Network Encryption Market: Current Analysis and Forecast (2022-2028)

Network Encryption Market: Current Analysis and Forecast (2022-2028)

Network encryption is a technique of encrypting or coding data and messages that are transmitted or communicated via a computer network. Network encryption is primarily implemented on the network layer of the OSI model, to encrypt the data, message, or packet sent over the network, network encryption incorporates one or more encryption techniques, methods, and standards. The encryption services are typically offered by encryption software, embedded encryption algorithms in software, or network devices.

The Network Encryption Market is expected to grow at a steady rate of around 9% owing to the growing use of the internet resulting in an increased risk of data breaches across the globe. The growing adoption of network encryption can be attributed to the growth of various compliance and regulations around the globe related to data security. Moreover, the rise in the demand for adopting cloud technology is also expected to significantly influence the market growth during the analysis time period. For instance, according to Zippia, in 2020, 94% of enterprises around the world use cloud services in some form. The public cloud has many users which put consumers in a very vulnerable spot for data breaches and cyber-attacks. Furthermore, technological advancements such as the internet of things in multiple software and hardware application are expected to create significant opportunities for the market.

  • Based on component, the market is segmented into hardware, platform, and services. The hardware segment is expected to witness a higher CAGR during the forecast period. Features such as high speed, robust security, and low latency among other network encryption hardware are driving the segment growth during the forecast period. Moreover, the growing technological advancement and growing prominence of consumer electronics are expected to drive the market during the forecast period. For instance, according to bankmycell, there are around 6.37 billion active smartphones in the world in 2021.
  • Based on organization size, the network encryption market has been classified into large enterprises and SMEs. The large enterprise is to witness higher adoption in 2020 and is expected to maintain its domination throughout the forecast period. As large organizations are the early users of the network encryption solution because they must protect vast amounts of data created by numerous application areas, including sales, marketing, HR, and internal operations. Moreover, due to the massive amounts of content generated by enterprise applications every second to gain a competitive advantage, large businesses across all industries are leading the way in implementing network encryption solutions.
  • Based on verticals, the network encryption market has been classified into telecom and IT, BFSI, media and entertainment, government, and others. The telecom and IT segment is anticipated to witness higher adoption during the forecast period. Network encryption tools are being used by telecom and IT service providers to protect sensitive data. For instance, in November 2022, Vodafone partnered with IBM on quantum safe cyber security. Moreover, the rising prevalence of online fraud is also expected to surge the market growth during the forecast period.
  • For a better understanding of the market adoption of the network encryption industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America led the network encryption market in 2021 with the highest market share and is expected to maintain the same throughout the forecast period. The growing adoption in the region is mainly attributed to the growing cases on data breaches. For instance, according to Surf Shark, the United States experienced more than 200 million data breaches in the year 2021. Moreover, the governments in the region offer appropriate platforms for startups and SMEs, in terms of government regulations and compliances. Hence, enterprises are growing rapidly and have a massive demand for network encryption. These factors are expected to drive the market during the analysis time period.
  • Some of the major players operating in the market include Thales TCT, ATMedia Gmbh, Atos SE, Juniper Networks Inc, Certes Networks Inc, Senetas Corporation Ltd, Viasat Inc, Raytheon Technologies Corporation, Securosys SA, and Huawei Technologies Co., Ltd..


1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Main Objective
1.3. Stakeholders
1.4. Limitation
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Process of the Network Encryption Market
2.2. Research Methodology of the Network Encryption Market
2.3. Respondent Profile
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 IMPACT OF COVID-19 ON THE NETWORK ENCRYPTION MARKET
6 NETWORK ENCRYPTION MARKET REVENUE, 2020-2028F
7 MARKET INSIGHTS BY COMPONENT
7.1. Hardware
7.2. Software
7.3. Services
8 MARKET INSIGHTS BY ORGANIZATION SIZE
8.1. Large Enterprises
8.2. Small and Medium Enterprises
9 MARKET INSIGHTS BY VERTICAL
9.1. Telecom and IT
9.2. BFSI
9.3. media and entertainment
9.4. Government
9.5. Others
10 MARKET INSIGHTS BY REGION
10.1. North America
10.1.1. U.S.
10.1.2. Canada
10.1.3. Rest of North America
10.2. Europe
10.2.1. Germany
10.2.2. U.K.
10.2.3. France
10.2.4. Italy
10.2.5. Spain
10.2.6. Rest of Europe
10.3. Asia-Pacific
10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. Rest of Asia-Pacific
10.4. Rest of World
11 NETWORK ENCRYPTION MARKET DYNAMICS
11.1. Market Drivers
11.2. Market Challenges
11.3. Impact Analysis
12 NETWORK ENCRYPTION MARKET OPPORTUNITIES
13 NETWORK ENCRYPTION MARKET TRENDS
14 DEMAND AND SUPPLY-SIDE ANALYSIS
14.1. Demand Side Analysis
14.2. Supply Side Analysis
15 VALUE CHAIN ANALYSIS
16 COMPETITIVE SCENARIO
16.1. Competitive Landscape
16.1.1. Porters Five Forces Analysis
17 COMPANY PROFILED
17.1. Thales TCT
17.2. ATMedia Gmbh
17.3. Atos SE
17.4. Juniper Networks Inc
17.5. CERTES NETWORKS INC
17.6. Senetas Corporation Limited
17.7. Viasat Inc
17.8. Raytheon Technologies Corporation
17.9. Securosys SA.
17.10. Huawei Technologies Co., Ltd
18 DISCLAIMER

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