The global email encryption market size is expected to 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 2018–2023. Major driving factors for the market include rise in business email compromise scams and spear phishing, growing demand for cloud-based services, and rise in awareness about compliance management.
Major email encryption vendors 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). These players have adopted various growth strategies such as new product launches and partnerships, agreements, and collaborations to enhance their presence in the global email encryption market. Partnerships and new product launches have been the most widely adopted strategies by major players from 2016 to 2018 and helped them innovate on their offerings and broaden their customer base.
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Cisco has been providing distinct products to the email encryption market. The company offers its product portfolio to various industry verticals with the help of technology integrators, resellers, and individual software vendors. It has prioritized its customers’ security; hence, its products and services aim at providing security solutions for not only protecting and safeguarding the digital economy, business interests, and customer experiences, but also creating a competitive advantage. The company’s Research & Development (R&D) center designs and develops new technologies and solutions to meet the changing technology needs of customers. In 2018, Cisco spent approximately USD 6.33 billion on R&D activities to support and enhance its competitive position in the market. The company has adopted new product launches, and partnerships and acquisitions strategies to develop advanced email security solutions. For instance, in 2015, Cisco partnered with Zix Corporation to offer enhanced email encryption solutions. In 2018, Cisco launched new email security services to protect users from fraudulent emails. Moreover, in 2018, it partnered with Google to offer new email security features to customers. Cisco invests in its channel partners to stay ahead of its competitors. These channel partners would help the company in driving customer satisfaction.
Micro Focus has become the largest pure-play software player, post its merger with HPE’s software division and NetIQ. The company’s innovative offerings make it one of the most trusted and deployed solution providers in the email encryption market. It makes investments in organic and inorganic growth strategies, depending on the evaluation of its security portfolio. It has been consistently focusing on strengthening its portfolio with the help of new product launches and product enhancements. For instance, in 2018, Micro Focus launched SecureData Sentry, an expansion of its Voltage SecureData portfolio. SecureData Sentry helped businesses protect their users’ email information and data in enterprise applications. Furthermore, the company plans to expand its presence and strengthen its market position by adopting effective partnership strategies. Its robust partner ecosystem comprises existing partners and new partners from NetIQ’s acquisition. It also has a specific partner program, partner portal, and partner community. This illustrates its focus on achieving growth and increasing its presence by following the strategy of managing its partners, which include business partners, solution partners, consulting and System Integrator (SI) partners, authorized distributors, training partners (commercial and academic), and authorized instructors.
Related Reports:
Email Encryption Market by Component (Solution and Service (Training and Education, and Support and Maintenance)), Deployment Mode (On-premises and Cloud), Organization Size, Industry Vertical, and Region - Global Forecast to 2023
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