The publisher expects the market to reach a value of US$ 6.9 Billion by 2024, registering a CAGR of 19.3% during 2019-2024
The global email encryption market reached a value of US$ 2.4 Billion in 2018. Email encryption refers to the authentication mechanism of encoding and disguising the contents of an email to protect it from unauthorized access. Email is an extremely vulnerable mode of communication that can be hacked over unsecured or public networks. Encryption is one of the primary data security solutions in the present times. It secures the contents of the email by making them unreadable as they get transferred over networks. The methodology primarily depends on cryptography wherein the user publishes a key to decrypt the message. Email encryption is an essential tool for both organizations and individuals as it prevents the access of important and confidential data by unintended users.
The rising demand for cloud-based services along with increasing data security concerns and privacy regulations is the key factor driving the growth of the market. Furthermore, frequent instances of phishing and spam emails are also positively influencing the market. With a significant increase in the usage of email services by corporate organizations and individuals, the probability of unauthorized and unidentified sources accessing the content has increased. This has encouraged consumers to implement email encryption to secure their sensitive data against losses and manipulation. Additionally, it also prevents cyber threats and attacks through malware, spam, viruses, Business Email Compromise (BEC) and other intrusions that expose sensitive enterprise information.
No comments:
Post a Comment