Global Email Security Market By Type (Hybrid Email Encryption, Gateway Email Encryption, End to End Email Encryption, Email Encryption), Component Type (Solution, Service), Deployment Model (On-premises, Cloud), Organization Size (Small & Medium Enterprise, Large Enterprise) End-user (BSFI, Government & Defenses, IT & Telecom, Energy & Utilities, Manufacturing, Healthcare, Retail), and Region - Market Perspective, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast for 2023-2032

Market Perspective

The global Email Security Market size was valued at around USD 4.8 billion in 2022 and is anticipated to grow to around USD 6.29 billion by 2030 at a CAGR of roughly 3% between 2022 and 2030. The market for email security is expected to expand as an increasing number of individuals begin to use cloud-based solutions. Customers utilize email security solutions to protect sensitive data against various threats, such as malicious software and service denial attacks.

Email security is a strategy used by businesses and individuals to protect sensitive email data against cyber-attacks, spam, virus attacks, denial of service attacks, and other dangerous software. The adoption of bring your own device (BYOD), social spam, rising concerns about data viruses, an increase in data breaches, and preference for cloud-based software are a few of the factors boosting the growth of the email security market.

Email security can be achieved using a variety of methods, including strong passwords, spam filters, desktop antivirus software, and digitally signing emails. For instance, in May 2022, the National Cyber Security Centre (NCSC) of the UK introduced a new email security check service to assist businesses in identifying vulnerabilities that could enable attackers to fake emails or result in email privacy violations. The tool further assists organizations in auditing their defenses, enables users to use publicly accessible information on email domains, and assesses the dangers associated with anti-spoofing and email privacy.

Key Market Insights

• Based on type, the end-to-end email encryption segment held the largest market share
• Based on component type, the service segment held the largest market share
• Based on the deployment model, the on-premises segment dominated the market
• Based on organization size, the small & medium enterprises segment dominated the market share
• Based on end-user, the healthcare segment accounted for the largest market share
• On the basis of region, North America held the largest market share

Increasing Adoption of BYOD and Rising Fraud Activities in Organizations Augment the Market Growth

BYOD is a new trend where employees use their own devices, such as smartphones, tablets, and laptops, to remotely access any organization's network and complete their assigned tasks. The widespread use of BYOD has raised security concerns and ultimately increased the risk of malware entering any BYOD device that isn't properly secured. Organizations are increasingly using BYOD by implementing email security solutions to protect them from fraudulent activities, which is driving the market growth.

Rising Cyber Threats and Malicious Activities Fueling Market Growth

The market for email security has gained popularity as a result of the increase in cyber threats and social spam. Moreover, the need for manual administration of email security setups by the IT organization and the solution's capacity to work with email security to prevent attacks on both on-premises and cloud platforms are contributing to the rise in demand for email security. Players operating in the email protection security market are benefitting from the lucrative opportunities created by the increase in the chances of spear phishing, seizure, and credential theft. These aforementioned factors are projected to have a positive impact on the email security market.

Growing Adoption of Cloud-based Security Solutions Provides Lucrative Opportunities For Market Growth

Financial institutions that require a centralized, searchable archive of historical data and the healthcare industry, as well as governmental entities, are willing to adopt cloud-based solutions. The cloud-based solutions assure a low total cost of ownership as well as superior techniques for handling the complexity of the data quantities. For instance, in December 2022, the MetaDefender Email Gateway Security solution from OPSWAT offered businesses advanced email security controls along with cost savings, scalability, ease of use, and increased productivity. MetaDefender Cloud Email Security provides superior malware and unknown zero-day threat protection at a meager cost for setting up, running, and maintaining IT systems.

In addition, cloud-based solutions provide on-demand scalability without increasing costs for the companies, and these factors are likely to assist market expansion in the foreseeable future.

Availability of Open-Source Solutions Acts as a Challenge for the Market

The popularity of open-source solutions is rising on a global scale, yet the majority of small enterprises and individual customers have limited capital and are unable to spend on such exorbitant solutions. As a result, these customers choose open-source software to run their businesses with no upfront costs, which presents a significant challenge for the market. Open-source security solutions can be an affordable solution for enterprises with limited resources and expertise. As a result, customers adopt open-source solutions to manage their business operations with no capital investment. Such factors may limit the growth of the market during the forecast period.

Segmentation Analysis

Based on type, the market is segmented into hybrid email encryption, gateway email encryption, end-to-end email encryption, email encryption, and others. The end-to-end email encryption segment is expected to dominate the market during the projected timeframe. Several factors attributable to the surge in demand for the segment include the increasing frequency of cyber-attacks, along with the sophistication of malware, spam, and phishing attacks occurring globally.

Based on the components, the global market for email security is bifurcated into solutions and services. The services segment is estimated to witness the highest CAGR during the forecast period. Protection against increasingly sophisticated architectures is ensured by these email security services.

Based on vertical, the market is categorized into energy and utilities, healthcare, IT and telecom, manufacturing, retail, and others. The healthcare segment is projected to grow at the highest CAGR during the forecast period. The factors that can be attributed to boosting the demand for the segment include an increase in the number of cyberattacks, such as ransomware and misinformation campaigns on healthcare organizations with electronically protected health information (ePHI).

Recent Developments

In November 2022: Abnormal Security added the latest additions to its product portfolio as it moves forward to offer the most comprehensive cloud email security on the market. As attackers discover new ways to attack organizations, technological advancements, and product innovations protect customers from new email platform attacks that are growing in volume and severity.

In May 2022: KnowBe4 introduced a new product feature called PhishFlipTM that converts real phishing attacks into safe, simulated phishing templates. PhishFlip quickly analyzes user-reported messages, identifies and removes both malicious links and dangerous attachments, and replaces them with safe alternatives for testing purposes.

North America is Dominating the Market Due to the Presence of Major Solution Providers and Well-Established IT Infrastructure

The demand for email security in North America is anticipated to be fueled by the presence of a large number of email security solution providers, along with the increase in investments made by reputable IT organizations in the U.S. and Canada to enhance their email security platforms. Additionally, the email security market share across the region is expected to increase by the widespread accessibility of advanced marketing strategies such as email marketing and the rising number of cell phone users.

Asia Pacific is the Fastest Growing Market Owing to the Growing Number of SMEs Implementing Email Security Solutions

The email security market in Asia Pacific is expected to grow at the fastest CAGR rate. The healthcare sector and banking & financial institutions in the region have adopted email encryption services, which are anticipated to support regional market growth. A growing number of SMEs in nations such as India and China are implementing email security solutions to protect their databases. Moreover, the region's shift towards digitalization and internet penetration are two major factors driving the demand for email security solutions.

Businesses in the Asia Pacific are 80% more vulnerable to cyberattacks than those in other regions on account of ineffective cyber legislation and a lack of cyber security knowledge. The email security market is expected to grow significantly in the upcoming years as a result of this digitalization.

Competitive Landscape

• Cisco Systems Inc.
• Forcepoint
• Dell Inc.
• McAfee, LLC
• SAP
• Egress Software Technologies Ltd.
• Sophos Ltd.
• Proton AG
• Intel Corporation
• Trustifi, LLC
• Fusion Connect, Inc.
• Perception Point Inc.
• Abnormal Security Corp.
• KnowBe4 (Vista Equity Partners)

The global email security market is segmented as follows:

By Type

• Hybrid Email Encryption
• Gateway Email Encryption
• End to End Email Encryption
• Email Encryption
• Others

By Component Type

• Solution
• Service

By Deployment Model

• On-premises
• Cloud

By Organization Size

• Small & Medium Enterprise
• Large Enterprise

By End-user         

• BSFI
• Government & Defenses
• IT & Telecom
• Energy & Utilities
• Manufacturing
• Healthcare
• Retail
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Reunion
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America