Cloud-based Email Security Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Cloud-Based Email Security Market is Segmented by Deployment Model (public, Private, and Hybrid), End-User Industry (BFSI, Government, IT and Telecommunications, Retail, and Other End-User Industries), and Geography (North America [United States, Canada], Europe [Germany, UK, France, Italy, and Rest of Europe], Asia Pacific [India, China, Japan, Australia, South Korea, and Rest of Asia-Pacific], Latin America [Brazil, Mexico, Argentina and Rest of Latin America], and Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Cloud-based Email Security Market Size

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Cloud-based Email Security Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 0.96 Billion
Market Size (2029) USD 1.52 Billion
CAGR (2024 - 2029) 9.42 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Cloud-based Email Security Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Cloud-based Email Security Market Analysis

The Cloud-based Email Security Market size is estimated at USD 0.96 billion in 2024, and is expected to reach USD 1.52 billion by 2029, growing at a CAGR of 9.42% during the forecast period (2024-2029).

Cloud security software is one of the essential tools deployed by cloud service providers and users to protect the overall cloud infrastructure. Companies that rely on the Internet as a vital source of information exchange, such as e-commerce companies like Amazon, are more vulnerable to cyberattacks. Financial institutions and healthcare sectors are among the other businesses with high financial gains and lucrative targets for hackers. However, email security outsourcing has an inherent risk, as organizations must rely on and trust a third-party provider for service.

  • Cloud-based email security software helps to prevent phishing and imposter threats, and it automatically identifies an organization's profile targets for malware-free impersonation and business email compromise attacks and blocks the attack with machine learning analysis of message content.
  • According to 99 Firms, a prominent email market vendor in the global market, there were about 3.9 billion email users worldwide in 2019, which is expected to reach approximately 4.3 billion in 2023. According to the data port, 45% of emails are spam, which costs businesses about USD 20.5 billion annually. The growth of the cyber environment and related technologies paved the way for new threats. Cyberattacks are highly targeted, persistent, and technologically advanced.
  • Moreover, technical issues or financial bankruptcy may interrupt email security outsourcing. A severe email failure of security providers can lower an organization’s confidence in cloud-based security. According to IBM, 60% of emails are opened on mobile devices, depending on the industry, which increases the threat of spam mail, phishing mail, and other threats related to email. Factors such as a need for decreasing onsite datacentre footprints and cost savings, coupled with increasing incidences of spam, viruses, inappropriate content through email, and flexible deployment options, are spurring the market growth.
  • Furthermore, with the widespread adoption of cloud email services, security vendors collaborate with cloud providers to offer faster and more seamless ways of rolling out security solutions. For instance, in June 2023, Cyware, a provider of threat intelligence management and cyber fusion solutions, announced a strategic partnership with Mimecast to extend cyber fusion with advanced email security. The joint solution will provide customers with proactive defense against ransomware, phishing, malware, and other evolving cyber threats.
  • With the outbreak of COVID-19, the cloud-based email security market was expected to grow significantly as cloud-based services and tools were increasingly adopted due to organizations deploying remote work access amid lockdowns in various countries. Microsoft noticed an increase of 775% in Italy, calling and meeting monthly users for the Teams product in one month. According to data provided by Google, the company blocked about 18 million COVID-19 spamming emails daily. The increasing usage of cloud-based services during the pandemic is becoming a hotspot for cyberattacks, as millions work in unfamiliar and less secure circumstances.

Cloud-based Email Security Market Trends

Increasing use of cloud based email security in BFSI sector to drive the market.

  • The financial sector generates a massive volume of data generated by its customers. Banks and financial organizations increasingly employ services to store and analyze complex data to use the collected data through various data points and improve customer satisfaction. Additionally, with higher customer expectations, growing technological capabilities, and regulatory requirements, banking institutions are pushed to adopt a proactive approach to security. This has resulted in the incorporation of cloud-based security platforms.
  • Cybersecurity is even more important for BFSI companies, which need to ensure regulatory compliance and protect the sensitive financial information of their customers at all times. Large banks and capital markets increasingly recognize that the cloud-based security platform is more than just technology, further creating growth opportunities for the market.
  • Cloud-based email solutions can help reduce implementation time and costs for banks trying to keep pace with regulations regarding administrative access control. The data is exponentially growing, with an increase in e-transactions. Email exchanges between employees and customers in the BFSI sector contain highly lucrative, important, and valuable information and can greatly benefit hackers. Additionally, organizations in the investment banking sector that use email as their primary means of communication internally and externally have encrypted their email accounts and taken steps to limit eavesdropping and hacking.
  • To secure their IT processes and systems, secure customer critical data, and comply with government regulations, private and public banking institutions are focused on implementing the latest technology to prevent cyberattacks. Furthermore, with higher customer expectations, growing technological capabilities, and regulatory requirements, banking institutions are pushed to adopt a proactive approach to security. Cybercriminals are increasingly using a sophisticated range of tactics. Financial services firms' most expensive attack types are denial of services, phishing email attacks, and social engineering.
  • Further, Machine learning and Artificial Intelligence (AI) are expected to emerge as the most sought-after solutions, as cybercriminals are also using similar capabilities to break in. It is expected to attract more investments in strengthening security capabilities by organizations to counter and mitigate such risks.
Cloud-based Email Security Market: Business priorities in the banking industry achieved through cloud computing worldwide in 2021, by region, in Percentage

North America Accounts For the Largest Market Share

  • North America is a primary hub for all the major organizations worldwide. The expansion of the various end-user industries and the growth of IoT drive the region's demand for smart devices and mobiles. The attacks' risks can impact the market varying from individuals and government to corporates. Thus, securing the data has become a priority in the region.
  • Email is one of the most popular tools and one that businesses use every day. According to the FBI's Internet Crime Report, the compromised business email and email accounts were part of malicious phishing campaigns, costing U.S. businesses about USD 2.4 billion.
  • In addition, cyberattacks in North America, especially in the United States, are rapidly increasing. The number reached a record high, largely due to the rapid increase in the number of connected devices in the region. According to Microsoft, the United States remains the most highly targeted country, with 46% of global cyberattacks in the region.
  • The United States is marked with increased investments in cybersecurity solutions and cyber threat-detecting software and platforms. With the increased awareness amongst companies from small to large enterprises, the U.S. government is taking several initiatives to prevent cyberattacks and deploy stricter solutions to protect data and install fraud and threat detection programs. For instance, in March 2023, the U.S. government announced the release of the National Cybersecurity Strategy to ensure that all Americans enjoy the full benefits of a secure digital ecosystem.
  • Furthermore, several regional companies are focusing on offering new solutions to meet the growing demand. For instance, in November 2022, Barracuda Networks, Inc. announced it offered email security integrated with Amazon Security Lake to help customers reduce the complexity of email security data. The company's email protection solutions streamline access to customer security data through email security solutions, reduce costs, and cover a variety of security use cases such as investigation, threat detection, and incident response.
Cloud-based Email Security Market: Average cost of a data breach in the United States from 2006 to 2022(in million U.S. dollars)

Cloud-based Email Security Industry Overview

The global cloud-based email security market is consolidated due to fewer players occupying the larger market share. The new players are trying to penetrate the established market. Some key players in the market are Cisco Systems Inc., Proofpoint Inc., Trend Micro Inc., and Fortinet Inc. Some recent developments in the market include:

  • September 2023 - Proofpoint, Inc., a cybersecurity and compliance company, introduced industry-first innovations that address the top risks organizations face today—from business email compromise (BEC), the leading cause of financial loss for organizations, to ransomware and data exfiltration. The unified solutions, declared at Proofpoint Protect 2023, span the company’s Aegis Threat Protection, Identity Threat Defence, and Sigma Information Protection platforms to thwart threats across the numerous critical stages of the attack chain. 
  • May 2023 - LogRhythm announced a technology partnership with Mimecast to offer an advanced combination of email security, enterprise security, and threat management capabilities. The company will likely integrate Mimecast’s email security capabilities with LogRhythm’s enterprise threat management. Through this integration, both companies aim to help organizations around the globe protect against modern cyber-attacks.
  • April 2023 - Cisco revealed the latest progress towards its vision of the Cisco Security Cloud, a unified, AI-driven, cross-domain security platform. Cisco’s new XDR solution and the release of advanced features for Duo MFA will help organizations better protect the integrity of their entire IT ecosystem.

Cloud-based Email Security Market Leaders

  1. Cisco Systems Inc.

  2. Trend Micro Inc.

  3. Proofpoint Inc.

  4. Fortinet Inc.

  5. Broadcom Inc.

*Disclaimer: Major Players sorted in no particular order

Cloud-based Email Security Market Concentration
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Cloud-based Email Security Market News

  • July 2023 - Cybersecurity company Egress announced the launch of adaptive security for its Intelligent Email Security platform. Egress will provide dynamic and automated protection against advanced inbound and outbound threats, transforming how organizations manage human risk in email. This is the most critical innovation since Integrated Cloud Email Security was created.
  • January 2023: Cloudflare, Inc. announced introducing comprehensive email security & data protection tools to help secure organizations against phishing attacks. These solutions work with any email provider to protect employees from multi-channel phishing attacks, prevent exfiltration of sensitive data via email, and help organizations speed up and simplify developments.

Cloud-based Email Security Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Impact of COVID-19 on the Market


    1. 5.1 Market Drivers

      1. 5.1.1 Increasing Adoption of Internet-of-Things (IoT) Technology

      2. 5.1.2 Reduced Capital Expenses and Faster Deployments

      3. 5.1.3 Increasing use of cloud based email security in BFSI sector to drive the market.

    2. 5.2 Market Restraints

      1. 5.2.1 Risk of Information Loss


    1. 6.1 By Deployment Model

      1. 6.1.1 Public

      2. 6.1.2 Private

      3. 6.1.3 Hybrid

    2. 6.2 By End-user Industry

      1. 6.2.1 BFSI

      2. 6.2.2 Government

      3. 6.2.3 IT and Telecommunications

      4. 6.2.4 Retail

      5. 6.2.5 Other End-user Industries

    3. 6.3 By Geography

      1. 6.3.1 North America

        1. United States

        2. Canada

      2. 6.3.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Spain

        6. Rest of Europe

      3. 6.3.3 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. Australia

        5. South Korea

        6. Rest of APAC

      4. 6.3.4 Latin America

        1. Mexico

        2. Brazil

        3. Argentina

        4. Rest of Latin America

      5. 6.3.5 Middle East and Africa


    1. 7.1 Company Profiles

      1. 7.1.1 Cisco Systems Inc.

      2. 7.1.2 Proofpoint Inc.

      3. 7.1.3 Trend Micro Inc.

      4. 7.1.4 Fortinet Inc.

      5. 7.1.5 Broadcom Inc.

      6. 7.1.6 Forcepoint LLC

      7. 7.1.7 Mimecast Inc.

      8. 7.1.8 Sophos Group PLC

      9. 7.1.9 Dell Technologies Inc.

      10. 7.1.10 FireEye Inc.

    2. *List Not Exhaustive


**Subject to Availability
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Cloud-based Email Security Industry Segmentation

Solutions for cloud email security are created to offer complete defense against email-borne cyber threats. One of the crucial characteristics of a cloud email security system is Anti-Phishing: Phishing attempts are becoming more difficult to recognize and thwart as they become more sophisticated.

The cloud-based email security market is segmented by deployment model (public, private, and hybrid), end-user industry (BFSI, government, IT and telecommunications, retail, and other end-user industries), and geography (North America [United States, Canada], Europe [Germany, UK, France, Italy, and Rest of Europe], Asia Pacific [India, China, Japan, Australia, South Korea, and Rest of Asia-Pacific], Latin America [Brazil, Mexico, Argentina and Rest of Latin America], and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Deployment Model
By End-user Industry
IT and Telecommunications
Other End-user Industries
By Geography
North America
United States
United Kingdom
Rest of Europe
South Korea
Rest of APAC
Latin America
Rest of Latin America
Middle East and Africa
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Cloud-based Email Security Market Research FAQs

The Cloud-based Email Security Market size is expected to reach USD 0.96 billion in 2024 and grow at a CAGR of 9.42% to reach USD 1.52 billion by 2029.

In 2024, the Cloud-based Email Security Market size is expected to reach USD 0.96 billion.

Cisco Systems Inc., Trend Micro Inc., Proofpoint Inc., Fortinet Inc. and Broadcom Inc. are the major companies operating in the Cloud-based Email Security Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Cloud-based Email Security Market.

In 2023, the Cloud-based Email Security Market size was estimated at USD 0.87 billion. The report covers the Cloud-based Email Security Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cloud-based Email Security Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Cloud-based Email Security Industry Report

Statistics for the 2023 Cloud-based Email Security market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cloud-based Email Security analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Cloud-based Email Security Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)