Cloud-based Email Security Market Size

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.