Optical Encryption Market Analysis and Forecast, 2019-2028 – In-depth Market Study by RationalStat assesses the global and regional market based on encryption layer, data rate, end-user, and region. A comprehensive report provides a detailed historical and future market size with a trend analysis. The market report underlines the market share analysis, competition overview, growth strategies, strategic imperatives, annual revenue figures, growth avenues, and competition assessment.
Some of the prominent players operating in the global optical encryption market include Nokia Corp., Cisco Systems Inc., Huawei Technologies Co. Ltd., Broadcom Inc., Juniper Networks Inc., Ciena Corp., ECI Telecom Ltd., Microsemi Corp., Arista Networks Inc., Crown Castle International Corp., ADVA Optical Networking SE, Microchip Technology Inc., and Thales Group, among others.
Market Overview and Dynamics: Penetration of Optical Encryption to rise during the Forecast Period
The global optical encryption market is expected to grow at a CAGR of 8.2% during the forecast period of 2022-2028. Increasing internet penetration, rising focus on cyber security, and growing smart city projects across the globe are the key factors expected to propel the demand for optical encryption.
The global optical encryption market is set to observe robust growth in the next six years, primarily driven by the increasing internet penetration that has increased the concerns associated with data traffic and data security.
- Financial and government industries have started the convention of optical encryption due to their growing security concerns as a result the availability of optical encryption engines has increased considerably.
- Asia Pacific is anticipated to observe a prominent growth rate over the forecast period owing to the extent of networks such as telecom (including 5G), consumer electronics, and smart cities projects in the region.
- North America is expected to dominate the global optical encryption market owing to the high adoption of cloud-based applications leading to a significant increase in the number of cyber-attacks.
- Europe is anticipated to experience considerable growth due to the adoption of new technologies like cloud-based services and IoT technologies in optical encryption and growth in the implementation of networks in different regions.
Global Optical Encryption: Market Segment Analysis
- Based on the Encryption layer, IPsec Layer 3 is dominating the global optical encryption market. Internet-based virtual private networks (VPNs) widely use and accept layer 3 encryption as it provides unified security to application and transport layers and can be applied to all-sized networks such as local area networks (LAN),
- On the basis of End Users, the BFSI segment is expected to experience significant growth due to the increasing use of optical encryption in the BFSI industry.
- Based on region, North America is dominating the global optical encryption market owing to the high internet penetration in the region.
The global optical encryption market is fragmented in nature with presence of various players operating in the global market. Significant consolidation is expected in the global market during the assessed period 2022-2028. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global optical encryption market include,
- In March 2021, Cisco Systems Inc. announced the acquisition of Acacia Communications Inc., a Massachusetts-based company that designs, manufactures, and sells a complete portfolio of high-speed optical interconnect technologies addressing a range of applications across datacenter, metro, regional, long-haul, and undersea networks. The acquisition has strengthened Cisco’s routing and optical networking portfolio.
- In April 2020, Tasmanian Network Pty Ltd. selected Ciena’s Wavelogic Ai coherent optical solution. This was done to address rising bandwidth requirements driven by IoT, 5G, and data center services to cater to its end users with mission-critical tasks.
- Wavelogic Ai is a coherent optical solution that provides Tasmanian Networks’ with 42-24 enhanced capacity and efficiency in the network.
RationalStat has segmented the global optical encryption market on the basis of encryption layer, data rate, end-user, and region.
- By Encryption Layer
- OTN or Layer 1
- MACsec or Layer 2
- IPsec or Layer 3
- By Data Rate
- Less than 10 G
- 10 G to 40 G
- 40 G to 100 G
- More than 100 G
- By End User
- IT & Telecom
- Retail & E-Commerce
- Data Center & Cloud
- Government & Defense
- Others (Manufacturing, Energy & Utilities, Education, etc.)
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
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