Transport layer security or TLS are cryptographic protocols that are designed to provide privacy and data security for communication over the internet. These security protocols are used to protect application protocols such as hyper text transfer protocols (HTTP), file transfer protocol (FTP), simple mail transfer protocol (SMTP), and network news transfer protocol (NNTP). Transport layer security is designed to provide secured communication between web browsers applications and servers such as web browsers loading a website. TLS encryption is used to protect web applications from various cyber-attacks such as data breaches and distributed denial-of-service (DDoS) attacks.
Factors driving growth of the transport layer security market
The increasing use of online transactions and popularity of e-commerce websites are the major factors that are expected to drive growth of the transport layer security market over the forecast period. For instance, e-commerce websites such as Amazon and Flipkart, and all major financial institutions that offer web-based access to bank accounts and transaction from credit and debit cards are preferring transport layer security (TLS) to secure and encrypt the transactions of bank account. Where, proper data security is provided between web server and web client.
Rise in fraud on online platforms and brand impersonation are major challenges for players in the market, which are expected to drive growth of the market. Moreover, reputational damage is a rising concern of companies due to shifting preference of consumers towards digital transaction, owing to security concerns such as confidential data of customers in banking sectors are hacked by cyber criminals. Various companies are shifting towards TLS 1.2 protocol as compared to TLS 1.1, as TLS 1.2 is more secure than TLS 1.1 protocol. For instance, in October 2018, companies including Apple, Google, Microsoft, and Mozilla announced that the protocols, TLS 1.0 & TLS 1.1, will not be used by them from 2020.
Regional Analysis of Transport Layer Security Market
On the basis of the region, transport layer security market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Among regions, North America is expected to account for the largest market share over the forecast period, owing to the presence of key players in the region such as Verisign Inc., Imperva, Inc., and F5 Networks, Inc.
Moreover, Asia Pacific region is expected to be the fastest growing region in the transport layer security market over the forecast period. India is expected to be the largest revenue contributor in transport layer security market over the forecast period. In India, online transaction is gaining popularity, owing to digital India initiative. All the vendors who process the debit card and credit card transactions need to use transport layer security and have to be PCI compliant to process the transactions. This is expected to drive demand for transport layer security in the Asia Pacific region over the forecast period.
Key players in the transport layer security market
Key players operating in the transport layer security market include Verisign Inc., Imperva, Inc., F5 Networks, Inc., Arbor Networks, Nexus guard Limited, Neustar, Inc., NSFOCUS, Akamai Technologies, Inc., Radware Ltd., Cloudflare, Inc., Corero Network Security Inc., and DOSarrest.
Segmentation of Transport Layer Security Market
The transport layer security market is segmented on the basis of type, application, and region.
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