Optical encryption market is expected to grow at a moderate rate during the forecast period 2019-2025. Optical encryption is a medium to secure in-flight data in the network transport layer. It is carried over optical waves across fiber-optic cables. With an increasing number of data leaks and high-profile breaches, cybersecurity is a major concern. For instance, according to the Executive Officer of the President of the US, the US economy has incurred the loss due to malicious cyber activity costing between $57 billion to $109 billion in 2016. Three Ukrainian energy distribution companies were targeted for cyber-attacks in December 2015. This resulted in electricity outages for nearly 225,000 customers across Western Ukraine’s Ivano-Frankivsk region. The attackers achieved unauthorized access into the corporate network of a regional electricity distribution company. About twenty-three 35kV and seven 110 kV substations were disconnected for three hours. This became possible due to the theft of credentials from corporate networks. The attackers were trying to theft credentials from 6 months before and finally succeed. Such kinds of cybersecurity threats are expected to encourage the demand for optical encryption technologies. Optical encryption provides benefits such as providing no information about underlying services and adding no latency. This enables to provide an exceptionally secure connection to the infrastructure by protecting data from theft. Other crucial factors that are contributing to the growth of the market include rising investment in smart city projects and advances in optical encryption techniques.
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The global optical encryption market is segmented on the basis of the encryption layer and vertical. Based on the encryption layer, the market is further classified into layer 1, layer 2 and layer 3. Additionally, on the basis of vertical, the market is further classified into military and defense, government, BFSI (Banking, financial services, and insurance), healthcare, retail, transportation, telecom & IT, and others. There has been a significant demand for optical encryption in BFSI to protect information of their customers. BFSI industry is susceptible to a breach of data. Hence, it requires upgrading transaction and processing technologies. In addition, the industry requires end-to-end security solutions for optimizing operations against external and internal threats. Due to services, including mobile banking, smart banking, and internet banking, the payment security transmitted over the network is a prime object for BFSI organizations. This, in turn, increases the demand for optical encryption solutions to control and secure sensitive data of customers by encrypting data, files, and emails, as well as offers financial security.
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Global Optical Encryption Market Segmentation
By Encryption Layer
Layer 1
Layer 2
Layer 3
By Vertical
Military & Defense
BFSI (Banking, Financial Services & Insurance)
Healthcare
Retail
Transportation
Telecom & IT
Others (Energy and Utilities)
Regional Analysis
North America
United States
Canada
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Rest of the World
Company Profiles
Acacia Communications, Inc.
ADVA Optical Networking SE
Arista Networks, Inc.
CenturyLink, Inc.
Ciena Corp.
Cisco Systems, Inc.
Crown Castle International Corp.
ECI Telecom, Ltd.
Ericsson AB
Huawei Technologies Co., Ltd.
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