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Growing demand to meet regulatory compliance drives overall network encryption market

January 8, 2019

The global network encryption market size is expected to grow from $2.9 billion in 2018 to $4.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period.

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.

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