Network Encryption Market: Current Analysis and Forecast (2022-2028)

Report Description

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Global Network Encryption Market is expected to grow at a significant rate of around 9% during the forecast period 2022-2028. Network encryption is a security procedure that encrypts or codes sensitive data sent over a computer network, including passwords, identification information, communications, and files. Network encryption solutions aid in defending enterprises’ sensitive information and privacy against espionage. They make sure that when data is transmitted across a computer network, it is end-to-end encrypted. To offer reliable, authenticated, and high-assurance encryption, they can be used with zero-touch encryption key management.

The growing adoption of network encryption is attributed to the growing number of data breaches around the world. Moreover, the growing adoption of next-generation security solutions is expected to surge the market growth during the forecast period. Furthermore, the rising cost of each data breach is also expected to drive the market. For instance, according to IBM, the average cost of a data breach increased by 2.6% in 2021.

Thales TCT, ATMedia Gmbh, Atos SE, Juniper Networks Inc, Certes Networks Inc, Senetas Corporation Ltd, Viasat Inc, Raytheon Technologies Corporation, Securosys SA, and Huawei Technologies Co., Ltd. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst component, the hardware to witness robust CAGR during the forecast period”

Based on component, the market is segmented into hardware, platform, and services. The hardware segment is expected to witness a higher CAGR during the forecast period. Features such as high speed, robust security, and low latency among other network encryption hardware are driving the segment growth during the forecast period.  Moreover, the growing technological advancement and growing prominence of consumer electronics are expected to drive the market during the forecast period. For instance, according to bankmycell, there are around 6.37 billion active smartphones in the world in 2021.

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Network Encryption Market Report Coverage

“Amongst organization size, large category to hold a significant share in the market in 2020”

Based on organization size, the network encryption market has been classified into large enterprises and SMEs. The large enterprise is to witness higher adoption in 2020 and is expected to maintain its domination throughout the forecast period. As large organizations are the early users of the network encryption solution because they must protect vast amounts of data created by numerous application areas, including sales, marketing, HR, and internal operations. Moreover, due to the massive amounts of content generated by enterprise applications every second to gain a competitive advantage, large businesses across all industries are leading the way in implementing network encryption solutions.

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 “North America to hold a significant share in the market”

For a better understanding of the market adoption of the network encryption industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America has led the network encryption market with the highest market share and is expected to maintain the same throughout the forecast period. The growing adoption in the region is mainly attributed to the growing cases of data breaches. For instance, according to Surf Shark, the United States experienced more than 200 million data breaches in the year 2021. Moreover, the governments in the region offer appropriate platforms for startups and SMEs, in terms of government regulations and compliances. Hence, enterprises are growing rapidly and have a massive demand for network encryption. These factors are expected to drive the market during the analysis time period.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global network encryption market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Network Encryption Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global network encryption market were the three major steps undertaken to create and analyze the adoption of network encryptions in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global network encryption market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the network encryption market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the network encryption market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as component, organization size, and vertical. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the network encryption market. Further, we conducted factor analysis using dependent and independent variables such as various component, organization size, and verticals of network encryptions. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the network encryption market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global network encryption market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

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Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the network encryption market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global network encryption market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

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Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global network encryption market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of component, organization size, and vertical in the global network encryption market.

The main objective of the Global Network Encryption Market Study

The current & future market trends of the global network encryption market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the network encryption market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of component, organization size, and vertical.
• Define and analysis of the regulatory framework for the network encryption
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the network encryption market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the network encryption market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry

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