Network Encryption Market Size 2022 | Industry Share and Global Trends 2027
The global network encryption market size reached US$ 3.82 Billion in 2021. By 2027, it will reach a value of US$ 6.45 Billion, growing at 9.00% (2022-2027).
SHERIDAN, WYOMING, USA, April 21, 2023 /EINPresswire.com/ — Network encryption is a process of offering end-to-end, safe connectivity for encoding sensitive data, including credentials, files, and passwords, which are transmitted through a computer network. They are employed as a protective barrier for communication between multiple networks and are used by numerous organizations to secure their virtual private networks (VPNs), internet traffic, internal networks, and corporate backbone networks through network-level encryption. They are also incorporated with zero-touch encryption key management to offer authenticated, robust, and high-assurance encryption. Nowadays, network encryption is widely adopted in banking, financial services and insurance (BFSI), information and technology (IT), media and entertainment, and telecommunication sectors.
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Network Encryption Market Trends and Drivers:
The market is primarily driven by the increasing incidences of network security breaches, data threats, and cybercriminal activities. Moreover, the surging need to comply with ever-changing regulatory standards for enhanced data protection has escalated the deployment of network encryption solutions across the globe.
In addition, the widespread adoption of network encryption solutions to secure digital communications, network transmitted data, and protect sensitive business information and intellectual property is contributing to the market growth. Moreover, various technological advancements, such as the incorporation of cloud technologies and the Internet of Things (IoT) in multiple hardware and software applications, represent another major growth-inducing factor.
Furthermore, the widespread product adoption in the healthcare industries due to the growing inclination toward m-health services and the popularity of electronic health records (EHRs) for improving access to healthcare facilities is providing a positive thrust to the market growth.
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Global Network Encryption Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Atos SE, Ciena Corporation, Cisco Systems Inc., Colt Technology Services Group Limited, F5 Networks Inc., International Business Machines Corporation, Juniper Networks Inc., Nokia Corporation, PacketLight Networks Ltd., Raytheon Technologies Corporation, Rohde & Schwarz GmbH & Co KG, Securosys SA, Senetas Corporation Limited, Thales Group and Viasat Inc.
The report has segmented the market on the basis of region, component, deployment mode, organization size and end use industry.
Breakup by Component:
• Hardware
• Solutions and Services
Breakup by Deployment Mode:
• Cloud-based
• On-premises
Breakup by Organization Size:
• Small and Medium-sized Enterprises
• Large Enterprises
Breakup by End Use Industry:
• Telecom and IT
• BFSI
• Government
• Media and Entertainment
• Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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