Germany optical encryption market is estimated to grow significantly at a CAGR of around 9.7% during the forecast period.The country is the leading exporter of machinery, vehicles, chemicals, and household equipment. Due to this factor, a significant investment can be observed in the future in cyber protection. In addition, the country has a significant military budget, owing to which, the deployment of optical encryption technology is high in the country. The exponential growth in bandwidth, coupled with cyber defense grounds has significantly increased a need for enhanced communication networks for security agencies and defense forces. In Germany, the total mobile cellular connection in 2017 was 106 million which reached 132 per 100 inhabitants in 2018. As per the ITU, the total internet penetration in 2018 was around 90% of the total population. As internet users are high in the region, it increases the risk of cyber security attacks thus raising the need for optical encryption.
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Germany 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 Germany 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.
The companies which are contributing to the growth of Germany optical encryption market include ADVA Optical Networking SE, Ciena Corp., Colt Technology Services Group Ltd., Ericsson AB, Nokia Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.
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Germany 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)
