Asia-Pacific optical encryption market is estimated to grow significantly at a CAGR of around 9.8% during the forecast period. The major factors that propel the market growth include increasing internet penetration, rising focus on cyber security, and growing smart city projects across the region. Internet penetration has been rising in the region owing to the cohesive government initiatives to promote digitization. The increasing internet penetration has increased the concerns associated with data traffic and data security, which in turn, is expected to drive the adoption of optical encryption technology in the region. Optical encryption is an emerging medium to protect data with high capacity, as it crosses cities, country, and borders. Therefore the wide area of application for optical encryption further provides significant growth to the market.
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Asia-Pacific optical encryption market is segmented on the basis of the encryption layer and vertical. Based on the encryption layer, the market is further segmented into Layer 1, Layer 2, and Layer 3. Based on vertical, the market is further segmented into military & defense, BFSI, healthcare, retail, transportation, IT & telecom, and others. BFSI sector extensively deploys optical encryption to protect their customers, meet government and industry data security compliance standards. Therefore the BFSI segment has significant share in the Asia-Pacific optical encryption market. Moreover, the significant number of data centers, increasing data traffic over the telecom and IT sector coupled with rising cyber threats are augmenting the need for optical encryption solutions in the IT and telecom sector.
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Asia-Pacific Optical Encryption Market Segmentation
By Encryption Layer
- Layer 1
- Layer 2
- Layer 3
By Verticals
- Military & Defense
- Banking, Financial Services and Insurance (BFSI)
- Healthcare
- Retail
- Transportation
- Telecom & IT
- Others (Energy & Utilities)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
