According to Market Study Report, Optical Encryption Market provides a comprehensive analysis of the Optical Encryption Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape and emerging opportunities of global industry. This report also provides market landscape and market share information in the Optical Encryption Market. An exclusive data offered in this report is collected by research and industry experts team.
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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.
Top Key Players Profiled in the Optical Encryption Market:
- Ciena (US)
- ADVA (Germany)
- Nokia (Finland)
- ECI Telecom (Israel)
- Cisco (US)
- Huawei Technologies (China)
- Microsemi (US)
- Infinera (US)
- Arista Networks (US)
- Acacia Communications (US)
“Optical encryption market for Layer 1 to grow at highest CAGR during forecast period”
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.
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“The banking, financial services, and insurance (BFSI) vertical to hold largest share of optical encryption market during forecast period”
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.
“Optical encryption market in APAC to grow at highest CAGR during forecast period”
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 smart phones, laptops, televisions (TVs), and various other data-generating devices across the world.
Breakdown of primary participants’ profile:
- By Company Type: Tier 1 = 30 %, Tier 2 = 45%, and Tier 3 = 25%
- By Designation: C-Level Executives = 67%, Directors= 33%
- By Region: Americas = 50%, Europe = 25%, APAC = 20%, and RoW= 5%