Japan optical encryption market is estimated to grow significantly at a CAGR of around 10.1% during the forecast period. The major factors that propel the market growth include increasing number of internet users coupled with growing concern related to data security and safety across the globe. There is a considerable number of internet users which increased the government’s focus towards cybersecurity as the country is facing a major concern of cyber-attacks. Japan is preparing for the revised 2021 Tokyo Olympic and Paralympic Games and increasing focus on cybersecurity has been reported in response to an increasing frequency of cyber-attacks. The government of Japan is focusing on strengthening its network infrastructure by quantum cryptography. The Japanese government plans to leverage its quantum cryptography technology R&D which is expected to be in practical use in 2025 that further provide significant opportunity to the market.
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Japan 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 Japan 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 Japan optical encryption market include Ciena Corp., Ericsson AB, Nokia Corp., Cisco Systems, Inc., Huawei Technologies Co., Ltd., ZTE 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.
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Japan 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)
Company Profiles
- Ciena Corp.
- Cisco Systems, Inc.
- CenturyLink, Inc.
- Ericsson AB
- ECI Telecom Ltd.
- Huawei Technologies Co., Ltd.
- Infinera Corp.
- Nokia Corp.
- PacketLight Networks Ltd.
- ZTE Corp.
