The global Network Encryption Devices Market research report forecast to 2030 has been recently published by Reports and Data to help user understand the current market scenario. The report offers a detailed analysis of market size, market share, revenue growth, emerging trends, market drivers, restraints, opportunities, limitations, and top companies operating in the market. The data is obtained through extensive primary and secondary research which is further verified by industry experts. This data is represented using various charts, tables and graphs which makes it easier for the reader. It also provides complete analysis of the global Network Encryption Devices market with details about statistical tools such as SWOT and Porter’s Five Forces analysis.
The global Network Encryption Devices market size was USD 3.76 Billion in 2021 and register a revenue CAGR of 7.70% during the forecast period. Growing concerns for Network Security breaches, high requirement for various regulatory compliances, and increase in incidences of eavesdropping on data networks, unintentional mistake or technological failure, data manipulation, and data theft are key factors driving market revenue growth. Federal agencies require to protect network-transmitted data against cyber-attacks and data breaches. Network Encryption Devices is the process of encoding & encrypting data and messages communicated over a computer network. In this process, various tools and techniques are incorporated to ensure that messages communicated between two or more devices remain unreadable. According to research, most significant difference between breaches with a high level of compliance failures and those with a low level was USD 2.30 million.
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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in R&D activities are expected to boost market growth during the forecast period.
Competitive landscape of global Network Encryption Devices market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand product portfolio.
Some leading companies operating in the global Network Encryption Devices market
Thales, Nokia, ADVA Optical Networking, Juniper Networks, Inc., Atos SE, Colt Technology Services Group Limited, Huawei Technologies Co., Ltd., Raytheon Technologies Corporation, Rohde & Schwarz GmbH & Co. KG, and Cisco Systems, Inc.
The global market is further segmented into type and application:
|By Transmission Type Outlook
|By Component Outlook
|By Organization Size Outlook
|By Industry Vertical Outlook
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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