Network Encryption Market Size Worth USD 8.56 Million in 2032 | Emergen Research

The global network encryption market size was USD 4.06 Million in 2022 and is expected to register a steady revenue CAGR of 7.8% during the forecast period, according to latest analysis by Emergen Research. Rising number of data breaches and cyber security threats is the primary factor driving market revenue growth. Network encryption protects network traffic as it travels across the network edge, from intruders, reducing the likelihood of data breaches.

Encryption not only secures data or message confidentiality, but it also provides authentication and integrity, demonstrating that the underlying data or messages have not been altered in any way from their original condition.
In addition, increasing adoption of (BYOD policies at work is another key factor driving revenue growth of the market. Personal devices may not have the same level of data backup and recovery procedures but are more secure compared to company-managed devices.

Moreover, rising strategic initiatives taken by major companies is also expected to drive market revenue growth of this region during the forecast period. For instance, on 15 September 2021, Viasat announced a next-generation encryption storage solution, the Data-At-Rest Cryptography Solid State Drive (DARC-SSD), as the latest addition to Viasat's hardware encryption family, providing secure data protection for government and defense agencies around the world.

The report studies the historical data of the Network Encryption market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Network Encryption industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Network Encryption market.

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Report Objective:

The report offers a complete analysis of the global Network Encryption market with details about each market player including company profile, financial standing, global position, revenue contribution, production and manufacturing capacity, business expansion plans, and new product launches.

Key players are strategizing various plans such as M&A acquisition, partnerships, joint ventures, license agreement and collaborations.
Thales GROUP, CISCO SYSTEMS, INC., Juniper Networks, Inc., CERTES NETWORKS, INC., Rohde & Schwarz, Atos SE, ADVA Optical Networking, Nokia, Colt Technology Services Group Ltd., and Viasat, Inc.

Some Key Highlights From the Report
• The symmetric encryption segment accounted for largest revenue share in the global network encryption market in 2022. This is because symmetric encryption is quick, efficient, and easy to set up and can encrypt enormous volumes of data such as files, messages, or databases. Data is scrambled using symmetric encryption techniques so that it cannot be understood by anybody who does not have the secret key to decrypt. Once the message has been delivered to appropriate recipient who has the key, the algorithm reverses its action and returns the message to its original readable form. The secret key used by both the sender and recipient could be a specific password/code or a random string of letters or numbers created using a secure Random Number Generator (RNG). For banking-grade encryption, the symmetric keys must be generated with a RNG that has been certified in accordance with industry standards such as FIPS 140-2.
• The hardware segment is expected to register steadily fast revenue growth rate in the global network encryption market during the forecast period. This is because main advantage of hardware encryption is that it does not require installation on host computer's operating system, which implies that even if operating system is hacked, hardware encryption mechanisms will keep data secure. Network encryption hardware, such as dedicated encryption appliances and Hardware Security Modules (HSMs), offers several significant benefits for organizations looking to secure their data and communications. Network encryption hardware is often scalable, allowing organizations to expand their capacity to meet rising demand without compromising security or performance.
• The North America market accounted for largest revenue share in the global network analytics market in 2022. This is due to increasing use of 5G network enabled devices to be connected at faster speeds and with larger bandwidth, which can led to increase in cybersecurity attacks. According to research, the U.S. was target of 46% of cyberattacks in 2020. In addition, rising product launches by major companies is also expected to drive market market revenue growth of this region during the forecast period.

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Network Encryption Market segmentation

Emergen Research has segmented the global network encryption market on the basis of encryption type, component, encryption protocol, organization size, end-use, and region:

Encryption Type Outlook (Revenue, USD Billion; 2019-2032)
o Symmetric Encryption
1. Triple Data Encryption Standard (Triple Des)
2. Advanced Encryption Standard (AES)
3. Blowfish
4. Twofish
5. International Data Encryption Algorithm (IDEA)
o Asymmetric Encryption
1. Rivest-Shamir-Adleman (RSA)
2. Elliptic Curve Cryptography (ECC)

Component Outlook (Revenue, USD Billion; 2019-2032)
o Hardware
o Platform
o Solutions & Services
1. Advisory Services
2. Integration and Implementation Services
3. Training and Support Services
4. Managed Services

Technology Outlook (Revenue, USD Billion; 2019-2032)
o Led Network Encryption
o Holographic Network Encryption
o Laser Network Encryption

Encryption Protocol Outlook (Revenue, USD Billion; 2019-2032)
o Transport Layer Security (TLS)/ Secure Socket Layers (SSL)
o Internet Protocol Security (IPSEC)
o Secure Shell (SSH)
o Pretty Good Privacy (PGP)
o Secure/Multipurpose Internet Mail Extensions (S/MIME)
o Kerberos

Organization Size Outlook (Revenue, USD Billion; 2019-2032)
o Small & Medium Enterprises (SMEs)
o Large Enterprises
• End-use Outlook (Revenue, USD Billion; 2019-2032)
o Telecom and Information Technology (IT)
o Banking, Financial Services, and Insurance (BFSI)
o Government
o Media & Entertainment
o Manufacturing
o Healthcare
o Others

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