Homomorphic Encryption Market Size, Emerging Trends, Applications Analysis and Competitive Landscape to 2023

Homomorphic Encryption Market
Homomorphic Encryption Market Information, by Type (Full, Partial, Additive, Multiplicative), by Application (Industrial, Government, Finance, Banking, Healthcare) – Forecast 2027

Homomorphic Encryption Global Markets – Overview

A desirable feature in modern communication system architectures, Homomorphic encryption is a form of encryption which allows specific types of computations to be carried out on cipher texts and generate an encrypted result which, when decrypted, matches the result of operations performed on the plaintexts. The demand for privacy of digital data and of algorithms for handling more complex structures have increased exponentially over the last decade. This goes in parallel with the growth in communication networks and their devices and their increasing capabilities. At the same time, these devices and networks are subject to a great variety of attacks involving manipulation and destruction of data and theft of sensitive information. For storing and accessing data securely, current technology provides several methods of guaranteeing privacy such as data encryption and usage of tamper resistant hardware. However, the critical problem arises when there is a requirement for publicly computing with private data or to modify functions or algorithms in such a way that they are still executable while their privacy is ensured. This is where homomorphic cryptosystems can be used since these systems enable computations with encrypted data. The purpose of homomorphic encryption is to allow computation on encrypted data. Thus, data can remain confidential while it is processed, enabling useful tasks to be accomplished with data residing in untrusted environments. In a world of distributed computation and heterogeneous networking this is a hugely valuable capability.

 

According to a recent study report published by the Market Research Future, the global market of Homomorphic encryption is forecasted to witness a thriving growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2027).

 

The major growth driver of Homomorphic Encryption Market includes growing demand for secured data transmission, increasing investment in cloud based industry, and the growing usage of mobility solutions and smart devices that are increasing market of security issues. However, lack of technical expertise is one of the major factors which are hindering the growth of Homomorphic Encryption Market.

 

Homomorphic Encryption Global Markets – Key Players

Giant players having a strong presence in the international and regional market adorn the global Homomorphic Encryption market as highly competitive and fragmented. The market demonstrates a high potential for growth opportunities which attracts several entrants to join the bandwagon due to which the market will witness a fierce competition during the forecast period. The key strategies traced from the analysis of recent developments of the key players include distinguished services and product offerings, Agreement & Partnership, Acquisition and expansion. For Instance;

 

– Cipher cloud has announced on July 2016 that it has extended its integration with BOX to provide privacy   and security for financial industry.

– IBM has announced in April 2016 about its partnership with reliance communication to provide secure and scalable IaaS (infrastructure as a service) to the customer running over IBM cloud.

 

Major Players Include

  • IBM (U.S.)
  • Symantec (U.S.)
  • Cipher cloud (U.S.)
  • Netskope (U.S.)
  • Accenture (Ireland)
  • Adallom (U.S.)
  • Google (U.S.)
  • Infosys (India)
  • Fujitsu (Japan)

 

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Homomorphic Encryption Global Markets – Segments

The Homomorphic Encryption Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Type: Comprising Full, multiplicative, additive and partial among others. 

Segmentation by Application: Comprising Industrial, Government, Finance, Banking, Healthcare

Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.

 

Homomorphic Encryption Global Markets – Synopsis

Recent Development: Ciphering system allows encrypted data to be analyzed in the cloud. The encrypted data is sent to the cloud and processed and the result can be downloaded from the cloud and decrypted to provide the final answer.

 

Ciphering is an encryption system that could solve the problem keeping many organizations from using cloud computing to analyze and mine data is a high security risk to give a public cloud provider such as Amazon or Google access to unencrypted data.

 

The problem is that while data can be sent to and from a cloud provider’s data center in encrypted form, the servers that power a cloud can’t do any work on it that way. Now Ciphering has shown that it is possible to analyze data without decrypting it. The key is to encrypt the data in such a way that performing a mathematical operation on the encrypted information and then decrypting the result produces the same answer as performing an analogous operation on the unencrypted data. The correspondence between the operations on unencrypted data and the operations to be performed on encrypted data is known as a homomorphism. With homomorphic encryption, a company could encrypt its entire database of e-mails and upload it to a cloud. Then it could use the cloud-stored data as desired—for example, to search the database to understand how its workers collaborate. The results would be downloaded and decrypted without ever exposing the details of a single e-mail.

 

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Homomorphic Encryption Markets – Regional Analysis

North America is expected to dominate the Global Homomorphic Encryption Market with the largest market share, and therefore accounting for astronomical amounts and is expected to grow over previous growth records by 2027. Homomorphic Encryption Market in Asia-Pacific market is expected to grow at a substantial CAGR during 2016 to 2027. The Europe market for Homomorphic Encryption Market is expected to grow at a phenomenal CAGR (2016-2027).

 

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