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Global Homomorphic Encryption Market Growth (Status and Outlook) 2024-2030
Product Code:811665
Published Date: Jan 02,2024
Pages: 91
Region: Global
Category: Service & Software
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According to our LPI (LP Information) latest study, the global Homomorphic Encryption market size was valued at US$ 147 million in 2023. With growing demand in downstream market, the Homomorphic Encryption is forecast to a readjusted size of US$ 533.9 million by 2030 with a CAGR of 20.2% during review period.
The research report highlights the growth potential of the global Homomorphic Encryption market. Homomorphic Encryption are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Homomorphic Encryption. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Homomorphic Encryption market.
Homomorphic Encryption (HE, homomorphic encryption) is a special encryption mode in cryptography. Homomorphic Encryption allows users to send the encrypted cipher text to any third party for calculation, and does not need to be decrypted before calculation. Calculate on the cipher text. Although the concept of homomorphic encryption first appeared 30 years ago, the first fully homomorphic encryption framework that supports arbitrary operations on cipher text appeared late, and was proposed by Craig Gentry in 2009.
Homomorphic Encryption is a form of encryption that allows an encrypted file to be calculated to generate an encrypted result that matches the result of the operation performed on the plaintext after decryption. The purpose of Homomorphic Encryption is to allow calculations on encrypted data.
The Homomorphic Encryption is mainly classified into the following types: Partially Homomorphism and Fully Homomorphism. And Fully Homomorphism is the most widely used type which took up about 92% of the global in 2019.
Homomorphic Encryption is mainly used in Government, Financial & Insurance, Health Care, Industrial and Others. And Financial & Insurance is the most widely used area which took up about 30% of the global in 2019.
North America is the largest countries of Homomorphic Encryption in the world in the past few years and it will keep increasing in the next few years. North America market took up about 68% the global market in 2019, while Europe and Asia-Pacific were about 15%, 12%.
Market barriers of Homomorphic Encryption are high, the main players are Microsoft, IBM, Galois and CryptoExperts, Enveil, Duality Technologies, ShieldIO, HUAWEI among those, IBM mastered the most advanced technology, Microsoft made great progress in the healthcare and biotechnology area; Galois got strong support from DARPA; CryptoExperts, Enveil, Duality Technologies, ShieldIO, HUAWEI are young start-up companies with a huge future, and now, they are cooperating to standardize homomorphic encryption.
Key Features:
The report on Homomorphic Encryption market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Homomorphic Encryption market. It may include historical data, market segmentation by Type (e.g., Partially Homomorphism, Fully Homomorphism), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Homomorphic Encryption market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Homomorphic Encryption market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Homomorphic Encryption industry. This include advancements in Homomorphic Encryption technology, Homomorphic Encryption new entrants, Homomorphic Encryption new investment, and other innovations that are shaping the future of Homomorphic Encryption.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Homomorphic Encryption market. It includes factors influencing customer ' purchasing decisions, preferences for Homomorphic Encryption product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Homomorphic Encryption market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Homomorphic Encryption market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Homomorphic Encryption market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Homomorphic Encryption industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Homomorphic Encryption market.
Market Segmentation:
Homomorphic Encryption market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.
Segmentation by type
Partially Homomorphism
Fully Homomorphism
Segmentation by application
Government
Finance and Insurance
Health Care
Industry
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Microsoft
IBM Corporation
Galois
CryptoExperts
Enveil
Duality Technologies
ShieldIO
Huawei
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According to this latest study, the 2021 growth of Homomorphic Encryption will have significant change from previous year. By the most conservative estimates of global Homomorphic Encryption market size (most likely outcome) will be a year-over-year revenue growth rate of XX% in 2021, from US$ 123.2 million in 2020. Over the next five years the Homomorphic Encryption market will register a 20.2% CAGR in terms of revenue, the global market size will reach US$ 257.3 million by 2026.
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