LAMEA optical encryption market is estimated to grow at a CAGR of around 7.4% during the forecast period. The major factors that drive the demand for optical encryption in the region include the increasing number of internet users and rising focus on cybersecurity. There is a significant rise in the number of internet users across Brazil, Argentina, Mexico, and Colombia. As per the World Bank, in Brazil, 70.4% of the population was using the internet in 2018, which increased from 67.5% in 2017. In Argentina, 74.3% of the population was using the internet in 2017, increased from 71.0% in 2016. While in Mexico and Colombia, internet users increased from 63.9% and 62.3% in 2017 to 65.8% and 64.1% in 2018, respectively. With the increasing penetration of the internet in the region, the risk of cyberattacks increases and hence creates the demand for optical encryption.
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The LAMEA 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 segmented into military & defense, BFSI, healthcare, retail, transportation, IT & telecom, and others. BFSI sector extensively deploys optical encryption to protect their customers, and to meet government and industry data security compliance standards. Therefore, the BFSI segment has a significant share in the LAMEA optical encryption market. Moreover, the significant number of data centers, increasing data traffic over the telecom & IT sector coupled with the rising cyber threats are augmenting the need for optical encryption solutions in the IT & telecom sector.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
LAMEA Optical Encryption Market by Encryption Layer
- Layer 1
- Layer 2
- Layer 3
LAMEA Optical Encryption Market by Verticals
- Military & Defense
- Banking, Financial Services and Insurance (BFSI)
- Healthcare
- Retail
- Transportation
- Telecom & IT
- Others (Energy & Utilities)
Regional Analysis
- Latin America
- Middle East
- Africa
Company Profiles
- BGN Technologies Ltd.
- Ciena Corp.
- Cisco Systems, Inc.
- ECI (Electronics Corp. of Israel) Telecom Ltd.
- Ericsson AB
- Huawei Technologies Co., Ltd.
- Infinera Corp.
- Nokia Corp.
- PacketLight Networks Ltd.
- Thales eSecurity, Inc.
The Report Covers
- Comprehensive research methodology of the LAMEA optical encryption market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the LAMEA optical encryption market.
- Insights about market determinants which are stimulating the LAMEA optical encryption market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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