DUBLIN--(BUSINESS WIRE)--The "Optical Encryption Market by Encryption Layer (OTN or Layer1, MACsec or Layer 2, & IPsec or Layer 3), Data Rate (10G, 40G, 100G), Vertical (BFSI, Government, Healthcare, Data Centre & Cloud, Energy & Utilities) & Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
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.
Factors driving the growth of the optical encryption market include emerging requirement of regulatory compliances, growing concern over data security and privacy due to cyberattacks, and rising data center deployments. The major restraint for this market is the increasing network complexity.
The market for Layer 1 is expected to grow at the highest CAGR during the forecast period. The reason for this growth is the advantages such as reduced cost, lower latency, high bandwidth efficiency, improved performance, and high availability, offered by Layer 1 encryption. Also, Layer 1 encryption supports a variety of client and transport interfaces for both current and future services.
The market for BFSI vertical is expected to lead the market between 2018 and 2023. The optical encryption is being increasingly deployed by the BFSI sector to protect their customers, meet government and industry data security compliance standards, facilitate security auditing, and avoid reputation damage caused by data breaches.
The market in APAC is expected to grow at the highest CAGR between 2018 and 2023. The growth of the market in APAC is due to the extension of the network in China, Thailand, Malaysia, South Korea, India, and other developing countries in APAC. APAC is the largest producer as well as consumer of smartphones, laptops, televisions (TVs), and various other data-generating devices across the world.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Optical Encryption Market, By Encryption Layer
7 Optical Encryption Market, By Data Rate
8 Optical Encryption Market, By Vertical
9 Optical Encryption Market, By Geography
10 Competitive Landscape
11 Company Profiles
- Acacia Communications
- Arista Networks
- ECI Telecom
- Juniper Networks
- PacketLight Networks
- SSE Enterprise Telecoms
- Thales E-Security
- Windstream Holdings
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