The Optical Encryption Market is Projected To Reach USD 7.01 billion By 2030, From USD 3.64 billion in 2022,Registering a CAGR Of 8.54% During The Forecast Period 2023-2030| Data By Contrive Datum Insights Pvt Ltd.
According to a market research study published by Contrive Datum Insights, The primary factors driving the growth of the optical encryption market are the rise in cyberattacks, the rise in concerns about data safety and security, and the rise in government investments in smart city projects.
Farmington, May 09, 2023 (GLOBE NEWSWIRE) -- *The Global Optical Encryption Market size was valued at USD 3.64 billion in 2022 and is projected to reach USD 7.01 billion by 2030, growing at a CAGR of 8.54% from 2023 to 2030. *Effective network security requires multiple layers of defense along the network's path as well as at the network's core and periphery. However, the majority of organizations concentrate their security efforts on the user and application endpoints, which are the most vital components of protection. Information that is transiting the network.
In addition, the widespread adoption of cloud computing applications for hosting, processing, and storing data has increased the likelihood that sensitive data will be transmitted over networks, thereby increasing the costs associated with data loss. The market is expanding as the number of data breaches increases. In 2019, it was reported that 218 million data records from Zynga, Facebook, Adobe Creative Cloud, and Capital One Financial Corporation were exposed due to a data breach.
In addition, the rise of the market for optical encryption is fuelled by the numerous advantages of optical encryption, such as an increase in Internet users, data traffic, costs, latency, bandwidth efficiency, performance, and availability. In addition, the fact that more data is being sent over extended distances via radio waves, such as 10G, 40G, and 100G, has led to the use of optical encryption to safeguard large amounts of data traveling between countries. For example, in January 2020, BGN Technology, formerly a company operated by Ben-Gurion University of Negev, released an all-optical covert encryption technology that, according to the company, makes network communication in data centers and cloud computing significantly more secure and private.
*Request Sample Copy of Report “The Global Optical Encryption Market Size, Share & Trends Estimation Report By Layer Outlook (OTN or Layer1, MACsec or Layer 2 & IPsec or Layer 3) By Application Type Outlook (Bank, financial and insurance service, Government, Healthcare, Data centre & cloud, Energy & Utilities) By Type Outlook (Less than 10G, Greater than 10G and less than 40G, Greater than 40G and less than 100G & Greater than 100G) Region, And Forecasts, 2022 - 2030”, published by Contrive Datum Insights.*
*Segmentation Overview: *
*By layer**: *
· OTN versus Layer1
Layer-One, which stands for Optical Transport Network, is a data transmission medium that employs light. It is utilized in long-distance communication networks, such as those between cities and countries. Its primary advantage is that it can transport a large amount of data at a rapid rate due to its high bandwidth. Layer-One optical encryption utilizes this property of light to encode information in a way that makes it difficult for unauthorized parties to decipher it. As a result, it is a crucial instrument for keeping confidential information secure in communication networks.
· MACsec security or Layer 2
MACsec or Layer is a form of optical encryption that employs the OSI model's media access control layer to secure data communications. At the MAC layer, MACsec encrypts and authenticates all communications, ensuring that only authorized devices can access the network. MACsec is frequently combined with other security measures, such as firewalls and intrusion detection systems, to provide an all-encompassing defense against threats.
· IP Security or Layer 3
IPsec, also known as Layer, is an industry-standard protocol that enables secure communication over IP networks. It encrypts and verifies data pieces to ensure that only authorized individuals can access the data. IPsec also enables businesses to securely connect remote locations and mobile employees to the company network.
*By Type:*
Data Rate-based market segments include Less than 10G, Greater than 10G and Less than 40G, Greater than 40G and Less than 100G, and Greater than 100G. In 2017, the data rate segment between 10G and 40G held the largest market share in optical encryption. This is due to the pervasive adoption of optical encryption in industries with an average data transit rate between 10G and 40G, such as BFSI, government, healthcare, and energy and utilities.
During the forecast period, the market for optical encryption greater than 100G is anticipated to grow at the highest CAGR. This expansion can be attributed to the requirement for encryption rates to align at speeds greater than 100G for all packet sizes in order to meet the increased bandwidth demand caused by cloud services, mobile devices, and enormous increases in video traffic.
*By Application:*
Banking, financial services, and insurance (BFSI) held the largest market share in 2017. The BFSI sector is increasingly deploying optical encryption to protect their consumers, meet government and industry data security compliance standards, facilitate security auditing, and prevent reputational damage from data breaches. During the forecast period, the market for optical encryption in data centers and clouds is anticipated to expand at the highest CAGR. A growing number of networked devices, consumers, and business processes rely on data centers for storage, networking, and communications. The increasing value and size of data centers have been influenced by the significance of data analytics.
*Regional Analysis:*
In 2020, Asia-Pacific held the largest market share at 33.1%. This region's market expansion is primarily driven by key economies like China, India, Japan, and others. According to the Indian Brand Equity Foundation (IBEF), India is the second largest telecommunications market in the world, with 1.16 billion subscribers, and has experienced rapid expansion over the past decade. In response to user requirements such as the rapid adoption of wireless communication and the expansion of the Internet of Things (IoT), the demand for stringent Internet data security measures is growing. This increases the demand for end-to-end encryption systems that safeguard sensitive data by preventing data exfiltration. Increasing government regulations regarding data security in these economies fuel demand for optical encryption systems, thereby driving the expansion of the optical encryption market. Network coverage, such as 5G, telecommunications, consumer electronics, data centers, and smart city initiatives in China, India, Japan, and other developing nations in the region substantially boost the growth of the optical encryption market.
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*Scope of Report:*
*Report Attributes* *Details*
*Growth Rate* CAGR of *8.54**% *from 2023 to 2030.
*Revenue Forecast by 2030* * $** 6.60 billion*
*By layer* · OTN versus Layer1
· MACsec security or Layer 2
· IP Security or Layer 3
*By Type* · Less than 10G
· Greater than 10G and less than 40G
· Greater than 40G and less than 100G
· Greater than 100G
*By Application* · Bank, financial and insurance service
· Government
· Healthcare
· Data centre & cloud
· Energy & Utilities
*By Companies* · Cisco
· ADVA
· Micro semi
· Time Warner Cable
· China Mobile
· Ericson
· ATandT
· Nokia
· Telefonica
· Century link
· Vodafone
· Juniper nertworks
· Huawei
· Packelight network
· Orange
· Broadcom
· Facebook
· Infinera
· Google
· Ciena
· Masergy
· Arista network
· Acacia Communications
· Deutsche Telekom
· Microsoft
· ECI Telecom
*Regions and Countries Covered* · North America: (US, Canada, Mexico, Rest of North America)
· Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
· The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
· Latin America(Brazil, Argentina, Rest of Latin America)
· Rest Of the World
*Base Year* 2022
*Historical Year* 2017 to 2022
*Forecast Year* 2023 to 2030
*Market Dynamics: *
*Driver:*
With the advancements in optical networking technology that make it possible to send large amounts of data rapidly and with a high bandwidth, the risk of data breaches and leaks has also become a major concern. To increase the security of their networks, optical networking companies have implemented end-to-end encryption. The increasing demand for security is likely to fuel the global optical encryption market. Optical encryption employs innovative technology to encrypt user data as it travels from one endpoint to another. This meets the Federal Information Processing Standards (FIPS) requirements. The system encrypts all in-flight data for all users at the optical level, which provides the greatest security and throughput and can be readily implemented to reduce latency. These technological advancements contribute to the expansion of the market.
As the government works to create smart cities in key regions of the country, the market for light encryption in IoT and mobile devices is expected to expand. The goal of transferring a large amount of data rapidly, with a high bandwidth, was of equal importance to the possibility of data leaks and breaches. WaveLogic Encryption, a programmable 100G/200G optical encryption solution, is now available from Ciena Corporation, a leading provider of communications networking equipment and software in the United States. This is in addition to the development of smart cities utilizing cutting-edge technology. It combines years of expertise in coherent optics and transport layer cryptography to create a solution that is simple to implement. Customers can now configure 10G, 100G, and 200G encryption services across their entire network with unprecedented ease. This means that they are no longer required to purchase costly encryption devices for each application. Your program via the network. As a result of these alterations, the optical encryption market is likely to expand.
*Challenges:*
On the global market for optical encryption, network unreliability is one of the largest issues. Even though solutions for encrypting data in flight have improved, network infrastructures are still not very dependable, and network-based access is still restricted. As the number of networking regulations increases, it becomes more difficult for users to manage their networks. This has made it difficult for individuals to utilize optical encryption solutions, which will likely delay the growth of the optical encryption market in the coming years. Moreover, variations in how governments protect data in various regions of the world tend to restrict their use and hinder the expansion of the optical encryption market.
*Key Segments Covered:*
*Top Market Players: *
· Cisco
· ADVA
· Micro semi
· Time Warner Cable
· China Mobile
· Ericson
· ATandT
· Nokia
· Telefonica
· Century link
· Vodafone
· Juniper nertworks
· Huawei
· Packelight network
· Orange
· Broadcom
· Facebook
· Infinera
· Google
· Ciena
· Masergy
· Arista network
· Acacia Communications
· Deutsche Telekom
· Microsoft
· ECI Telecom
*By layer:*
· OTN or Layer1
· MACsec or Layer 2
· IPsec or Layer 3
*By Type:*
· Less than 10G
· Greater than 10G and less than 40G
· Greater than 40G and less than 100G
· Greater than 100G
*By Application:*
· Bank, financial and insurance service
· Government
· Healthcare
· Data centre & cloud
· Energy & Utilities
*Regions and Countries Covered*
· *North America: *(US, Canada, Mexico, Rest of North America)
· *Europe: *(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
· *Asia-Pacific: *(Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
· *The Middle East & Africa: *(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
· *Latin America: *(Brazil, Argentina, Rest of Latin America)
· *Rest Of the World*
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