According to Data Bridge Market Research new Market report, global network encryption market accounted to USD 2.91 billion in 2018 growing at a CAGR of 9.55 % during the forecast period of 2019 to 2026.
Global Network Encryption Market
Network encryption can be defined as a process of encoding the message or the data which is being sent or transmitted to the other network. Multiple standards, tools & techniques are being used in the process of encryption of the data from the point of sending to the point where the encoded message is being sent. This process ensures that the data or message which is being transferred is unreadable or cannot be decoded easily while transmission are undergoing between two or more nodes of network.
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Global network encryption market is segmented on the basis of transmission type, component, data rate, organization size, vertical and geography.
By Transmission Type (Optical Transmission, Traditional Transmission), Component (Hardware, Platform, Services), Data Rate (Less Than 10g, Greater Than 10g and Less Than 40g, Greater Than 40g and Less Than 100g, Greater Than 100g), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Vertical (Telecom and IT, Banking, Financial Services and Insurance, Media and Entertainment, Government, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
FACTORS DRIVING GROWTH IN NETWORK ENCRYPTION MARKET
Rising number of data breach which lead to expose of important information
The cases or attempt to breach the data has been increasing year by year across the globe. The need for secured process of information or data transferring has been increased. If we say about US region particularly, the annual number of record expose & data breach was nearly 419 million in 2011 which has been increased up to 1579 million in year 2017. The increment is nearly 380%. This lead to the increase in the demand for network encryption market so that the number of data breach can be reduced & the information can be passed through a secured way.
Few of the major competitors currently working in network encryption market are 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., ADVA Optical Networking, Colt Technology Services Group Limited, Huawei Technologies Co. Ltd, Cisco, Juniper Networks Inc., Gemalto NV, Nokia, Thales eSecurity, Atos SE and Ciena Corporation.
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Global Network Encryption Market – Industry Trends and Forecast to 2026