Press release
Homomorphic Encryption Market is valued at USD 226 million in 2024 and is projected to reach USD 1.12 billion by 2030
Homomorphic Encryption Market
The Homomorphic Encryption Market is growing rapidly as enterprises, financial institutions, and governments adopt advanced privacy-preserving encryption technologies to secure sensitive data during processing. Unlike traditional encryption methods, homomorphic encryption (HE) allows computation on encrypted data without decrypting it, significantly strengthening security for cloud computing, AI/ML applications, healthcare analytics, banking operations, and confidential data sharing.
The global homomorphic encryption market is valued at USD 226 million in 2024 and is projected to reach USD 1.12 billion by 2030, growing at an exceptional CAGR of 30.7% during 2024-2030. Market growth is driven by rising data privacy regulations, cloud adoption, and demand for secure computation in AI workflows.
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Market Growth (2024-2030)
• Market Size 2024: USD 226 million
• Market Size 2030: USD 1.12 billion
• CAGR: 30.7%
North America leads the market due to strong investments in cryptography R&D, while Europe follows with strict GDPR-driven privacy requirements. Asia-Pacific is the fastest-growing region driven by digital transformation and cloud modernization.
Key Market Drivers
• Rising data privacy mandates such as GDPR, HIPAA, CCPA, and global cybersecurity frameworks
• Increasing adoption of cloud services and multi-party data collaboration
• Growing need for privacy-preserving analytics in healthcare, BFSI, and government sectors
• Rapid integration of AI and machine learning requiring secure encrypted model training
• Surge in cyber threats, ransomware, and confidential data breaches
• Expansion of zero-trust architectures demanding stronger encryption methods
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Market Segmentation
By Type of Homomorphic Encryption
• Fully Homomorphic Encryption (FHE)
• Partially Homomorphic Encryption (PHE)
• Somewhat Homomorphic Encryption (SHE)
• Leveled Homomorphic Encryption
By Component
• Software
• Hardware Accelerators
• Services
o Consulting
o Integration
o Support & Maintenance
By Application
• Secure Data Analytics
• Encrypted Cloud Computing
• IoT & Edge Device Security
• Blockchain & Cryptographic Systems
• Secure AI/ML Model Training
• Financial Transactions & Risk Modeling
• Medical Data Processing
• Confidential Computing
By Deployment Mode
• On-Premises
• Cloud-Based
By Enterprise Size
• Large Enterprises
• Small & Medium Enterprises (SMEs)
By End-Use Industry
• Banking, Financial Services & Insurance (BFSI)
• Healthcare & Life Sciences
• Government & Defense
• IT & Telecom
• Cloud Service Providers
• Retail & E-commerce
• Manufacturing
• Energy & Utilities
By Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
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Key Market Trends
• Rapid movement toward fully homomorphic encryption (FHE) for high-security cloud analytics
• Integration of HE with AI/ML platforms for private model training and inference
• Growing use in healthcare data-sharing networks, enabling secure patient analytics
• Expansion of encrypted federated learning models
• Emergence of hardware-accelerated HE for faster computation
• Adoption of HE in blockchain and secure digital identity systems
• Increased government funding in post-quantum cryptography (PQC) research
Competitive Landscape
Leading companies in the Homomorphic Encryption Market include:
• IBM Corporation
• Microsoft Corporation
• Intel Corporation
• Google LLC
• CryptoExperts SAS
• Duality Technologies
• Zama AI
• Thales Group
• ShieldIO
• Enveil Inc.
These firms focus on developing scalable HE libraries, accelerating FHE performance, and integrating homomorphic encryption into cloud, AI, and data security portfolios.
Recent Developments
• Launch of new FHE toolkits optimized for AI data processing by major tech companies
• Collaborations between cloud service providers and HE startups for secure multi-cloud workloads
• Introduction of GPU and ASIC accelerators to reduce computational overhead in HE models
• Partnerships between healthcare systems and cryptography companies for secure medical analytics
• Increased government-backed research in quantum-resistant homomorphic algorithms
• Development of open-source HE frameworks for academia and enterprise adoption
This report is also available in the following languages : Japanese (準同型暗号市場), Korean (동형 암호화 시장), Chinese (同态加密市场), French (Marché du chiffrement homomorphe), German (Markt für homomorphe Verschlüsselung), and Italian (Mercato della crittografia omomorfica), etc.
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