) By R
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationEmail Security Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented, By Deployment (Cloud, On-Premises, and Hybrid), By Type (Boundary Email Encryption, End-to-End Email Encryption, Gateway Email Encryption, Hybrid Email encryption, and Client Plugins), By Application (BFSI, Government, Healthcare, IT & Telecom, Media & Entertainment, and Others (Retail, Defense)) By R
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 3.47 Billion |
| CAGR (2023-2028) | 10.25% |
| Fastest Growing Segment | Cloud |
| Largest Market | North America |
Market Overview
Global Email Security Market
Key Market Drivers
Email security refers to the measures and technologies used to protect email communication from cyber threats and unauthorized access. It encompasses various techniques and tools designed to ensure the confidentiality, integrity, and availability of email messages and attachments. Email security solutions typically include spam filters, antivirus software, encryption, authentication protocols, and threat intelligence systems.
Evolving Threat Landscape And User Awareness and Training
Cyber threats are constantly evolving, with cybercriminals developing increasingly sophisticated techniques to exploit email vulnerabilities. This dynamic threat landscape requires email security solutions to adapt and stay ahead of emerging threats. A significant proportion of email-related security breaches result from human error, such as falling victim to phishing attacks. Addressing this challenge requires not only technological solutions but also user awareness and training programs. Businesses and organizations are subject to stringent data protection regulations, such as GDPR and HIPAA. Complying with these regulations necessitates robust email security measures and reporting capabilities.
Email Volume and Complexity
The sheer volume and complexity of email traffic pose challenges for email security solutions. Handling a vast number of emails while accurately identifying and mitigating threats can strain resources and lead to false positives or false negatives. Implementing comprehensive email security solutions can be costly, especially for smaller organizations with limited budgets. Cost-effectiveness and scalability are critical considerations in the adoption of email security measures. The proliferation of cyber threats, including phishing attacks, ransomware, and business email compromise (BEC), has made email security a top priority for businesses. High-profile security breaches have underscored the need for robust email security solutions.
Email as a Primary Attack Vector
Email remains one of the most common attack vectors for cybercriminals. Malicious emails can serve as a gateway for malware infection, data theft, and other cyberattacks. Email security solutions are essential for detecting and blocking such threats. The adoption of cloud-based email services, such as Microsoft Office 365 and Google Workspace, has prompted organizations to seek dedicated email security solutions to supplement built-in security features. These solutions provide additional layers of protection. The shift to remote work and the use of mobile devices for email communication have expanded the attack surface. Email security solutions must adapt to protect users regardless of their location or device.
Advanced Threat Detection Technologies
The development of advanced threat detection technologies, including machine learning and artificial intelligence, has improved the accuracy of email security solutions in identifying and mitigating sophisticated threats. Regulatory frameworks, such as GDPR and CCPA, mandate strict data protection measures, including email security. Organizations must implement solutions that ensure compliance with these regulations, driving the demand for email security tools. Organizations are becoming more aware of the importance of cybersecurity training and awareness programs for employees. This heightened awareness is leading to increased investment in email security education and training.
Key Market Challenges
Rising Cybersecurity Threats
The proliferation of cyber threats, including phishing attacks, ransomware, and business email compromise (BEC), has made email security a top priority for businesses. High-profile security breaches have underscored the need for robust email security solutions. Email remains one of the most common attack vectors for cybercriminals. Malicious emails can serve as a gateway for malware infection, data theft, and other cyberattacks. Email security solutions are essential for detecting and blocking such threats.
Increasing Adoption of Cloud Email Services
The adoption of cloud-based email services, such as Microsoft Office 365 and Google Workspace, has prompted organizations to seek dedicated email security solutions to supplement built-in security features. These solutions provide additional layers of protection. The shift to remote work and the use of mobile devices for email communication have expanded the attack surface. Email security solutions must adapt to protect users regardless of their location or device.
Advanced Threat Detection Technologies
The development of advanced threat detection technologies, including machine learning and artificial intelligence, has improved the accuracy of email security solutions in identifying and mitigating sophisticated threats. Regulatory frameworks, such as GDPR and CCPA, mandate strict data protection measures, including email security. Organizations must implement solutions that ensure compliance with these regulations, driving the demand for email security tools. Organizations are becoming more aware of the importance of cybersecurity training and awareness programs for employees. This heightened awareness is leading to increased investment in email security education and training. Cloud-based email security solutions offer scalability, flexibility, and ease of deployment. They are well-suited to modern email environments and have gained popularity, especially among small and medium-sized businesses.
Integration with Security Ecosystems
Email security solutions are increasingly being integrated into broader cybersecurity ecosystems. This enables organizations to centralize threat detection and response, improving overall security posture. The adoption of the Zero Trust security framework, which assumes that threats may exist both inside and outside the network, emphasizes the importance of securing email communications as part of a holistic security strategy.
Key Market Trends
Rise in Phishing Attacks and Spear Phishing
Advanced Authentication and Authorization
Segmental Insights
Deployment Insights
The cloud-based email security accounted for a larger market share and is projected to grow with a high CAGR during the forecast period as organizations digitally transform and adapt to remote working environments. The usage of cloud-based email security solutions allows remote fingerprint scanning, facial recognition, and document verification to integrate with the servers. Moreover, companies have started adopting these solutions and are realizing that it helps in cost reduction, increasing operational efficiency, and improving security. For instance, According to Cisco Systems, by 2021, 70% of public and private companies are expected to use cloud-based email solutions .
Application Insights
Many businesses are rapidly moving toward adopting electronic mail security solutions due to evolving needs, and the transformation of these solutions has become a growing priority. IT & Telecom to lead as it is teams are constantly under increasing pressure to simplify the deployment and management of security technology, reduce the complexity of their security environments, and strengthen their overall security structure. Organizations are implementing electronic mail security solutions to help protect their digital environments and critical infrastructure from emerging cyber threats. Moreover, the increase in cyber-attacks within the industry has realized organizations adopt electronic mail security solutions.
Regional Insights
The North America region has established itself as the leader in the Global Email Security Market with a significant revenue share in 2022
Recent Developments
- According to IBM Security's annual XForce ThreatIntelligence Index in 2022, the Asia Pacific region was the most attackedregion which accounted for 31% of all phishing attacks globally.
- April 2023 – Cisco, the leader in enterprisenetworking and security, unveiled its most recent advancement toward its visionof the Cisco Security Cloud. Organizations were able to better safeguard theintegrity of their entire IT ecosystems due to the introduction of advanced DuoMFA features and the brand-new XDR solution from Cisco. Cisco XDR analyzes andcorrelates the six telemetry sources that Security Operations Center (SOC)operators consider essential for an XDR solutionemail, identity, DNS, the endpoint,the network, and a firewall.
- May 2022 – Broadcom Inc. and VMware, Inc., aprominent innovator in enterprise software security, announced that Broadcomacquired all of VMware's remaining shares in cash and stock at a valuation ofUSD 61.0 billion. The Broadcom Software Group also announced rebranding asVMware post the transaction's completion, including Broadcom's existinginfrastructure and security software solutions into an expanded VMwareportfolio.
- April 2023 – Fortinet, the worldwide online protectionpioneer driving the combination of systems administration and security,announced that it had extended the Fortinet Security Fabric with new andupgraded solutions and capacities to empower threat prevention for aself-shielding environment across organizations, endpoints, and clouds.
- December 2022 – Proofpoint Inc., a compliance andCybersecurity Company leader, announced the agreement to acquire Illusive, akey player in Identity Threat Detection and Response (ITDR). This acquisitionenhanced Proofpoint's foremost threat and information protection platforms byadding remediation, active identity risk discovery, and a robust post-breachdefense capability.
- November 2022 – Barracuda Networks, Inc. announcedthat Barracuda Email Protection integrated with Amazon Security Lake by AmazonWeb Administrations (AWS). Barracuda Email Protection provides electronic mailsecurity findings coordinated with Amazon Security Lake. Combining the twooptions can address a wide range of security use cases, including threatdetection, investigation, and incident response, while lowering the difficultyand cost for clients using their security data from an electronic mail securitysolution.
Key Market Players
- CanadianSolar
- Entrust
- SAP SE
- Fortinet
- Trend Micro
- EchoWorx
- WatchGuardTechnologies
- Dell, Inc
- Zix
- Apptix,McAfee
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