Homomorphic Encryption Market Size, Global Analysis, Growth Factors, Top Leaders, Opportunity Assessment, Business Strategy and Comprehensive Research Study Till 2027

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.

Pune, India - December 6, 2018 /MarketersMedia/ —

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 Homomorphic Encryption Market is expected to grow at USD 268.3 million by the end of year 2027 with 7.55% of compound annual growth rate.

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.

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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 News

March 2018 – IBM has rewritten its C++ homomorphic encryption library and claims it now goes up to 75 times faster. IBM has worked on homomorphic encryption for quite some time, and released the first version of its HElib C++ library in 2015, but as per the reports, the technology has suffered huge performance penalties. IBM has sped things up considerably and is making calculations on a 16-core server over two million times faster than past systems, and has open-sourced part of the technology.

Feb 2018 –Microsoft researchers smash homomorphic encryption speed barriers in partnership with academia, and have published a paper detailing how they have dramatically increased the speed of homomorphic encryption systems.

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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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Name: Abhishek Sawant
Organization: Market Research Future
Website: https://www.marketresearchfuture.com

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Source: MarketersMedia

Release ID: 455551