Information Technology

Rising Demand for Cloud-based Email Encryption Services to Drive Global E-Mail Security Market

Surge in spear phishing and BEC schemes, as well as the expanding number of email users across the globe, are major industry drivers. In addition to that, the global e-mail security market is likely to be driven by steadily increasing demand for cloud-based email encryption services and regulations to adhere to data protection guidelines.

Email encryption encrypts data with the utilization of an encryption key, ensuring the security of information that has to be conveyed by email. Sensitive information can be obtained by unknown parties due to a rise in email usage for corporate and personal communication amongst persons. This has prompted companies to use email encryption software to protect their data from theft and loss. Furthermore, these solutions aid in the prevention of cyber-threats and assaults such as zero-hour malware, spam, Business Email Compromise (BEC) attacks, malware, viruses, and various other attacks that might put key company data and infrastructure at risk. Such attacks are likely to drive demand in the global e-mail security market in the years to come.

Rise in Sophisticated Online Attacks and Scams to Work Well for the Global Market

Organizations have been struck hard by sophisticated cyber-attacks, such as BEC schemes and email-based phishing, throughout the years, resulting in significant financial losses. In BEC, hackers attack business email accounts, impersonating customers, workers, or partners in order to obtain financial benefits such as approving money transfers to the perpetrators’ account. Spear phishing, which is used to obtain data for nefarious reasons, is on the rise. Email encryption solutions and services are a good way to keep your email data safe. The use of spear-phishing to obtain sensitive information for nefarious purposes and the installation of malware on the device of a targeted user is on the rise. Scammers all across the globe are preying on people’s anxieties about the COVID-19 outbreak, and there has been an uptick in COVID-19-related attacks, such as BECs and spear phishing.

Enterprises are looking for cloud-based security solutions that will allow them to prevent sophisticated email threats while saving money, deploying quickly, and having on-demand access to experts. New and complex threats, such as social engineering, spear phishing, ransomware, trojans, BEC scams, spams, and malware have emerged as a result of the fast increase in IT infrastructure, putting businesses’ essential data at danger. In real-time, cloud-based email security protects enterprises from phishing attempts, ransomware, spam, spoofing, and other dangerous threats via email. Many providers in the email encryption industry provide clients with cloud-based email encryption services.

Over the years, organizations have been massively getting hit by these sophisticated cyber-attacks, such as email-based phishing and BEC scams, leading to huge financial losses. In BEC, adversaries target corporate email accounts, spoofing customers and employees or partners for financial gains such as approving payment transfers to cybercriminals’ account. Fraudulent practices such as spear phishing to steal data for malicious purposes are on the rise. The use of email encryption solution and services are an effective measure to protect email data. Spear-phishing activities to steal sensitive information for malicious purposes and installation of malware on a targeted user’s device are on the rise. Hackers all over the world are exploiting the fears around the COVID-19 pandemic; there is an increase in COVID-19-related attacks, including BECs and spear-phishing.

Enterprises are seeking cloud deployment security solutions to enable cost-effectiveness, rapid deployment, and on-demand access to expertise to mitigate advanced emails threats. The rapid growth in IT infrastructure has given rise to new and sophisticated threats, such as spear phishing, trojans, ransomware, BEC scams, social engineering, and malware and spams, which have put organizations’ critical data at risk. Cloud-based email protection helps businesses to safeguard from phishing attacks, ransomware, spam, spoofing, and malicious threats over email in real-time. There are many vendors in the email encryption market that offer cloud-based email encryption services to their clients.

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