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.
