Homomorphic Encryption Market
Homomorphic Encryption Market Size, Share & Trends Analysis Report by Component (Solution and Services), by Type (Partially Homomorphic Encryption, Somewhat Homomorphic Encryption, and Fully Homomorphic Encryption), by Application (Secure Data Computation, Data Privacy, Data Monetization, and Regulatory Compliance), and by End User (BFSI, IT and Telecom, Health Care, Government, Educational Institutes, and Others) Forecast Period (2023-2030)
Homomorphic encryption market is anticipated to grow at a CAGR of 8.3% during the forecast period. The prominent factor that drives the market growth includes the expansion of the banking and finance sector, growing demand for data privacy and security in end-user verticals, and the significant increase in research and development of encryption technologies. For instance, Duality, launched their open-source fully homomorphic encryption (FHE) library, OpenFHE, in July 2022. This was a collaborative project with other leaders in cryptography including Intel, Samsung, University of California-San Diego and MIT. OpenFHE is considered a next-generation open-source FHE software library providing even greater security, robust privacy protection and wider useability. Homomorphic Encryption offers opportunities for those in audit and assurance to develop advanced analytics, machine learning (ML), and artificial intelligence (AI) technologies by enabling more options for data management. In November 2021, Duality Technologies announced that its privacy-enhanced Duality SecurePlus ML applications are now available to Amazon Web Services (AWS) customers fueled by 3rd Gen Intel Xeon processors, using accelerated homomorphic encryption. These applications allow AWS customers to process new ML workloads in the cloud at scale while protecting sensitive data and preserving privacy. This new capability also ensures that organizations processing sensitive data in the cloud remain compliant with data privacy regulations as they are never directly exposed to the data being processed.
Segmental Outlook
The global homomorphic encryption market is segmented based on its component, type, application, and end user. Based on component the market is bifurcated into solution, and services. Based on application, the market is segmented into secure data computation, data privacy, data monetization, and regulatory compliance. Based on type, the market is categorized into partially homomorphic encryption, somewhat homomorphic encryption, and fully homomorphic encryption. Based on end user, the market is divided into BFSI, IT and telecom, health care, government, educational institutes, and others. Based on component, the solution segment registered a favourable market share. Rising deployment of homomorphic encryption solutions across various industries, such as insurance, banking, and healthcare for solving data protection vulnerability, is projected to drive segment growth.
The Healthcare Segment Holds a Significant Share in the Global Homomorphic Encryption Market
Based on end user verticals, the healthcare segment is projected to grow at a significant rate. The growth is mainly attributed to the rising adoption of homomorphic encryption solutions by several healthcare enterprises for protecting sensitive patient data as well as securing IP assets associated with drug discovery and research. For instance, in May 2020 Duality Technologies, announced the publication of an article in PNAS (Proceedings of the National Academy of Sciences of the United States of America), on Secure large-scale genome-wide association studies (GWAS) using homomorphic encryption. The study unveiled that homomorphic encryption technology enables collaboration on large-scale genomic and clinical studies while protecting the privacy of the individual participants. The researchers' extrapolations show that this method can perform GWAS on 100,000 individuals and 500,000 Single Nucleotide Polymorphisms (SNPs) in 5.6 hours on a single server node. These performance results are significantly faster than prior secure computation methods with a similar level of accuracy. Moreover, the advances can also be applied to other branches of medical research such as clinical trials, drug repurposing and rare disease studies.
Regional Outlooks
The global homomorphic encryption market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the Asia-Pacific region is anticipated to witness stable growth during the forecast period. The growth of the homomorphic encryption market is influenced by the growing demand for secured data transmission, rising investment in cloud-based industries and growing e-governance initiatives in the region.
Global Homomorphic Encryption Market Growth, by Region 2023-2030
North America is Expected to Hold a Prominent Market Share in the Global Homomorphic Encryption Market
Among all the regions, North America is anticipated to hold a major market share of the global homomorphic encryption market. The rising number of strategic partnerships for enhancing homomorphic encryption computation along with the increasing private sector investments add to the regional homomorphic encryption market expansion. For instance, in December 2020, IBM Security launched a new service that allows companies to experiment with fully homomorphic encryption (FHE), an emerging technology designed to allow data to remain encrypted even while being processed or analyzed in the cloud or third-party environments. The new IBM Security Homomorphic Encryption Services provide companies with education, expert support, and a testing environment for clients to develop prototype applications that can take advantage of FHE.
Market Players Outlook
The major companies serving the global homomorphic encryption market include Google LLC, IBM Corp., Microsoft Corp., Nvidia, Shieldio, Zaiku Group Ltd., AppsFlyer, and others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in December 2021, AppsFlyer collaborated with Intel to build the AppsFlyer Privacy Cloud. The AppsFlyer Privacy Cloud allows multiple entities to safely bring their data together based on their own business logic, guidelines and privacy requirements while leveraging a privacy-preserving tech stack including Aggregated Advanced Privacy (AAP), Aggregated Conversion Modeling (ACM), Data Clean Rooms, privacy-preserving cryptographic solutions, Predictive analytics, and others. The collaboration leverages the hardware-enhanced crypto acceleration in Intel’s 3rd Generation Intel Xeon Scalable platform to significantly speed up computation for the Privacy Cloud’s high-performance advanced homomorphic encryption (HE) applications.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global homomorphic encryption market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Google LLC
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. IBM Corp.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Microsoft Corp.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Oracle Corp.
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
4. Market Segmentation
4.1. Global Homomorphic Encryption Market by Component
4.1.1. Solution
4.1.2. Services
4.2. Global Homomorphic Encryption Market by Type
4.2.1. Partially Homomorphic Encryption
4.2.2. Somewhat Homomorphic Encryption
4.2.3. Fully Homomorphic Encryption
4.3. Global Homomorphic Encryption Market by Application
4.3.1. Secure Data Computation
4.3.2. Data Privacy
4.3.3. Data Monetization
4.3.4. Regulatory Compliance
4.4. Global Homomorphic Encryption Market by End User
4.4.1. BFSI
4.4.2. IT and Telecom
4.4.3. Health Care
4.4.4. Government
4.4.5. Educational Institutes
4.4.6. Others (Manufacturing, Energy and Utilities)
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Apple Inc.
6.2. Cornami, Inc.
6.3. Cosmian Tech
6.4. CryptoExperts SAS
6.5. Desilo
6.6. Duality Technologies Inc.
6.7. Enveil, Inc.
6.8. Inpher
6.9. Netskope Inc.
6.10. Nvidia Corp.
6.11. ShieldIO
6.12. Zaiku Group Ltd.
6.13. Zama
1. GLOBAL HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030($ MILLION)
2. GLOBAL HOMOMORPHIC ENCRYPTION SOLUTION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
3. GLOBAL HOMOMORPHIC ENCRYPTION SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
4. GLOBAL HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030($ MILLION)
5. GLOBAL PARTIALLY HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
6. GLOBAL SOMEWHAT HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
7. GLOBAL FULLY HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
8. GLOBAL HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030($ MILLION)
9. GLOBAL HOMOMORPHIC ENCRYPTION FOR SECURE DATA COMPUTATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
10. GLOBAL HOMOMORPHIC ENCRYPTION FOR DATA PRIVACY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
11. GLOBAL HOMOMORPHIC ENCRYPTION FOR DATA MONETIZATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
12. GLOBAL HOMOMORPHIC ENCRYPTION FOR REGULATORY COMPLIANCE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
13. GLOBAL HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY END USER, 2022-2030($ MILLION)
14. GLOBAL HOMOMORPHIC ENCRYPTION IN BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
15. GLOBAL HOMOMORPHIC ENCRYPTION IN IT AND TELECOM MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
16. GLOBAL HOMOMORPHIC ENCRYPTION IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
17. GLOBAL HOMOMORPHIC ENCRYPTION IN GOVERNMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
18. GLOBAL HOMOMORPHIC ENCRYPTION IN EDUCATIONAL INSTITUTES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
19. GLOBAL HOMOMORPHIC ENCRYPTION IN OTHERS (MANUFACTURING, ENERGY AND UTILITIES) MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
20. GLOBAL HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030($ MILLION)
21. NORTH AMERICAN HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030($ MILLION)
22. NORTH AMERICAN HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030($ MILLION)
23. NORTH AMERICAN HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030($ MILLION)
24. NORTH AMERICAN HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY END USER, 2022-2030($ MILLION)
25. EUROPEAN HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030($ MILLION)
26. EUROPEAN HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY COMPONENT,2022-2030($ MILLION)
27. EUROPEAN HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030($ MILLION)
28. EUROPEAN HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY END USER, 2022-2030($ MILLION)
29. ASIA-PACIFIC HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030($ MILLION)
30. ASIA-PACIFIC HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY COMPONENT,2022-2030($ MILLION)
31. ASIA-PACIFIC HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030($ MILLION)
32. ASIA-PACIFIC HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY END USER, 2022-2030($ MILLION)
33. REST OF THE WORLD HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030($ MILLION)
34. REST OF THE WORLD HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030($ MILLION)
35. REST OF THE WORLD HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030($ MILLION)
36. REST OF THE WORLD HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030($ MILLION)
37. REST OF THE WORLD HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY END USER, 2022-2030($ MILLION)
1. GLOBAL HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022 VS 2030 (%)
2. GLOBAL HOMOMORPHIC ENCRYPTION SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
3. GLOBAL HOMOMORPHIC ENCRYPTION SOLUTION MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
4. GLOBAL HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY TYPE, 2022 VS 2030 (%)
5. GLOBAL PARTIALLY HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
6. GLOBAL FULLY HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
7. GLOBAL SOMEWHAT HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
8. GLOBAL HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022 VS 2030 (%)
9. GLOBAL HOMOMORPHIC ENCRYPTION FOR SECURE DATA COMPUTATION MARKET RESEARCH AND ANALYSIS BY REGION,2022 VS 2030 (%)
10. GLOBAL HOMOMORPHIC ENCRYPTION FOR DATA PRIVACY MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
11. GLOBAL HOMOMORPHIC ENCRYPTION FOR DATA MONETIZATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
12. GLOBAL HOMOMORPHIC ENCRYPTION FOR REGULATORY COMPLIANCE MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
13. GLOBAL HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY END USER, 2022 VS 2030 (%)
14. GLOBAL HOMOMORPHIC ENCRYPTION IN BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
15. GLOBAL HOMOMORPHIC ENCRYPTION IN IT AND TELECOM MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
16. GLOBAL HOMOMORPHIC ENCRYPTION IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
17. GLOBAL HOMOMORPHIC ENCRYPTION IN GOVERNMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
18. GLOBAL HOMOMORPHIC ENCRYPTION IN EDUCATIONAL INSTITUTES MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
19. GLOBAL HOMOMORPHIC ENCRYPTION IN OTHERS (MANUFACTURING, ENERGY AND UTILITIES) MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
20. GLOBAL HOMOMORPHIC ENCRYPTION MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
21. US HOMOMORPHIC ENCRYPTION MARKET SIZE, 2022-2030($ MILLION)
22. CANADA HOMOMORPHIC ENCRYPTION MARKET SIZE, 2022-2030($ MILLION)
23. UK HOMOMORPHIC ENCRYPTION MARKET SIZE, 2022-2030($ MILLION)
24. FRANCE HOMOMORPHIC ENCRYPTION MARKET SIZE, 2022-2030($ MILLION)
25. GERMANY HOMOMORPHIC ENCRYPTION MARKET SIZE, 2022-2030($ MILLION)
26. ITALY HOMOMORPHIC ENCRYPTION MARKET SIZE, 2022-2030($ MILLION)
27. SPAIN HOMOMORPHIC ENCRYPTION MARKET SIZE, 2022-2030($ MILLION)
28. ROE HOMOMORPHIC ENCRYPTION MARKET SIZE, 2022-2030($ MILLION)
29. INDIA HOMOMORPHIC ENCRYPTION MARKET SIZE, 2022-2030($ MILLION)
30. CHINA HOMOMORPHIC ENCRYPTION MARKET SIZE, 2022-2030($ MILLION)
31. JAPAN HOMOMORPHIC ENCRYPTION MARKET SIZE, 2022-2030($ MILLION)
32. REST OF ASIA-PACIFIC HOMOMORPHIC ENCRYPTION MARKET SIZE, 2022-2030($ MILLION)
33. REST OF THE WORLD HOMOMORPHIC ENCRYPTION MARKET SIZE, 2022-2030($ MILLION)
