Network Encryption Market Size- KBV Research

The Global Network Encryption Market size is expected to reach $4.7 billion by 2024, rising at a market growth of 11.4% CAGR during the forecast period. Network encryption can be understood as the process of encrypting or encoding data and messages that are transmitted or communicated through a computer network. Network encryption is a wide concept which involves various tools, methods and standards. These methods ensure that the messages are unreadable when they’re in the transit between two or more network nodes. Major growth factors for the market include an increasing demand to meet different regulatory compliances and a growing focus on shielding organizations from network security breaches. However, frequent changes in government policies for data protection across regions may hinder the market growth.