Top Benefits that Help in Boosting the Growth of the Email Encryption Market
Email’s portability, flexibility, and dependability have all significantly improved over the years, as has its reliability. The rise in the number of email users around the world has resulted in a significant increase in the number of hazards associated with emails, such as phishing, data breaches, and other similar issues. The phrase “necessity is the mother of invention” is true. Because of the increasing frequency of such incidents, email encryption services and solutions have been developed to combat them. It gained widespread acceptance in a short period of time. The increasing demand for email encryption services from a growing number of individuals will create enormous growth prospects.
In email encryption, the information contained in the email is converted into a form that cannot be read by the recipient. External parties will not be able to see the content of an email once it has been encrypted and signed. As soon as the private email key is used to unlock the message, the content is reversed back to its decrypted state. The ease of use and benefits associated with these services will show to be excellent growth generators for the email encryption market in the future.
According to the researchers at Transparency Market Research (TMR), the email encryption market is predicted to grow at a strong compound annual growth rate (CAGR) of approximately 25 percent over the forecast period of 2020-2030. The various benefits of the services will help to propel the email encryption market forward at an accelerated pace.
Growing demand for email encryption services can be attributed to a variety of factors, including the following. Many businesses and organisations are turning to these services in order to prevent data leaks from occurring. The growing recognition of the necessity of data protection among a varied range of businesses and organisations will open up a plethora of new business options.
Here are some of the most significant advantages that contribute to the increased growth rate of the email encryption market.
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Privacy and Security of Confidential Information
Email encryption protects sensitive information such as social security numbers, credit card numbers, official information, and other personal information. Some hackers may make use of this information for their own purposes in the future. Email encryption becomes important in order to protect against such risks.
Affordably priced and technologically advanced
It is no longer necessary to purchase additional equipment when an email service is already encrypted and integrated into the server’s architecture. It is possible to integrate a trustworthy email encryption service provider’s server, which makes it more inexpensive. This element will contribute to the expansion of the email encryption market’s growth opportunities. Furthermore, the incorporation of additional features at no additional expense encourages exponential growth in the long run.
Spam is no longer an issue.
A recipient can see the digital signature on an encrypted message sent by an individual, allowing them to authenticate the sender’s identity. A spoof email does not have a signature, as is the case with legitimate emails. As a result, the usage of email encryption helps to reduce the amount of spam that is received.
It saves you time.
The use of email encryption allows for the risk-free transmission of messages without the need for any additional security measures to be taken. Emails had previously been programmed with a huge number of codes before being sent in order to communicate private information. Email encryption services include an in-built encryption technique, which saves a significant amount of time for users. It is anticipated that this advantage will contribute to increased demand for email encryption services.
It assists in remaining compliant and user-friendly.
Several governments, including those of the United States, have made encryption necessary in particular industries, such as healthcare. It has been legislated by the Criminal Justice Information Services (CJIS) that any sensitive data stored in a secure location must be encrypted before being sent. The Health Insurance Portability and Accountability Act (HIPAA) also makes it mandatory to protect patient health information transmitted over email by requiring that the information be encrypted before transmission. All of these considerations point to the rise of the email encryption market in the next years.
A data breach is something that no company, large or small, wants to be a victim of. Email encryption is extremely important in maintaining the security of sensitive information. Additional encryption services and features are being provided by the companies in addition to email encryption, which bodes well for the future growth of the email encryption market.