E-mail Encryption
Market: Overview
The technology
penetration among small and medium scale industries has increased the
use of e-mail for sharing information amongst its employees and
clients. These e-mails often carry confidential data which needs to
be protected from manipulation and theft. E-mail
encryption is a tool which helps organizations to protect
their information from malicious programmers. The process, known as
cryptography, is used to protect the e-mail in e-mail encryption. The
e-mail (or plain text) is initially converted into encrypted text
(cipher text) and a private key is used to retrieve the information
from the cipher text at the terminal end. The rising number of
organizations replying on the use of email globally is the key factor
attributable for the growth of e-mail encryption software market.
E-mail Encryption
Market: Segmentation
The e-mail
encryption market is segmented on the basis of deployment and end-use
industry. In terms of deployment, e-mail encryption market is further
segmented as web-based services and cloud based services. In
web-based service, the software services are provided to the user by
service provider through internet. An e-mail encryption software is
installed at the user-end and all client related information is
stored in the user’s data storage device.
Cloud based e-mail
encryption software provides the services from remotely located data
center and provides ease in accessing the data from everywhere. On
the basis of end-use industry, the e-mail encryption market is
classified as telecom & IT, banking, financial services and
insurance (BFSI), government and public, retail, military and
defense, manufacturing, healthcare and others (media and
entertainment, education). The widest adoption of e-mail encryption
tools is expected to be in telecom and IT and BFSI industries.
E-mail Encryption
Market: Growth Enablers
The high
confidentiality requirement and vast technology invasion are expected
to be the key factor in adoption of e-mail encryption software. The
strict government reforms for data privacy is the key driver which is
anticipated to increase the market growth. For instance, on 15th
December 2015, the European parliament reached an agreement to
mandate data protection amongst European Union (EU) countries.
Furthermore, growing data breaches and mobility provided by the
handheld devices is expected to drive the market demand in the near
term.
The management of
multiple keys to decrypt e-mail is an unintended payload which
increases the complexity to its managers. Also, significant cost to
encrypt the e-mails and lack of awareness amongst end-users is
expected to curb market growth. However, the rising demand for
cloud-based security solutions for low cost alternatives is expected
to boost the demand for e-mail encryption software market in the near
term.
E-mail Encryption
Market: Region-wise Insight
From the global
standpoint, North America region is expected to dominate in adoption
of e-mail encryption software. The large gamut of leading IT
industries and stringent federal reforms in the countries such as the
U.S. are anticipated to play crucial role in the adoption of e-mail
encryption software. However, rising IT penetration in healthcare,
BFSI, manufacturing, and government sector, the Asia Pacific region
is expected to lead in the significant adoption of e-mail encryption
tools over the forecast period.
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Some of the key
developers and manufacturers of e-mail encryption tools includes
Symantec Corporation, Sophos Ltd., Hexamail Ltd., Entrust, Inc.,
Hewlett Packard Enterprise Development LP, Send Technology, Inc.,
Virtru Corporation, Egress Software Technologies Ltd., Firetrust
Ltd., Smarsh, Inc. and Cisco Systems, Inc.
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