Optical Encryption Market: Global Industry Growth, Market Size, Market Share and Forecast 2019-2025

Orion Market Research (OMR) recently published a market research report on the global Optical Encryption market. According to OMR analysis, the market is expected togrow with a significant CAGR during the forecast period (2019-2025).The market is categorized on the basis of encryption layer and vertical. The report provides detailed and insightful chapters including an overview of the market, key findings, strategic recommendations, market estimates, regulations, determinants of the market, key analysis of companies, strategic analyses, market insights, company profiling, market segmentation, and geographical analysis.

A full report of the global optical encryption market is available at:

https://www.omrglobal.com/industry-reports/optical-encryption-market/

Optical encryption secures in-flight data across fiber optic cables in the network transport layer by means of optical waves. The increasing leaks in data and high profile breaches have led the necessity for optical encryption technologies. It enables in protecting the information about underlying services and secures the connection to the infrastructure by protecting data from theft. Additional factors such as the increasing investment in smart city projects and advances in optical encryption techniqueshave augmented the growth of the market.

Optical encryption uses the encryption software to safeguard the privacy of information stored and traveling data by means of networks or data transfer in accordance with an organization’s compliance and security requirements. It encrypts and decrypts residual and transmit data by means of software. Therefore, encryption software enables to enhance the security of confidential data by making the data unreadable to the authority. Therefore, to counter the increasing incidence of cyber-attacks, the encrypting software should be introduced.

The market is segmented on the basis of the encryption layer and vertical. The market is further divided into layer 1, layer 2, and layer 3, based on the encryption layer. The market is further classified on the basis of vertical into military and defense;Banking, Financial Services & Insurance (BFSI); healthcare; retail; transportation; telecommunications and IT; and others. In order to protect customer information, optical encryption is in significant demand by the BFSI. BFSI is vulnerable to data breach. Therefore, transaction upgrading and processing technologies are required. In order to optimize operations against external and internal threats, the industry requires complete security solutions. The payment security transferred over the network is a prime caoncern for BFSI organizations because of services including mobile banking, smart banking, and internet banking. This results in increasing demand for optical encryption solutions for the supervision and security of sensitive customer information through data, files and emails encryption, and financial security.

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Ciena Corp., the US-based company, provide products such as WaveLogic Encryption which uses the highest safety encryption algorithm,Elliptic curve cryptography algorithm. It is a cost-effective, easy-to-use and large-scale encryption solution that defends all air traffic networks around the world.It offers MyCryptoTool a user-friendly, dedicated end-user portal for distributed network management. This enables the end-userto manage theirencrypted services,encryption security settings and alarms remotely and separately.Other major players operating in the market are Cisco Systems, Inc., Infinera Corp., ECI Telecom Ltd., and Huawei Technologies Co., Ltd.

Between 2019 and 2024, North America is expected to dominate the optical encryption market. Some of the major players in the region such as Ciena (US), Cisco (US), Infinera (US) and Arista Networks (US) are contributing for its domination. The high use of cloud-based applications in America has affectedly increasedthe number of cyber-attacks. Additionally, the need for regulatory compliance and security concerns has also increased the demand for optical encryption solutions.However, the growing number of smart city projects and the increasing adoption of cloud services are projected to witness considerable market growth in Asia Pacific.

Region Covered

·        North America (US and Canada)

·        Europe (UK, Germany, France, Spain, and Italy)

·        Asia-Pacific (China, India, South Korea, and Japan)

·        Rest of the World (Middle East & Africa and Latin America)

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Related Reports:

·        Payment Security Market

·        Cyber Security Market

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