Homomorphic Encryption Market Regional Outlook, Competitive Analysis

1. Homomorphic Encryption Market Regional Outlook, Competitive Analysis, Application and Forecasts To 2030

2. Industry Insights • The homomorphic encryption market is also growing with the increasing number of investment strategies for building more privacy-centric and secure collaboration tools. To illustrate, in August 2021, Duality secured $30M for its privacy-focused data collaboration tools that are built using homomorphic encryption. • Though traditional encryption methods, like AES, are extremely fast and ensure convenient storage of data in encrypted form, they cannot perform simple analytics on encrypted data as cloud servers can lead to security concerns. Homomorphic encryption is therefore used for considerably simplifying this scenario, as it allows the cloud to directly operate on encrypted data and return the result to the data owners. It basically deals with the conversion of data into a ciphertext for analysis. • In a bid to establish higher standards of data security in organizations without affecting the processes and application functionality, the homomorphic encryption industry will witness lucrative expansion in the forthcoming years. Lately, businesses have been leveraging cloud computing and storage services securely for eliminating the tradeoff between usability and data security.

3. Considering the staggering time and cost savings of banks upon implementing cloud computing strategies, the widespread adoption of cloud has grown crucial for the security and protection of data. In this regard, fully homomorphic encryption (FHE) has garnered immense traction. • The thriving need for financial crime prevention, detection, and investigation has also led to the higher deployment of encryption methods. FHE further helps financial institutions in leveraging intelligent insights from data assets for delivering better products, and policies to offer services across credit card partners, mergers, loans, and acquisitions without disclosing confidential information. • Homomorphic encryption has emerged as a strong contender in medical imaging as it is designed for processing data that remains encrypted. With the increasing demand for handling electronic health records for improved data accessibility, and allowing e-messaging between providers, the efficient homomorphic medical image encryption algorithm is increasingly used for cloud storage security. • The rising demand for supporting real-time learning in personalized cancer medicine will also play an ideal role in the homomorphic encryption market expansion.

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5. Competitive Analysis • Some of the key players profiled in the homomorphic encryption market report include Duality Technologies Inc., Google LLC, IBM Corporation, Intel Corporation, Microsoft Corporation, Thales Group, and Zaiku Group Ltd. Request for Customization @ https://www.gminsights.com/roc/5309

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