Global Homomorphic Encryption Market Growth (Status and Outlook) 2023-2029

Global Homomorphic Encryption Market Growth (Status and Outlook) 2023-2029

Homomorphic Encryption (HE, homomorphic encryption) is a special encryption mode in cryptography. Homomorphic Encryption allows users to send the encrypted cipher text to any third party for calculation, and does not need to be decrypted before calculation. Calculate on the cipher text. Although the concept of homomorphic encryption first appeared 30 years ago, the first fully homomorphic encryption framework that supports arbitrary operations on cipher text appeared late, and was proposed by Craig Gentry in 2009.

Homomorphic Encryption is a form of encryption that allows an encrypted file to be calculated to generate an encrypted result that matches the result of the operation performed on the plaintext after decryption. The purpose of Homomorphic Encryption is to allow calculations on encrypted data.

LPI (LP Information)' newest research report, the “Homomorphic Encryption Industry Forecast” looks at past sales and reviews total world Homomorphic Encryption sales in 2022, providing a comprehensive analysis by region and market sector of projected Homomorphic Encryption sales for 2023 through 2029. With Homomorphic Encryption sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Homomorphic Encryption industry.

This Insight Report provides a comprehensive analysis of the global Homomorphic Encryption landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Homomorphic Encryption portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Homomorphic Encryption market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Homomorphic Encryption and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Homomorphic Encryption.

The global Homomorphic Encryption market size is projected to grow from US$ 147 million in 2022 to US$ 533.9 million in 2029; it is expected to grow at a CAGR of 20.2% from 2023 to 2029.

The Homomorphic Encryption is mainly classified into the following types: Partially Homomorphism and Fully Homomorphism. And Fully Homomorphism is the most widely used type which took up about 92% of the global in 2019.

Homomorphic Encryption is mainly used in Government, Financial & Insurance, Health Care, Industrial and Others. And Financial & Insurance is the most widely used area which took up about 30% of the global in 2019.

North America is the largest countries of Homomorphic Encryption in the world in the past few years and it will keep increasing in the next few years. North America market took up about 68% the global market in 2019, while Europe and Asia-Pacific were about 15%, 12%.

Market barriers of Homomorphic Encryption are high, the main players are Microsoft, IBM, Galois and CryptoExperts, Enveil, Duality Technologies, ShieldIO, HUAWEI among those, IBM mastered the most advanced technology, Microsoft made great progress in the healthcare and biotechnology area; Galois got strong support from DARPA; CryptoExperts, Enveil, Duality Technologies, ShieldIO, HUAWEI are young start-up companies with a huge future, and now, they are cooperating to standardize homomorphic encryption.

This report presents a comprehensive overview, market shares, and growth opportunities of Homomorphic Encryption market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type

Partially Homomorphism

Fully Homomorphism

Segmentation by application

Government

Finance and Insurance

Health Care

Industry

Others

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

Microsoft

IBM Corporation

Galois

CryptoExperts

Enveil

Duality Technologies

ShieldIO

Huawei

Please note: The report will take approximately 2 business days to prepare and deliver.