The Network encryption market is expected to reach USD 7.02 Billion by 2028, 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 7.02 Billion by 2028, 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 2020.
The Telecom & IT end user segment accounts for the largest share of 39.3% in 2020.
Among organization size, large enterprises accounts for the larger share of 54.4% in 2020.
The optical transmission medium accounts for the largest share of 39.8% of the market in 2020.
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 2020.
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.
Segments covered in the report:

Component Outlook (Revenue, USD Million; 2020-2028)

Hardware
Platform
Services

Data Rate Outlook (Revenue, USD Million; 2020-2028)

Greater Than 10g & Less Than 40g
Greater Than 40g & Less Than 100g
Less Than 10g
Others

Transmission medium Outlook (Revenue, USD Million; 2020-2028)

Optical Transmission
Coaxial Cable
Twisted Pair Cable
Radio waves & Microwaves

Organization size Outlook (Revenue, USD Million; 2020-2028)

Small and Medium Enterprises
Large Enterprises

End user Outlook (Revenue, USD Million; 2020-2028)

Telecom & IT
BFSI
Media & Entertainment
Government
Others

On the basis of regional analysis, the market is segmented into key geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. According to the analysis, North America is expected to dominate the market with the highest market share. Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.

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Beneficial Aspects of the Report:

Global and region forecast of the Network Encryption market from 2020-2027
In-depth analysis of market dynamics, industry outlook, market size based on types and applications
Details of value chain analysis, supply and demand ratio, production and consumption patterns
SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide a better understanding of the market and competitive players
Detailed insights on competitive landscape and emerging market trends

Research Methodology:

The market report is formulated on the basis of data obtained through extensive primary and secondary research. The data is further validated and verified by industry experts, research analysts, and professionals. The report considers regional demand and supply ratio, investments, market dynamics, capacity, end-use industry trends, and consumer behavior to generate a forecast report. The data is collected from verified sources such as government policies, regulatory published materials, journals, trade magazines, and verified data sources. The report uses advanced analytical tools such as SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide an accurate insight into the market scenario and competitive landscape. This report provides beneficial information to companies and new players to make lucrative business decisions. The market estimates and forecast data have been thoroughly verified through exhaustive primary research.

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