Email Security Market Size

Email Security Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The market for email security is valued at $68.2 million in 2023 and is expected to reach $11.3 billion by 2023, at a CAGR of 13.1% from 2020 to 2023. This growth trend is mainly due to the growing importance of email security solutions for organizations in the face of the increasing threat of cyber attacks, phishing and data breaches. The increasing use of cloud services and the growing importance of email for business communications are also major factors driving the growth of the market. Artificial intelligence and machine learning are also contributing to the improvement of the capabilities of email security solutions, enabling them to detect and prevent threats more effectively. Moreover, market leaders such as Mimecast, Proofpoint and Cisco are investing in new products and technological innovations to enhance their offerings. For example, recent products that integrate advanced threat intelligence and automatic response mechanisms have set new standards for the industry and are driving the demand for comprehensive email security solutions.

Regional Market Size

Regional Deep Dive

The email security market is experiencing significant growth in all regions, owing to the increasing cyber threats and the need for robust security solutions. In North America, the market is characterized by a high rate of adoption of advanced technology and strict regulatory requirements, which compel organizations to invest in comprehensive email security solutions. In Europe, the demand is surging, owing to the implementation of the General Data Protection Regulation (GDPR), which mandates stringent data security measures. In the Asia-Pacific region, the market is developing rapidly, as the increasing cybercrime has forced SMEs to recognize the importance of email security. In the Middle East and Africa, the market is characterized by a growing trend of investment in the development of security infrastructure. In Latin America, the market is gradually gaining momentum, as the awareness of the cyber threats is rising.

North America

• There is an increasing emphasis on the security of emails as a result of the growth of remote working, with Proofpoint and Mimecast enhancing their offerings to respond to new threats.
• A new Californian law, the “Consumer Data Privacy Act”, has forced companies to take new measures to protect customer data.
• The major technology companies, including Microsoft and Google, are investing heavily in the development of artificial intelligence-based email security solutions, which are expected to change the face of email security.

Europe

• The advent of the General Data Protection Regulation has had a significant impact on the e-mail security market, making companies put compliance first and enabling them to invest in secure email gateways.
• In recent years, the development of encryption of e-mails has been led by such companies as Egress and Zix. These companies have been working on a new way of protecting the data in e-mails.
• In the framework of the European Union, the new e-security law is aimed at improving the security of email, which should lead to a more uniform approach to cyber security.

Asia-Pacific

• The speed of digitalization in countries such as India and China has led to a rapid rise in the need for e-mail security. There are many local startups that have sprung up to meet the needs of local users.
• Government initiatives, such as the Australian Government’s Cyber Security Strategy, are helping to raise awareness and investment in email security among businesses.
• The increasing number of phishing attacks has resulted in a surge in demand for security solutions from companies like TrendMicro and Fortinet.

MEA

• IT security has been the subject of increasing interest in the United Arab Emirates, as the country's National Strategy for Information Security has led to a significant increase in the use of advanced email security measures and solutions.
• Then there are local companies such as DarkMatter which have developed special email security solutions for the region.
• IT managers are increasingly aware of the dangers of cyber-attacks. This has led to a growing demand for training and education in the field of email security.

Latin America

• Brazil and Mexico have seen a rise in cybercrime, which has prompted companies to invest in e-mail security to protect their sensitive data.
• Local companies are forming new alliances with international security companies, which are introducing advanced email security to the region.
• The development of digital security is a key priority for the government. Its initiatives to improve the digital security of the country are expected to boost the adoption of email security solutions across various sectors.

Did You Know?

“OVER HALF of all attacks on the Internet start with an email, so it is important to have strong email security solutions.” — Verizon's 2023 Data Breach Investigations Report

Segmental Market Size

The email security market is currently experiencing high growth, driven by the increasing number of cyber attacks and the need for companies to protect sensitive information. The rise in phishing attacks, which have increased in line with the remote working trend, and the stricter regulations such as GDPR and HIPAA that require data protection, have also fueled demand. These drivers are pushing companies to invest in more advanced email security solutions to protect their communications and ensure compliance with regulations.

The email security industry is now in its mature phase, with Proofpoint and Mimecast providing the most complete security solutions. Detection of threats, filtering of unwanted emails and the prevention of data leaks are the main areas of application, especially in the banking and health industries, where the sensitivity of data is of the utmost importance. The increasing reliance on cloud-based services and the growing need for resilience against cyber-attacks are accelerating the market's growth. The evolution of the industry is driven by the development of artificial intelligence-based threat intelligence and machine learning, which will enable the implementation of more pro-active and intelligent security measures.

Future Outlook

The global email security market is expected to reach $11.3 billion by the end of the forecast period, 2023 to 2025, with a CAGR of 13.1% from 2017 to 2025. This growth is driven by the growing frequency and complexity of cyber attacks, which are using emails as a main attack tool. In response, organizations are increasingly recognizing the need for advanced email security solutions. It is expected that by 2025, nearly 70% of companies will adopt comprehensive email security solutions, up from about 45% in 2023. This trend is a result of the growing awareness of the need to protect sensitive information and comply with regulations.

Artificial intelligence and machine learning are expected to play a major role in the future of email security. These two techniques will enhance the capabilities of threat detection and help organizations proactively identify and mitigate risks before they escalate. Moreover, the introduction of strict data protection regulations, such as the General Data Protection Regulation (GDPR) and the Californian Data Protection Act (CCPA), will lead to a greater demand for email security solutions. The growing trend of remote working and the increasing use of cloud-based email services will also increase the need for security, as companies seek to protect their digital communications in a decentralized environment. The email security market will therefore evolve at a rapid pace, driven by technological innovation and the urgent need to improve cyber security.