Worldwide Optical Encryption Market Study for 2028 providing information on Key Players, Growth Drivers and Industry challenges

By Ashwin Naphade  | Date: November 01, 2022

Worldwide Optical Encryption Market Study for 2028 providing information on Key Players, Growth Drivers and Industry challenges

MarketStudyReport.com added Optical Encryption Market Report provides an analytical assessment of the prime challenges faced by this Market currently and in the coming years, which helps Market participants in understanding the problems they may face while operating in this Market over a longer period time.

The global optical encryption market is estimated to exhibit a strong growth rate of around 8.2% over the forecast period.

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The market growth is attributed to the increasing internet penetration, rising focus on cyber security, and growing smart city projects across the globe. The increasing internet penetration has increased the concerns associated with data traffic and data security, which in turn, drive the adoption of optical encryption technology globally. As a means of securing in-flight data, optical encryption has remarkable benefits compared to conventional encryption solutions that operate at higher layers of the network. As a result, optical encryption techniques will be increasingly adopted to provide an exceptionally secure connection to the infrastructure by protecting data from theft.

Market Segmentation

The global optical encryption market has been analyzed on the basis of encryption layer, data rate, end-user, and region. Based on the encryption layer, the market is segmented into OTN or Layer 1, MACsec or Layer 2, and IPsec or Layer 3. IPsec or Layer 3 is dominating the global market in 2022 and is further estimated to continue its dominating nature over the forecast period.

Based on data rate, the market is segmented into Less than 10 G, 10 G to 40 G, 40 G to 100 G, and more than 100 G. The 10 G to 40 G data rate segment accounted for the largest share of the optical encryption market. Further, on the basis of end-user, the market covers the analysis of BFSI, IT & telecom, retail & e-commerce, data center & cloud, government & defense, healthcare, and others. Geographically, the market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa.

Market Structure and Competition Landscape

The growth of the global optical encryption market is characterized by the presence of players operating in the market. Some of the prominent players that contribute significantly to the market growth include Nokia Corp., Cisco Systems Inc., Huawei Technologies Co. Ltd., Broadcom Inc., Juniper Networks Inc., Ciena Corp., ECI Telecom Ltd., Microsemi Corp., Arista Networks Inc., Crown Castle International Corp., ADVA Optical Networking SE, Microchip Technology Inc., and Thales Group, among others. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market.

In March 2021, Cisco Systems Inc. announced the acquisition of Acacia Communications Inc., a Massachusetts-based company that designs, manufactures, and sells a complete portfolio of high-speed optical interconnect technologies addressing a range of applications across datacenter, metro, regional, long-haul, and undersea networks. The acquisition has strengthened Cisco's routing and optical networking portfolio.

In April 2020, Tasmanian Network Pty Ltd. selected Ciena's Wavelogic Ai coherent optical solution. This was done to address rising bandwidth requirements driven by IoT, 5G, and data center services to cater to its end users with mission-critical tasks. Wavelogic Ai is a coherent optical solution that provides Tasmanian Networks' with 42-24 enhanced capacity and efficiency in the network.

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About Author

Ashwin Naphade     ibmag.com

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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