Email Encryption Market: By Type (End-To-End Email Encryption, Gateway Email Encryption, Boundary Email Encryption, Hybrid Email Encryption and Client Plugins), By Component (Solution and Services), By Deployment Mode (Cloud and On-Premises), By Organization Size (Large Enterprises and Small & Medium-Sized Enterprises), By End User (Government and Defense, Healthcare, Banking, Financial Services and Insurance, IT and Telecom, Manufacturing, Retail, Energy and Utilities and Others)  and Geography

Email Encryption Market size was valued USD 3.5 billion in 2022 and is poised to grow at a CAGR of 23.4% from 2023-2029. Some of the key factors influencing the market growth include increasing adoption of technology in the government and defense sector, rise in business email compromise scams and spear phishing, growing demand for cloud-based services, advancements in mobile technology in terms of hardware and software, growing penetration of mobile devices across organizations and government stringent policies. However, high costs of email encryption systems, intense competition and presence of numerous unskilled local players are major factors inhibiting the market growth. Email encryption encrypts data with the use of an encryption key, ensuring the security of information that must be conveyed by email. Sensitive information can be obtained by unidentified parties due to a rise in email usage for corporate as well as personal contact among individuals. This has prompted companies to use email encryption software to protect their data from theft and loss. Furthermore, these solutions aid in the prevention of cyber-threats and attacks such as spam, malware, viruses, Business Email Compromise (BEC) attacks, zero-hour malware, and other incursions that may compromise vital company data and infrastructure.