The global E-mail encryption market has been forecast to increase at a compound annual growth rate (CAGR) of 20.3% through to 2016, driven by the increasing number of regulatory policies, and the increasing adoption of cloud-based solutions.
With increasing competition, companies are faced with the growing need to cut costs. Further, for smaller companies with limited budgets, it may not be feasible to adopt solutions that have a high initial implementation cost.
Hence, as a part of their security measures coupled with cost savings, companies are increasingly going for cloud-based email encryption solutions. Furthermore, cloud-based solutions are improving in technology and are now offering the same security features as on-premises solutions.
E-mail encryption refers to encryption, and often authentication, of email messages, to protect the content from being read by any but the intended recipients.
E-mail encryption can rely on public-key cryptography, in which users can each publish a public key that others can use to encrypt messages to them, while keeping secret a private key they can use to decrypt such messages or to digitally encrypt and sign messages they send.
As data privacy continues to become a major concern, companies are mandated to comply with different regulations. With multiple regulations in place and with punitive penalties for non-compliance, companies are forced to implement effective email encryption solutions to secure their data.
One of the major challenges currently facing the market is the availability of open source solutions. With the growing popularity of email encryption solutions, many vendors are introducing open source solutions which are available at a lower cost.
This is affecting the revenues generated by the leading providers of email encryption solutions and therefore, is affecting the overall market revenue.
Key players currently dominating the E-mail encryption market include Cisco Systems Inc., McAfee Inc., Proofpoint Inc., Symantec Corp., and Zix Corp.
For more information on the E-mail encryption market, see the latest research: E-Mail Encryption Market
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