The network encryption market was valued at $4.2 billion globally, and a compound annual growth rate (CAGR) of 8.9% is anticipated over the course of the projected year. The industry is expanding at a substantial rate because to growing concerns about data security, integrity, and confidentiality. One of an organization's main priorities is information security. Any organization in the world now prioritizes data security.

The rise of cloud services, the proliferation of IoT devices, regulatory restrictions, growing worries about cyber security, and the volume of sensitive data being transferred across networks are the main factors driving the growth of network encryption. Its ongoing expansion has been facilitated by developments in encryption technology and increased awareness of privacy concerns.

 

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Growth Drivers

The significance of cryptography in any organization is becoming more widely recognized as data security has grown to be a top global concern. Strong encryption solutions are in greater demand as a result of growing cybersecurity risks and data breaches, which have increased attention to protecting sensitive data while it is being transmitted. Data integrity and authentication are crucial for any firm to succeed. The need for data encryption has grown as a result of the remote work culture.

Network encryption solutions are being deployed at a rapid pace as a result of the growing demand for secure data transfer brought about by the increasing usage of cloud services. In order to ensure data transfer among networked devices, encryption technologies are required due to the expansion of IoT devices, which demands secure communication pathways. Globally, stricter data protection laws are forcing businesses to use encryption to stay in compliance, which is fueling market expansion.

Segmentation

Deployment Type

·         Cloud

·         On-Premise

By Components

·         Hardware

·         Solutions

·         Services

By Organization Size

·         Small and Medium Sized

·         Large Sized Enterprise

End-User Industry

·         Telecom and IT

·         BFSI

·         Government

·         Media

·         Entertainment

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Key Players

·         Atos

·         Cisco System

·         Nokia

·         Juniper Networks INC

·         Rohde and Schwarz

·         Thales

·         Huawei Technologies co. ltd.

·         Raytheon technologies corporation

·         Viasat INC.

·         atimedia GmbH Saarbucken

·         F5 Networks

·         Colt technology

·         Other Players

 

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