Network Encryption Market

Market Overview:

The global network encryption market size reached US$ 4.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.0 Billion by 2028, exhibiting a growth rate (CAGR) of 8.85% during 2023-2028.

Network encryption solutions help protect the privacy and sensitive data of organizations against espionage. They ensure that the data is end-to-end encrypted while transmitting over a computer network. They can be incorporated with zero-touch encryption key management to provide robust, authenticated, and high-assurance encryption. Nowadays, companies across the globe are focusing on integrating network encryption solutions into a single platform to protect website traffic, internal networks, corporate backbone networks, and virtual private networks (VPNs).

Network Encryption Market Trends:

The growing exchange of data via different networks represents one of the key factors catalyzing the demand for network encryption solutions to protect intellectual property and sensitive business information. Moreover, data threats and cybercriminal activities cause a huge financial loss to individuals and governing agencies. As a result, public authorities are deploying these solutions to secure digital communications and network transmitted data against cyberattacks and data breaches. Apart from this, the growing trend of m-health services, the emerging use of electronic health records (EHRs), and the increasing adoption of connected devices are driving the application of network encryption solutions in the healthcare industry worldwide. This can also be attributed to the growing prevalence of chronic diseases and improving access to healthcare facilities. Network encryption solutions safeguard electronic patient information from data breaches, keep critical systems secure, and contribute to compliance with stringent governmental regulations. Furthermore, digitization of energy services and rising concerns of preventing operational data loss are positively influencing the market. In addition, the increasing energy demand, along with growing investments by governing agencies of various countries in the renewable energy infrastructure, is providing lucrative growth opportunities to players operating in the industry.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global network encryption market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on 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
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Report Coverage: