Global Homomorphic Encryption Market Opportunities and Forecast 2020-2027
  • DLR1907
  • 02 June, 2020
  • Internet & Communication
  • Pages: 120
  • Global
Global Homomorphic Encryption Market, By Type (Fully, Partial, Additive, and Multiplicative), By End Use (Banking and Finance, Government, Healthcare, Industrial and others) opportunities and forecast 2020-2027

Market Overview

Homomorphic encryption is system of encryption process that assistances to carry out the computations over cipher text to generate the encrypted result. It helps to delegate data without giving away thevaccess to data and is widely used for acceptable data security. Data encryption interprets data into form or code so that it is available to people who have password.

The growing usage of thevsmartphones and mobility solution is motivating the market as mobile cloud computing can be labelled as infrastructure where both the data storage and the data computing happens outside device. The mobile cloud applications move computing power and the data storage away from the mobile phones and into cloud. Nowadays, owing to digital transmission, individuals use smartphones in daily life for shopping, bill payments, and mobile banking, amongst others. Owing to this, people share the personal information with third-party forum which raises concern over privacy of individual’s personal information. The internet users are sharing lot of information through third-party forum. Henceforth, security of data becomes essential factor which is increasing growth of homomorphic encryption market.

Segment Overview

In the banking industry, user can store its encrypted data on cloud. The cloud can complete computations and return encrypted result to user, and user can also decrypt the cyphertext by using numerous methods and keeping the data hidden from host. The use of the cloud computing brings lot of advantages, easy maintenance, including low cost, and re-provisioning of resources. Similarly, industries such as healthcare, banking & finance, manufacturing among the others are investing severely to secure the data on cloud. Therefore, growing investment in the cloud-based industries is increasing homomorphic market worldwide.

Regional Overview

North American accounted for largest market share from the U.S. and Canada. Homomorphic encryption market is anticipated to grow at fast pace in U.S. The reason is accredited to stable the growth rate, increasing consumption, better medical facilities, increasing private sector investments, increasing number of medium and small scale enterprises and high exports,.

Europe is rising at stable rate over forecast period. The region is credited to increasing security concerns, high acceptance of homomorphic encryption solutions prompt industrialization, among others. Also, high investment in cloud-based industries is likely to boost market over forecast period. While, factors such as lack of the up-gradation and complexity are preventing the market from rising in European region. Countries such as UK and Germany accounted for largest market share in European region majorly being banking hub and the high investment in infrastructure. The Asian market presents huge growth prospects for the industrial sector.

Competitor overview

The global market is very dynamic and is probable to witness stable growth over forecast period. The growth of homomorphic encryption market is inclined by growing demand for the secured data transmission, increasing investment in the cloud-based industries, and rising e-governance initiatives. Moreover, high application of homomorphic encryption in banking and finance sector is anticipated to boost growth over forecast period. However, complexity of systems and dearth of upgradation are factors hindering the growth of homomorphic encryption market.   

Key Players
  1. Gemalto
  2. Oracle Corporation
  3. Microsoft
  4. IBM Corporation
  5. Galois Inc
  6. CryptoExperts
  7. Netskope

Market Segmentation

By Product
  • Fully
  • Additive
  • Partial
  • Multiplicative
By End Use
  • Banking and Finance
  • Healthcare
  • Government
  • Industrial
  • others
By Geography
  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
    • Brazil
    • Saudi Arabia
    • UAE
    • Rest of LAMEA

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