Email Security Market Analysis by Deployment, Organization Size, Vertical | Increasing Cyber Attacks to Induce Higher Demand for Email Security Services

Email Security Market
Email Security Market is Expected to Reach Approximately USD 18 Billion by 2023 growing at 22% CAGR during forecast period.

Email Security Market, By Deployment (Hosted Email Security, Managed Email Security), By Organization Size (Large Enterprise, Small & Medium Enterprises), By Vertical (Travel & Transport, IT & Telecommunication, Entertainment & Media   ) – Global Forecast 2023

 

Market Synopsis:

The advent in technology and high penetration of internet connectivity all over the world has led to the paradigm shift towards electronic mails over traditional mailing services. Securing these emails from spams, virus, cyber-attacks, denial of services and other malware has become the necessity on organizational as well as individual level. As per the report that has been published by Market Research Future (MRFR), the global email security market is anticipated to project remarkable expansion during the coming years.

 

Some of the major players of the global email security market are Cisco Systems, Inc. (U.S.), Dell Inc. (U.S.), Fortinet (U.S.), Mcafee, Inc. (U.S.), Symantec Corporation (U.S.), (U.S.), Apptix (U.S.), Microsoft Corporation (U.S.), Mimecast (U.K.), SAP SE (Germany) among others.

 

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Market Drivers and Restraints:

Email is the leading threat vector for data theft, phishing and ransomware. The increasing demand for integrated security suites owing to the high penetration of cloud-based services that are prone to cyber-attacks is majorly driving the global email security market. The need for collective measures to secure the access and content of emails in an organization or by individuals is skyrocketing due to the rise in sophistication of the malware, spams and phishing attacks, leading to the expansion of the global email security market.

 

The rapid penetration of advanced technology and availability of internet connectivity have proliferated the email service consumers, resulting in the increased demand for email security services in the global market. The key features of email security services such as threat intelligence, detection, research and remedy services are inducing demand for adoption of email security services. The increasing security breaches have led to the emergence of risk management services in various organizations, which is impacting positively on the expansion of the global email security market.

 

However intense competition in the market, availability of unskilled local players, lack of awareness among the consumers, and increased vulnerability due to BYOD policies are likely to act as a restraint on the growth of the global email security market during the coming years.

 

Competitive Analysis:

The players in the global email security market are focusing on the expansion of their businesses through strategic mergers and acquisitions. The increasing penetration of local service providers in the email security market is strengthening the competition in the global market. Hence, the prominent players are increasing the research and development expenditure in order to provide advanced solutions to the consumers in the global Email Security Market.

 

In January 2018, Barracuda Networks, Inc. has acquired PhishLine, LLC, a leading SaaS platform for social engineering simulation and training. Thie main focus of this acquisition is to enhance the company’s email security product portfolio through the combination of Barracuda’s AI-driven protection against phishing and spear phishing and PhishLine’s platform.

 

In July 2018, Connectivity Global, a Singapore-based firm, has announced the launch of a new product, an AI-based email security system for the Asian market. The firm claims that this system can ward off phishing attacks, spams and malware.

 

Market Segmentation:

The global email security market has been segmented on the basis of deployment, organization size and vertical. Based on deployment, the email security market is segmented into on-premise email security, hosted email security and managed email security. Based on organization size, the email security market is segmented into small and medium enterprise, and large enterprise. Based on verticals, the email security market is segmented into retail, entertainment and media, travel and transport, BSFI, IT and telecommunication, Government, healthcare, manufacturing, oil and gas, and others.

 

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Detailed Regional Analysis:

The global email security market has been segmented into four major regions such as North America, Europe, Asia Pacific, and the rest of the world. Among these, The North America region accounts for the largest market share in the global email security market owing to the increased security threats affecting the data integrity in various organizations in this region. The Asia Pacific region is projecting fastest growth in the global email security market due to the rapid development in technology and shift towards digitization of internal processes in government and non-government organizations in this region. The email security market in the Europe region is anticipated to project slow growth in the coming years due to the declining adoption of email security services in this region.

 

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