The mobility, flexibility, and reliability of emails have increased extensively over the years. With an increase in the number of email users around the world, the threats related to emails such as phishing, data breaches, and others have increased considerably. Necessity is the mother of invention. The growing prevalence of such cases led to the invention of email encryption services and solutions. It emerged in popularity in no time. The rising demand for email encryption services from many individuals will bring tremendous growth opportunities.
Email encryption is a method of converting the information in the email in an encrypted form. Once the content of the email is encrypted, it will not be readable to outsiders. The content is reversed back to its decrypted form once it is unlocked with the private email key. The convenience and advantages attached to these services will prove to be good growth generators for the email encryption market.
According to the analysts at Transparency Market Research (TMR), the email encryption market is expected to expand at a healthy CAGR of ~25 percent across the assessment period of 2020-2030. The extensive benefits of the services will add extra stars of growth to the email encryption market.
A wide range of advantages is responsible for the rising demand for email encryption services. Many companies and organizations are choosing these services for preventing data leakage. The heightening awareness among diverse companies and firms regarding the importance of data protection will bring immense growth opportunities.
Here are some major benefits that help in increasing the growth rate of the email encryption market.
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Protection of Confidential Information
Email encryption provides the protection of confidential information such as social security numbers, credit card numbers, official information, etc. Some hackers may make use of this information for ulterior motives. To prevent such hazards, email encryption becomes necessary.
Affordable and Advanced
When an email service is already encryption-integrated in the server, the need for purchasing additional equipment becomes null. A trusted email encryption service provider enables server integration that makes it affordable. This factor will help in boosting the growth prospects of the email encryption market. Furthermore, the integration of additional features without any extra cost invites exponential growth.
When an individual sends encrypted mail, the receiver can see the digital signature on the mail to verify the sender. Spoofed emails do not contain the signature. Hence, the use of email encryption assists in eliminating spam mail.
The utilization of email encryption enables risk-free sending of the mails without any additional requirement of protection. Earlier, for sending confidential information, mails had to be programmed with a large set of codes and then sent. Email encryption services have an inbuilt encryption mechanism which helps in saving a lot of time. This advantage will help in increasing the demand for email encryption services.
Helps in Staying Compliant-Friendly
The government bodies of numerous countries have made encryption mandatory for certain sectors like healthcare. Criminal Justice Information Services (CJIS) has mandated that any sensitive data in a secure location has to be encrypted before sending. The Health Insurance Portability and Accountability Act (HIPAA) also make the protection of patient health information through email information compulsory through email encryption. All these factors bode well for the growth of the email encryption market.
No companies, whether big or small want to be victims of a data breach. Email encryption plays a gigantic role in keeping the information secure. Along with email encryption, the players also provide additional encryption services and features, which further bring promising growth for the email encryption market.
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