The latest research study “Network Encryption Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global network encryption market size reached a value of US$ 3.82 Billion in 2021. Looking forward, IMARC Group expects the market is expected to reach a value of US$ 6.45 Billion by 2027, exhibiting a CAGR of 9.00% during the forecast period (2022-2027).
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Network encryption represents the process that assists in protecting the privacy and sensitive data, including passwords, credentials, files, etc., of organizations against espionage. It can be incorporated with zero-touch encryption key management to provide authenticated and high-assurance encryption. Furthermore, network encryption ensures that the data is end-to-end encrypted while transmitting over a computer network. Consequently, it finds extensive applications across several end-user industries, such as telecom and IT, BFSI, media and entertainment, etc. Presently, numerous companies are focusing on integrating network encryption solutions into a single platform to safeguard internal networks, website traffic, corporate backbone networks, virtual private networks (VPNs), etc.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Network Encryption Market Trends and Drivers:
The increasing digitization of energy services and rising consumer concerns towards preventing operational data loss are primarily driving the network encryption market. Additionally, the growing prevalence of data threats and cybercriminal activities that have caused huge financial deficits to individuals as well as organizations is also catalyzing the market growth.
Besides this, the escalating demand for network encryption solutions to protect intellectual property and sensitive business information is acting as another significant growth-inducing factor. Moreover, the widespread adoption of electronic health records (EHRs) and the emerging trend of m-health services, owing to the improving access to healthcare facilities, are further positively influencing the global market.
Apart from this, the elevating investments by government bodies in renewable energy infrastructures are anticipated to fuel the network encryption market over the forecasted period.
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|Network Encryption Market Report Scope|
|Market size value in 2021||US$ 3.82 Billion|
|Market forecast in 2027||US$ 6.45 Billion|
|Growth Rate||CAGR of 9.00% from 2022 to 2027|
|Base year for estimation||2021|
Global Network Encryption Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
The report has segmented the market on the basis of region, component, deployment mode, organization size and end use industry.
Breakup by Component:
- Solutions and Services
Breakup by Deployment Mode:
Market Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by End Use Industry:
- Telecom and IT
- Media and Entertainment
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
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Read Also: Graph Database Market Size, Industry Share and Global Forecast to 2022-2027
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