According to Reports and Data, the global network encryption market will increase from USD 3.43 billion in 2020 to USD 7.02 billion in 2028, expanding at a rate of 9.4%. This is mostly due to the growing requirement to protect an organization’s network security and the improvement of technology, which is predicted to further accelerate market expansion on a global scale.
Large enterprises are the early adopters of network encryption solutions, as they need to secure large volumes of data gathered from multiple application areas, including sales, marketing, HR, and operations within the organization.
Due to the massive amounts of content generated by enterprise apps every second to gain a competitive advantage, large businesses across all industries are leading the way in implementing network encryption solutions. Large businesses can stop illegal access to crucial data by deploying network encryption technologies. Enterprises spend a significant amount of Capital Expenditure (CAPEX) to update their outdated IT infrastructure to keep up with shifting business and management trends. Additionally, businesses are spending money on security measures because any improper use of their data could damage their reputation.
Further key findings from the report suggest
Market Size Estimation:
One of the main drivers of the demand for network encryption solutions to safeguard critical company data and intellectual property is the increasing exchange of data via various networks.
Additionally, cybercrime and data threats cost people and government organizations a lot of money. To protect network-transmitted data and digital communications against cyberattacks and data breaches, public agencies are implementing these technologies.
In addition to this, the use of network encryption solutions in the global healthcare industry is being driven by the expanding trend of m-health services, the burgeoning use of electronic health records (EHRs), and the growing acceptance of linked devices. This is also related to the rising incidence of chronic illnesses and the easier accessibility to medical facilities. options for network encryption.
Component Outlook (Revenue, USD Million; 2020-2028)
Data Rate Outlook (Revenue, USD Million; 2020-2028)
- Greater Than 10g & Less Than 40g
- Greater Than 40g & Less Than 100g
- Less Than 10g
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
- Media & Entertainment
Regional Outlook (Revenue, USD Billion; 2020-2028)
- North America
- the UK
- the Asia Pacific
- Latin America
- the Middle East and Africa