Optical encryption is a means of securing in-flight data and is carried over the optical waves across the fibre optic cables. Owing to rising concerns towards privacy for data security and high demand for data centre deployments coupled with the rising cases of cyber frauds, the optical encryption market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by encryption layer into OTN/layer 1, MACsec/layer 2, and IPsec/layer3, out of which, the IPsec/layer3 segment is anticipated to hold the leading share in the optical encryption market. This can be attributed to utilization of IPsec/layer 3 widely in enterprises and government networks along with the provision of continuous security to several networks and transport layers.
Research Nester released a report titled “Optical Encryption Market: Global Demand Analysis & Opportunity Outlook 2028″which delivers detailed overview of the global optical encryption market in terms of market segmentation by encryption layer, data rate, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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Based on the regional analysis, the optical encryption market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is predicted to hold the largest share on account of large-scale adoption of cloud-based applications by various network operators and enterprises along with the rising incidents of cyber-attacks in this region, as well as for the presence of leading market players.
Increasing Data Security Concerns Over Rising Cyber Attacks To Boost The Market Growth
Almost four in ten of all UK businesses have suffered at least one breach or cyberattack every 12 months, as per the data released by UK government.
There is an increasing demand of optical encryption by several enterprises on account of its ability in protecting in-flight data, cyber-attack threats and security against network intrusions. Additionally, increasing communications between data centres and penetration of cloud services as well as growing demand for regulatory compliance are some of the factors anticipated to significantly expand the global optical encryption market.
However, lack of proper network infrastructure and network-oriented approach along with the high network complexity is estimated to hamper the market growth.
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This report also provides the existing competitive scenario of some of the key players of the global optical encryption market which includes company profiling of Ciena Corporation (NYSE:CIEN), Cisco (NASDAQ:CSCO), Huawei Technologies Co., Ltd., Microsemi (NASDAQ: MCHP), Infinera Corporation (NASDAQ:INFN), Arista Networks, Inc. (NYSE:ANET), Acacia Communications, Inc. (NASDAQ:ACIA), ADVA Optical Networking (FSE:ADV), Nokia and ECI Telecom. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global optical encryption market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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