Global Homomorphic Encryption Market Size Study, by Component, by Type, by Application, by End-use and Regional Forecasts 2022-2032

Description

Global Homomorphic Encryption Market was valued at approximately USD 161 million in 2023 and is expected to witness significant growth with a compound annual growth rate (CAGR) of over 8.02% during the forecast period of 2024-2032. Homomorphic encryption, a sophisticated encryption technique, facilitates computations on encrypted data without the need to decrypt it, thereby preserving data confidentiality. This capability is particularly crucial for applications in secure cloud computing, privacy-preserving data analysis, and regulatory compliance, making it a highly sought-after technology in the cybersecurity domain.

The Global Homomorphic Encryption Market expansion is driven by the increasing frequency of cyberattacks and the involvement of major technology players focusing on advanced encryption technologies. Furthermore, stringent government regulations aimed at bolstering cybersecurity and the rising digitization across industries handling sensitive information are propelling the demand for homomorphic encryption solutions. However, the market faces challenges such as a shortage of skilled cybersecurity professionals and the significant memory requirements for implementing homomorphic encryption.

The key regions considered for the market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America is expected to dominate the homomorphic encryption market, exhibiting the highest CAGR during the forecast period. The region's strong presence of major corporations and startups, coupled with the heightened risk of cyberattacks, has led to increased adoption of homomorphic encryption technology. Strategic partnerships aimed at enhancing fully homomorphic encryption (FHE) computations, along with rising private sector investments, are further contributing to the growth of the market in this region.

Major market players included in this report are:

IBM
Google
Intel
Thales Group
Cosmian
Cornami
CryptoLab
Duality Technologies
CryptoExperts
Galois

The detailed segments and sub-segments of the market are explained below:

By Component:

Solution
Service

By Type:

Fully Homomorphic Encryption
Partially Homomorphic Encryption
Somewhat Homomorphic Encryption

By Application:

Secure Data Computation
Data Privacy
Data Monetization
Regulatory Compliance

By End-use:

BFSI
Healthcare
Government
IT & Telecom
Others

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
ROE

Asia Pacific:

China
India
Japan
Australia
South Korea
RoAPAC

Latin America:

Brazil
Mexico
RoLA

Middle East & Africa:

Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market

Chapter 1. Global Homomorphic Encryption Market Executive Summary

1.1. Global Homomorphic Encryption Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Component
- 1.3.2. By Type
- 1.3.3. By Application
- 1.3.4. By End-use
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Homomorphic Encryption Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Homomorphic Encryption Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Cyberattacks
- 3.1.2. Involvement of Prominent Technology Players
- 3.1.3. Focus on R&D in Encryption Technologies
3.2. Market Challenges
- 3.2.1. Shortage of Skilled Cybersecurity Professionals
- 3.2.2. High Memory Requirements
3.3. Market Opportunities
- 3.3.1. Growing Digitization in Sensitive Sectors
- 3.3.2. Stringent Government Cybersecurity Regulations

Chapter 4. Global Homomorphic Encryption Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Homomorphic Encryption Market Size & Forecasts by Component 2022-2032

5.1. Segment Dashboard
5.2. Global Homomorphic Encryption Market: Component Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 5.2.1. Solution
- 5.2.2. Service

Chapter 6. Global Homomorphic Encryption Market Size & Forecasts by Type 2022-2032

6.1. Segment Dashboard
6.2. Global Homomorphic Encryption Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 6.2.1. Fully Homomorphic Encryption
- 6.2.2. Partially Homomorphic Encryption
- 6.2.3. Somewhat Homomorphic Encryption

Chapter 7. Global Homomorphic Encryption Market Size & Forecasts by Application 2022-2032

7.1. Segment Dashboard
7.2. Global Homomorphic Encryption Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 7.2.1. Secure Data Computation
- 7.2.2. Data Privacy
- 7.2.3. Data Monetization
- 7.2.4. Regulatory Compliance

Chapter 8. Global Homomorphic Encryption Market Size & Forecasts by End-use 2022-2032

8.1. Segment Dashboard
8.2. Global Homomorphic Encryption Market: End-use Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 8.2.1. BFSI
- 8.2.2. Healthcare
- 8.2.3. Government
- 8.2.4. IT & Telecom
- 8.2.5. Others

Chapter 9. Global Homomorphic Encryption Market Size & Forecasts by Region 2022-2032

9.1. North America Homomorphic Encryption Market
- 9.1.1. U.S. Homomorphic Encryption Market
  - 9.1.1.1. Component breakdown size & forecasts, 2022-2032
  - 9.1.1.2. Type breakdown size & forecasts, 2022-2032
  - 9.1.1.3. Application breakdown size & forecasts, 2022-2032
  - 9.1.1.4. End-use breakdown size & forecasts, 2022-2032
- 9.1.2. Canada Homomorphic Encryption Market
9.2. Europe Homomorphic Encryption Market
- 9.2.1. UK Homomorphic Encryption Market
- 9.2.2. Germany Homomorphic Encryption Market
- 9.2.3. France Homomorphic Encryption Market
- 9.2.4. Spain Homomorphic Encryption Market
- 9.2.5. Italy Homomorphic Encryption Market
- 9.2.6. Rest of Europe Homomorphic Encryption Market
9.3. Asia-Pacific Homomorphic Encryption Market
- 9.3.1. China Homomorphic Encryption Market
- 9.3.2. India Homomorphic Encryption Market
- 9.3.3. Japan Homomorphic Encryption Market
- 9.3.4. Australia Homomorphic Encryption Market
- 9.3.5. South Korea Homomorphic Encryption Market
- 9.3.6. Rest of Asia Pacific Homomorphic Encryption Market
9.4. Latin America Homomorphic Encryption Market
- 9.4.1. Brazil Homomorphic Encryption Market
- 9.4.2. Mexico Homomorphic Encryption Market
- 9.4.3. Rest of Latin America Homomorphic Encryption Market
9.5. Middle East & Africa Homomorphic Encryption Market
- 9.5.1. Saudi Arabia Homomorphic Encryption Market
- 9.5.2. South Africa Homomorphic Encryption Market
- 9.5.3. Rest of Middle East & Africa Homomorphic Encryption Market

Chapter 10. Competitive Intelligence

10.1. Key Company SWOT Analysis
10.2. Top Market Strategies
10.3. Company Profiles
- 10.3.1. IBM
  - 10.3.1.1. Key Information
  - 10.3.1.2. Overview
  - 10.3.1.3. Financial (Subject to Data Availability)
  - 10.3.1.4. Product Summary
  - 10.3.1.5. Market Strategies
- 10.3.2. Google
- 10.3.3. Intel
- 10.3.4. Thales Group
- 10.3.5. Cosmian
- 10.3.6. Cornami
- 10.3.7. CryptoLab
- 10.3.8. Duality Technologies
- 10.3.9. CryptoExperts
- 10.3.10. Galois

Chapter 11. Research Process

11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
11.2. Research Attributes