Optical Encryption Market Opportunities and Challenges
According to the new market research report on "Optical
Encryption Market by Encryption Layer (OTN or Layer1, MACsec or Layer 2,
and IPsec or Layer 3), Data Rate (10G, 40G, 100G), Vertical (BFSI, Government,
Healthcare, Data Centre & Cloud, Energy & Utilities), and Geography -
Global Forecast to 2023", the optical encryption market is expected to
grow from USD 2.77 billion in 2018 to USD 4.24 billion by 2023, at a CAGR of
8.9% between 2018 and 2023. The growth of this market is driven by emerging
requirement of regulatory compliances, growing concern over data security and
privacy due to cyberattacks, and rising data center deployments.
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Greater than 10G and less than 40G data rate to hold
largest share of optical encryption market during forecast period
The greater than 10G and less than 40G data rate is expected
to hold the largest share of the market during the forecast period. This can be
attributed to the large-scale adoption of the optical encryption in different
verticals such as BFSI, government, healthcare, and energy and utilities where
the average data rate transfer is in the range of 10G and 40G.
Optical encryption market for data center and cloud
vertical to grow at highest CAGR during forecast period
The optical encryption market for the data center and cloud
vertical is expected to grow at the highest CAGR during the forecast period.
Data centers play a crucial role in delivering IT services and providing
storage, communications, and networking to a growing number of networked
devices, users, and business processes in general. The growing importance of
data analytics has boosted the value and growth of data centers.
Americas to hold largest share of optical encryption
market during forecast period
The Americas is expected to dominate the market with the
largest share between 2018 and 2023. This is due to the presence of some key
players such as Ciena (US), Cisco (US), Infinera (US), Arista Networks (US),
and Juniper Networks (US) in the region. The high adoption of cloud-based
applications in the Americas has led to a dramatic increase in the number of
cyberattacks, which are also becoming more sophisticated. Also, there is
increasing demand for optical encryption solutions due to the need for
regulatory compliance and security concerns.
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