Global Network Encryption Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global network encryption market size reached US$ 4.2 Billion in 2022. Looking forward, the market is expected to reach US$ 7.0 Billion by 2028, exhibiting a growth rate (CAGR) of 8.89% during 2022-2028.

Network encryption solutions help protect the privacy and sensitive data of organizations against espionage. They ensure that the data is end-to-end encrypted while transmitting over a computer network. They can be incorporated with zero-touch encryption key management to provide robust, authenticated, and high-assurance encryption. Nowadays, companies across the globe are focusing on integrating network encryption solutions into a single platform to protect website traffic, internal networks, corporate backbone networks, and virtual private networks (VPNs).

Network Encryption Market Trends

The growing exchange of data via different networks represents one of the key factors catalyzing the demand for network encryption solutions to protect intellectual property and sensitive business information. Moreover, data threats and cybercriminal activities cause a huge financial loss to individuals and governing agencies. As a result, public authorities are deploying these solutions to secure digital communications and network transmitted data against cyberattacks and data breaches. Apart from this, the growing trend of m-health services, the emerging use of electronic health records (EHRs), and the increasing adoption of connected devices are driving the application of network encryption solutions in the healthcare industry worldwide. This can also be attributed to the growing prevalence of chronic diseases and improving access to healthcare facilities. Network encryption solutions safeguard electronic patient information from data breaches, keep critical systems secure, and contribute to compliance with stringent governmental regulations. Furthermore, digitization of energy services and rising concerns of preventing operational data loss are positively influencing the market. In addition, the increasing energy demand, along with growing investments by governing agencies of various countries in the renewable energy infrastructure, is providing lucrative growth opportunities to players operating in the industry.

Key Market Segmentation

This research provides an analysis of the key trends in each sub-segment of the global network encryption market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on component, deployment mode, organization size and end use industry.

Breakup by Component:

• Hardware
• Solutions and Services

Breakup by Deployment Mode:

• Cloud-based
• On-premises

Breakup by Organization Size:

• Small and Medium-sized Enterprises
• Large Enterprises

Breakup by End Use Industry:

• Telecom and IT
• BFSI
• Government
• Media and Entertainment

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Latin America
• Brazil
• Mexico
• Middle East and Africa

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report

1. What was the size of the global network encryption market in 2022?
2. What is the expected growth rate of the global network encryption market during 2023-2028?
3. What has been the impact of COVID-19 on the global network encryption market?
4. What are the key factors driving the global network encryption market?
5. What is the breakup of the global network encryption market based on the component?
6. What is the breakup of the global network encryption market based on the organization size?
7. What is the breakup of the global network encryption market based on the end use industry?
8. What are the key regions in the global network encryption market?
9. Who are the key players/companies in the global network encryption market?