New York, July 18, 2019 (GLOBE NEWSWIRE) -- The growth of the market is governed by various factors such as increased incidences of data breaches across various regions
The Network encryption market is expected to reach USD 5.80 Billion by 2026, according to a new report by Reports and Data. As cybercriminals become more advanced, it becomes more accessible to bypass security standards and acquire sensitive private data. While companies and customers are equally accountable for shielding themselves and accompanying most suitable practices, developers are always implementing new technologies to face the ever-evolving cyber security threats, as they’re the ones developing the methods and algorithms that keep data encrypted and secured.
This can be mainly associated with increasing technological advancement, and emergence of IoT, which are expected to further accelerate the market growth globally. Tremendous opportunity for growth awaits the market as it is an emerging technology. Continuous monitoring and identification of the threats are promoted through the application of analytical tools.
Network encryption acts as the security boundary between the communications of multiple networks. It is executed over internet protocol security (IPSec) through different algorithms, a set of open IETF (Internet Engineering Task Force) standards that are used in combination, to build a structure for private communication over IP networks. IPSec operates through network structure, which means that there is no need to alter the end users, and applications in any way. Encrypted packets seem to be identical to unencrypted packets and can be easily routed through an IP network.
North America region is forecasted to witness the highest CAGR of 9.8% during the forecast period, due to the growing digitalization rate, adoption of security solutions at a large scale and high government policies.
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Further key findings from the report suggest
- The Network encryption market is estimated to reach USD 5.80 Billion by 2026, at a CAGR of 9.4% during the forecast period.
- It is observed that there has been a constant rise in the organization's encryption policy in the past few years that is applied consistently across the whole company.
- This can be mainly associated with the rising need to shield organization’s network security, and increasing technological advancement, which is expected to further accelerate the market growth globally.
- The services segment is anticipated to grow at the highest rate of 25.3% during the forecast period.
- The Greater Than 10g & less than 40g data rate accounts for the largest share of 38.8% of the market in 2018.
- The Telecom & IT end user segment accounts for the largest share of 39.3% in 2018.
- Among organization size, large enterprises accounts for the larger share of 54.4% in 2018.
- The optical transmission medium accounts for the largest share of 39.8% of the market in 2018.
- APAC is forecasted to grow at a rate of 9.4% during the forecast period.
- Various players are working on improving the functionality of several security solutions to mitigate the advanced security threats and data breaches
- Atos developed an IP network encryption solution named Trustway IP Protect in October 2018.
- It provides the highest level of security for shielding its sensitive data against thefts.
- The Key players in the Netwrok Encryption Market include Cisco, Thales eSecurity, Gemalto, Juniper Networks, Nokia, Atos, Ciena, ADVA, Colt Technology Services, Rohde & Schwarz Cybersecurity, Huawei, TCC, F5 Networks, Stormshield, ECI Telecom, Aruba, Senetas, Raytheon, Viasat, ARRIS, Quantum, atmedia, PacketLight Networks, Securosys, Certes Networks.
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Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the Network Encryption market on the basis of Component, Data rate, Transmission medium, Organization size, End user and region:
Component Outlook (Revenue, USD Million; 2018-2026)
- Hardware
- Platform
- Services
Data Rate Outlook (Revenue, USD Million; 2018-2026)
- Greater Than 10g & Less Than 40g
- Greater Than 40g & Less Than 100g
- Less Than 10g
- Others
Transmission medium Outlook (Revenue, USD Million; 2018-2026)
- Optical Transmission
- Coaxial Cable
- Twisted Pair Cable
- Radio waves & Microwaves
Organization size Outlook (Revenue, USD Million; 2018-2026)
- Small and Medium Enterprises
- Large Enterprises
End user Outlook (Revenue, USD Million; 2018-2026)
- Telecom & IT
- BFSI
- Media & Entertainment
- Government
- Others
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Regional Outlook (Revenue, USD Billion; 2016-2026)
- North America:
- USA
- Canada
- Asia Pacific:
- India
- China
- Japan
- Rest of Asia Pacific
- Middle east and Africa
- Latin America:
- Brazil
- Europe:
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.