The cloud business email market in North America is poised to capitalise on the region’s innovative advancements and emerge as the largest regional market in terms of revenue contribution to the global market. In order to attract customers, a few organisations have begun utilising G-suite with additional AI features to provide improved conveyance of business email. The global cloud business email market is expected to reach nearly USD 2.15 billion by 2027, expanding at a CAGR of 10.4% between 2017 and 2027.
The IT industry is undergoing significant global transformation as a result of the development of cutting-edge and ground-breaking technologies that are driving the expansion of the global market. The introduction of the cloud into many aspects of business has benefited organisations in how they handle routine business tasks, such as corporate email solutions. North America’s IT industry is frequently the first to see such technological advancements, making the continent the epicentre of all inventions.
Financial institutions throughout Europe have quickly embraced hosted cloud services in recent years in order to meet shifting customer and industry demands with increased efficiency and much lower security risk.All of this is assisting the European cloud business email industry to grow in terms of revenue.
Following APEJ, Western Europe and North America will essentially be higher development markets in the global cloud business email market. While APEJ will have incremental prospects of US$ 823.2 million over the evaluation period, Western Europe will have consistent incremental prospects of US$ 498.5 million.
Key Market Study Findings
In order to attract users, the solution provider is constantly focusing on carrying out the G suite with add-on AI features to provide enhanced delivery of enterprise email. The primary challenge for the global market is illegal intrusions, rising cyber threats, and data security issues. The mainframe, UNIX, Linux, Windows, and others are all market-oriented operating systems. The growing acceptance of BYOD technology in business enterprises is a major opportunity for the global market.
Increasing Adoption of Cloud Business Email Solutions in the Face of the COVID-19 Pandemic
Nowadays, the COVID-19 crisis around the world has demonstrated that several organisations must ensure they can work from anywhere, at any time, creating a greater urgency to adopt all forms of cloud. Office-based employees have become remote workers during the COVID-19 crisis. Distracted employee web browsing and email behaviour can be exploited by cybercriminals. As a result of COVID-19, cybercriminals are also profiting from widespread discussion of the outbreak in cloud business emails and on the internet. The number of COVID-19-related spear-phishing attacks has increased steadily, increasing 67% since the end of March. Increased use of cloud business email solutions with artificial intelligence to detect malicious intent and deception in every email.
Financial Institutions are increasing their use of hosted cloud services.
Financial institutions around the world have been quick to adopt hosted cloud services across public clouds to ensure timely delivery of financial services in order to meet changing industry and customer demands with greater efficiency and ease of security concerns. This significantly contributes to the cloud business email market’s revenue growth.