China optical encryption market is estimated to grow significantly at a CAGR of around 8.8% during the forecast period. The major factors that propels the market growth include increasing internet penetration, rising focus on cybersecurity,, rising investment in smart city projects and emerging focus on cybersecurity in the country. According to the German Asia-Pacific Business Association, the Chinese government is focusing on the development of smart cities and nearly 500 pilot projects have already been running in the country. The smart city ambitions of China have been primarily led by giant private-sector players that are contributing to make smart cities across the country; these companies also provide technologically advance and innovative capabilities to bolster the infrastructural improvement in the country.
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China 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 China 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.
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China Optical Encryption Market Segmentation
By Encryption Layer
- Layer 1
- Layer 2
- Layer 3
By Verticals
- Military & Defense
- Banking, Financial Services and Insurance (BFSI)
- Healthcare
- Retail
- Transportation
- Telecom & IT
- Others (Energy & Utilities)
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