The Email encryption market expected grow from USD 2.3 billion in 2018 to USD 5.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 20.0% during the forecast period. The increasing adoption of Bring Your Own Device (BYOD) trend among organizations, stringent regulations and need for compliance, and the introduction of cloud-based encryption solution will drive the growth of the market.

Major vendors in the email encryption market include Micro Focus (UK), Symantech (US), Cisco (US), Trend Micro (Japan), Sophos (UK), Proofpoint (US), BAE Systems (UK), Zix (US),Entrust Datacard (US), Mimecast (UK), Egress Software (UK), Intemedia (US), Virtru (US), Echoworx (Canada), Lux Sci (US), Cryptzone (US).

Recent Developments in Email encryption market are: In January 2019, Zix acquired AppRiver, a provider of cloud-based cybersecurity services, for USD 275 million. This acquisition would help Zix Corporation to boost its existing email security product portfolio. For instance, in 2018, Symantec launched an email security solution on cloud to protect email information from the ever-evolving threat landscape. In 2017, Symantec signed an agreement to acquire Fireglass, a provider of web and email security solutions. With this acquisition, Symantec would further strengthen its integrated cyber defense platform and extend its leadership in secure web gateway and email protection delivered on-premises as well as on cloud. For instance, in 2017, Trend Micro enhanced its email security suite with next-generation security capabilities. The enhanced solution provided comprehensive email security to its customers. In 2017, Trend Micro expanded its business in North America by opening an office in Texas, US, which helped the company deliver its offerings in the region and expand its customer base.

Email encryption helps in encrypting data with the use of encryption key so that the information that needs to be communicated through emails can be secured. With a steep increase in email usage for corporate as well as personal communication among individuals, sensitive information can be accessed by unidentified sources. This has encouraged businesses to adopt email encryption software to secure their data against thefts and losses. Moreover, these solutions help organizations prevent cyber-threats and attacks such as spams, malware, viruses, Business Email Compromise (BEC) attacks, zero-hour malware, and other intrusions that may expose critical enterprise information and infrastructure to risk.

There is an indispensable need for the regulatory compliances with regulatory standards such as HIPAA, PCI DSS and GDPR. The standards helps the organisations to keep their data safe and regulated with the government authorities. The possibility of attacks is reduced if these standards are met.