Asia Pacific Homomorphic Encryption Market
No. of Pages: 105 | Report Code: TIPRE00018160 | Category: Technology, Media and Telecommunications
No. of Pages: 105 | Report Code: TIPRE00018160 | Category: Technology, Media and Telecommunications
Homomorphic encryption solutions save financial and personally identifiable information (PII) data. The main feature of technology is it offers security for the data by keeping it encrypted at the time of processing and manipulation. In the era of digitalization data plays significant role, it not only requires analytics tools but also require security tools. The homomorphic encryption is one of the privacy-enhancing technologies (PETs). The key factor attributed to the growth of the APAC homomorphic encryption market is the growing data security concerns in all the data-sensitive organizations across the APAC. Increased concern for data security and data encryption at cloud platform, are some of the major factors anticipated to fuel the demand for homomorphic encryption in APAC region. Moreover, the APAC region is expected to witness the highest CAGR during the forecast period. The homomorphic encryption market in APAC is gaining prominence, as the homomorphic encryption solution offers proactive security measures to prevent data breaches. Moreover, the rising awareness among data processing companies regarding homomorphic technology is supportive factor for the APAC homomorphic encryption market growth. Also, the growing IT & telecom sector, particularly in developing economies of the region, is likely to boost the APAC homomorphic encryption market.
Furthermore, in case of COVID-19, APAC is highly affected specially the China and India. The strict lockdown initiated by the China and after that a whole APAC region has strong impact on the market. Offices, industries, schools and other are shut downed for certain period which hindered market growth. Although, market regained its momentum post lockdown as digitalization ratio increased in all region to perform business remotely which has affected the APAC homomorphic encryption market positively. APAC region have emerging countries such as China and India which are shifting their business models towards the digitalization. Countries such as Japan and South Korea have strong penetration of advanced technology such as AI, IoT and automation. Software industry is enchaining the market presence with solution such as block chains, cloud computing and others. Homomorphic encryption solution becomes the emerging trend in the digital market to enhance the security level for the businesses by securing the data transmission. China is holding the leading position in homomorphic encryption market as business are adopting the digital technologies. For instance, according to the Entrust Corporation Encryption Trends Study almost 60% are continuously adopting encryption strategy, while 72% stated that customer personal information protection is main objective behind encryption adoption strategy. Rising adoption of encryption techniques for more safety of data is expected to drive the APAC homomorphic encryption market even during the pandemic.
Strategic insights for the Asia Pacific Homomorphic Encryption provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 26.17 Million |
| Market Size by 2027 | US$ 59.85 Million |
| Global CAGR (2020 - 2027) | 11.2 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Homomorphic Encryption refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The APAC homomorphic encryption market is expected to grow from US$ 26.17 million in 2019 to US$ 59.85 million by 2027; it is estimated to grow at a CAGR of 11.2 % from 2020 to 2027. Escalation in need for data security is expected to escalate the APAC homomorphic encryption market. Escalation in number of cyberattacks across the APAC region has become a vital concern for organizations. As most digital data is shifted through the internet and advanced networks, the danger of data vulnerability has increased rapidly. The government, financial services, and IT sector are some of the prominent industries vulnerable to cyber threats. The industries mentioned above face tough challenges concerning their data security and vulnerability as they have to deal with storing, migrating, shifting, and outsourcing their user data on open source platforms many times. Therefore, in order to mitigate risk regarding data security while at rest, transmitting, or computing, the homomorphic encryption is gaining traction in various industries across APAC region. The utilization of homomorphic encryption technology is enabling organizations to maintain a robust standard of data security without compromising business operations or application functions. Moreover, owing to increasing concerns over the collection, misuse, transfer or handling of data by businesses and institutions, the governments across the APAC are strongly emphasizing on consumer data protection, which is further propelling the adoption of homomorphic encryption technology. Thus, growing concern over data security and increasing need for consumer data protection across the APAC are expected to propel the APAC homomorphic encryption market during the forecast period.
In terms of type, the fully segment accounted for the largest share of the APAC homomorphic encryption market in 2019. In terms of application, the BFSI segment held a larger market share of the APAC homomorphic encryption market in 2019.
A few major primary and secondary sources referred to for preparing this report on the APAC homomorphic encryption market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Google LLC; IBM Corporation; Inpher, Inc.; Microsoft Corporation; Netskope, Inc.; Thales Group.
Some of the leading companies are:
The Asia Pacific Homomorphic Encryption Market is valued at US$ 26.17 Million in 2019, it is projected to reach US$ 59.85 Million by 2027.
As per our report Asia Pacific Homomorphic Encryption Market, the market size is valued at US$ 26.17 Million in 2019, projecting it to reach US$ 59.85 Million by 2027. This translates to a CAGR of approximately 11.2 % during the forecast period.
The Asia Pacific Homomorphic Encryption Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Homomorphic Encryption Market report:
The Asia Pacific Homomorphic Encryption Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Homomorphic Encryption Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Homomorphic Encryption Market value chain can benefit from the information contained in a comprehensive market report.
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