Homomorphic Encryption Market 2017-2027 Global Leaders Analysis: Microsoft, Gemalto, Oracle, IBM Corporation, Galois, CryptoExperts, Netskope

Market Research Future published a research report on “Homomorphic Encryption Market Research Report- Global Forecast 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.

Market Overview:

Homomorphic encryption is a type of encryption that aids in computation through data conversion in ciphertext in order to maintain the originality of data during the process of transmission. As per the report published by Market research Future (MRFR), the global homomorphic encryption market is anticipated to expand at a notable CAGR of7.55% during the forecast period of 2016-2027 and is registered to reach the valuation of USD 268.3 Mn by the end of the forecast period.

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Market Drivers and Restraints:

The ubiquity of cloud-based services in the networking space has compromised the security of data at multiple levels. Increasing concern regarding the secure delivery of data owing to the high risk of data leakage is inducing high demand for data encryption, resulting in the expansion of the global Homomorphic Encryption Market. The advanced features of homomorphic encryption system such as complex calculations can be performed on encrypted data without compromising the integrity of encryption and high-end data security are propelling the growth of the global homomorphic encryption market.

Growing investments by various industrial sectors for adopting cloud-based solutions and rise in demand for secured data transmission owing to the increasing cybercrime activities are fueling the expansion of the global homomorphic encryption market. However, lack of upgrades and complexity of the systems are likely to restrain the growth of the global homomorphic encryption market during the forecast period.

Key Players

The prominent players in the market of Homomorphic Encryption market are – Gemalto (Netherlands), Oracle Corporation (U.S.), Microsoft (U.S.), IBM Corporation (U.S.), Galois Inc (U.S.), CryptoExperts (France), Netskope (U.S.) among others.

Homomorphic Encryption Global Market - Segmentation

• Segmentation by Type: Fully, additive, partial, multiplicative.
• Segmentation by Application: Banking and finance, healthcare, government, industrial.
• Segmentation by Region: North America, Europe, Asia Pacific, rest of the world.

Market Research Future Analysis

The geographical analysis of homomorphic encryption market is segmented into North America, Europe, Asia Pacific and rest of the world. Among these, the North American region accounted for the largest market share majorly from the countries like the U.S. and Canada. The reason for such growth is credited to increasing consumption of smartphones and internet, increasing investment in private sector, higher exports and increasing number of small and medium enterprises.

Europe is growing at a stable rate over the forecast period, majorly due to the increasing security concerns, high adoption of Homomorphic encryption solutions, and rapid industrialization. Additionally, the high investment in the cloud services is expected to boost the market over the forecast period. However, Europe is hit by several factors such as lack of up-gradation and complexity are restraining the market growth. Countries such as the U.K and Germany accounted for the largest market share in this region being a hub for financial services and high investment in infrastructure.

Industry Updates:

On 29th August 2018, Vault, an Australian cloud services provider, alongside QuintessenceLabs (QLabs) and Ziroh labs, has announced a secure enterprise file synchronization and sharing (EFSS) proof of concept which is aimed at data protection. These Canberra-based companies will bring together QuintessenceLabs' quantum key generation and key management with Vault's protected cloud and Ziroh Labs' homomorphic encryption technology, calling the end result as 'full entropy as a service.'

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Intended Audience

• Manufacturing Companies
• Software Developers
• Technology Providers
• Distributors
• Research firms
• Consultancy firms
• Stakeholders
• End-user sectors
• Technology Investors

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This release was published on openPR.