Global Network Encryption Market was valued at US$ 2.4Bn in 2017 and is expected to reach US$ 5.2Bn by 2026, at a CAGR of 10.15% during a forecast period.
Global Network Encryption Market
Network encryption is a wide concept which involves many tools, methods and standards. These methods ensure that the messages are unreadable when they're in the transfer between two or more network nodes. Major growth factors for the market include a growing demand to meet different regulatory compliances and a rising focus on shielding organizations from network security breaches. However, frequent changes in government policies for data protection across regions may hamper market growth.
The BFSI vertical to grow at the highest CAGR throughout the forecast period. In the digitally interconnected world, the BFSI vertical segment is vulnerable to data breaches. The BFSI vertical is continually upgrading its processing and transaction technologies and needs end-to-end security solutions to optimize operations against internal and external threats. With services, for example, smart banking, internet banking, and mobile banking, the security of payment data transmitted over the network becomes a priority for organizations in the BFSI vertical.
Traditional transmission segment is dominating the market for network encryption. Traditional transmission is further divided into Coaxial Cable, Twisted Pair Cable, and Radiowaves & Microwaves. Features of the medium used to determine the noise susceptibility and error rate during the transmission of data. Coaxial cable and twisted pair cable are the guided mediums while microwaves facilitate transmission over an unguided wireless medium.
North America, including the US and Canada, is estimated to account for the largest share of the market in 2018. The region is a primary adopter of innovative technologies. Main growth factors for the Network Encryption Market in North America include developed economies, technological enhancements, and advanced network infrastructure. North America also has a large presence of key industry players proposing network encryption components and its advanced economies allow the companies in the region to spend majorly in the leading tools and technologies for effective business operations.
Key Developments in the Market: In October 2018, Cisco did the acquisition of Duo Security, allowing the implementation of security over the cloud making the users verify their identities before aiding them access for the different devices and applications.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Network Encryption Market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Network Encryption Market.
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Scope of Global Network Encryption Market
Global Network Encryption Market, By Transmission Type
• Optical Transmission
• Traditional Transmission
o Twisted Pair Cable
o Coaxial Cable
o Radiowaves and Microwaves
Global Network Encryption Market, By Component
o Advisory Services
o Integration and Implementation Services
o Training and Support Services
o Managed Services
Global Network Encryption Market, By Data Rate
• Less Than 10g
• Greater Than 10g and Less Than 40g
• Greater Than 40g and Less Than 100g
• Greater Than 100g
Global Network Encryption Market, By Organization Size
• Small and Medium-Sized Enterprises
• Large Enterprises
Global Network Encryption Market, By Vertical
• Telecom and IT
• Banking, Financial Services, and Insurance
• Media and Entertainment
Global Network Encryption Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Network Encryption Market
• Thales Esecurity
• Juniper Networks
• Certes Networks
• Rohde & Schwarz Cybersecurity
• Colt Technology Services
• Eci Telecom
• F5 Networks
• Packetlight Networks
• Quantum Corporation
• Technical Communication Corporation
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