European optical encryption market is estimated to grow significantly at a CAGR of around 8.5% during the forecast period. Factors that are contributing to the growth of the optical encryption market in Europe include a well-developed telecommunication infrastructure, high internet penetration, growing cybercrimes, and strict government regulations regarding data protection. Cybercrime is increasing significantly across the globe, majorly in the EU Member States, where the internet infrastructure is well developed, and payment systems are online. The EU aimed to increase economic cooperation and encourage free trade among countries. Europe is highly relied on internet-based services owing to robust internet penetration, significant digitalization, and cohesive government policies. The optical encryption technology shows a significant application in providing secure and advances connectivity between smart devices that are implemented in smart city projects.

European 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 European 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 the European 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. 

Research Methodology

The market study of the European optical encryption market is incorporated by extensive primary and secondary research conducted by the research  team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for optical encryption market players, potential entrants and IT companies for the overall market and competitive analysis. The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. European Optical Encryption Market Research and Analysis by Encryption Layer
2. European Optical Encryption Market Research and Analysis by Verticals

The Report Covers

• Comprehensive research methodology of the European 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 European optical encryption market.
• Insights about market determinants which are stimulating the European optical encryption market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.