The Network Encryption Market was valued at USD 4.51 billion in 2024 and is projected to reach USD 8.63 billion by 2032, growing at a CAGR of 8.4%. Factors driving growth include rising cloud adoption, increased cyber threats, and demand for secure communication channels in key industries like BFSI, healthcare, and government.

Key players in the market include Rohde & Schwarz Cybersecurity GmbH, Cisco Systems Inc., IBM Corporation, and others. The market scope includes market size, segment analysis, competitive landscape, regional analysis, and forecast outlook.

The market is segmented by components, deployment mode, organization size, and end-use industry. Hardware accounts for the highest share at 63.56%, while cloud-based encryption holds the largest market share at 62.12%. Large enterprises lead the market, with the BFSI sector dominating with a revenue share of 32.31%.

North America leads the global market, with the Asia Pacific region expected to grow at the highest CAGR of 9.45%. Recent developments include investments in quantum-safe technologies and the introduction of Secure AI-Native Edge Solution by Juniper Networks.

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Read more at GlobeNewswire: Network Encryption Market Size to Surpass USD 8.63 Billion