An increase in cyber-attacks, growth in data safety & security concerns, as well as increase in investments for smart city projects by various governments, are the major factors that drive the growth of the optical encryption market.
In addition, an increase in the penetration of the internet, data traffic, and numerous benefits provided by optical encryption such as reduced cost, lower latency, high bandwidth efficiency, improved performance, and high availability, fuels the growth of the optical encryption market.
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However, change in government policies for data protection across different regions and increase in network complexity hampers the growth of the market. Furthermore, the adoption of new technologies like cloud-based services and IoT technology in optical encryption and growth in the implementation of networks in emerging nations are anticipated to provide major opportunities for the market.
Many financial and government industries have started the usage of optical encryption due to their growing security concerns, as a result, the price and availability of optical encryption engine have increased dramatically. Aforementioned is a factor expected to drive optical encryption market growth.
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The optical encryption market is segmented into encryption layer, data rate, industry vertical, and region. As per encryption layer, it is segmented into OTN or layer 1, MACsec or layer 2, and IPsec or layer 3. By data rate, it is bifurcated into less than10G, 10G–40G, 40G–100G, and more than 100G.
As per industry vertical, it is categorized into BFSI, retail & e-commerce, manufacturing, government & defense, energy & utilities, IT & telecom, education, healthcare, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the optical encryption market analysis are Ciena Corporation, ADVA Optical Networking, ECI Telecom, Huawei Technologies Co. Ltd, Infinera Corporation, Cisco Systems Inc., Microchip Technology Inc., Acacia Communications Inc., Arista Networks Inc., and Nokia Corporation.
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KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the market along with the current optical encryption market trends and future estimations to elucidate the imminent investment pockets.
- Information about the key drivers, restraints, and opportunities and their impact analysis on the optical encryption market share is provided.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the optical encryption industry.
- The quantitative analysis of the market industry is provided to determine the market potential.
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