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.

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. 

The companies which are contributing to the growth of the LAMEA optical encryption market include Ciena Corp., Cisco Systems, Inc., BGN Technologies Ltd., PacketLight Networks Ltd., Huawei Technologies Co., Ltd., and others. The market players are considerably contributing to market growth by adopting various growth strategies to stay competitive in the market. 

Research Methodology

The market study of the LAMEA 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, IoT companies, data center service providers, technology investors, telecom companies, banking & insurance, security, and defense of optical encryption and network solutions for overall market analysis and competitive analysis. The report provides an in-depth analysis of pricing, market size, products offered by market players, and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation

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

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.