Global network encryption market is expected to rise from its initial estimated value of USD 2.91 million in 2018 to an estimated value of USD 6.03 million by 2026, registering a CAGR of 9.55% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing security concerns and high levels of network security breaches.
Network Encryption Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of network encryption market for global, Europe, North America, Asia Pacific and South America.
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Network encryption can be defined as the protective/security barrier between the communications of various networks/computer models. It is implemented over the internet protocol security and a number of varying algorithms, and standards are applied over the message that is sent through the network.
Major Market Competitors/Players: Global Network Encryption Market
Few of the major competitors currently working in the network encryption market are Cisco, Juniper Networks Inc., Gemalto NV, Nokia, Thales eSecurity, Atos SE, Ciena Corporation, ROHDE&SCHWARZ, ADVA Optical Networking, Colt Technology Services Group Limited, Huawei Technologies Co. Ltd., Hewlett Packard Enterprise Development LP, F5 Networks Inc., ECI TELECOM, Senetas, Viasat Inc., Raytheon Company, Quantum Corporation, Technical Communications Corporation, ARRIS International plc, atmedia GmbH, Securosys SA, PacketLight Networks, and Certes Networks Inc.
Segmentation: Global Network Encryption Market
- By Transmission Type (Optical Transmission, Traditional Transmission)
- By Component (Hardware, Platform, Services)
- By Data Rate (<10G, >10G & <40G, >40G & <100G, >100G)
- By Organization Size (Small & Medium-Sized Enterprises, Large Enterprises)
- By Vertical (Telecom & IT, BFSI, Media & Entertainment, Government, Others)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
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- Increasing concerns related to hacking and security breaches over the network, is expected to drive the market growth
- Rising number of stringent regulations and the need for complying with these standards regarding network encryption is also expected to drive the market growth
- Varying and fluctuation regulations associated with the different regions is also expected to restrain the market growth
- High cost in implementation and integration of network encryption is also expected to restrain the market growth
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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