Homomorphic Encryption Market 2017-2027 by Global Key Players: Gemalto, Oracle, Microsoft, IBM, 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 Scenario:

Homomorphic Encryption is a form of encryption process which helps to carry out computations through cipher text to generate an encrypted result. It helps to delegate the data without giving away access of the data. Homomorphic Encryption is widely used for effective data security. Data encryption translates data into a form or a code so that it is accessible to people who have the password. Homomorphic Encryption is widely used for effective data security.

The global Homomorphic Encryption Market is a very dynamic market and is expected to witness stable growth over the forecast period. The growth of the homomorphic encryption market is influenced by the growing demand for secured data transmission, growing investment in cloud based industries and growing e-governance initiatives. Furthermore, high implementation of homomorphic encryption in the banking and finance sector is expected to boost the growth over the forecast period. However, the complexity of systems and lack of upgradation are the factors hindering the growth of the homomorphic encryption market.

The global market of homomorphic encryption is expected to grow at USD 268.3 million by the end of year 2027 with 7.55% of compound annual growth rate.

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Industry News

June 2017, A prototype for an encrypted Uber that can't track you. A team of cryptographers at the Swiss Federal Polytechnic Institute in Lausanne and Lausanne University have developed a prototype for a software system called “ORide” that is designed to make possible all the features of a ridesharing service while reducing the need of location data it collects. The researchers claim that it might be adopted by ridesharing service companies, where privacy can be a unique selling proposition. They also claim that using the prototype can make it impossible for an attacker, an eavesdropper, or the ridesharing service itself to make use of the location data that goes beyond the function of the service.

March, 2017 New Homomorphic crypto is ‘math magic’. The director of Intelligence Advanced Research Projects Activity claims, that the latest advanced encryption system could allow classified computing to be performed on unclassified computer systems. The director also confirmed that the Homomorphic encryption can fix the gap in the way data was kept secured, allowing mathematical operations using encrypted data without the need of decrypting it. The Homomorphic encryption is supposed to benefit both, the consumer side and the producer side.

April, 2017 IBM's Homomorphic encryption could revolutionize security. IBM acquires a patent on an encryption method that the company claims could run fully encrypted programs or Virtual Machines without decrypting them. The idea behind Homomorphic encryption (HE) lets you perform math directly on the encrypted data and have the results of that math show in the underlying data. This Homomorphic encryption will work without having to decrypt any of the data. The patent acquired by IBM gives the company, a competitive edge over its competitors.

January, 2017 LifeNome, Infoshield Partner on Genomic Data Encryption. LifeNome and Infoshield have announced a partnership to develop Homomorphic encryption standards for genomic and phenotypic data for cloud-based software. The companies will deploy Infoshield's encryption in LifeNome's consumer-focused genomics software. LifeNome will support Infoshield in providing Homomorphic encryption as an industry standard in personal genomics. Both the firms are based in New York City and have begun testing the encryption on LifeNome's platform. Infoshield plans to provide its technology to other personal genomics companies over the next year.

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.

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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.

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